Manage your Term Deposit
Renew or withdraw your Term Deposit in Online Banking or the Westpac App, without having to call or visit a branch.¹
Special Offer
Up to 5.20% p.a. online offer for 12 months
How your interest adds up:
5.10% p.a. Fixed Rate Special Offer1 Term Deposit for Terms of 12 months
PLUS, an additional 0.10% p.a. online bonus offer2 when you open or renew online
12-month Special Offer available from 11/09/2026, 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, half yearly or at maturity. T&Cs Apply.
Important about special rates at maturity
T&Cs apply. If a Special Offer is available at maturity, you must review and confirm your renewal during the 6 business days variation period after maturity to be eligible, even if you’ve already provided instructions before maturity. The Online Bonus Rate, where applicable, is included in the Special Offer rate shown and is added to your term deposit interest rate when you open or renew online during the variation period. It is applied in addition to any other bonus rates you may be eligible for.
Not yet a Westpac customer? Please contact a Westpac Branch
How much could I earn?
Use our calculator to find out how much your investment could earn.
How will I know my Term Deposit is maturing?
In Online Banking or the Westpac App:
- Opt-in to get notified via email and your Online Banking Message Centre when your Term Deposit is maturing.
- Set up renewal or withdrawal instructions in advance online, then update them whenever you want to.
From the date of maturity, you’ll still have 6 business days (called the Variation Period) during which you can provide or change instructions. If no instructions are received after that time, the funds will be reinvested for the same term at the interest rate that applied on the date of maturity.
What are my options at maturity?
Open a new Term Deposit
Check rates and bonuses in Online Banking or the Westpac App, looking out for any special offers.
Take out some of your funds
You can choose a new term and fixed rate for the rest.
Take out all your funds
If you’re done saving, transfer your funds into your Westpac standard savings account or other eligible account.
Manage your Term Deposit in the Westpac App
You have 6 business days to renew or manage your Term Deposit once it matures.
- Search Manage Term Deposit in the Smart Search bar
- Select either Make changes and renew account or Close account and withdraw everything
- Tap Next
- To renew: Select the Renewal amount, Term and Interest paid. Tap Get Rates then Renew
- To close: Select the account to credit, tap Next, confirm details and then tap Close
Provide renewal instructions at any point during your term. If you choose to renew we will confirm your rate at maturity.
- Search Manage Term Deposit in the Smart Search bar
- Tap Renew at maturity or Close account and withdraw everything
- Tap Save instructions (you can update them again at any stage during your term).
Frequently asked questions
If a Special Offer is available at maturity, you must review and confirm your renewal during the 6 business days variation period after maturity to be eligible, even if instructions were provided before maturity. The Online Bonus Rate, where applicable, is included in the Special Offer shown and is added to your Term Deposit interest rate when you open or renew online during the variation period. It is applied in addition to any other bonus rates you may be eligible for.
The 0.10% p.a. online bonus rate will be applied automatically to your Term Deposit rate when you open or renew online (during the Variation Period).3
You can manage your Term Deposit in the Westpac App or Online Banking at the following times:
Monday to Friday: 8:00am – 11:30pm (Sydney time)
Saturday: 8:00am – 4:00pm (Sydney time)
Not available on public holidays.
The online bonus rate will be included within the bonus rate displayed when opening or renewing your Term Deposit. It will be applied on top of any other bonus rates you may be eligible for.
Yes, the online bonus will be added to our advertised special offer rates when you apply or renew online.
Term Deposits that cannot be managed online are not eligible for the online bonus rate.
No, it is only applied to Term Deposits opened or renewed online.
Things you should know
Any bonus rates offered above may only be available through Westpac Online Banking.
- The rate is only for the first term, and it might change later
- Interest payments paid monthly, half yearly or at maturity
- If you need to take out money early, you must give 31 days' notice unless in cases of hardship
- If you withdraw early, the interest rate might be lower
- To get the Special Offers when you renew a Term Deposit, you must review and confirm your renewal instructions during the 6 business days variation period after maturity, even if you’ve already provided instructions before maturity
- We reserve the right to withdraw or change this offer at any time.
The Online Bonus applies:
- For existing Westpac customers
- When Online Banking or the Westpac App is used to open or renew a Term Deposit during the variation period
- In conjunction with any other applicable offer.
The Online Bonus Rate is not available to those that can't open or renew online. These include:
- Some joint accounts
- Financial Institutions
- Westpac Institutional Bank customers
Additionally, the Online Bonus Rate is not available on the following products:
- Farm Management Deposits
- Term Deposits held as security