BUSINESS TERM DEPOSIT RATES
Enjoy the certainty of receiving a guaranteed return on your investment at the end of a fixed term.
Special Offers
Up to 5.20% P.A. online offer for 12 months
How your interest adds up:
- 5.10% p.a. Fixed Rate Special Offer1 Term Deposit for Terms of 12 months
- PLUS, an additional 0.10% p.a. online bonus offer2 when you open or renew online
12-month Special Offer available from 11/09/2026, 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, half yearly or at maturity. T&Cs Apply.
Not yet a Westpac customer? Please contact a Westpac Branch
Business Term Deposit interest rates
Rates apply to deposits of $5,000 to $2,000,000.
| Term | Fixed rate p.a. |
|---|---|
| 3 months | 3.25% p.a. |
| 6 months | 3.40% p.a. |
| 12 months | 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. online bonus rate to these rates if you’re already with Westpac and opening or renewing online.2
- Check for additional bonus rates you may qualify for when you sign in.
| 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. online bonus rate to these rates if you’re already with Westpac and opening or renewing online.2
- Check for additional bonus rates you may qualify for when you sign in.
| 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. online bonus rate to these rates if you’re already with Westpac and opening or renewing online.2
- Check for additional bonus rates you may qualify for when you sign in.
| Interest paid monthly or half-yearly | 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. online bonus rate to these rates if you’re already with Westpac and opening or renewing online.2
- Check for additional bonus rates you may qualify for when you sign in.
- Check out our special rate for terms of 12 to 23 months.
How much will I earn?
Use our calculator to find out how much your investment will earn at today’s interest rates.
How does a Business Term Deposit work?
A safe investment
Avoid market fluctuations by earning a fixed interest rate on your investment, while avoiding the temptation to dip into your savings.
Your choice of terms
Pick a fixed term that matches your business cycle, from 1 month to 5 years. And choose how you want your interest to be paid.
Options at maturity
At the end of the term, choose whether to withdraw some or all of the funds or reinvest them for another term at the latest rate.
Flexibility if needed
If you really need your funds and give us enough notice, early withdrawal may be possible. But rate adjustments and reduced returns may apply.3
How do I manage my Business Term Deposit online?
- Opt-in to get notified via email and your Online Banking Message Centre when your Term Deposit is maturing.
- You can set up renewal or withdrawal instructions in advance online, then update them whenever you want to.
- Choose a new term for all or some of your funds. Or transfer funds into your eligible everyday account.
- Do it all in Online Banking or the Westpac App if you’re eligible, without having to visit a branch.
5
FAQs about Business Term Deposits
If you’re an existing Westpac customer and are registered for Online Banking, you can open a Business Term Deposit in minutes online. However, joint accounts have to be opened in Branch.
You can manage your Westpac Business Term Deposit online from 8am to 11:30pm on business days and 8am to 4pm Saturdays (Sydney time). In Online Banking you can change where interest is paid; and at maturity you can compare interest rates for different terms, change the amount deposited, and renew or close your account.
If your Business Term Deposit is held as security against a loan or bank guarantee, you can manage it online. But it can only be closed once security is no longer required.
- Terms of less than 12 months can pay monthly or on maturity
- Terms 12 months or greater can pay monthly, half-yearly, annually or at maturity.
Interim interest payments can be made:
- Directly to an account held with Westpac that is in the same name as your Business Term Deposit account; or
- Through direct credit to an account at any Australian financial institution.
Please note that interim interest payments cannot be made back into Business Term Deposit accounts.
You can withdraw your funds or reinvest:
- The whole amount (adding more if you wish),
- Just the principal (withdrawing the interest), or
- Part of the principal (receiving the remainder plus interest earned).
If we do not receive your instructions within 6 days of maturity, your Business Term Deposit will renew automatically. This means it may be re-invested at a lower rate than the original fixed interest rate.
At maturity or at the end of any notice period, the principal and any remaining interest instalments can be paid:
- Directly to an account held with Westpac that’s in the same name as your Business Term Deposit account,
- By direct credit to an account at any Australian financial institution,
- By bank cheque (fees apply), or
- In cash (advance notice may be required).
Please note, if your Business Term Deposit is held as security against a loan, it can only be closed once security is no longer required.
The general principle of a Business Term Deposit is that you are locking in a specific amount at a set interest rate for a period of time and your funds can't be accessed during that term unless you close your account.
You must provide a minimum 31 days' notice to access funds prior to maturity (except in cases of hardship as defined by us), and early withdrawal may reduce returns.
The 0.10% p.a. online bonus rate will be applied automatically to your Business Term Deposit rate when you open or renew online – so you have to be an existing customer. It’s not available in branch or by phone, or on accounts that automatically renew if we haven’t received maturity instructions.
The online bonus rate will be included within the bonus rate displayed when opening or renewing your Business Term Deposit online. It’ll be applied on top of any other bonus rates you may qualify for.
Yes, the online bonus rate will be added to our advertised special offer rates when you apply or renew online.
Some Term Deposits – such as joint accounts – have to be opened in branch. The online bonus rate only applies to Term Deposits that are opened and managed online.
Things you should know
Term Deposits & Farm Management Deposits - Terms and Conditions (PDF 429KB)
Fees, charges and terms and conditions apply.
This information is general in nature and does not take your personal objectives, circumstances or needs into account. Consider its appropriateness to these factors before acting on it, and read the Terms and Conditions (PDF 429KB) before making a decision.
- The rate is only for the first term, and it might change later
- Interest payments paid monthly, half yearly or at maturity
- If you need to take out money early, you must give 31 days' notice unless in cases of hardship
- If you withdraw early, the interest rate might be lower
- To get the Special Offers when you renew a Term Deposit, you must review and confirm your renewal instructions during the 6 business days variation period after maturity, even if you’ve already provided instructions before maturity
- We reserve the right to withdraw or change this offer at any time.
The Online Bonus applies:
- For existing Westpac customers
- When Online Banking or the Westpac App is used to open or renew a Term Deposit during the variation period
- In conjunction with any other applicable offer.
The Online Bonus Rate is not available to those that can't open or renew online. These include:
- Some joint accounts
- Financial Institutions
- Westpac Institutional Bank customers
Additionally, the Online Bonus Rate is not available on the following products:
- Farm Management Deposits
- Term Deposits held as security
3. You must provide a minimum of 31 days' notice to access funds prior to maturity (except in cases of hardship). Early withdrawal may reduce returns.
4. Customers must be registered for Online Banking and business network users must have Term Deposit entitlements turned on to be able to open or renew online on behalf of their business network.
Term Deposits are 'protected accounts' under the Australian Government's Financial Claims Scheme (FCS). Payments made under the FCS are subject to a limit for each depositor. For more information see the FCS website at https://www.fcs.gov.au.