You can view our CDR policy by clicking on this link. Open account Call 1300 889 635 BT Invest has a range of term deposits offering a variety of terms and interest payment frequencies to meet your needs. Lending criteria apply to approval of credit products. Another interest rate rise expected: what will it mean for you? You can also choose to have interest paid at maturity for longer terms. Term Deposits & Farm Management Deposits - Terms and Conditions (PDF 146KB), Find out what information you need to provide to become a customer (PDF 657KB). It will be applied on top of any other bonus rates you may be eligible for. This was not included in the table since it is not available to new customers. Higher or lower rates may apply for subsequent terms. 0.30% p.a. A Term Deposit account needs to be linked to an eligible transaction account. An account that offers an introductory bonus interest rate with access to funds through a linked transaction account via Online Banking and the Westpac App. It is not a credit provider, and in giving you information about credit products Canstar is not making any suggestion or recommendation to you about a particular credit product. Bonus interest is payable each month that you: For bonus interest rate qualification, a month is the period from close of business on the last business day of the previous month to close of business on the last business day of the current month. If you apply in Online Banking, you may also be eligible for multiple bonus rates. Some term deposit interest rates will increase by up to 0.75 per cent from . For example, one-year fixed rate mortgages could be matched with one-year fixed rate funding (e.g. CBA, NAB, ANZ & Westpac term deposit rates. T&Cs apply. The First Home Guarantee Scheme enables eligible first home buyers to purchase a home within a certain price with a deposit of as little as 5%. Notyet a Westpac customer? Target Market Determinations for the products are available. Available on deposits of $5,000 to $5,000,000 with support paid monthly or annually. With a fixed interest rate over a fixed term, youll know exactly how much youre going to earn. Notice Saver A flexible savings account with bonus interest for regular savers, supporting both long- and short-term savings goals. Using an interest rate of 4.5% p.a. to these rates if you're already with Westpac and opening or renewing online.1 Check for additional bonus rates when you sign in. What if I cannot manage my Term Deposit online? BOQ has announced it will increase a range of term deposit rates, including increasing its 12-month term deposit rate to 2.50%. Rates are not available to financial institutions. Apply in branch. No, it is only applied to Term Deposits opened or renewed online. Unless otherwise specified, the products and services described on this website are available only in Australia from Westpac Banking Corporation ABN 33 007 457 141 AFSL and Australian credit licence 233714. You can also elect to have interest paid at maturity for terms six months or longer. fixed rate Notice Deposit for terms of 12 to 23 months. fixed rate Term Deposit for terms of 12 to 23 months Offer available from 3rd March 2023 for a limited time only on Term Deposits opened or renewed by existing Westpac personal or business customers. The online bonus rate will be included within the bonus rate displayed when opening or renewing your Term Deposit. For more information please see How We Get Paid. Looking for a better savings account rate? Manage your Term Deposit in Online Banking or the Westpac App if youre eligible, without having to visit a branch. Check out the highest term deposit rates from all providers on our database, not just the big four. CBA alone forecasts a final 0.25% boost in May before the RBA leaves it steady until 2024. For example, money deposited into banks, building societies and credit unions (known as authorised deposit-taking institutions or ADIs) is protected by a federal government guarantee of up to $250,000 per account-holder, per ADI. Consider the product disclosure statement before making a purchase decision. Its now one of the big four banks in Australia, with almost 14 million customers, 1,200+ branches, 39,000 staff and 3,000+ ATMs. Our Privacy Statementexplains how we use cookies. Past performance should not be relied upon as an indicator of future performance; unit prices and the value of your investment may fall or rise. Target Market Determinations for the products are available. Online bonus rate is only available for Term Deposits between $5,000 -$5,000,000 opened or renewed by existing customers via Online Banking (during the Variation Period). Find the best term deposit interest rates online with our rates table *, 0.10% p.a. Karen has a background in allied health, having completed a Bachelor of Podiatry from the Queensland University of Technology, and is currently completing the University of Queenslands Writing, Editing and Publishing program. Compare Savings Accounts & Term Deposits | Westpac Term Deposit. Mitigating interest rate risk Banks use strategies such as matching the repricing maturities of assets and liabilities to mitigate interest rate risk. The market leaders ANZ, CommBank, Westpac, NAB The best of the rest. We offer a range of terms from 30 days to 5 years to suit your investment goals and your lifestyle. . You can generally get a higher interest rate if you invest for longer. You must provide a minimum of 31 days notice to access funds prior to maturity (except in cases of hardship). Term deposit rates are rising, but how long should you sign up for? Rate will not be automatically applied to a renewing Term Deposit. View Cash PIE and Term PIE rates here NEW: Click on a provider's name or logo to see all their rates. Below is a list of the winning term deposit providers from Canstar's 2022 Term Deposit Awards: Judo Bank; G&C Mutual Bank; ING. And five year rates are 50 basis points lower. Times when a term deposit could be useful, 4.25% p.a. So if you want more flexibility, you might want to consider a high-interest savings account instead. variable interest on your first $30,000 savings with a Life Savings and Choice bank account. They may appear in a number of areas of the website such as in comparison tables, on hub pages and in articles. A Term Deposit lets you invest your money with the certainty of a fixed interest rate, and with a choice of terms. Full details are available on request. *We are Australias Biggest Financial Comparison Site. Lending criteria apply to approval of credit products. Bachelor of Podiatry from the Queensland University of Technology, University of Queenslands Writing, Editing and Publishing, Canstars Financial Services and Credit Guide (FSCG), Financial Services and Credit Guide (FSCG). You may need financial advice from a qualified adviser. Manage your Term Deposit online choosing to renew or withdraw. Copyright 2023 CANSTAR Pty Limited AR 443019, CBA, NAB, ANZ & Westpac term deposit rates. Special rates are not available to financial institutions or for investments over $5,000,000 and cannot be used in conjunction with any other Westpac promotion, offer or package benefit. Keep your account balance above $0 at all times. 4.25% p.a. Pay off HECS/HELP debt before indexation? All Interest Rates for Westpac - depositrates.co.nz May 1, 2023 - 5.44pm. Fees payable by product providers for referrals and Sponsorship or Promotion may vary between providers, website position, and revenue model. That opens up a rather sharp difference that is not being driven by wholesale rates - yet, anyway. None of BT Funds Management (NZ) Limited (as manager), any member of the Westpac group of companies, Trustees Executors Limited (as trustee), or any director or nominee of any of those entities guarantees the Fund's performance, returns or repayment of capital. Or open an everyday account then apply for a Term Deposit online. Know how you can make your money grow by inquiring with Westpac term deposit. Open a Term Deposit at any branch,or join us by opening a Choice everyday account online. Westpac Banking Corporation ABN 33 007 457 141, incorporated in NSW Australia. Choose an amount and a term to see what you could earn with a standard Term Deposit available in branch. How will the online bonus rate be displayed? Which banks are increasing savings rates following the RBAs May decision? to these rates if youre already with Westpac and opening or renewing online. This means the investment return over time is harder to predict. fixed rate Term Deposit for terms of 12 to 23 months, Offer available from 3rd March 2023 for a limited time only on Term Deposits opened or renewed by existing Westpac personal or business customers. Westpac Term Deposit NZ - Calculator, Interest Rates - Glimp Interest rates Australia: ANZ, Westpac, NAB, CBA all pass on interest

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