Rate is applicable for deposit amounts between $5,000 and $249,999 The rate of 1.50% is 0.35% lower than the average 1.85%. Also it is 1.3% lower than the highest rate 2.80 Updated Aug, 2019. According to Westpac, when a term deposit reaches the end of its term, if no instructions have been provided at the beginning of the term or in the six days following the maturity date, then the money will be reinvested according to the same terms at the interest rate.

You may be eligible for a bonus rate on top our standard rates

Why do I need to sign in to Online Banking to check my rates?

In the past our bankers may have helped you get discretionary rates over the phone or in branch; now you can find out if you’re eligible for discretionary rates by signing into Online Banking.¹

Rates may be based on factors such as your relationship with the bank and your existing balances.

You could get higher returns on your surplus cash with our range of fixed term deposits.

Our current term deposit rates are shown below. Look out for our latest special rates marked in red. You should note that:

Information is current as at 4th June 2019
Rates for new or renewal term deposits are subject to change at any time. However, once a term deposit account is opened the rate applicable to the account will not change unless the deposit or any part of it is repaid early
Special rates are not available in conjunction with any bonus interest or other special rates offered by the bank.

Rates shown for a term, e.g. month(s) or year(s) apply up to the start of the next term shown.

Interest paid at maturity or annually
Term	$5,000 <$10,000	$10,000 <$20,000	$20,000 <$50,000	$50,000 <$100,000	$100,000 <$250,000	$250,000 <$25,000,000
1 < 2 months	1.25%	1.25%	1.25%	1.25%	1.25%	1.25%
2 < 3 months	1.40%	1.40%	1.40%	1.40%	1.40%	1.40%
3 < 4 months	2.00%	2.00%	2.00%	2.00%	2.00%	2.00%
4 < 5 months	2.00%	2.00%	2.00%	2.00%	2.00%	2.00%
5 < 6 months	1.50%	1.50%	1.50%	1.50%	1.50%	1.50%
6 < 7 months	1.75%	1.75%	1.75%	1.75%	1.75%	1.75%
7 < 8 months	1.50%	1.50%	1.50%	1.50%	1.50%	1.50%
8 < 9 months	1.50%	1.50%	1.50%	1.50%	1.50%	1.50%
9 < 10 months	1.55%	1.55%	1.55%	1.55%	1.55%	1.55%
10 < 11 months	1.55%	1.55%	1.55%	1.55%	1.55%	1.55%
11 < 12 months	1.55%	1.55%	1.55%	1.55%	1.55%	1.55%
12 < 24 months	1.95%	1.95%	1.95%	1.95%	1.95%	1.95%
24 < 36 months	1.90%	1.90%	1.90%	1.90%	1.90%	1.90%
36 < 48 months	1.90%	1.90%	1.90%	1.90%	1.90%	1.90%
48 < 60 months	1.90%	1.90%	1.90%	1.90%	1.90%	1.90%
60 months	1.90%	1.90%	1.90%	1.90%	1.90%	1.90%

Interest paid monthly
Term	$5,000 <$10,000	$10,000 <$20,000	$20,000 <$50,000	$50,000 <$100,000	$100,000 <$250,000	$250,000 <$25,000,000
1 < 2 months	1.20%	1.20%	1.20%	1.20%	1.20%	1.20%
2 < 3 months	1.35%	1.35%	1.35%	1.35%	1.35%	1.35%
3 < 4 months	1.95%	1.95%	1.95%	1.95%	1.95%	1.95%
4 < 5 months	1.95%	1.95%	1.95%	1.95%	1.95%	1.95%
5 < 6 months	1.45%	1.45%	1.45%	1.45%	1.45%	1.45%
6 < 7 months	1.70%	1.70%	1.70%	1.70%	1.70%	1.70%
7 < 8 months	1.45%	1.45%	1.45%	1.45%	1.45%	1.45%
8 < 9 months	1.45%	1.45%	1.45%	1.45%	1.45%	1.45%
9 < 10 months	1.50%	1.50%	1.50%	1.50%	1.50%	1.50%
10 < 11 months	1.50%	1.50%	1.50%	1.50%	1.50%	1.50%
11 < 12 months	1.50%	1.50%	1.50%	1.50%	1.50%	1.50%
12 < 24 months	1.90%	1.90%	1.90%	1.90%	1.90%	1.90%
24 < 36 months	1.85%	1.85%	1.85%	1.85%	1.85%	1.85%
36 < 48 months	1.85%	1.85%	1.85%	1.85%	1.85%	1.85%
48 < 60 months	1.85%	1.85%	1.85%	1.85%	1.85%	1.85%
60 months	1.85%	1.85%	1.85%	1.85%	1.85%	1.85%

For rates on other balances, terms and interest payment frequencies please call 132 142 (8am-8pm, 7 days a week).

Interest options are:

Interest paid at maturity is available for terms of 12 months or less
Interest paid monthly is available for terms of 1 to 60 months (inclusive)
Interest paid annually is available for terms of greater than 12 months (for terms not equalling an exact year, the remaining interest is paid at the end of the term).

If some or all your business term deposit is repaid early:

In most cases an interest rate adjustment will apply
We reserve the right to vary the interest rate adjustment at any time
If interim interest has been paid and the Term Deposit is repaid before maturity, we reserve the right to recover repayment of this interest
No interest will be paid if the Term Deposit is repaid within the first 7 days of a Term.

The interest rate adjustment will not apply where a term deposit is repaid prior to maturity due to the death of the depositor.

Call us on 132 142 or visit a branch:

To invest amounts over $250,000
If you want to open a Term Deposit for a term other than those shown above.

Manage your Term Deposit online:

Westpac Live allows you to manage your eligible Term Deposits online during the Six Business Day Variation Period.

Business Term Deposit

No set-up, monthly service or management fees (other fees may apply)

Open a Business Term Deposit

It only takes 10 minutes

Renew your Term Deposit online

Manage your eligible Term Deposit online during the Six Business Day Variation Period

Westpac Term Deposit Interest Rates