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Business Term Deposit

A Westpac Business Term Deposit invest surplus funds for a fixed term and enjoy the certainty of a guaranteed return.

Term depositsBank updated 28 Oct 2026
Product page ↗Fees and pricing ↗Terms ↗

At a glance

Best rate
5.20% for 12m
12 months
5.20%
Min deposit
$5,000

How it compares

This term deposit in ink, against the best that every other institution publishes for anyone to apply for. Each figure is counted the same way for all of them.

This term deposit: 5.20%Every other institution's highest, 16 in all

Best rate for a 12-month term. One dot per institution, at its highest 12-month business term deposit rate anyone can apply for; hover or tap a dot for its name.

RateThis term depositBest anywhereTypical institutionWhere it sits
Business 12-month term depositBest rate for a 12-month term5.20%5.70%AMP Bank GO 12 Month Business Term Deposit5.30%of 17 institutions15th highest of 17

Rates

Every rate Westpac publishes for this term deposit, 42 in all.

Its best rate at each term

  1. 1 mo1.40%
  2. 2 mo1.65%
  3. 3 motypical 4.60%3.25%
  4. 4 mo3.40%
  5. 5 mo3.45%
  6. 6 motypical 5.10%3.40%
  7. 7 mo3.55%
  8. 8 mo3.60%
  9. 9 mo3.65%
  10. 10 mo3.70%
  11. 11 mo3.75%
  12. 1 yrtypical 5.30%5.20%
  13. 23 mo4.75%
  14. 35 mo4.50%
  15. 47 mo4.00%
  16. 59 mo4.00%
  17. 5 yrstypical 4.00%4.00%
This term depositTypical institution's best for the term
TypeApplies toTermBandRateComparisonConditions
BonusAn 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 singl…---0.10%-paid at maturity; Online only
FixedInterest paid at maturity-1 mo-1.40%-paid at maturity; Min deposit amount
FixedInterest paid monthly-1 mo-1.40%-paid every 1 mo; Min deposit amount
FixedInterest paid at maturity-10 mo-3.70%-paid at maturity; Min deposit amount
FixedInterest paid monthly-10 mo-3.65%-paid every 1 mo; Min deposit amount
FixedInterest paid at maturity-11 mo-3.75%-paid at maturity; Min deposit amount
FixedInterest paid monthly-11 mo-3.70%-paid every 1 mo; Min deposit amount
FixedInterest paid at maturity-1 yr-4.75%-paid at maturity; Min deposit amount
FixedOffer available for a limited time only on Term Deposits opened or renewed by Westpac personal and business customers. Terms and conditions apply.-1 yr-5.20%-paid at maturity; Fixed rate p.a. when opening or renewing in-branch
FixedInterest paid monthly-1 yr-4.70%-paid every 1 mo; Min deposit amount
FixedInterest paid half-yearly-1 yr-4.70%-paid every 6 mo; Min deposit amount
FixedInterest paid at maturity-2 mo-1.65%-paid at maturity; Min deposit amount
FixedInterest paid monthly-2 mo-1.60%-paid every 1 mo; Min deposit amount
FixedInterest paid at maturity (Annually)-23 mo-4.75%-paid at maturity; Min deposit amount
FixedInterest paid monthly-23 mo-4.70%-paid every 1 mo; Min deposit amount
FixedInterest paid half-yearly-23 mo-4.70%-paid every 6 mo; Min deposit amount
FixedInterest paid at maturity-3 mo-3.25%-paid at maturity; Min deposit amount
FixedInterest paid monthly-3 mo-3.20%-paid every 1 mo; Min deposit amount
FixedInterest paid at maturity (Annually)-35 mo-4.50%-paid at maturity; Min deposit amount
FixedInterest paid monthly-35 mo-4.45%-paid every 1 mo; Min deposit amount
FixedInterest paid half-yearly-35 mo-4.45%-paid every 6 mo; Min deposit amount
FixedInterest paid at maturity-4 mo-3.40%-paid at maturity; Min deposit amount
FixedInterest paid monthly-4 mo-3.35%-paid every 1 mo; Min deposit amount
FixedInterest paid at maturity (Annually)-47 mo-4.00%-paid at maturity; Min deposit amount
FixedInterest paid monthly-47 mo-3.95%-paid every 1 mo; Min deposit amount
FixedInterest paid half-yearly-47 mo-3.95%-paid every 6 mo; Min deposit amount
FixedInterest paid at maturity-5 mo-3.45%-paid at maturity; Min deposit amount
FixedInterest paid monthly-5 mo-3.40%-paid every 1 mo; Min deposit amount
FixedInterest paid at maturity (Annually)-59 mo-4.00%-paid at maturity; Min deposit amount
FixedInterest paid monthly-59 mo-3.95%-paid every 1 mo; Min deposit amount
FixedInterest paid half-yearly-59 mo-3.95%-paid every 6 mo; Min deposit amount
FixedInterest paid at maturity-6 mo-3.40%-paid at maturity; Min deposit amount
FixedInterest paid monthly-6 mo-3.35%-paid every 1 mo; Min deposit amount
FixedInterest paid at maturity (Annually)-5 yrs-4.00%-paid at maturity; Min deposit amount
FixedInterest paid monthly-5 yrs-3.95%-paid every 1 mo; Min deposit amount
FixedInterest paid half-yearly-5 yrs-3.95%-paid every 6 mo; Min deposit amount
FixedInterest paid at maturity-7 mo-3.55%-paid at maturity; Min deposit amount
FixedInterest paid monthly-7 mo-3.50%-paid every 1 mo; Min deposit amount
FixedInterest paid at maturity-8 mo-3.60%-paid at maturity; Min deposit amount
FixedInterest paid monthly-8 mo-3.55%-paid every 1 mo; Min deposit amount
FixedInterest paid at maturity-9 mo-3.65%-paid at maturity; Min deposit amount
FixedInterest paid monthly-9 mo-3.60%-paid every 1 mo; Min deposit amount

