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Earn interest on your interest with our compounding deposit option for term deposits. A longer investment means greater impact of compounding on your investment return. |
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| Fixed rates for compounding deposits tend to be higher than for our on-call or savings accounts. |
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| Compounding deposit features include |
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interest compounded automatically |
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competitive tiered interest rates are available |
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choice of investment terms from twelve months to 5 years. |
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| You'll need a minimum deposit of $5000. |
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fixed interest rate for the whole term at the start of the investment |
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choose how often your interest is compounded—every 3, 6 or 12 months |
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interest is added to your original investment, not paid out to another account |
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interest rates for amounts of $250,000 or more are available on request |
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there are no transaction or account maintenance costs for a compounding deposit. |
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| We recommend the compounding deposit option for people who |
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are focused on growth and want to keep things simple |
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can wait until the end of the term to get their investment funds and earnings back. |
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| You’ll get a certificate as a record of your investment |
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this will detail your interest payment and reinvestment or repayment instructions |
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you can also view this investment information in Online Banking. |
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| For longer term investments |
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we’ll send you a reminder when your investment is due to end |
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your investment (plus interest) can be automatically reinvested for the same or another term, or |
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you can also have your investment paid into any New Zealand bank account you choose when it matures. |
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| In emergencies or other special circumstances |
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you can request to withdraw part or all of your compounding deposit option term deposit before the term ends |
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you’ll need to talk to your branch about making the withdrawal |
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if you take money out early, your initial interest rate will reduce for the amount you withdraw (and any amount still invested) |
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Westpac will determine the reduced interest rate. |
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compounding deposit investment rates |
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