In this guide

  • Review
  • Details
    • Key details
    • Eligibility
  • Key features
  • How to apply
  • Your reviews
  • Ask a question
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Westpac Term Deposit
Interest rate 12 months interest rate
Up to 4.25% p.a.
Minimum opening deposit
Account keeping fee
Maximum deposit


You can invest your money for a term length between 1 month and 5 years, or choose one of Westpac's special offer terms for a better rate.

Open a Westpac term deposit with a minimum investment of $5,000. The maximum investment amount is $2,000,000. The term of your deposit can vary from 1 month to 5 years. There are no set-up or monthly fees, so you can put more towards your investment.


  • Certainty of a fixed interest rate
  • Choose from 1 month to 5 years
  • Special term deposits rates available
  • No set-up or account keeping fees
  • Interest payable at maturity, annually or monthly, depending on term
  • Flexible ways to have your deposit amount paid


  • High, minimum investment amount

In this guide

  • Review
  • Details
    • Key details
    • Eligibility
  • Key features
  • How to apply
  • Your reviews
  • Ask a question


Key details

Product Name Westpac Term Deposit
3 month interest rate 3.50%
4 month interest rate 3.55%
6 month interest rate 3.75%
7 month interest rate 3.80%
9 month interest rate 4.00%
12 month interest rate 4.25%
24 month interest rate 4.00%
36 month interest rate 4.00%
48 month interest rate 4.00%
60 month interest rate 4.00%
Minimum Opening Deposit $5,000
Minimum age requirement 14
Government guarantee Yes


Minimum Age Requirement 14
Joint account availability Yes
Min Deposit $5,000
Available to children Not available for children under 14 years of age

Key features

Invest from $5,000

The minimum investment amount is $5,000. The interest rates displayed above are based on a maximum deposit amount of $2,000,000. Deposits above $2,000,000 are possible, however you'll need to contact Westpac to discuss the interest rates that are available on deposits of this size.

A range of investment terms

You can choose terms from 1 month to 5 years.

Launch term deposit calculator

How to apply

How do I apply for the Westpac Term Deposit?

You can apply for a Westpac term deposit by visiting any Westpac branch, you can apply online, and you can apply over the phone.


  • You're at least 14 years old. Children under 14 must have at least one signatory on the account, and are unable to open a joint account.
  • You're an Australian resident

Your reviews

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Ask a question

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Alison Finder


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April 12, 2023

What is the best long term interest rate available on 100k


Alison Banney Finder

April 13, 2023

Hi Lois, you can see the current interest rates listed above in the table on this page.



February 20, 2019

What is the best interest rate for $2,000,000 for 12 months fixed?


Joshua Finder

February 24, 2019

Hi Barry,

Thanks for getting in touch with Finder. I hope all is well with you. :)

If you want to open a Westpac term deposit account, the maximum deposit you can make is $250,000. For this reason, you might want to break up your investment and open multiple accounts. We also have a list of term deposit accounts that you might want to check. You can use our table to conveniently compare term deposit rates. You can also compare based on income earned and minimum deposits. Once you found the right one for you, click on the “Go to site” green button to learn more or initiate your application.

I hope this helps. Should you have further questions, please don’t hesitate to reach out again.

Have a wonderful day!



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February 23, 2016



Shirley Liu Finder

February 24, 2016

Hi Gage,

Thanks for your question.

The minimum age to apply online is 18 years old. However, if you’re younger than this you can apply for one over the phone or within a branch.

Hope this helps.

Go to site