Skip to main content Skip to main navigation
Skip to access and inclusion page Skip to search input

Easily manage your Term Deposit accounts in Online Banking or the Westpac App. Available 8am to 9.30pm Monday to Friday and 8am to 4pm Saturdays (AEST)​.

What updates can I make online?​

  • Update your maturity instructions during the Variation Period 1​
  • Select the Term Deposit duration, term and applicable interest rate before maturity​
  • Pay some or all of your funds on maturity to a linked account or other financial institution in Australia​
  • Set up notifications and alerts so you know when your Term Deposit will mature​

Manage or renew online

  • Change the term, amount, frequency of interest payments and account paid​
  • Check renewal details​
  • Renew online​

3.00% p.a. fixed rate term deposit offer

Skip the trip to a branch. Open or renew a Term Deposit account on a 12 to 23 month term and get access to a limited time offer for amounts between $5,000 and $5,000,000. T&Cs apply.

T&Cs apply. Learn more

Earn bonus interest if you’re with Westpac

You may be eligible for multiple bonus rates

1. A bonus rate, shown during the online process, added on top of your standard rate.

2. An additional 0.10% p.a. online bonus rate when you open or renew online (included in the bonus rate shown).


How-to guides

How to review your maturity instructions

  1. Tap the Term Deposit​
  2. Check the Maturity instructions are correct ​


Your Term Deposit will roll over at the end of the Variation Period1 based on the instructions.​

How to change your deposit amount​

You have 6 business days at maturity1 to renew or manage your Term Deposit.​

  1. Tap the Term Deposit​
  2. Review the Maturity instructions and tap Make changes
  3. Tap Make changes and renew account and then tap Next
  4. Update the Renewal amount
  5. Select Get rates to choose a rate and term and tap Next
  6. Review the changes and tap Renew Term Deposit​


Important: If a third party has access to your Term Deposit, they could direct funds to be paid to an account not in your name.

How to change your term​

You have 6 business days at maturity1 to renew or manage your Term Deposit​
 

  1. Tap the Term Deposit​
  2. Review the Maturity instructions and tap Make changes
  3. Tap Make changes and renew account then tap Next
  4. Enter your Renewal amount and Term
  5. Tap Get rates to choose a rate and term, then tap Next
  6. Review the changes and tap Renew Term Deposit


We’ll confirm the details of your Term Deposit renewal via email and Message Centre.

How to change the frequency of your interest payments​

You have 6 business days at maturity1 to renew or manage your Term Deposit.​
 

  1. Tap the Term Deposit​
  2. Review the Maturity instructions and tap Make changes
  3. Tap Make changes and renew account then tap Next
  4. Select an account to Withdraw funds to​
  5. Enter the frequency and account to pay then tap Next​
  6. Tap Get rates to choose a rate and term, then tap Next
  7. Review the changes and tap Renew Term Deposit.​


We’ll confirm the details of your Term Deposit renewal via email and Message Centre.

How to close a Term Deposit​

  1. Tap the Term Deposit​
  2. Go to Maturity instructions and tap Make changes
  3. Tap Close account and withdraw everything then tap Next
  4. Select linked account or external account then tap Next ​
  5. If you don’t see a linked account tab, you might not have a linked account or access to it. Check with your Administrator​
  6. Review the details then tap Close
  7. We’ll confirm your account closure via email and Message Centre.​


Important: If a third party has access to your Term Deposit, they could direct funds to be paid to an account not in your name.​


 

Things you should know
1 'Variation period' means 6 business days from the maturity date of the Term Deposit.
#Online bonus rate is only available for Term Deposits between $5,000 - $5,000,000 opened or renewed by existing customers via Online Banking. The bonus rate will be applied in conjunction with any other bonus rate that may apply. Not available for Commercial Bank, Private Bank or Westpac Institutional Bank customers, for Farm Management Deposits or Term Deposits held as security. Rate applies for a single term. Higher or lower rates may apply for subsequent terms. Rate will not be automatically applied to a renewing Term Deposit. You must provide a minimum of 31 days’ notice to access funds prior to maturity (except in cases of hardship). If the deposit or any part of it is withdrawn early, an interest rate adjustment will normally apply. We reserve the right to withdraw, amend or extend this offer at any time.