Westpac
Term Deposit
Term Deposit Fixed Rate Savings. After a fixed return on your investment? Open or renew a Term Deposit now online or in-branch.
Term depositsBank updated 21 Sept 2026
At a glance
- Best rate
- 5.20% for 12m
- 12 months
- 5.20%
- Min deposit
- $5,000
§ 01 — Rates · 42
| Type | Applies to | Term | Band | Rate | Comparison | Conditions |
|---|---|---|---|---|---|---|
| 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; Online only |
| 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 |
§ 02 — Fees · 4
| Fee | Type | Amount | When | Notes |
|---|---|---|---|---|
| Refunding / Replacing a Bank cheque - original lost, stolen or destroyed | Replacement | No fee | — | — |
| Bank cheque Online | Transaction | No fee | — | — |
| Bank cheque | Transaction | $10 | — | — |
| Refunding a Bank cheque no longer required - original presented | Transaction | No fee | — | — |
§ 03 — Features
Digital bankingFraud protectionRelationship manager
- · 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 ca…
§ 04 — Eligibility & limits
- · Residency: Those with an Australian residential address and who are currently in Australia.
- · Minimum balance $5,000
- · Personal 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.
- · Online Application - To open a Term Deposit online, you need to be an Existing customer with a Westpac Choice account, Individual or sole trader.
§ 06 — Run the numbers
Put this product through a calculator
Published by Westpac under the Consumer Data Right, last changed by them on 21 Sept 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.