Westpac Term Deposit Rates
Simply speak to a Westpac Customer Service Representative by calling 132 032. 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. Rate is applicable for a the period greater for deposit $5,000 to $249,999 The rate of 1.75% is 0.01% higher than the average 1.74%. Also it is 0.65% lower than the highest rate 2.40 Updated Aug, 2019. Westpac offers their personal banking customers a variety of accounts to choose from. 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. Rates for new or renewal term deposits are subject to change at any time. However, once a term deposit account is opened the rate applicable to the account will not change unless the deposit or any part of it is repaid early; Rates shown for a term, e.g. Month(s) or year(s) apply up to the start of the next term shown.
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, or at maturity2.
Refer to the PNG Customer Services Fees & Charges Brochure (PDF 90KB) for details.
New customers
To open a Westpac business account, you’ll need to provide us with a signed and completed company account opening form, along with some current identification documents.
We are required to verify:
- Full name of the company
- Registered office or business address, including country
- Incorporation number/Business registration number
- Place of incorporation/registration
- Date of incorporation/registration
- Business licence number (if any)
- Source of funds
- Tax Identification Number (TIN)
- Nature and business of the company
- Ownership structure
Personal identification requirements
Under PNG banking regulations, each director, secretary, any shareholder who owns 20% or more and any person(s) authorised to operate on the account are required to meet personal identification requirements.
They will need to provide us with a signed and completed associated party form, along with some current identification documents.
Westpac Term Deposit Rates
Company and personal information must be verified from a combination of identification documents. Download the Opening a business transaction account brochure (PDF 167KB) for a list of accepted identification documents and any other requirements that you may need to meet.
Existing customers
You may have already provided necessary identification or you may need to provide some 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.
1. Early termination fee applies if the Term Deposit is ended before the full term.
Westpac Australia Term Deposit Rates
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.