Term Deposit rates
Check out the fixed interest rate for your choice of term – and look out for additional bonus rates.
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Special Offers
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Special Offers
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8-month special offer

Up to 5.15% P.A. online offer for 8 months

How your interest adds up:​

  • 5.05% p.a. Fixed Rate Special Offer[#] Term Deposit for Terms of 8 months​
  • PLUS, an additional 0.10% p.a. online bonus offer[#] when you open or renew online
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12-month special offer

Up to 5.25% P.A. online offer for 12 months

How your interest adds up:​

  • 5.15% p.a. Fixed Rate Special Offer[#] Term Deposit for Terms of 12 months​
  • PLUS, an additional 0.10% p.a. online bonus offer[#] when you open or renew online
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8-month Special Offer available from 15/07/2026 and 12-month Special Offer available from 22/05/2026, on Term Deposits opened or renewed by existing Westpac personal or business customers. Available on deposits of $5,000 to $2,000,000 with interest paid monthly or at maturity. T&Cs Apply.

Important about special rates at maturity

T&Cs apply. If a Special Offer is available at maturity, you must review and confirm your renewal during the 6 business days variation period after maturity to be eligible, even if you’ve already provided instructions before maturity. The Online Bonus Rate, where applicable, is included in the Special Offer rate shown and is added to your term deposit interest rate when you open or renew online during the variation period. It is applied in addition to any other bonus rates you may be eligible for.

To open a joint Term Deposit, or Term Deposit for a trust or self-managed super fund, please visit us in branch, or contact your Relationship Manager.

Not yet a Westpac customer? Please contact a Westpac Branch.

Term Deposit rates and terms

Rates apply to deposits of $5,000 to $2,000,000.

Split-month rates may be available in-branch and if renewing a deposit online.

To open a joint Term Deposit, or Term Deposit for a trust or self-managed super fund, please visit us in branch, or contact your Relationship Manager.

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3 months 6 months 12 months
3.25% p.a. 3.40% p.a. 4.75% p.a.
  • For term deposits with interest paid at maturity. Rate may differ when interest is paid on another frequency.
  • Add 0.10% p.a. to these rates if you’re already with Westpac and opening or renewing online.[#]
  • Check for additional bonus rates when you sign in.

If you’re already with Westpac, see our special offer for eligible deposits.

table
3 months 6 months 12 months
3.25% p.a. 3.40% p.a. 4.75% p.a.
  • For term deposits with interest paid at maturity. Rate may differ when interest is paid on another frequency.
  • Add 0.10% p.a. to these rates if you’re already with Westpac and opening or renewing online.[#]
  • Check for additional bonus rates when you sign in.

If you’re already with Westpac, see our special offer for eligible deposits.

3 months 6 months 12 months
3.25% p.a. 3.40% p.a. 4.75% p.a.
  • For term deposits with interest paid at maturity. Rate may differ when interest is paid on another frequency.
  • Add 0.10% p.a. to these rates if you’re already with Westpac and opening or renewing online.[#]
  • Check for additional bonus rates when you sign in.

If you’re already with Westpac, see our special offer for eligible deposits.

Rates for 1 to 5 month terms

Interest paid monthly Interest paid at maturity
Term Fixed rate p.a. Fixed rate p.a.
1 month 1.40% 1.40%
2 months 1.60% 1.65%
3 months 3.20% 3.25%
4 months 3.35% 3.40%
5 months 3.40% 3.45%
  • Add 0.10% p.a. to these rates if you’re already with Westpac and opening or renewing online.[#]
  • Check for additional bonus rates when you sign in.

Rates for 6 to 11 month terms

Interest paid monthly Interest paid at maturity
Term Fixed rate p.a. Fixed rate p.a.
6 months 3.35% 3.40%
7 months 3.50% 3.55%
8 months 3.55% 3.60%
9 months 3.60% 3.65%
10 months 3.65% 3.70%
11 months 3.70% 3.75%
  • Add 0.10% p.a. to these rates if you’re already with Westpac and opening or renewing online.[#]
  • Check for additional bonus rates when you sign in.

