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Invest at a fixed interest rate for higher returns

Business Term Deposit

  • Get the certainty of a fixed interest rate plus a choice of term lengths
  • Open or renew term deposits online in minutes, if you're an existing customer
  • Skip a trip to the branch by checking for discretionary rates in Online Banking1
  • No set up, Account-Keeping (formerly known as Monthly Service fee) or management fees (other fees may apply)
  • Can be used as security for a loan or bank guarantee.
  • Earn a variable rate tiered

Get instant access to your business savings

Business Cash Reserve

  • Earn interest and pay no account-keeping fees (formerly known as monthly service fees)
  • Put collected GST to work while awaiting tax time
  • Get 24/7 online access to your business funds
  • Receive a variable interest rate on all balances.

Leave your business savings alone for a bonus

Business Cash Reserve Bonus

  • Save for future needs and pay no account-keeping fees (formerly known as monthly service fees)
  • Earn interest on collected GST while awaiting tax time
  • Get 24/7 online access to your business funds
  • Receive a bonus interest rate when no withdrawals are made in a month.3


Apply online, then complete an in-branch ID check to access funds.

Skip the trip to the bank

It’s now quick and easy to open, manage and renew deposits online.

Save time, apply for or renew your FMD online

Skip the trip to a branch. Open or renew a Farm Management Deposit account in Online Banking.

T&Cs apply. Learn more

Frequently asked questions

Much depends on how accessible you want your business savings to be. The types of business savings account on offer include standard and bonus interest rate easy access savings accounts, and business term deposits – which allow you to invest funds for a fixed period at a fixed interest rate. There are also specialist accounts for sectors such as agriculture and not-for-profit.


When comparing accounts, you may wish to consider aspects such as ease of opening and access (in branch vs online), transfer fees, interest rates and fund limits. You can compare Westpac business savings accounts on our compare business savings accounts page.

Some businesses open savings accounts to ‘store away’ GST received in the run up to tax time. This can allow them to earn additional income from these amounts. There are different types of savings accounts and many other short- and long-term investment options, so we recommend you seek professional advice about the best investment option for your specific business circumstances.

Yes, Westpac business savings accounts must be linked to a transaction (or ‘current’) account. When you open a Westpac Business Cash Reserve savings account online, you can open a transaction account at the same time – subject to eligibility.


It’s worth doing some research to help you identify the best business savings account for your business needs. You could start by comparing Westpac business savings accounts on our compare all business savings accounts page.

Things you should know


This information does not take your personal objectives, circumstances or needs into account. Consider its appropriateness to these factors before acting on it. Read the disclosure documents for your selected product or service, including the Terms and Conditions or Product Disclosure Statement and consider whether the product or service is right for you.
  1. Discretionary interest rates may only be available through Westpac Online Banking.
  2. 24/7 access is subject to system availability.
  3. Bonus interest is paid when no withdrawals are made during the calendar month. Balances in your account on and after the last business day of the month, including deposits made to your account on those days, will not be included in the interest calculation and interest rate applicable for that month. They will be included in the calculations (using the applicable interest rate) for the following month. See terms and conditions for further information.