Westpac term deposit rates
17 terms published on 10 Oct 2026, best 5.20% for 12 months, from Westpac’s own Consumer Data Right feed.
Westpac at a glance
Today’s rates17 terms · read 10 Oct 2026
| Term | Rate | Rank | vs median | vs best | Last change | This rate | Min. deposit | Product |
|---|---|---|---|---|---|---|---|---|
| 1mo | 1.40% | joint #20 of 33 | −0.10 | −2.70 | — | same on every day read since 26 Aug 2026 (44 of 46 days read) | $5,000 | Term Deposit |
| 2mo | 1.65% | joint #20 of 36 | −0.10 | −2.80 | — | same on every day read since 26 Aug 2026 (44 of 46 days read) | $5,000 | Term Deposit |
| 3mo | 3.25% | joint #60 of 68 | −1.30 | −2.00 | — | same on every day read since 26 Aug 2026 (44 of 46 days read) | $5,000 | Term Deposit |
| 4mo | 3.40% | joint #42 of 49 | −1.25 | −2.00 | — | same on every day read since 26 Aug 2026 (44 of 46 days read) | $5,000 | Term Deposit |
| 5mo | 3.45% | joint #37 of 50 | −0.85 | −1.75 | — | same on every day read since 26 Aug 2026 (44 of 46 days read) | $5,000 | Term Deposit |
| 6mo | 3.40% | joint #64 of 73 | −1.60 | −2.05 | — | same on every day read since 26 Aug 2026 (44 of 46 days read) | $5,000 | Term Deposit |
| 7mo | 3.55% | joint #37 of 43 | −1.40 | −1.90 | — | same on every day read since 26 Aug 2026 (44 of 46 days read) | $5,000 | Term Deposit |
| 8mo | 3.60% | joint #32 of 39 | −0.80 | −1.65 | ▼ −1.45 29 Aug | in effect since 29 Aug 2026 | $5,000 | Term Deposit |
| 9mo | 3.65% | joint #52 of 60 | −1.15 | −1.75 | — | same on every day read since 26 Aug 2026 (44 of 46 days read) | $5,000 | Term Deposit |
| 10mo | 3.70% | joint #29 of 40 | −0.30 | −1.65 | — | same on every day read since 26 Aug 2026 (44 of 46 days read) | $5,000 | Term Deposit |
| 11mo | 3.75% | joint #32 of 45 | −0.25 | −1.70 | — | same on every day read since 26 Aug 2026 (44 of 46 days read) | $5,000 | Term Deposit |
| 1yr | 5.20% | joint #44 of 75 | −0.05 | −0.40 | ▲ +0.10 22 Sep | in effect since 22 Sep 2026 | $5,000 | Term Deposit |
| 23mo | 4.75% | joint #4 of 17 | +0.45 | −0.50 | — | same on every day read since 26 Aug 2026 (44 of 46 days read) | $5,000 | Term Deposit |
| 35mo | 4.50% | joint #4 of 15 | +0.20 | −0.65 | — | same on every day read since 26 Aug 2026 (44 of 46 days read) | $5,000 | Term Deposit |
| 47mo | 4.00% | #1 of 2 | +0.13 | best | — | same on every day read since 26 Aug 2026 (44 of 46 days read) | $5,000 | Term Deposit |
| 59mo | 4.00% | #1 of 3 | +0.45 | best | — | same on every day read since 26 Aug 2026 (44 of 46 days read) | $5,000 | Term Deposit |
| 5yr | 4.00% | joint #14 of 31 | median | −1.50 | — | same on every day read since 26 Aug 2026 (44 of 46 days read) | $5,000 | Term Deposit |
“Rank”, “vs median” and “vs best” compare Westpac with every bank that publishes the same term today. “This rate” is the first day our daily read showed the current rate — a rate that changed between two reads is dated to the first read that showed it.
What Westpac publishes about its products4 term deposit products · as published 10 Oct 2026
| Product | Interest paid | Min. deposit | Max. deposit | Fixed-rate terms | Links |
|---|---|---|---|---|---|
| Term Deposit | at maturity, monthly, half-yearly | $5,000 | not stated | 17 | product page · terms · fees · eligibility |
Term Deposit: eligibility, conditions and features
- Eligibility
- Personal customers of all ages. If the Account Holder is under 14, the account must be opened by an adult authorised signatory. Account Holders under 12 are not eligible for electronic access.; residency: Those with an Australian residential address and who are currently in Australia.; Online Application - To open a Term Deposit online, you need to be an Existing customer with a Westpac Choice account, Individual or sole trader.