Rates for 12 months and more

Interest paid monthly Interest paid annually Interest paid at maturity
Term Fixed rate p.a. Fixed rate p.a. Fixed rate p.a.
12 months 4.70% - 4.75%
13 - 23 months 4.70% 4.75% -
24 - 35 months 4.45% 4.50% -
36 - 47 months 3.95% 4.00% -
48 - 59 months 3.95% 4.00% -
60 months 3.95% 4.00% -
  • Add 0.10% p.a. to these rates if you’re already with Westpac and opening or renewing online.[#]
  • Check for additional bonus rates when you sign in.

If you’re already with Westpac, see our special offer for eligible deposits.

On Demand interest rate

On Demand variable rate for all deposits: 0.05%.

An On Demand interest rate applies during the 6-business day Variation Period following the maturity of a Term Deposit, if no instructions for renewal or account closure have been received. The rate is applied from maturity up to the day when instructions are received; and after 6 days without instructions the deposit will be reinvested for the same term as previously, but at the fixed interest rate in place at the time.

What is a Term Deposit and how does it work?

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Choice of terms
A Term Deposit is a type of savings account where your money is locked safely away for a set period.
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Fixed rate of return
The interest rate in place when you open the account is fixed for the whole term unless you withdraw funds early.
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Option to reinvest
When the term is over you can withdraw your money, or invest some or all of it for another term.
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How do I manage my Term Deposit?

  • Manage your Term Deposit in Online Banking or the Westpac App if you’re eligible, without having to visit a branch.
  • When your investment matures, choose a new term – or withdraw funds into your eligible everyday account.
  • You can set up renewal or withdrawal instructions in advance online, then update them whenever you want to.
  • Opt-in to get notified via email and your Online Banking Message Centre when your Term Deposit is maturing.
Frequently asked questions
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If a Special Offer is available at maturity, you must review and confirm your renewal during the 6 business days variation period after maturity to be eligible, even if instructions were provided before maturity. The Online Bonus Rate, where applicable, is included in the Special Offer shown and is added to your Term Deposit interest rate when you open or renew online during the variation period. It is applied in addition to any other bonus rates you may be eligible for.
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What do I need to know about the Special Offers at maturity and Online Bonus Rate?

To open or renew a Term Deposit online, you need to be a Westpac customer with a Choice account.

If your Term Deposit is for a business, a trust, or a self-managed super fund, or if you want a joint account, you must visit a branch.

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Can I open or manage a Term Deposit online?

The online bonus rate as detailed in the Fixed interest rates table, will be:

  • Added to your Term Deposit rate when you open or renew online during the variation period
  • Included within the bonus rate displayed when opening or renewing your Term Deposit
  • Applied on top of any other bonus rates you may be eligible for.
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How do I access the online bonus rate and how will it be displayed?
Yes, the online bonus will be added to our advertised special offer rates when you apply or renew online.
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Does the online bonus rate apply to special offers?
No, it is only applied to Term Deposits opened or renewed online.
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Can I have the online bonus rate applied in branch or over the phone?
No monthly account fees apply, and there are no fees for breaking your term early if 31 days notice is given.
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Do any account fees apply to a Term Deposit?
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Already with Westpac?
Check rates and bonuses for new Term Deposits online.
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Sign in to check rates
https://banking.westpac.com.au/wbc/banking/handler?TAM_OP=login&URL=https%3A%2F%2Fbanking.westpac.com.au%2Fsps%2Foauth%2Foauth20%2Fauthorize%3Fclient_id%3Dwdp-eam-wbc-customer-pkce%26redirect_uri%3Dhttps%253A%252F%252Fwww.ui.westpac.com.au%252Fstatic%252Fscripts%252Foidc%252Fsilent-renew.html%253Fappname%253Dorigin%26response_type%3Dcode%26scope%3Dopenid%26state%3D00b7f2b61a174ea3905fb6b152555707%26code_challenge%3DtR33oOOTJD8bLmkJIO2Pe3Hattx_XLhhF1xFS8E6YqI%26code_challenge_method%3DS256%26prompt%3Dnone%26response_mode%3Dquery&logout=false
New to Westpac
Apply in branch. Or open an everyday account then apply for a Term Deposit online.
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Browse accounts
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Deposit about to mature?
Manage your Term Deposit online choosing to renew or withdraw.
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Sign in to manage
https://www.ui.westpac.com.au/origin/etb0/content/secure-pers/bank-accounts/savings-accounts/term-deposit/manage-term-deposit
How much could I earn?
Use our calculator to find out how much your investment could earn if your interest is paid monthly, yearly, or at maturity.
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Term Deposit calculator
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Things you should know
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