Westpac
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Westpac 1 Year Term Deposit


Type Fixed
Rate 2.30%
Currency AUD

New and existing customers can apply directly online from their bank website:  http://www.westpac.com.au

- You can open this account in one of their many branches in Australia. You can find your nearest branch within their bank website.

- You may contact them by telephone directly for bank accounts on 1300362742 or on their general line at 132 032  

What are the terms and requirements to open a Westpac 1 Year Term Deposit online:

To apply online, you must be 18 years or older and an Australian resident. As at 2011, terms range from 30 days to 5 years and deposits require a minimum of $5000 up to $250,000.

Information on Westpac 1 Year Term Deposit Rates:

Westpac Bank is a Authorised Deposit-taking Institutions (ADIs) in Australia and when it sets its 12 month/1 year term rates it factors in a variety of factors. These factors include the Reserve Bank of Australia and its monetary policy decisions and future forecasts. In addition Westpac net interest margins, funding and liquidity regulatory requirements as well competition also influence interest rates set. Sometimes for banks, average wholesale funding costs can be expensive and they may focus more on stable funding ratio with a focus on customer deposits which may also influence rates.

The interest rate below is applicable for a the period greater then 12 up to 24 months and for deposits of for greater then $5,000 to less than $249,999.  


The rate of 2.30% is 0.36% higher than the average 1.94%. Also it is 0.55 % lower than the highest rate 2.85 Updated Jun, 2018

on Westpac's secure website

New and existing customers can apply directly online from their bank website:  http://www.westpac.com.au

- You can open this account in one of their many branches in Australia. You can find your nearest branch within their bank website.

- You may contact them by telephone directly for bank accounts on 1300362742 or on their general line at 132 032  

What are the terms and requirements to open a Westpac 1 Year Term Deposit online:

To apply online, you must be 18 years or older and an Australian resident. As at 2011, terms range from 30 days to 5 years and deposits require a minimum of $5000 up to $250,000.

Information on Westpac 1 Year Term Deposit Rates:

Westpac Bank is a Authorised Deposit-taking Institutions (ADIs) in Australia and when it sets its 12 month/1 year term rates it factors in a variety of factors. These factors include the Reserve Bank of Australia and its monetary policy decisions and future forecasts. In addition Westpac net interest margins, funding and liquidity regulatory requirements as well competition also influence interest rates set. Sometimes for banks, average wholesale funding costs can be expensive and they may focus more on stable funding ratio with a focus on customer deposits which may also influence rates.

The interest rate below is applicable for a the period greater then 12 up to 24 months and for deposits of for greater then $5,000 to less than $249,999.  


The rate of 2.30% is 0.36% higher than the average 1.94%. Also it is 0.55 % lower than the highest rate 2.85 Updated Jun, 2018

on Westpac's secure website

Type Fixed
Rate 2.30%
Currency AUD

Compare Westpac Deposit rates

Account Name Rate
Westpac 60 Month Term Deposit 2.80%
Westpac 2 Year Term Deposit 2.60%
Westpac 6 Month Term Deposit 2.05%

Compare 1 year rates in Australia

Account Name Rate
Bank Australia 1 Year Term Deposit 2.85%
ING Direct Australia 1 Year Term Deposit 2.75%
UBank 1 Year Term Deposit 2.74%

Westpac Discussion

  • Q: Is 2.45% the best you can do? $100,000

    Reply peter from Australia