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Westpac Term Deposits

Westpac Banking Corporation Term Deposits offers guaranteed rate of return with competitive interest rate to those customers who needs fixed term investment for a set period. It is available from short term to medium term and customers can choose the terms from 7 days to 60 months, and interest payment frequencies as monthly, annually or at maturity. It is ideal for securing surplus cash for a set period. Westpac Bank term deposit is available for both personal and business customers. The minimum balance to open this account is $5,000 and the maximum balance is $10,000,000. Customers can open the account either by visiting a branch or by phone or through online.

Customers can use the term deposit interest to supplement their income. Customers who chose 6 month term deposit interest payment at maturity can enjoy no set up, monthly service or management fees. Those customers can also enjoy flexible repayment and reinvestment options at the end of the term. However, the term and conditions states that if customers are on any special rate and the term deposit rolls over automatically, the deposit will be automatically re-invested at a lower rate than the prevailing current interest rate.

Westpac Term Deposits Rates

Term Deposits at Westpac are offered with competitive interest rates while the rates vary with deposit amount, payment frequency and the term of the deposit. Customers may log on and view the Westpac term deposits offered rates 2011 or latest offered rate from the rates table available on the bank's official website. The rates offered are subject to change, and thus customers are ask to check the latest offered rates every time and read the terms and conditions before making any decision. Westpac NZ also offers competitive interest rates with rates according to deposit amount, interest payment option and the length of the terms.

Interest payment options are available monthly, annually and at maturity. Payment at maturity is available for terms of 12 months or less, while monthly payment is available for terms of 1 to 60 months, and annually for terms of more than 12 months. Customers can have the interest paid either to a Westpac Bank account or any bank account in Australia in cash or through a bank cheque with fees. Using the Term Deposit calculator tool, customers can also calculate and know how much they will earn.

The set period of time for opening term deposit account at Westpac is available from 7 days to 5 years. Customers are advised that other than at maturity, they cannot withdraw funds from the account during the set period of the term unless one closes the account. To get the latest rates for deposits of more than $250,000, customers may call 1300 362 742. For complete details of Westpac Term Deposits, please log on to the official website of the bank.



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