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Term Deposit

A Westpac Term Deposit lets you invest your money with the certainty of a fixed interest rate and a choice of terms.

The important numbers

Deposit between $5,000 and $5,000,000
Earn up to 4.25% p.a. fixed rate for 12 months
18+ minimum age to open account

What you get

  • Choose a term that suits your needs (from 7 days to 5 years)

  • Know exactly what your return will be with a fixed rate of return

  • Update your maturity or renewal instructions at any time

Special offer

4.70% p.a. fixed rate for 11 months. Offer available from 1/03/2024 for a limited time only on Term Deposits opened or renewed by Westpac personal and business customers. Available on deposits of $5,000 - $5,000,000 with interest paid monthly or at maturity. 1
Things you should know

1. Special Offer
 
  • Term Deposits of $5,000 to $5,000,000 on Terms of 11 months. Interest paid monthly or at maturity.
  • Applicable to Term Deposits opened or renewed during the variation period by existing personal and business customers via Online Banking or the App Only. 
  • 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  • If the deposit or any part of it is withdrawn early, an interest rate adjustment will usually apply. 
 

2. Online Bonus Offer 
  • 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.