Westpac
Term Deposit
Westpac · term deposits
Provider last updated this product 2026-10-08.
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You'll complete your application on
Westpac's website. Confirm the rate and fees with them
before applying.
Term Deposit Fixed Rate Savings. After a fixed return on your investment? Open or renew a Term Deposit now online or in-branch.
Deposit rates
| Type | Rate | Term | Calculated | Applies to | Conditions | Interest |
|---|---|---|---|---|---|---|
| FIXED | 1.40% | 1 months | daily | 1 - 1 months | Interest paid at maturity | calculated daily |
| Interest paid at maturity | ||||||
| FIXED | 1.65% | 2 months | daily | 2 - 2 months | Interest paid at maturity | calculated daily |
| Interest paid at maturity | ||||||
| FIXED | 3.25% | 3 months | daily | 3 - 3 months | Interest paid at maturity | calculated daily |
| Interest paid at maturity | ||||||
| FIXED | 3.40% | 4 months | daily | 4 - 4 months | Interest paid at maturity | calculated daily |
| Interest paid at maturity | ||||||
| FIXED | 3.45% | 5 months | daily | 5 - 5 months | Interest paid at maturity | calculated daily |
| Interest paid at maturity | ||||||
| FIXED | 3.40% | 6 months | daily | 6 - 6 months | Interest paid at maturity | calculated daily |
| Interest paid at maturity | ||||||
| FIXED | 3.55% | 7 months | daily | 7 - 7 months | Interest paid at maturity | calculated daily |
| Interest paid at maturity | ||||||
| FIXED | 3.60% | 8 months | daily | 8 - 8 months | Interest paid at maturity | calculated daily |
| Interest paid at maturity | ||||||
| FIXED | 3.65% | 9 months | daily | 9 - 9 months | Interest paid at maturity | calculated daily |
| Interest paid at maturity | ||||||
| FIXED | 3.70% | 10 months | daily | 10 - 10 months | Interest paid at maturity | calculated daily |
| Interest paid at maturity | ||||||
| FIXED | 3.75% | 11 months | daily | 11 - 11 months | Interest paid at maturity | calculated daily |
| Interest paid at maturity | ||||||
| FIXED | 1.40% | 1 months | daily | 1 - 1 months | Interest paid monthly | calculated daily, paid monthly |
| Interest paid monthly | ||||||
| FIXED | 1.60% | 2 months | daily | 2 - 2 months | Interest paid monthly | calculated daily, paid monthly |
| Interest paid monthly | ||||||
| FIXED | 3.20% | 3 months | daily | 3 - 3 months | Interest paid monthly | calculated daily, paid monthly |
| Interest paid monthly | ||||||
| FIXED | 3.35% | 4 months | daily | 4 - 4 months | Interest paid monthly | calculated daily, paid monthly |
| Interest paid monthly | ||||||
| FIXED | 3.40% | 5 months | daily | 5 - 5 months | Interest paid monthly | calculated daily, paid monthly |
| Interest paid monthly | ||||||
| FIXED | 3.35% | 6 months | daily | 6 - 6 months | Interest paid monthly | calculated daily, paid monthly |
| Interest paid monthly | ||||||
| FIXED | 3.50% | 7 months | daily | 7 - 7 months | Interest paid monthly | calculated daily, paid monthly |
| Interest paid monthly | ||||||
| FIXED | 3.55% | 8 months | daily | 8 - 8 months | Interest paid monthly | calculated daily, paid monthly |
| Interest paid monthly | ||||||
| FIXED | 3.60% | 9 months | daily | 9 - 9 months | Interest paid monthly | calculated daily, paid monthly |
| Interest paid monthly | ||||||
| FIXED | 3.65% | 10 months | daily | 10 - 10 months | Interest paid monthly | calculated daily, paid monthly |
| Interest paid monthly | ||||||
| FIXED | 3.70% | 11 months | daily | 11 - 11 months | Interest paid monthly | calculated daily, paid monthly |
| Interest paid monthly | ||||||
| FIXED | 4.75% | 12 months | daily | 12 - 12 months | Interest paid at maturity | calculated daily |
| Interest paid at maturity | ||||||
| FIXED | 4.75% | 23 months | daily | 13 - 23 months | Interest paid at maturity (Annually) | calculated daily |
| Interest paid at maturity (Annually) | ||||||
| FIXED | 4.50% | 35 months | daily | 24 - 35 months | Interest paid at maturity (Annually) | calculated daily |
| Interest paid at maturity (Annually) | ||||||
| FIXED | 4.00% | 47 months | daily | 36 - 47 months | Interest paid at maturity (Annually) | calculated daily |
| Interest paid at maturity (Annually) | ||||||
| FIXED | 4.00% | 59 months | daily | 48 - 59 months | Interest paid at maturity (Annually) | calculated daily |
| Interest paid at maturity (Annually) | ||||||
| FIXED | 4.00% | 60 months | daily | 60 - 60 months | Interest paid at maturity (Annually) | calculated daily |
| Interest paid at maturity (Annually) | ||||||
| FIXED | 4.70% | 12 months | daily | 12 - 12 months | Interest paid monthly | calculated daily, paid monthly |
| Interest paid monthly | ||||||
| FIXED | 4.70% | 23 months | daily | 13 - 23 months | Interest paid monthly | calculated daily, paid monthly |
| Interest paid monthly | ||||||
| FIXED | 4.45% | 35 months | daily | 24 - 35 months | Interest paid monthly | calculated daily, paid monthly |
| Interest paid monthly | ||||||
| FIXED | 3.95% | 47 months | daily | 36 - 47 months | Interest paid monthly | calculated daily, paid monthly |
| Interest paid monthly | ||||||
