Westpac Term Deposit Interest Rates
Rate is applicable for deposit amounts between $5,000 and $249,999 The rate of 1.50% is 0.35% lower than the average 1.85%. Also it is 1.3% lower than the highest rate 2.80 Updated Aug, 2019. Westpac business term deposit interest rates vary based on the term and interest payment frequency that you select. If you are a Westpac customer and use online banking, you can apply for a Westpac business term deposit online.
If you’re an existing customer, you can sign into Online Banking to explore your bonus rates you may be eligible for. Special rates are highlighted in red. Rates for 1 to 6 months term. Interest paid at. No interest will be paid if the Term Deposit is repaid within the first 7 days of a Term. The interest rate adjustment will not apply where a Term Deposit is repaid prior to maturity due to the death of the depositor. Call us on 132 142 or visit a branch: To invest amounts over $2,000,000.
You may be eligible for a bonus rate on top our standard rates
Why do I need to sign in to Online Banking to check my rates?
In the past our bankers may have helped you get discretionary rates over the phone or in branch; now you can find out if you’re eligible for discretionary rates by signing into Online Banking.1
Rates may be based on factors such as your relationship with the bank and your existing balances.
You could get higher returns on your surplus cash with our range of fixed term deposits.
Our current term deposit rates are shown below. Look out for our latest special rates marked in red. You should note that:
- Information is current as at 4th June 2019
- Rates for new or renewal term deposits are subject to change at any time. However, once a term deposit account is opened the rate applicable to the account will not change unless the deposit or any part of it is repaid early
- Special rates are not available in conjunction with any bonus interest or other special rates offered by the bank.
Rates shown for a term, e.g. month(s) or year(s) apply up to the start of the next term shown.
| Term | $5,000 <$10,000 | $10,000 <$20,000 | $20,000 <$50,000 | $50,000 <$100,000 | $100,000 <$250,000 | $250,000 <$25,000,000 |
|---|---|---|---|---|---|---|
| 1 < 2 months | 1.25% | 1.25% | 1.25% | 1.25% | 1.25% | 1.25% |
| 2 < 3 months | 1.40% | 1.40% | 1.40% | 1.40% | 1.40% | 1.40% |
| 3 < 4 months | 2.00% | 2.00% | 2.00% | 2.00% | 2.00% | 2.00% |
| 4 < 5 months | 2.00% | 2.00% | 2.00% | 2.00% | 2.00% | 2.00% |
| 5 < 6 months | 1.50% | 1.50% | 1.50% | 1.50% | 1.50% | 1.50% |
| 6 < 7 months | 1.75% | 1.75% | 1.75% | 1.75% | 1.75% | 1.75% |
| 7 < 8 months | 1.50% | 1.50% | 1.50% | 1.50% | 1.50% | 1.50% |
| 8 < 9 months | 1.50% | 1.50% | 1.50% | 1.50% | 1.50% | 1.50% |
| 9 < 10 months | 1.55% | 1.55% | 1.55% | 1.55% | 1.55% | 1.55% |
| 10 < 11 months | 1.55% | 1.55% | 1.55% | 1.55% | 1.55% | 1.55% |
| 11 < 12 months | 1.55% | 1.55% | 1.55% | 1.55% | 1.55% | 1.55% |
| 12 < 24 months | 1.95% | 1.95% | 1.95% | 1.95% | 1.95% | 1.95% |
| 24 < 36 months | 1.90% | 1.90% | 1.90% | 1.90% | 1.90% | 1.90% |
| 36 < 48 months | 1.90% | 1.90% | 1.90% | 1.90% | 1.90% | 1.90% |
| 48 < 60 months | 1.90% | 1.90% | 1.90% | 1.90% | 1.90% | 1.90% |
| 60 months | 1.90% | 1.90% | 1.90% | 1.90% | 1.90% | 1.90% |
| Term | $5,000 <$10,000 | $10,000 <$20,000 | $20,000 <$50,000 | $50,000 <$100,000 | $100,000 <$250,000 | $250,000 <$25,000,000 |
|---|---|---|---|---|---|---|
| 1 < 2 months | 1.20% | 1.20% | 1.20% | 1.20% | 1.20% | 1.20% |
| 2 < 3 months | 1.35% | 1.35% | 1.35% | 1.35% | 1.35% | 1.35% |
| 3 < 4 months | 1.95% | 1.95% | 1.95% | 1.95% | 1.95% | 1.95% |
| 4 < 5 months | 1.95% | 1.95% | 1.95% | 1.95% | 1.95% | 1.95% |
| 5 < 6 months | 1.45% | 1.45% | 1.45% | 1.45% | 1.45% | 1.45% |
| 6 < 7 months | 1.70% | 1.70% | 1.70% | 1.70% | 1.70% | 1.70% |
| 7 < 8 months | 1.45% | 1.45% | 1.45% | 1.45% | 1.45% | 1.45% |
| 8 < 9 months | 1.45% | 1.45% | 1.45% | 1.45% | 1.45% | 1.45% |
| 9 < 10 months | 1.50% | 1.50% | 1.50% | 1.50% | 1.50% | 1.50% |
| 10 < 11 months | 1.50% | 1.50% | 1.50% | 1.50% | 1.50% | 1.50% |
| 11 < 12 months | 1.50% | 1.50% | 1.50% | 1.50% | 1.50% | 1.50% |
| 12 < 24 months | 1.90% | 1.90% | 1.90% | 1.90% | 1.90% | 1.90% |
| 24 < 36 months | 1.85% | 1.85% | 1.85% | 1.85% | 1.85% | 1.85% |
| 36 < 48 months | 1.85% | 1.85% | 1.85% | 1.85% | 1.85% | 1.85% |
| 48 < 60 months | 1.85% | 1.85% | 1.85% | 1.85% | 1.85% | 1.85% |
| 60 months | 1.85% | 1.85% | 1.85% | 1.85% | 1.85% | 1.85% |
For rates on other balances, terms and interest payment frequencies please call 132 142 (8am-8pm, 7 days a week).
Interest options are:
- Interest paid at maturity is available for terms of 12 months or less
- Interest paid monthly is available for terms of 1 to 60 months (inclusive)
- Interest paid annually is available for terms of greater than 12 months (for terms not equalling an exact year, the remaining interest is paid at the end of the term).
Which Bank Has The Best Term Deposit Interest Rate
If some or all your business term deposit is repaid early:
- In most cases an interest rate adjustment will apply
- We reserve the right to vary the interest rate adjustment at any time
- If interim interest has been paid and the Term Deposit is repaid before maturity, we reserve the right to recover repayment of this interest
- No interest will be paid if the Term Deposit is repaid within the first 7 days of a Term.
The interest rate adjustment will not apply where a term deposit is repaid prior to maturity due to the death of the depositor.
Call us on 132 142 or visit a branch:
- To invest amounts over $250,000
- If you want to open a Term Deposit for a term other than those shown above.
Manage your Term Deposit online:
- Westpac Live allows you to manage your eligible Term Deposits online during the Six Business Day Variation Period.
Business Term Deposit
No set-up, monthly service or management fees (other fees may apply)
Open a Business Term Deposit
It only takes 10 minutes
Renew your Term Deposit online
Manage your eligible Term Deposit online during the Six Business Day Variation Period
Things you should know
Important Information Document (PDF 119KB)
1. Any discretionary rates offered above may only be available through Westpac Live Online Banking.
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).
Westpac Term Deposit Interest Rates Today
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 3MB) and Important Information Document (PDF 119KB) before making a decision and consider whether the product is appropriate for you. Other fees, charges, terms and conditions apply.