Term Deposit rates
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 discretionary rates in Online Banking.
Offer available for a limited time only on new Term Deposits opened by Westpac personal customers. Available on deposits from $5,000 - $5,000,000 with interest paid at maturity. Terms and conditions apply*.
About Westpac Term Deposits
A Westpac Term Deposit lets you invest your money with the certainty of a fixed interest rate and no set up, monthly service or management fees.
- Choose a term from 1 month to 5 years
- Open a term deposit with $5,000 or more
- Manage your term deposit online with options to reinvest all or part of your term deposit when it matures
When you compare term deposit rates, be sure to check the minimum investment amount, as well as interest and maturity options, to ensure the best choice for you.
And to make your fixed deposit comparison a little easier, we've highlighted our special term deposit rates in red.
All amounts listed below are in Australian dollars; term deposit interest rates are % per annum (p.a.)
Estimate interest earned using our Term Deposit calculator.
Interest paid at maturity, annually or monthly
Special rates are highlighted in red. Interest rates are % per annum. All investment balance ranges are $5,000 < $250,000 in Australian dollars.
|Term||Interest paid at maturity or yearly||Interest paid monthly|
|1 < 2 months||1.05%||1.00%|
|2 < 3 months||1.20%||1.15%|
|3 < 4 months||1.75%||1.70%|
|4 < 5 months||1.75%||1.70%|
|5 < 6 months||1.30%||1.25%|
|6 < 7 months||1.40%||1.35%|
|7 < 8 months||1.30%||1.25%|
|8 < 9 months||1.30%||1.25%|
|9 < 10 months||1.35%||1.30%|
|10 < 11 months||1.35%||1.30%|
|11 < 12 months||1.35%||1.30%|
|12 < 24 months||1.55%||1.50%|
|24 < 36 months||1.50%||1.45%|
|36 < 48 months||1.50%||1.45%|
|48 < 60 months||1.50%||1.45%|
More on interest rates
- Term deposit interest rates shown above are current as at 16/08/2019
- Term deposit interest rates are subject to change
- Any special term deposit interest rates are not available in conjunction with any bonus interest or other special rates offered by Westpac
- If you are on a special rate and your term deposit rolls over automatically, the term deposit may be automatically re-invested at a lower rate than the current interest rate
- For rates on investment amounts above $250,000 please call 1300 362 742.
Term deposit interest rate options
- 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)
Did you know?
We can negotiate rates for deposits over $250,000 or terms less than 30 days.
Call 1300 362 742.
Want to renew online?
You may be eligible for a special rate when you renew your Term Deposit online.
Things you should know
Any discretionary rates offered above may only be available through Westpac Live Online Banking.
* Rate is available for new Term Deposits from $5,000 to $5,000,000. Personal customers only. Private Bank customers may need to contact their Relationship Manager to obtain this rate. Not available for business, corporate, institutional or government customers. 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.