BUSINESS TERM DEPOSIT RATES
Special Offer
Up to 4.75% p.a. online offer for 11 months
How your interest adds up:
4.65% p.a. Fixed Rate Special Offer1 Term Deposit for Terms of 11 months
PLUS, an additional 0.10% p.a. online bonus offer2 when you open or renew online
Offer available from 26/09/2024 for a limited time only on Term Deposits opened or renewed by existing Westpac personal or business customers. Available on deposits of $5,000 to $5,000,000 with interest paid monthly or at maturity. T&Cs Apply.
Not yet a Westpac customer? Please contact a Westpac Branch
Business Term Deposit interest rates
Rates apply to deposits of $5,000 to $2,000,000.
| Interest paid monthly | Interest paid annually or at maturity | |
|---|---|---|
| Term | Fixed rate p.a. | Fixed rate p.a. |
| 1 month | 1.25% | 1.25% |
| 2 months | 1.40% | 1.45% |
| 3 months | 3.20% | 3.25% |
| 4 months | 3.30% | 3.35% |
| 5 months | 3.40% | 3.45% |
- Add 0.10% p.a. online bonus rate to these rates if you’re already with Westpac and opening or renewing online.2
- Check for additional bonus rates you may qualify for when you sign in.
| Interest paid monthly | Interest paid annually or at maturity | |
|---|---|---|
| Term | Fixed rate p.a. | Fixed rate p.a. |
| 6 months | 3.55% | 3.60% |
| 7 months | 3.55% | 3.60% |
| 8 months | 3.75% | 3.80% |
| 9 months | 3.95% | 4.00% |
| 10 months | 3.95% | 4.00% |
| 11 months | 3.95% | 4.00% |
- Add 0.10% p.a. online bonus rate to these rates if you’re already with Westpac and opening or renewing online.2
- Check for additional bonus rates you may qualify for when you sign in.
| Interest paid monthly | Interest paid annually or at maturity | |
|---|---|---|
| Term | Fixed rate p.a. | Fixed rate p.a. |
| 12 - 23 months | 3.95% | 4.00% |
| 24 - 35 months | 3.75% | 3.80% |
| 36 - 47 months | 3.55% | 3.60% |
| 48 - 59 months | 3.55% | 3.60% |
| 60 months | 3.55% | 3.60% |
- Add 0.10% p.a. online bonus rate to these rates if you’re already with Westpac and opening or renewing online.2
- Check for additional bonus rates you may qualify for when you sign in.
- Check out our special rate for terms of 12 to 23 months.
How much will I earn?
Use our calculator to find out how much your investment will earn at today’s interest rates.
How does a Business Term Deposit work?
A safe investment
Avoid market fluctuations by earning a fixed interest rate on your investment, while avoiding the temptation to dip into your savings.
Your choice of terms
Pick a fixed term that matches your business cycle, from 1 month to 5 years. And choose how you want your interest to be paid.
Options at maturity
At the end of the term, choose whether to withdraw some or all of the funds or reinvest them for another term at the latest rate.
Flexibility if needed
If you really need your funds and give us enough notice, early withdrawal may be possible. But rate adjustments and reduced returns may apply.3
How do I manage my Business Term Deposit online?
- Opt-in to get notified via email and your Online Banking Message Centre when your Term Deposit is maturing.
- You can set up renewal or withdrawal instructions in advance online, then update them whenever you want to.
- Choose a new term for all or some of your funds. Or transfer funds into your eligible everyday account.
- Do it all in Online Banking or the Westpac App if you’re eligible, without having to visit a branch.
5
Things you should know
Term Deposits & Farm Management Deposits - Terms and Conditions (PDF 274KB)
Fees, charges and terms and conditions apply.
This information is general in nature and does not take your personal objectives, circumstances or needs into account. Consider its appropriateness to these factors before acting on it, and read the Terms and Conditions (PDF 274KB) before making a decision.
- Term Deposits of $5,000 to $5,000,000 on Terms of 11 months. Interest paid monthly or at maturity.
- Applicable to Term Deposits opened or renewed during the variation period by existing personal and business customers via Online Banking or the App Only.
- Not available for customers who are not able to open or renew digitally (e.g., some joint accounts), Financial Institutions, Westpac Institutional Bank customers, Farm Management Deposits and Term Deposits held as security.
- For renewing Term Deposits, customer-initiated instructions must be provided in the variation period.
- We reserve the right to withdraw, amend or extend these offers at any time.
- Rates and offers apply for a single term.
- Higher or lower rates may apply for subsequent terms.
- You must provide a minimum of 31 days’ notice to access funds prior to maturity (except in cases of hardship).
- If the deposit or any part of it is withdrawn early, an interest rate adjustment will usually apply.
- Term Deposits opened or renewed during the variation period via Online Banking or the App only.
- The bonus rate will be applied in conjunction with any other offer that may apply.
- Not available for customers who are not able to open or renew digitally (e.g., some joint accounts), Financial Institutions, Institutional Bank customers, Farm Management Deposits and Term Deposits held as security.
- For renewing Term Deposits, customer-initiated instructions must be provided in the variation period.
- We reserve the right to withdraw, amend or extend the offer at any time.
- Rates and offer apply for a single term.
- Higher or lower rates may apply for subsequent terms.
- You must provide a minimum of 31 days’ notice to access funds prior to maturity (except in cases of hardship).
- If the deposit or any part of it is withdrawn early, an interest rate adjustment will usually apply.
3. You must provide a minimum of 31 days' notice to access funds prior to maturity (except in cases of hardship). Early withdrawal may reduce returns.
4. Customers must be registered for Online Banking and business network users must have Term Deposit entitlements turned on to be able to open or renew online on behalf of their business network.
Term Deposits are 'protected accounts' under the Australian Government's Financial Claims Scheme (FCS). Payments made under the FCS are subject to a limit for each depositor. For more information see the FCS website at https://www.fcs.gov.au.