Fees

4 fees published, grouped by when they're charged.

When you make a transaction3

  • Bank cheque Online

    This includes a customised remittance plus postage and handling

    No fee
  • Bank cheque
    $10
  • Refunding a Bank cheque no longer required - original presented

    Fee charged per cheque for Bank customers

    No fee

When particular things happen1

  • Refunding / Replacing a Bank cheque - original lost, stolen or destroyed

    Fee charged per cheque for Bank customers

    No fee

Features

Digital bankingFraud protectionRelationship manager
  • Guaranteed earnings: With a fixed interest rate over a fixed term, you'll know exactly how much you're going to earn on your investment.
  • Bonus interest rates: Get 0.10% p.a. extra for opening or renewing online. And check if you qualify for other bonus rates when you sign in.
  • Security option: You can use a Business Term Deposit as security for a loan or bank guarantee, if you apply on a PC or mobile browser.
  • 12-month Special Offer, on Term Deposits opened or renewed by existing Westpac personal or business customers. Available on deposits of $5,000 to $2,000,000 with interest paid monthly, half yearly or…
  • A safe investment: Avoid market fluctuations by earning a fixed interest rate on your investment, while avoiding the temptation to dip into your savings.
  • Customers can open account either by Branch, Phone or Online.
  • Statements sent includes confirmation, maturity, renewal and repayment advices
  • Interest is paid: Monthly, yearly or at Maturity (where the term is 12 months or less) or at the end of any notice period.
  • Add 0.10% p.a. online bonus rate to these rates if you're already with Westpac and opening or renewing online.
  • 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.

Eligibility and limits

  • Minimum age 18
  • Residency: Those with an Australian residential address and who are currently in Australia.
  • Available to businesses
  • Minimum balance $5,000
  • Ensure every signatory on an account is identified according to Westpac's ID standard

Published by Westpac under the Consumer Data Right, last changed by them on 28 Oct 2026. Figures are shown as the institution publishes them and can change without notice; confirm on their site before applying. The Finance Algorithm earns nothing from any product listed here.