Westpac term deposits
Westpac has one term deposit that BankMate tracks, with 39 options: 17 terms from 1 month to 5 years, interest paid at maturity, monthly or half-yearly.
Term deposit · 17 terms
Term Deposit
5.20%p.a. · 1 year
interest at maturity or half-yearly or monthly; from $5,000
121st of 401 12-month deposits
Needs a Westpac account for this rate.
Rates by term and how interest is paid
- At maturity3.25%
- Monthly3.20%
- Half-yearly–
- Terms
- 1 month to 5 years
- Minimum deposit
- $5,000
- Maximum deposit
- $2,000,000
- To break it early
- 31 days' notice
- 1 month
- 1.40% · #39 of 62 1-month deposits
- 2 months
- 1.65% · #40 of 68 2-month deposits
- 3 months
- 3.25% · #129 of 164 3-month deposits
- 4 months
- 3.40% · #64 of 88 4-month deposits
- 5 months
- 3.45% · #53 of 79 5-month deposits
- 6 months
- 3.40% · #152 of 180 6-month deposits
- 7 months
- 3.55% · #65 of 92 7-month deposits
- 8 months
- 3.60% · #53 of 81 8-month deposits
- 9 months
- 3.65% · #115 of 149 9-month deposits
- 10 months
- 3.70% · #54 of 86 10-month deposits
- 1 year
- 5.20% · #121 of 401 12-month deposits
- 2 years
- 4.50% · #143 of 255 24-month deposits
- 3 years
- 4.00% · #134 of 221 36-month deposits
- 4 years
- 4.00% · #52 of 125 48-month deposits
- 5 years
- 4.00% · #50 of 124 60-month deposits
- Minimum deposit
- $5,000
- Maximum deposit
- $2,000,000
- Paid
- At maturity or Half-yearly or Monthly
- Compounding
- annually or daily
- Notice
- 31 days' notice
- Before maturity
- you must provide us with at least 31 days' notice to close your Account prior to Maturity, unless hardship applies, as assessed by Westpac. … Less than 7 days after the beginning of the term: No interest is paid. … Less than 20% of the term has elapsed: 90% of the interest rate … 20% to 39.99%: 80% … 40% to 59.99%: 60% … 60% to 79.99%: 40% … 80% to 99.99%: 20%
- Read from
- Westpac's own site, 28 October 2026
July 20261 change
- 3Fri
- 3 terms cut 0.25 to 0.50−0.50 to −0.25
12-month, paid at maturity 5.00 4.75 −0.25 12-month, paid monthly or half-yearly 4.95 4.70 −0.25 23-month, paid at maturity 5.00 4.75 −0.25 23-month, paid monthly or half-yearly 4.95 4.70 −0.25 35-month, paid at maturity 5.00 4.50 −0.50 35-month, paid monthly or half-yearly 4.95 4.45 −0.50
Term Deposit Fixed Rate Savings. After a fixed return on your investment? Open or renew a Term Deposit now online or in-branch.
Notes on Westpac term deposits
to leave a note.
As of 1 November 2026, Westpac has one term deposit product tracked by BankMate, over 17 terms from 1 month to 5 years. Its highest rate is 5.20% p.a. on the Term Deposit for 1 year, 121st of 401 12-month deposits — a term deposit rate means nothing without its term, so each deposit is ranked only against others of the same term. Its rates last changed on 3 July 2026. From the provider's Consumer Data Right feed, refreshed nightly.