Westpac Term Deposit

Moneybuddy says

The Westpac term deposit offers a fixed investment of between 1 month and 60 months with an attractive option of having interest paid monthly, annually or at maturity. This term deposit account also charges no set-up, monthly or management fees. The investment amount for a Westpac term deposit starts at $5,000.

The Basics

Interest paid Annually

Interest calculated Daily

Headline interest rate p.a. 2.85%

Monthly fee $0

Account type Term deposit

The cool stuff: features

ATM access No

EFTPOS access No

Branch access No

Internet Banking No

Age restrictions No

Cheque book facility No

Debit card No


GiroPost No

Phone access No

The Facts & Figures

Balance less than $1k (p.a.) 0%

Balance less than $5k (p.a.) 0%

Balance less than $25k (p.a.) 2.85%

Balance greater than $100k (p.a.) -

Min. balance $5,000

Min. opening deposit $5,000

Number of free elect transactions per month -

The ugly stuff: fees

Other bank ATM fee -

EFTPOS transaction fee -

Branch assistance fee -

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Warning: These comparison rates are true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

Westpac says

A Westpac Term Deposit is ideal for securing surplus cash for a set period. You know exactly what rate of return you'll receive and when to expect it.

No set-up, monthly service or management fees, competitive fixed interest rate on balances of $5,000 and above, rates on other balances, terms and interest payment frequencies available.

Features and benefits: fixed investment terms from 1 month to 60 months, interest paid monthly, annually, or at maturity, options to re-invest or access your funds are available at maturity. 4 month term = 1.85% p.a. 6 month term = 2.10% p.a. 12 month term = 2.35% p.a. 24 month term = 2.40% p.a. 36 month term = 2.50% p.a. 48 month term = 2.60% p.a. 60 month term = 2.85% p.a.


  • No set-up fees
  • no monthly or management fees
  • Competitive fixed interest rates on balances over $5,000
  • Interest paid monthly, annually or at maturity


  • Rate comparable to regular savings accounts for lower balances

Terms & conditions

Interest rate displayed is a headline rate promoting the best available, correct at time of publishing. Always check with provider directly for up to date rates available.


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