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Westpac Term Deposit

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 $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.

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Product NameWestpac Term Deposit
3 month interest rate0.07%
4 month interest rate0.07%
6 month interest rate0.15%
7 month interest rate0.20%
9 month interest rate0.20%
12 month interest rate0.25%
24 month interest rate0.30%
36 month interest rate0.30%
48 month interest rate0.30%
60 month interest rate0.30%
Minimum Opening Deposit$5,000
Minimum Age Requirement14
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: 2.25% p.a. fixed rate term deposit for 12 to 23 month terms

Open a 12 to 23 months Westpac Term Deposit or renew and receive a special fixed interest rate of 2.25% p.a for balances between $5,000 and $5,000,000. Offer available for a limited time only to personal and business customers with interest paid monthly. 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 $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

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  1. Default Gravatar
    February 21, 2019

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

    • Avatarfinder Customer Care
      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!


  2. Default Gravatar
    February 24, 2016


    • Avatarfinder Customer Care
      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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