| FIXED | 3.95% | 59 months | daily | 48 - 59 months | Interest paid monthly | calculated daily, paid monthly |
| Interest paid monthly | ||||||
| FIXED | 3.95% | 60 months | daily | 60 - 60 months | Interest paid monthly | calculated daily, paid monthly |
| Interest paid monthly | ||||||
| FIXED | 4.70% | 12 months | daily | 12 - 12 months | Interest paid half-yearly | calculated daily, paid half-yearly |
| Interest paid half-yearly | ||||||
| FIXED | 4.70% | 23 months | daily | 13 - 23 months | Interest paid half-yearly | calculated daily, paid half-yearly |
| Interest paid half-yearly | ||||||
| FIXED | 4.45% | 35 months | daily | 24 - 35 months | Interest paid half-yearly | calculated daily, paid half-yearly |
| Interest paid half-yearly | ||||||
| FIXED | 3.95% | 47 months | daily | 36 - 47 months | Interest paid half-yearly | calculated daily, paid half-yearly |
| Interest paid half-yearly | ||||||
| FIXED | 3.95% | 59 months | daily | 48 - 59 months | Interest paid half-yearly | calculated daily, paid half-yearly |
| Interest paid half-yearly | ||||||
| FIXED | 3.95% | 60 months | daily | 60 - 60 months | Interest paid half-yearly | calculated daily, paid half-yearly |
| Interest paid half-yearly | ||||||
| FIXED | 5.20% | 12 months | P12M | 12 - 12 months | Offer available for a limited time only on Term Deposits opened or renewed by Westpac personal and business customers. Terms and conditions apply. | calculated P12M |
| Offer available for a limited time only on Term Deposits opened or renewed by Westpac personal and business customers. Terms and conditions apply. | ||||||
| BONUS | 0.10% | - | daily | 12 - 12 months | An additional online bonus rate will be added when you open or renew online. Applies across any rate and term, as well as on our special rate offer for terms mentioned above. Rate applies for a single term. Higher or lower rates may apply for subsequent terms. Rate will not be automatically applied to a renewing Term Deposit | calculated daily |
| An additional online bonus rate will be added when you open or renew online. Applies across any rate and term, as well as on our special rate offer for terms mentioned above. Rate applies for a single term. Higher or lower rates may apply for subsequent terms. Rate will not be automatically applied to a renewing Term Deposit | ||||||
Fees
| Fee | Type | Amount | Details |
|---|---|---|---|
| Bank cheque | TRANSACTION | $10 | - |
| Bank cheque Online | TRANSACTION | $0 | - |
| Refunding a Bank cheque no longer required - original presented | TRANSACTION | $0 | - |
| Refunding / Replacing a Bank cheque - original lost, stolen or destroyed | REPLACEMENT | $0 | - |
Rate history
The figures behind this chart
| From | Until | Rate |
|---|---|---|
| 2026-07-15 | 2026-08-21 | 5.15% |
| 2026-08-22 | 2026-08-24 | 5.10% |
| 2026-08-28 | 2026-09-09 | 5.05% |
| 2026-09-12 | 2026-09-17 | 5.10% |
| 2026-09-24 | 2026-10-26 (current) | 5.20% |
Published figures as captured daily since 2026-07-15. A step is the day the provider's published figure changed; days without a published figure carry the last published value.
Features
- Fixed return: With a fixed interest rate over a fixed term, you?ll know exactly how much you?re going to earn
- Choice of terms: Pick a term from 1 month to 5 years, knowing your money will be invested securely.
- Options at maturity: Choose whether to withdraw funds or reinvest, or set up instructions in advance.
- On Term Deposits opened or renewed by a Westpac customer. T&Cs apply.
- For deposits of $5,000 to $2,000,000 on terms of 12 months.
- Personal Customers can open account either by Branch, Phone or Online.
- Statements sent includes confirmation, maturity, renewal and repayment advices
- For 12-month terms: interest can be paid monthly, half yearly or at maturity.
- Add 0.10% p.a. online bonus rate to these rates if you?re already with Westpac and opening or renewing online
- Online, Term Deposits can only be opened with a minimum term of one month, however once matured they can be renewed for terms ranging from 7 days to 5 years: if opened through a staff member, they can be established for terms as short as 7 days.
Who can apply
- otherPersonal customers of all ages. If the Account Holder is under 14, the account must be opened by an adult authorised signatory. Account Holders under 12 are not eligible for electronic access.
- residency status - Those with an Australian residential address and who are currently in Australia.
- otherOnline Application - To open a Term Deposit online, you need to be an Existing customer with a Westpac Choice account, Individual or sole trader.
Limits
- min balance - 5000.00
- max balance - 2000000.00
The provider's own documents
- Product overview › (opens in a new tab)
- Terms and conditions › (opens in a new tab)
- Eligibility criteria › (opens in a new tab)
- Fees and pricing › (opens in a new tab)
Published by the provider under the Consumer Data Right. These are their documents, not ours - they are the authority on this product.
Last updated by data holder: 2026-10-08T00:44:33Z · Product ID: TDTermDeposit