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You will now be able to conveniently manage your maturing Term Deposit online.

With Westpac Live Online Banking you:

 

 

Essentials

From one month to five years, if you want a secure way to grow your cash reserves, we have a range of terms available along with reinvestment options upon maturity. Just start with $5000 minimum investment.

Compare today's 3 special business term deposit rates for interest paid at maturity or annually

Term Amount Rate p.a.
12 < 24 months $5000 < $250000 3.00%
24 < 36 months $5000 < $250000 3.10%
36 months $5000 < $250000 3.20%

Rates shown for a term, e.g. month(s) or year(s) apply up to the start of the next term shown.

Fixed term deposits are an ideal cash investment.

  • No set-up, monthly service or management fees (other fees may apply)
  • $5,000 minimum investment amount
  • Interest payable at maturity, annually or monthly depending on term
  • Manage your Term Deposit online including comparing interest rates, changing the amount and renewing and/or closing your Term Deposit
  • Multiple reinvestment choices at maturity.

More on term deposits

If the rate applying to your term deposit is a special or standard rate and your term deposit rolls over automatically, it may be automatically re-invested at a lower rate than the initial rate (including any initial special rate). 

Customers must provide a minimum 31 days' notice to access funds prior to maturity (except in cases of hardship). Interest rate adjustments will normally apply where funds are withdrawn prior to maturity.

 Information is current as at 8th August 2016  

Rates shown for a term, e.g. month(s) or year(s) apply up to the start of the next term shown.

 

Interest paid at maturity or annually
Term $5,000 <$10,000 $10,000 <$20,000 $20,000 <$50,000 $50,000 <$100,000 $100,000 <$250,000
1 < 2 months 2% 2% 2% 2% 2%
2 < 3 months 2% 2% 2% 2% 2%
3 < 4 months 2.35% 2.35% 2.35% 2.35% 2.35%
4 < 5 months 2% 2% 2% 2% 2%
5 < 6 months 2% 2% 2% 2% 2%
6 < 7 months 2.4% 2.4% 2.4% 2.4% 2.4%
7 < 8 months 2% 2% 2% 2% 2%
8 < 9 months 2% 2% 2% 2% 2%
9 < 10 months 2% 2% 2% 2% 2%
10 < 11 months 2% 2% 2% 2% 2%
11 < 12 months 2% 2% 2% 2% 2%
12 < 24 months 3% 3% 3% 3% 3%
24 < 36 months 3.1% 3.1% 3.1% 3.1% 3.1%
36 < 48 months 3.2% 3.2% 3.2% 3.2% 3.2%
48 < 60 months 2.7% 2.7% 2.7% 2.7% 2.7%
60  months 3.1% 3.1% 3.1% 3.1% 3.1%

 

Interest paid monthly
Term $5,000 <$10,000 $10,000 <$20,000 $20,000 <$50,000 $50,000 <$100,000 $100,000 <$250,000
1  < 2 months 1.8% 1.8% 1.8% 1.8% 1.8%
2 < 3 months 1.8% 1.8% 1.8% 1.8% 1.8%
3 < 4 months 2.15% 2.15% 2.15% 2.15% 2.15%
4 < 5 months 1.8% 1.8% 1.8% 1.8% 1.8%
5 < 6 months 1.8% 1.8% 1.8% 1.8% 1.8%
6 < 7 months 2.2% 2.2% 2.2% 2.2% 2.2%
7 < 8 months 1.8% 1.8% 1.8% 1.8% 1.8%
8 < 9 months 1.8% 1.8% 1.8% 1.8% 1.8%
9 < 10 months 1.8% 1.8% 1.8% 1.8% 1.8%
10 < 11 months 1.8% 1.8% 1.8% 1.8% 1.8%
11 < 12 months 1.8% 1.8% 1.8% 1.8% 1.8%
12 < 24 months 2.8% 2.8% 2.8% 2.8% 2.8%
24 < 36 months 2.9% 2.9% 2.9% 2.9% 2.9%
36 < 48 months 3% 3% 3% 3% 3%
48 < 60 months 2.5% 2.5% 2.5% 2.5% 2.5%
60 months 2.9% 2.9% 2.9% 2.9% 2.9%

For rates on other balances, terms and interest payment frequencies please call 1300 362 742 (8am-8pm, 7 days a week).

 

Our current term deposit rates are shown above. Look out for our latest special rates marked in red. You should note that:

  •  Information is current as at 8th August 2016 
  • Rates for new or renewal term deposits are subject to change at any time. However, once a term deposit account is opened the rate applicable to the account will not change unless the deposit or any part of it is repaid early
  • Special rates are not available in conjunction with any bonus interest or other special rates offered by the bank.

 

Interest options are:

  • Interest paid at maturity is available for terms of 12 months or less
  • Interest paid monthly is available for terms of 1 to 60 months (inclusive)
  • Interest paid annually is available for terms of greater than 12 months (for terms not equalling an exact year, the remaining interest is paid at the end of the term).

 

Manage your Term Deposit online:

  • Westpac Live allows you to manage your eligible Term Deposits online during the Six Business Day Variation Period.

 

If some or all your business term deposit is repaid early:

  • In most cases an interest rate adjustment will apply
  • We reserve the right to vary the interest rate adjustment at any time
  • If interim interest has been paid and the Term Deposit is repaid before maturity, we may need to recover this interest
  • No interest will be paid if the Term Deposit is repaid within the first 7 days of a Term.

The interest rate adjustment will not apply where a term deposit is repaid prior to maturity due to the death of the depositor.

 

Call us on 1300 362 742, have a specialist call you or visit a branch:

  • To invest amounts over $250,000
  • If you want to open a term deposit for a term other than those shown below

How much can I earn?

Our term deposit calculator can help you estimate how much interest you'll earn.

To open a business term deposit online you must:

  • Have an eligible business registered in Australia
  • Provide trustee and beneficiary details if you're applying for a trust account
  • Ensure every signatory on an account is identified according to Westpac's ID standard.

 

Lock it in - You can open your new business term deposit online now. Takes less than 10 mins.  Information is current as at 8th August 2016 

Things you should know

Term Deposits & Farm Management Deposits - Terms and Conditions (PDF 109KB)

Important Information Document (PDF 119KB)

24/7 access is subject to system availability.

Credit criteria, fees, charges, terms and conditions apply. Talk to your banker for product details.

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