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Our best term deposit rates

Term deposits provide certainty. At the end of a fixed term, your investment earns a guaranteed return, which makes term deposits a secure savings option.

Special offer

Fixed interest offering certainty of return.

2.50% p.a. fixed rate term deposit for 10 months

Offer available to personal customers with deposits from $5,000 to $5,000,000 with interest paid at maturity. Offer available on new term deposits opened from Tuesday, 13 February 2018 to Tuesday, 27 February 2018, inclusive. Terms and conditions apply*

  • All term deposits have no set-up, monthly service or management fees
  • You get flexible options to reinvest all or part of your term deposit when it matures

3 of today's special deposit rates for interest paid at maturity or annually

Term Amount Rate p.a.
12 < 24 months $5000 < $250000 2.30%
24 < 36 months $5000 < $250000 2.40%
36 months $5000 < $250000 2.50%


Manage your Term Deposit online

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

You may be eligible for a special rate  when you renew your Term Deposit online.

Find out more

More than $250,000 to invest?

We can negotiate rates for term deposits over $250,000. Please call 1300 362 742.

More on guaranteed returns

Westpac Term Deposits are protected accounts under the Australian Government Deposit Guarantee scheme. Protection under the scheme is limited. For more information see Your return may be reduced if you withdraw funds before maturity.


Want to renew online?

You may be eligible for a special rate when you renew your Term Deposit online.

Things you should know

*Important Information: Rate is available on deposits from $5,000 to $5,000,000. Personal customers only – not available for business, corporate, institutional or government customers. Special rate will only apply to new Term Deposits and excludes funds rolled over from existing Westpac Term Deposits. Rate applies for a single term. Higher or lower rates may apply for subsequent terms. Rate is not available in conjunction with any bonus interest or other special rates offered on Westpac Term Deposits. 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 If the deposit or any part of it is withdrawn early, an interest rate adjustment will normally apply. This information does not take into account your personal needs, circumstances or financial objectives. Before making a decision, read the terms and conditions at and consider if the product is right for you. © 2017 Westpac Banking Corporation ABN 33 007 457 141 AFSL and Australian credit licence 233714.


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.

Rates are current as at 8 August 2016 and are available on deposits up to $250,000 AUD. Personal and business customers only - not available for corporate, institutional or government customers.

Rate applies for a single term. Higher or lower rates may apply for subsequent terms. Read the terms and conditions before making a decision and consider whether this product is appropriate for you. Fees and charges apply.

The rates listed above are Westpac's highest term deposit rates generally available to the public. The list of rates excludes any special offers or negotiated rates.


Term Deposits & Farm Management Deposits - Terms and Conditions (PDF 110KB)

Important Information Document (PDF 119KB)