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Westpac Term Deposit

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Invest your money with the peace of mind of a fixed rate with a Westpac term deposit. Open one in 5 - 10 minutes.

Open a Westpac term deposit with a minimum investment of $5,000. The maximum investment amount is $250,000. 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.

Up to 1% p.a.

Interest rate

12 months interest rate

$5,000

Minimum opening deposit

$0

Account keeping fee

$250,000

Maximum deposit

Details

Product NameWestpac Term Deposit
3 month interest rate0.85%
4 month interest rate0.80%
6 month interest rate0.75%
7 month interest rate0.80%
9 month interest rate0.70%
12 month interest rate1.00%
24 month interest rate1.00%
36 month interest rate1.00%
48 month interest rate1.00%
60 month interest rate1.00%
Minimum Opening Deposit$5,000
Minimum Age Requirement18
The rates displayed above are interest rates paid at maturity only. We endeavour to ensure that the information on this site is current and accurate but you should confirm any information with the product or service provider and read the information they can provide.

Key features

SPECIAL OFFER: 1.00% p.a. fixed rate term deposit for 8 months

Open an 8 month Westpac Term Deposit and receive a special fixed interest rate of 1.00% p.a for balances between $5,000 and $5,000,000. Offer available for a limited time only to personal customers and for new term deposits, with interest paid at maturity. Full terms and conditions are available on Westpac's site.

Invest from $5,000

The minimum investment amount is $5,000. The interest rates displayed above are based on a maximum deposit amount of $250,000. Deposits above $250,000 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.

Eligibility

  • You're at least 18 years old
  • You're an Australian resident

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4 Comments

  1. Default Gravatar
    barry
    February 21, 2019

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

    • Avatarfinder Customer Care
      Joshua
      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. Please go to this page.

      On that page, you will see a table that allows you 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 us out again.

      Have a wonderful day!

      Cheers,
      Joshua

  2. Default Gravatar
    GAGE
    February 24, 2016

    whATS THE MINIMUM AGE OF AN ACCOUNT HOLDER

    • Avatarfinder Customer Care
      Shirley
      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.

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