Deposit Protect Bond
Delay paying your deposit with a deposit bond
If you need a deposit for a property but your money isn’t immediately available, a Deposit Protect Bond (also known as a deposit bond) gives you a substitute for a cash deposit until settlement. It’s useful if you have cash tied up a term deposit, your current home or other investments and need more time to convert your assets to cash.
How a deposit bond can benefit you
- It's quick and easy to arrange
- It's economical – you only pay a one off fee
- It's flexible – you can use it at multiple auctions, purchasing land, residential or commercial properties.
Who can use a deposit bond?
- A property owner wanting to buy another property
- An investor wanting to expand their portfolio
- A first home buyer.
Who can apply for a deposit bond?
- Australian citizens
- Permanent residents.
- A Deposit Protect Bond can be issued for up to 10% of the purchase price of your property
- Short term guarantees are available for settlement terms up to 6 months.
Talk to a Westpac home loan expert on 131 900 for more details.
Things you should know
Terms and Conditions apply and are available on request. Application subject to approval and normal lending criteria. Fees and charges apply.