The Westpac Term Deposit pays up to 5.00% p.a. as of 18 September 2026, over a 24-month term, 65th of 394 24-month deposits tracked by BankMate. It is offered over 13 terms from 3 months to 35 months, with interest paid at maturity or annually or monthly. Its rates last changed on 3 July 2026.
5.00%p.a. · 2 years
interest at maturity or annually or monthly; from $0
Early withdrawal is not allowed.
Rates over time
Best rate per term- RBA cash rate
- Market average · 12-month deposits
- 3 months
- 6 months
- 9 months
- 1 year
- 2 years
- 3 years
Changes
4 changes since 9 Apr 2026- Term Deposit · 10 terms cut 0.25 to 0.50mixed
- 12-month 5.00 → 4.75
- 12-month 5.00 → 4.75
- 12-month 4.95 → 4.70
- 12-month 4.95 → 4.70
- 23-month 5.00 → 4.75
- 23-month 4.95 → 4.70
- 23-month 4.95 → 4.70
- 35-month 5.00 → 4.50
- 35-month 4.95 → 4.45
- 35-month 4.95 → 4.45
- Term Deposit · 24-month 5.15 → 5.00−0.15
- Term Deposit · 24-month 5.10 → 5.15The day of the RBA rise to 4.35%+0.05
- Term Deposit · 12-month 3.95 → 5.0037 days after the RBA rise to 4.10%+1.05
Rates by term
Ranked within each term- 3 months
- 3.40% · #278 of 369 3-month deposits
- 6 months
- 3.55% · #452 of 547 6-month deposits
- 9 months
- 3.70% · #324 of 500 9-month deposits
- 1 year
- 4.75% · #291 of 590 12-month deposits
- 2 years
- 5.00% · #65 of 394 24-month deposits
- 3 years
- 4.50% · #117 of 345 36-month deposits
Deposit
- Minimum deposit
- $0
- Maximum deposit
- No cap published
Interest
- Paid
- At maturity or Annually or Monthly
- Compounding
- monthly
Early withdrawal
- Before maturity
- Not allowed
About this product
A Westpac Term Deposit lets you invest your money with the certainty of a fixed interest rate and a choice of terms.