In this guide

  • Review
  • Details
    • Key details
    • Eligibility
  • Key features
  • How to apply
  • Compare other business term deposit accounts
  • Your reviews
  • Ask a question
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Westpac Business Term Deposit

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Westpac Business Term Deposit
Interest rate 12 months interest rate
Up to 4.25% p.a.
Minimum opening deposit
$5,000
Account keeping fee
$0
Maximum deposit
$250,000

Summary

Choose from a range of term lengths and earn a fixed return on your business cash.

The Westpac Business Term Deposit offers a choice of term lengths between 1 month and 5 years, with a minimum investment of $5,000. Westpac regularly offers special, higher rates on select term lengths.

Pros

  • 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

Cons

  • High, minimum investment amount

In this guide

  • Review
  • Details
    • Key details
    • Eligibility
  • Key features
  • How to apply
  • Compare other business term deposit accounts
  • Your reviews
  • Ask a question

Details

Key details

Product Name Westpac Business 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 18
Government guarantee Yes

Eligibility

Minimum Age Requirement 18
Joint account availability Yes
Min Deposit $5,000
Available to children Not available for children

Key features

Secure your interest rate

Westpac offers three fixed term deposit rates: from 4.25% p.a. for 12 months, 4% p.a. for 24-36 months and 4% p.a. for 36 months.

Interest payments

Depending on your term and the option you choose, interest is payable monthly, annually or at maturity. The rates in the table above are for interest paid on maturity.

Launch term deposit calculator


How to apply

Eligibility

Eligible Australian business owners must provide a current ABN, ACN, ABRN or ARSN to apply for a Westpac Business Term Deposit. Applications must be made by an individual acting on behalf of an Australian Business:

  • Of at least 18 years old;
  • Currently residing within the country;
  • With a term deposit of minimum $5,000

Compare other business term deposit accounts

Name 3 Mths p.a. 4 Mths p.a. 5 Mths p.a. 6 Mths p.a. 7 Mths p.a. 12 Mths p.a. 24 Mths p.a.
Judo Bank Business Term Deposit
$1,000 min. deposit
3 Mths p.a.
4.85%
4 Mths p.a.
-
5 Mths p.a.
-
6 Mths p.a.
5.10%
7 Mths p.a.
-
12 Mths p.a.
5.10%
24 Mths p.a.
4.85%
Go to siteMore Info
Westpac Business Term Deposit
$5,000 min. deposit$250,000 max. deposit
3 Mths p.a.
3.50%
4 Mths p.a.
3.55%
5 Mths p.a.
3.65%
6 Mths p.a.
3.75%
7 Mths p.a.
3.80%
12 Mths p.a.
4.25%
24 Mths p.a.
4.00%
More Info
ME Business Term Deposit
$5,000 min. deposit
3 Mths p.a.
2.05%
4 Mths p.a.
4.35%
5 Mths p.a.
0.85%
6 Mths p.a.
4.50%
7 Mths p.a.
1.35%
12 Mths p.a.
4.60%
24 Mths p.a.
3.10%
More Info
Commonwealth Bank Business Term Deposit
$5,000 min. deposit
3 Mths p.a.
3.45%
4 Mths p.a.
3.50%
5 Mths p.a.
3.60%
6 Mths p.a.
3.70%
7 Mths p.a.
3.75%
12 Mths p.a.
4.25%
24 Mths p.a.
3.95%
More Info
ANZ Business Notice Term Deposit
$5,000 min. deposit
3 Mths p.a.
3.50%
4 Mths p.a.
3.15%
5 Mths p.a.
3.20%
6 Mths p.a.
4.10%
7 Mths p.a.
3.40%
12 Mths p.a.
4.50%
24 Mths p.a.
3.90%
More Info
Suncorp Business Saver Account flexiRates
3 Mths p.a.
4.20%
4 Mths p.a.
-
5 Mths p.a.
-
6 Mths p.a.
4.60%
7 Mths p.a.
-
12 Mths p.a.
4.70%
24 Mths p.a.
-
More Info
ING Business Term Deposit
$10,000 min. deposit
3 Mths p.a.
0.50%
4 Mths p.a.
0.50%
5 Mths p.a.
-
6 Mths p.a.
1.50%
7 Mths p.a.
0.80%
12 Mths p.a.
2.00%
24 Mths p.a.
2.40%
More Info
Arab Bank Business Fixed Term Deposit
$1 min. deposit
3 Mths p.a.
3.95%
4 Mths p.a.
3.70%
5 Mths p.a.
3.70%
6 Mths p.a.
4.50%
7 Mths p.a.
-
12 Mths p.a.
4.25%
24 Mths p.a.
3.80%
AMP Business Term Deposit
$5,000 min. deposit$24,999 max. deposit
3 Mths p.a.
4.70%
4 Mths p.a.
4.70%
5 Mths p.a.
4.50%
6 Mths p.a.
4.90%
7 Mths p.a.
4.75%
12 Mths p.a.
4.85%
24 Mths p.a.
4.15%
Bank Australia Business Term Deposits
Green Company
3 Mths p.a.
4.70%
4 Mths p.a.
-
5 Mths p.a.
-
6 Mths p.a.
5.00%
7 Mths p.a.
-
12 Mths p.a.
4.85%
24 Mths p.a.
4.50%
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