Our best Term Deposit rates
Special Term Deposit offer
0.30% p.a. fixed rate for 5 months
Offer available from 2nd July 2021 for a limited time only on Term Deposits opened or renewed by personal customers. Available on deposits from $5,000 - $2,000,000 with interest paid monthly or at maturity. Terms and conditions apply*.
Already with Westpac?
You may be eligible for a bonus rate on top of our standard rates
Save yourself a trip to the branch and find bonus rates in Online Banking.
Manage your Term Deposit online
- You can update your maturity or renewal instructions online at any point (you don’t need to wait for your Term Deposit to mature)
- You can also manage your Term Deposit online during the Six Business Day Variation Period.
3 of today's special deposit rates
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Deposits between $5,000 and $2,000,000 Interest rates are per annum. Choose to have interest paid monthly, yearly or at maturity.
- 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
- Compare term deposit rates (includes rates where interest is paid monthly)
- Find out more about a Westpac Term Deposit
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 apra.gov.au. Your return may be reduced if you withdraw funds before maturity.
What’s the benefit of having interest paid monthly?
You can now choose to have your interest paid monthly on all our Term Deposits. This provides you with a regular income combined with the security of a guaranteed interest rate for the length of your term. The total interest you’ll earn won't change, no matter what payment frequency you choose.
Want to renew online?
You may be eligible for a special rate when you renew your Term Deposit online.