- Conditions
- min balance 5000.00; max balance 2000000.00
- Features
- other — Fixed return: With a fixed interest rate over a fixed term, you?ll know exactly how much you?re going to earn; other — Choice of terms: Pick a term from 1 month to 5 years, knowing your money will be invested securely.; digital banking — Easy to manage: Easily view and manage your investment in Online Banking and the Westpac App.; other — Options at maturity: Choose whether to withdraw funds or reinvest, or set up instructions in advance.; other — On Term Deposits opened or renewed by a Westpac customer. T&Cs apply.; other — For deposits of $5,000 to $2,000,000 on terms of 12 months.; other — Personal Customers can open account either by Branch, Phone or Online.; other — Statements sent includes confirmation, maturity, renewal and repayment advices; fraud protection — The product includes limited fraud protection features.; relationship management — Relationship management is available for eligible customers.
- The bank’s description
- Term Deposit Fixed Rate Savings. After a fixed return on your investment? Open or renew a Term Deposit now online or in-branch.
- Interest calculated
- daily or yearly
Also published, not ranked here: Farm Management Deposit account business (product page); Business Term Deposit business (product page); Foreign Currency Term Deposit other (product page).
Every line is the bank’s own statement in its feed, read that day — nothing is inferred, though some statements are shortened here (an ellipsis or a “shortened” mark shows where, and long lists are capped): the full text is on the bank’s own pages linked above. Early-withdrawal terms appear under conditions or features when a bank states them.
Rate historyevery sweep day since 26 Aug 2026 · 46 days · 17 terms
3mo 3.25% today
26 Aug 202610 Oct 2026
4mo 3.40% today
26 Aug 202610 Oct 2026
6mo 3.40% today
26 Aug 202610 Oct 2026
7mo 3.55% today
26 Aug 202610 Oct 2026
1yr 5.20% today
26 Aug 202610 Oct 2026
5yr 4.00% today
26 Aug 202610 Oct 2026
All 17 terms — the other 11
1mo 1.40% today
26 Aug 202610 Oct 2026
2mo 1.65% today
26 Aug 202610 Oct 2026
5mo 3.45% today
26 Aug 202610 Oct 2026
8mo 3.60% today
26 Aug 202610 Oct 2026
9mo 3.65% today
26 Aug 202610 Oct 2026
10mo 3.70% today
26 Aug 202610 Oct 2026
11mo 3.75% today
26 Aug 202610 Oct 2026
23mo 4.75% today
26 Aug 202610 Oct 2026
35mo 4.50% today
26 Aug 202610 Oct 2026
47mo 4.00% today
26 Aug 202610 Oct 2026
59mo 4.00% today
26 Aug 202610 Oct 2026
Each line is the best retail rate Westpac published for that term on each day we read its feed. A break in the line is a day we read no rate for that term — the feed could not be read, or the bank did not publish that term that day — never a rate carried forward.
Where Westpac sitsagainst the 77 banks ranked today
1yr: 43 banks ahead
- Community First Bank 5.60%
- Dnister Bank 5.55%
- Heartland Bank 5.55%
- Unity Bank 5.50%
- Alex Bank 5.50%
- Bank Australia 5.50%
- and 37 more on the leaderboard
6mo: 63 banks ahead
- Heartland Bank 5.45%
- RACQ Bank 5.45%
- Unity Bank 5.35%
- Dnister Bank 5.30%
- Bank Australia 5.30%
- Bank First 5.30%
- and 57 more on the leaderboard
The Big 4 and their brands9 banks · top 10 by best rate
| Bank | Best | Term | 6 m | 12 m | Market rank |
|---|---|---|---|---|---|
 Suncorp Bank | 5.50% | 2yr | 4.80% | 5.40% | #5 |
 ANZ | 5.30% | 1yr | 3.50% | 5.30% | #31 |
 Bankwest | 5.30% | 1yr | 4.40% | 5.30% | #31 |
| CommBank | 5.30% | 1yr | 5.00% | 5.30% | #31 |
| NAB | 5.30% | 1yr | 3.50% | 5.30% | #31 |
 Bank of Melbourne | 5.20% | 1yr | 3.40% | 5.20% | #53 |
 BankSA | 5.20% | 1yr | 3.40% | 5.20% | #53 |
 St.George | 5.20% | 1yr | 3.40% | 5.20% | #53 |
| Westpac | 5.20% | 1yr | 3.40% | 5.20% | #53 |
Timeline4 rate changes since 26 Aug 2026 · ▲2 ▼2 · 1 event
| Date | Term | From → to | Δ |
|---|---|---|---|
| 30 Sep 2026 | RBA | RBA cash rate 4.60% — up 0.25 pointsReserve Bank decision effective 2026-09-30: cash rate target 4.60%, a rise of 0.25 percentage points. | |
| 22 Sep 2026 | 1yr | 5.10 → 5.20 | ▲ +0.10 |
| 12 Sep 2026 | 1yr | 5.05 → 5.10 | ▲ +0.05 |
| 29 Aug 2026 | 8mo | 5.05 → 3.60 | ▼ −1.45 |
| 29 Aug 2026 | 1yr | 5.10 → 5.05 | ▼ −0.05 |
Questions about these rates
What is Westpac’s best term deposit rate today?
