Summary
Double check the details before opening your account
Term Deposit
A Westpac Term Deposit lets you invest your money with the certainty of a fixed interest rate and a choice of terms.
The important numbers
| Deposit between $5,000 and $5,000,000 |
| Earn up to 4.00% p.a. fixed rate for 12 months when interest is paid at maturity |
| 18+ minimum age to open account |
What you get
Choose a term that suits your needs (from 7 days to 5 years)
Know exactly what your return will be with a fixed rate of return
Update your maturity or renewal instructions at any time
Special offer
4.65% p.a. fixed rate for 11 months. Offer available from 4/12/2024 on Term Deposits opened or renewed by Westpac personal and business customers. Available on deposits of $5,000 - $5,000,000 with interest paid monthly or at maturity.
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Things you should know
1. Special Offer
- 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- If the deposit or any part of it is withdrawn early, an interest rate adjustment will usually apply.