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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.
10 < 10 months $5000 < $5000000 2.60%
24 < 36 months $5000 < $5000000 2.40%
36 months $5000 < $5000000 2.50%

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

Did you know

You can now renew your Term Deposit in Online Banking


Registered for Online Banking?

You may be eligible for a discretionary rate on top of our standard interest or offer rates.1

Save yourself a trip to the branch and open or renew your Term Deposit in Online Banking. Terms and Conditions and eligibility criteria apply.
 

Why do I need to sign in to Online Banking to check my rates?

In the past our bankers may have helped you get discretionary rates over the phone or in branch; now you can find out if you’re eligible for discretionary rates by signing into Online Banking.1

Rates may be based on factors such as your relationship with the bank and your existing balances.  


Calculate a term deposit interest rate, then open a new Term Deposit online in minutes or renew your existing Term Deposit in Online Banking.

 

Minimum $5,000

Maximum 60 months

Results are estimates only based on the accuracy of the information provided. The actual amounts may be higher or lower. We cannot predict things that will affect your decision such as movements in interest rates. Any calculation made by you using this calculator is intended as a guide only. If you are an existing Westpac customer you may be eligible for a discretionary rate on top of our standard interest rates, login to online banking to find your available rates1.This calculator is not intended to be your sole source of information when making a financial decision. You should consider whether you should get independent advice. We are only providing you with factual information and not any advice. Read your product T&Cs before deciding. It’s your decision whether this product is right for you.


Flexible interest payment options

Manage your Term Deposit online

Reinvestment options upon maturity

The best digital platform for Australian businesses

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
  • Multiple reinvestment choices at maturity
  • Manage your Term Deposit online including comparing interest rates, changing the amount and renewing and/or closing your Term Deposit
  • Westpac Live allows you to manage your eligible Term Deposit online during the Six Business Day Variation Period
  • Westpac Live was named Best Digital Platform 2018 for business online banking2. See your business and personal banking in one place, with one login.

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 9th October 2017


Registered for Online Banking?

You may be eligible for a discretionary rate on top of our standard interest rates. 1

Save yourself a trip to the branch and open or renew your Term Deposit in Online Banking. Terms and Conditions and eligibility criteria apply.

 

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 $250,000 <$25,000,000
1 < 2 months 1.50% 1.50% 1.50% 1.50% 1.50% 1.50%
2 < 3 months 1.70% 1.70% 1.70% 1.70% 1.70% 1.70%
3 < 4 months 2.00% 2.00% 2.00% 2.00% 2.00% 2.00%
4 < 5 months 1.85% 1.85% 1.85% 1.85% 1.85% 1.85%
5 < 6 months 1.85% 1.85% 1.85% 1.85% 1.85% 1.85%
6 < 7 months 2.05% 2.05% 2.05% 2.05% 2.05% 2.00%
7 < 8 months 1.90% 1.90% 1.90% 1.90% 1.90% 1.90%
8 < 9 months 1.90% 1.90% 1.90% 1.90% 1.90% 1.90%
9 < 10 months 1.90% 1.90% 1.90% 1.90% 1.90% 1.90%
10 < 11 months 1.90% 1.90% 1.90% 1.90% 1.90% 1.90%
11 < 12 months 1.90% 1.90% 1.90% 1.90% 1.90% 1.90%
12 < 24 months 2.30% 2.30% 2.30% 2.30% 2.30% 2.00%
24 < 36 months 2.40% 2.40% 2.40% 2.40% 2.40% 2.40%
36 < 48 months 2.50% 2.50% 2.50% 2.50% 2.50% 2.50%
48 < 60 months 2.60% 2.60% 2.60% 2.60% 2.60% 2.50%
60  months 2.80% 2.80% 2.80% 2.80% 2.80% 2.50%

 

Interest paid monthly
Term $5,000 <$10,000 $10,000 <$20,000 $20,000 <$50,000 $50,000 <$100,000 $100,000 <$250,000 $250,000 <$25,000,000
1  < 2 months 1.45% 1.45% 1.45% 1.45% 1.45% 1.45%
2 < 3 months 1.65% 1.65% 1.65% 1.65% 1.65% 1.65%
3 < 4 months 1.95% 1.95% 1.95% 1.95% 1.95% 1.95%
4 < 5 months 1.80% 1.80% 1.80% 1.80% 1.80% 1.80%
5 < 6 months 1.80% 1.80% 1.80% 1.80% 1.80% 1.80%
6 < 7 months 2.00% 2.00% 2.00% 2.00% 2.00% 1.95%
7 < 8 months 1.85% 1.85% 1.85% 1.85% 1.85% 1.85%
8 < 9 months 1.85% 1.85% 1.85% 1.85% 1.85% 1.85%
9 < 10 months 1.85% 1.85% 1.85% 1.85% 1.85% 1.85%
10 < 11 months 1.85% 1.85% 1.85% 1.85% 1.85% 1.85%
11 < 12 months 1.85% 1.85% 1.85% 1.85% 1.85% 1.85%
12 < 24 months 2.25% 2.25% 2.25% 2.25% 2.25% 1.95%
24 < 36 months 2.35% 2.35% 2.35% 2.35% 2.35% 2.35%
36 < 48 months 2.45% 2.45% 2.45% 2.45% 2.45% 2.45%
48 < 60 months 2.55% 2.55% 2.55% 2.55% 2.55% 2.45%
60 months 2.75% 2.75% 2.75% 2.75% 2.75% 2.45%

For rates on other balances, terms and interest payment frequencies please call 132 142 (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  9th October 2017
  • 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 reserve the right to recover repayment of 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 132 142 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 above

To open a business term deposit online you must:

  • Have an eligible business registered in Australia
  • Ensure every signatory on an account is identified according to Westpac's ID standard
  • For Term Deposits to be used as Security, Farm Management Deposits, Trusts or Partnerships please contact your Relationship Manager or a branch.

 

Lock it in - You can apply for a new business term deposit online now. Takes less than 10 mins.  Information is current as at 9th October 2017 

Things you should know

Term Deposits & Farm Management Deposits - Terms and Conditions (PDF 3MB)

Important Information Document (PDF 119KB)


1. Any discretionary rates offered above may only be available through Westpac Live Online Banking.

Westpac Live will be available to update Term Deposits from 8:00 am to 9.30 pm on a Business Day and 8:00am to 4:00pm Saturdays (Sydney time)

Customers must provide a minimum 31 days' notice to access funds prior to maturity (except in cases of hardship). 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).
 

Early withdrawal may reduce returns. Term Deposits are 'protected accounts' under the Financial Claims Scheme (FCS). Payments under the FCS are subject to a limit for each depositor. For more information see the APRA website at apra.gov.au. This information does not take into account your personal objectives, financial situation or needs. Read the Terms and Conditions (PDF 3MB) and Important Information Document (PDF 119KB) before making a decision and consider whether the product is appropriate for you. Other fees, charges, terms and conditions apply.

 

2. Westpac Live was named Best Digital Platform at the Australian Business Banking Awards 2018. Westpac’s Online Banking is subject to terms and conditions and may be subject to fees and charges.