On 10 Oct 2026, the best retail term deposit rate Westpac publishes in its Consumer Data Right feed is 5.20% for 12 months (Term Deposit). That is joint #53 of the 77 Australian banks ranked by best rate today.
What is Westpac’s 12-month term deposit rate?
5.20% as read on 10 Oct 2026, 0.05 points below the market median of 5.25%, and joint #44 of the 75 banks publishing a 12-month rate. The market-best 12-month rate today is 5.60%.
What is the minimum deposit at Westpac?
The lowest minimum Westpac states in its feed is $5,000 (Term Deposit, 1-month). Check the product disclosure statement for balance tiers.
When did Westpac last change a term deposit rate?
The most recent change we read was on 22 Sep 2026: the 12-month rate moved from 5.10% to 5.20%. We have read 4 changes at Westpac since 26 Aug 2026.
Are deposits with Westpac guaranteed?
Westpac publishes its products under the Consumer Data Right as an Australian data holder. Under the Financial Claims Scheme, administered by APRA, protected Australian-dollar deposit accounts at an Australian-incorporated authorised deposit-taking institution (ADI) are covered up to $250,000 per account holder per ADI. Several brands can share one ADI licence, in which case the cap covers them together, so confirm which licence Westpac operates under before relying on the guarantee. Scheme facts checked against apra.gov.au (Financial Claims Scheme) on 15 Sep 2026 — the link is under “About Westpac” below; rates are as read on 10 Oct 2026.
About Westpac
- Also known as
- Westpac Banking Corporation
- Type
- One of the Big 4 banks
- ASX code
- WBC
- Website
- www.westpac.com.au
- Consumer Data Right feed
- https://digital-api.westpac.com.au
- Deposit guarantee
- Financial Claims Scheme, up to $250,000 per account holder per ADI — scheme details and covered institutions at APRA (checked 15 Sep 2026)
The rates on this page are the retail term deposit rates Westpac publishes in its own Consumer Data Right product feed, read once a day. Business, SMSF and staff-only products are left out. A product the bank publishes as “tailored” (pricing may be negotiated) is included only when the bank also states it is open to individuals, and is marked as tailored. A day on which we read no rate is a gap on this page — never an estimate.
Looking for Westpac term deposit rates for seniors? Westpac publishes no seniors-specific term deposit tiers in its Consumer Data Right feed; the retail rates on this page apply to all personal customers.
Facts about the institution reviewed 15 Sep 2026. Rates read 10 Oct 2026.
Savings accountshighinterestsavingsaccounts.org
Westpac has no savings account on today’s board at highinterestsavingsaccounts.org, our sister site for at-call savings rates.
Please note: the savings figures on this page are estimates only and may not reflect the return you actually receive. Actual returns vary with tax, fees, the interest payment frequency and any change the bank makes to a rate before you open the account. Rates are the bank’s own published Consumer Data Right figures and may differ for particular balance tiers or online-only products. Always read the product disclosure statement, confirm the rate with the bank, and consider your own circumstances. Nothing here is financial advice or a recommendation. This site is published by Nutshell Media Pty Ltd, which is not affiliated with any bank, credit union or building society.