Westpac offers term deposits with terms of 1 month to 5 years. Deposits up to $250,000 are guaranteed by the Australian government. Interest may be paid at maturity, monthly, or annually. Conditions apply. Offer excludes corporate, institutional and government customers. If you are on a special rate and your Term Deposit rolls over automatically, the Term Deposit may be automatically re-invested at a lower rate than the current interest rate. Early termination fee applies if the Term Deposit is ended before the full term. The Westpac Term Deposit could be a great pick for Aussie savers looking to open a term deposit with a big bank who have a minimum deposit of $5,000. Any catches While the Westpac Term Deposit aims to give you the best return on your savings stash during your chosen term, just keep in mind that there is an automatic rollover. They have an everyday banking account called Westpac Choice (their most popular bank account), an online savings account (Westpac eSaver) and term deposit.Other services that they offer include: credit cards, insurance, home loans, personal loans, superannuation, financial planning and share trading.
To earn a guaranteed rate of return on your funds over a fixed period.
Features and benefits
- No monthly account service fee or establishment fee1
- Competitive interest rates with fixed amounts, rates and terms
- A range of fixed investment terms available to suit your needs
- Interest paid monthly, annually, and at maturity2.
Refer to the PNG Customer Service Fees and Charges Brochure (PDF 90KB) for details.
Westpac Term Deposit Accounts
Here’s what to do
To open a Westpac personal bank account, you’ll need to provide us with a signed and completed personal account opening form, along with some current identification documents.
Westpac Term Deposit Rates
We are required to verify your:
- Full name
- Date of birth
- Residential address
- Occupation
- Signature
- Citizenship
- TIN
- Income source
Information must be verified from a combination of identification documents including national ID card, birth certificate, or passport. Download the Opening a Personal Bank Account Brochure (PDF 164KB) for a list of accepted identification documents and additional identification required for non-residents. Visit your local branch or call (+675) 322 0888 for more information.
Existing customers
Westpac Online Banking
![Westpac Term Deposit Westpac Term Deposit](https://d1ic4altzx8ueg.cloudfront.net/finder-au/wp-uploads/2016/01/Deposit-Slips-Front_.jpg)
You may have already provided necessary identification or you may need to provide additional current identification documents. Visit your local branch to get started.
Need help?
Simply speak to a Banking Representative by calling (+675) 322 0888.
Things you should know
Conditions apply. Offer excludes corporate, institutional and government customers. If you are on a special rate and your Term Deposit rolls over automatically, the Term Deposit may be automatically re-invested at a lower rate than the current interest rate.
Westpac Term Deposit
1. Early termination fee applies if the Term Deposit is ended before the full term.
2. Confirmation, Maturity, Renewal and Repayment advices sent. Once your fixed term ends, you can withdraw your funds by bank cheque, cash or direct credit into another bank account.