TERM DEPOSIT CALCULATOR
Use our calculator to explore how interest works for a term deposit.
Special Offer
Up to 4.00% p.a. online offer for 11 months
How your interest adds up:
3.90% p.a. Fixed Rate Special Offer1 Term Deposit for Terms of 11 months
PLUS, an additional 0.10% p.a. online bonus offer2 when you open or renew online
Offer available from 19/06/2025 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 or at maturity. T&Cs Apply.
Not yet a Westpac customer? Please contact a Westpac Branch
Term Deposit rates and terms
Rates apply to deposits of $5,000 to $2,000,000.
Split-month rates may be available in-branch and if renewing a deposit online.
To open a joint Term Deposit, or Term Deposit for a trust or self-managed super fund, please visit us in branch, or contact your Relationship Manager.
| 3 months | 6 months | 12 months |
|---|---|---|
| 2.75% p.a. | 3.05% p.a. | 3.75% 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. to these rates if you’re already with Westpac and opening or renewing online.2
- Check for additional bonus rates when you sign in.
If you’re already with Westpac, see our special offer for eligible deposits.
| Interest paid monthly | Interest paid at maturity | |
|---|---|---|
| Term | Fixed rate p.a. | Fixed rate p.a. |
| 1 month | 1.25% | 1.25% |
| 2 months | 1.40% | 1.45% |
| 3 months | 2.70% | 2.75% |
| 4 months | 2.85% | 2.90% |
| 5 months | 2.95% | 3.00% |
- Add 0.10% p.a. to these rates if you’re already with Westpac and opening or renewing online.2
- Check for additional bonus rates when you sign in.
| Interest paid monthly | Interest paid at maturity | |
|---|---|---|
| Term | Fixed rate p.a. | Fixed rate p.a. |
| 6 months | 3.00% | 3.05% |
| 7 months | 3.15% | 3.20% |
| 8 months | 3.20% | 3.25% |
| 9 months | 3.25% | 3.30% |
| 10 months | 3.30% | 3.35% |
| 11 months | 3.35% | 3.40% |
- Add 0.10% p.a. to these rates if you’re already with Westpac and opening or renewing online.2
- Check for additional bonus rates when you sign in.
| Interest paid monthly | Interest paid annually | Interest paid at maturity | |
|---|---|---|---|
| Term | Fixed rate p.a. | Fixed rate p.a. | Fixed rate p.a. |
| 12 months | 3.70% | - | 3.75% |
| 13 - 23 months | 3.70% | 3.75% | - |
| 24 - 35 months | 3.45% | 3.50% | - |
| 36 - 47 months | 2.95% | 3.00% | - |
| 48 - 59 months | 2.95% | 3.00% | - |
| 60 months | 2.95% | 3.00% | - |
- Add 0.10% p.a. to these rates if you’re already with Westpac and opening or renewing online.2
- Check for additional bonus rates when you sign in.
If you’re already with Westpac, see our special offer for eligible deposits.
On Demand variable rate for all deposits: 0.05%.
An On Demand interest rate applies during the 6-business day Variation Period following the maturity of a Term Deposit, if no instructions for renewal or account closure have been received. The rate is applied from maturity up to the day when instructions are received; and after 6 days without instructions the deposit will be reinvested for the same term as previously, but at the fixed interest rate in place at the time.
Want a more flexible saving option?
Don't want to lock your money away for a fixed period? Then explore our savings accounts, offering bonus interest rates for both short-term savers and those looking to grow their balance from month to month.
Frequently asked questions
A tool that helps estimate your returns from a term deposit based on your deposit amount, interest rate, and term length.
Yes, enter your deposit amount, choose the term length, and select the relevant interest rate to calculate your potential interest.
Interest rates vary according to the deposit amount, interest payment frequency and the length of the term; please refer to our current rates table for detailed information.
Yes, the calculator can be used for various term deposit types, including standard, and special term deposits.
In Australia, interest is typically compounded annually on term deposits, but this can vary depending on the specific product. In comparison, interest paid on savings accounts is calculated monthly.
The results provided are intended to be estimates based on the details provided and may vary slightly from actual earnings.
Yes, you can input different factors to compare potential earnings from various term deposit options, including term period, interest rate and deposit amount.
Depending on the terms of your deposit, early withdrawal (before maturity) may result in interest rate adjustments and affect your return.
Please get in touch with one of our bankers or your personal finance advisor for further assistance.
Note: It's always a good idea to seek independent advice in relation to any financial decisions that may affect your financial situation or personal circumstances.
Help when you need it
Tools and calculators
Things you should know
Any bonus rates offered above may only be available through Westpac Online Banking.
- Term Deposits of $5,000 to $2,000,000 on Terms of 11 months. Interest paid monthly or at maturity.
- For Online Bonus: Applicable to Term Deposits opened or renewed during the variation period by existing personal and business customers via Online Banking or the App Only.
- For Online Bonus: Not available for customers who are not able to open or renew digitally (e.g., some joint accounts), Financial Institutions, Westpac Institutional Bank customers, Farm Management Deposits and Term Deposits held as security.
- For renewing Term Deposits, customer-initiated instructions must be provided in the variation period.
- We reserve the right to withdraw, amend or extend these offers at any time.
- Rates and offers apply for a single term.
- Higher or lower rates may apply for subsequent terms.
- 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 usually apply.
- Term Deposits opened or renewed during the variation period via Online Banking or the App only.
- The bonus rate will be applied in conjunction with any other offer that may apply.
- Not available for customers who are not able to open or renew digitally (e.g., some joint accounts), Financial Institutions, Institutional Bank customers, Farm Management Deposits and Term Deposits held as security.
- For renewing Term Deposits, customer-initiated instructions must be provided in the variation period.
- We reserve the right to withdraw, amend or extend the offer at any time.
- Rates and offer apply for a single term.
- Higher or lower rates may apply for subsequent terms.
- 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 usually apply.
Term Deposit Calculator
This calculator should be used as a guide only and shouldn't be relied on for making a decision in relation to renew or open a term deposit as you should consider whether the product features suit your needs. The interest calculations on this calculator are not saving recommendations but are monthly estimates only of how much could be saved based on the information provided. This calculator doesn't take into account the impact of fees and charges, tax on interest earned, changes to interest rate or closing your account before the end of term. Calculations don't take into account all of your relevant personal circumstances and you should consider whether a term deposit is appropriate for you. If you need assistance, obtain advice from a banker or financial adviser.
How this calculator works
This is a simple interest calculator. Results vary from the actual interest earned on Westpac products due to differences in the calculation methods used.
Calculator assumptions and method
Each calculation starts on the first day of the current month and assumes the initial deposit is made on the first day of the month and assumes the account is not closed before maturity. Interest is calculated daily. The calculator allows interest payment at maturity. Total amounts (including interest earned) are rounded to the nearest cent.