Westpac Term Deposit

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To earn a guaranteed rate of return on your funds over a fixed period.
  1. Westpac Term Deposit Rates
  2. Westpac Term Deposit Interest Rates Today

Features and benefits

The term deposit rate is the agreed interest rate for your term deposit. It remains fixed for the term of the deposit. For example, if you deposit $5,000 for 12 months at a 2.5 per cent term deposit rate, that 2.5 per cent term deposit rate will be fixed for the entire 12 months and won’t change until the term matures. A term deposit is a type of savings account that is opened for a certain period of time. During this period your money is locked, so you won't be able to access it (penalties apply if you do). In exchange, your money earns interest according to the interest rate offered by the financial institution when opening the account. Westpac 2 Year Term Deposit. Type Fixed: Rate 1.50%: Currency: AUD: Rate is applicable for deposit amounts between $5,000 and $249,999. The rate of 1.50% is 0.35%. Westpac Term Deposit. 0.10% 0.10% 0.20% 0.20% 0.20% 0.25% 0.25% Enjoy flexible repayment and reinvestment options at the end of the term with no setup or service fee. Westpac 3 Month Term Deposit. Type Fixed: Rate 1.75%: Currency: AUD: Rate is applicable for a the period greater for deposit $5,000 to $249,999. The rate of 1.75% is.

  • 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.
Westpac

Refer to the PNG Customer Service Fees and Charges Brochure (PDF 90KB) for details.

Westpac term deposit interest rates

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.

We are required to verify your:

  1. Full name
  2. Date of birth
  3. Residential address
  4. Occupation
  5. Signature
  6. Citizenship
  7. TIN
  8. 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

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.

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.

To earn a guaranteed rate of return on your funds over a fixed period.

Features and benefits

  • No monthly account service fee or establishment fee
  • High fixed interest rate on balances of $1,000 and above1
  • A range of fixed investment terms available to suit your needs
  • Interest paid 6 monthly and at maturity2.

Fees

Refer to the Fiji Customer Service Fees Booklet (PDF 98KB)

Increased regulatory focus has led to enhanced requirements for Customer Due Diligence (CDD). With this in mind, prior to the account being opened, customers will need to:

Step 1 - Visit a Branch nearest you and bring along the following:

Westpac Term Deposit Rates

  • Certificate of registration and $35 for search fee. (As a mandatory requirement, the Bank will conduct a search to confirm ownership).
  • More information will be provided to you at this point, including mandatory forms to complete.

Step 2 - Once your search results are in place, you will be contacted by the Bank. You are required to collect and present the following documentations to the Bank for further verification:

Westpac term deposit accounts
  • Completed copy(ies) of mandatory forms. (These are forms provided to you in Step 1 above).
  • Copy of memorandum and articles, articles of association, by law etc.
  • Company Resolution - signed by an authorized individual naming authorized signatories and method of operation
  • Reserve Bank of Fiji letter (issue of shares to non-residents)
  • Investment Fiji certificate and confirmation (non – residents)
  • Valid business licence and/ hotel licence
  • TIN letter for company/organisation
  • Documentation to confirm source of funds
  • Minimum opening balance - $1000.00
  • Completed and signed forms – Please visit your nearest branch to obtain a copy of the form
  • Identification for all associated parties (A/P’s) i.e. Directors, Shareholders that own 20% or more, Company Secretary, Signatories, Agents etc. (Examples of identification noted below):

For Residents, we recommend that you provide the following identification documents (but not limited to):

Westpac Term Deposit
  • Voter ID (Citizenship, Name, Residential Address, Date of Birth, Signature & Photo);
  • TIN Letter or Joint Card (Name, Photo & TIN) and;
  • An employment letter that states your occupation and confirmation that a salary is paid to you (Occupation & Source of Funds).

For Non-Residents, we recommend that you provide the following identification documents (but not limited to):

  • A copy of your passport - Biodata and Fiji Visa page (Citizenship, Name, Date of Birth & Photo/Signature),
  • Joint Card – Fiji Revenue and Customs Services (FRCS) (Name, Photo & TIN);
  • An official ID or document that confirms your residential address - Driver's license, tenancy agreement or a Reference Letter (Residential Address);
  • An employment letter that states your occupation or role and confirmation that a salary is paid to them (Occupation & Source of Funds).

Step 3 - Need help?

Simply speak to a Westpac Customer Service Representative by calling 132 032.

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 Interest Rates Today

Westpac bank term deposit rates

1. Interest rate adjustment may apply if funds are withdrawn before maturity.

2. Once your fixed term ends, you can withdraw your funds via bank cheque, cash or direct credit into another bank account.