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Compare business savings accounts

Compare all our business savings, term deposits and investment accounts.

Business Term Deposit
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Business Cash Reserve
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Lock one of our higher fixed interest rates for stronger returns.

Get regular access to your savings.

Rates & fees
Monthly Plan Fee/ Monthly Service Fee

Nil1

Nil1

Earn interest on business funds

Fixed interest rate for a fixed term, $5,000 minimum investment2.

Earn interest on all balances, interest is calculated daily and paid monthly.

 Interest Rates

3.00% p.a for 3 months with interest paid at maturity on deposits from $5000 to less than $250000.
 

View term deposits interest rates

 

You may be eligible for a bonus rate on top of our standard rates.Find out by signing into Online Banking.

Variable base rates p.a of 1.15% for balances more than $10,000.

View all interest rates

Interest Payable

Interest payable at maturity, annually or monthly depending on term.

Interest is calculated daily and paid monthly.4

Features
Interest earning account

 

 

Monthly balance growth required to qualify for bonus interest

N/A

N/A

Guaranteed rate of return

 

N/A

Minimum deposit

$5000

N/A

Business transaction account required to access funds5

N/A

Yes
(if you don't have one we'll open a Westpac business transaction account for you)

Open online

    

 

Sole Traders, Sole Directors and eligible business network users can open online in less than 10 mins^.

Sole Traders and Sole Directors can open online in less than 10 mins^.

Are you a not-for-profit organisation?

Are you in agribusiness?

  • Business One Plus account - Fuss free everyday banking for Agribusinesses.
  • Farm Management Deposit - Lets you build cash reserves to help better manage cash flow uncertainties. Hold farm management deposits for at least 12 months to be eligible for the taxation benefits.
Things you should know

Deposit Accounts for Business Customers Terms and Conditions (PDF 805KB)

Term Deposits & Farm Management Deposits - Terms and Conditions (PDF 271KB)

Online Banking Terms and Conditions

Find out what information you need to provide to become a customer


1. Other Transaction fees may apply depending on the nature of the transaction. For further information, please refer to the Online Banking Terms and Conditions for your selected product. 

2. Customers must provide a minimum 31 days' notice to access funds prior to maturity (except in cases of hardship). If the rate applying to your term deposit is a special or standard rate and your term deposit rolls over automatically, it may be automatically re-invested at a lower rate than the initial rate (including any initial special rate).Early withdrawal may reduce returns. 

Term Deposits are 'protected accounts' under the Financial Claims Scheme (FCS). Payments under the FCS are subject to a limit for each depositor. For more information see the APRA website at apra.gov.au. This information does not take into account your personal objectives, financial situation or needs. Read the Terms and Conditions (PDF 271KB) and before making a decision and consider whether the product is appropriate for you. Other fees, charges, terms and conditions apply.

Westpac Live will be available to update Term Deposits from 8:00 am to 9.30 pm on a Business Day and 8:00am to 4:00pm Saturdays (Sydney time).

3. Any discretionary rates offered above may only be available through Westpac Live Online Banking.

4. Balances in your account on and after the last business day of the month, including deposits made to your account on or after the last business day of the month will not be included in the interest calculation and interest rate applicable for that month, but in the interest calculation and interest rate applicable for the following month. See terms and conditions for further information

5. To be eligible to apply for Business Cash Reserve, you must hold another Westpac Business transaction account(s) in the same name as the Business Cash Reserve. Fees and charges may apply on the Westpac Business transaction account.

 

^Account opening criteria applies.