Westpac Tailored Deposits
About Westpac Tailored Deposits:
- Not available through Westpac branches
- The minimum deposit size is AUD500,000 (Note: Westpac may accept lesser amounts at its discretion)
- No fees or charges payable
- Available terms from 6 months to 10 years
- Choice of interest payment frequency (monthly, quarterly, semi-annually or annually)
- Investors can choose to have their interest on a fixed or floating basis, or a combination of both
- In the event of Westpac insolvency investors would rank as creditors in the same way as holders of other Westpac Deposits.
Australian Government Financial Claims Scheme
You may be entitled to payment under the Australian Government’s Financial Claims Scheme in the event that Westpac Banking Corporation becomes insolvent. Payments under the Financial Claims Scheme are subject to a limit of AUD250,000 for each depositor for eligible deposits held in Westpac Banking Corporation.
Our investment is a term deposit with Westpac, providing you with the security of investing with one of the highest rated banks in the world.
You can tailor your Westpac Tailored Deposit to your needs by choosing:
- the amount of your Westpac Tailored Deposit (subject to a minimum of AUD500,000; Note: Westpac may accept lesser amounts at its discretion)
- the Term of your Westpac Tailored Deposit (6 months to 10 years)
- the payment frequency (monthly, quarterly, semi-annually or annually)
- whether you want to receive a fixed rate or a floating rate of interest or a combination of both; and
- whether you want to have principal variations during the term.
This flexibility gives you the ability to align your deposit arrangements with your cash-flow requirements.
Things you should know
This information does not take into account your personal objectives, financial situation or needs so you should consider its appropriateness having regard to these factors before acting on it. You should read the Product Disclosure Statement before deciding considering an investment in this product.