TERM DEPOSIT CALCULATOR
Special Offer
Up to 4.85% 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 0.20% p.a. online bonus offer2 when you open or renew online
Up to 4.90% p.a. online offer for 8 months
How your interest adds up:
4.70% p.a. Fixed Rate Special Offer1 Term Deposit for Terms of 8 months
PLUS, an additional 0.20% p.a. online bonus offer2 when you open or renew online
Offer available from 4/12/2024 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
Term Deposit rates and terms
Rates apply to deposits of $5,000 to $2,000,000.
Split-month rates may be available in-branch and if renewing a deposit online.
To open a joint Term Deposit, or Term Deposit for a trust or self-managed super fund, please visit us in branch, or contact your Relationship Manager.
| 3 months | 6 months | 12 months |
|---|---|---|
| 3.25% p.a. | 3.60% p.a. | 4.00% p.a. |
- For term deposits with interest paid at maturity. Rate may differ when interest is paid on another frequency.
- Add 0.20% p.a. to these rates if you’re already with Westpac and opening or renewing online.2
- Check for additional bonus rates when you sign in.
If you’re already with Westpac, see our special offer for eligible deposits.
Want a more flexible saving option?
Don't want to lock your money away for a fixed period? Then explore our savings accounts, offering bonus interest rates for both short-term savers and those looking to grow their balance from month to month.
Help when you need it
Tools and calculators
Things you should know
Any bonus rates offered above may only be available through Westpac Online Banking.
- Term Deposits of $5,000 to $5,000,000 on Terms of 8 or 11 months. Interest paid monthly or at maturity.
- For Online Bonus: Applicable to Term Deposits opened or renewed during the variation period by existing personal and business customers via Online Banking or the App Only.
- For Online Bonus: 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.
Term Deposit Calculator
This calculator should be used as a guide only and shouldn't be relied on for making a decision in relation to renew or open a term deposit as you should consider whether the product features suit your needs. The interest calculations on this calculator are not saving recommendations but are monthly estimates only of how much could be saved based on the information provided. This calculator doesn't take into account the impact of fees and charges, tax on interest earned, changes to interest rate or closing your account before the end of term. Calculations don't take into account all of your relevant personal circumstances and you should consider whether a term deposit is appropriate for you. If you need assistance, obtain advice from a banker or financial adviser.
How this calculator works
This is a simple interest calculator. Results vary from the actual interest earned on Westpac products due to differences in the calculation methods used.
Calculator assumptions and method
Each calculation starts on the first day of the current month and assumes the initial deposit is made on the first day of the month and assumes the account is not closed before maturity. Interest is calculated daily. The calculator allows interest payment at maturity. Total amounts (including interest earned) are rounded to the nearest cent.