Term investment rates.

Interest rates are subject to change without notice.


  • A simple way to invest for a fixed timeframe. 
  • Put away as little as $5,000.
  • Earn income regularly or compound it for faster growth, depending on your term. 
  • Fixed interest rates to maximise your savings.  
  • Easy to set up and renew with Westpac One® online banking.

How it works.

A simple, fee-free way to invest $5,000 or more. Term deposits earn a fixed interest rate for a fixed period of time - from 30 days to five years.

Please see the Term Deposit Term Sheet for further information.

Your earnings

Interest paid at maturity

For investments of less than six months, interest is paid in full at the end of the term. You can also choose to have interest paid at maturity for longer terms.

Regular income

For investments of six months or longer, you can choose to have interest paid monthly or quarterly into your nominated bank account. This provides a predictable income stream.

Compound interest

For investments of six months or longer, interest can be compounded quarterly. It will be automatically added to your original investment, so your investment grows quickly.

Additional access option

For investments of 12 months or more, you may be able to take out up to 20% of the amount you've invested (excluding any compounding returns), without loss of accrued interest.

20% withdrawal conditions
  • You provide 32 days' notice
  • Your remaining balance does not drop below the minimum investment amount ($5000)
  • You use the early access option only once during the terms of your investment
  • The partial withdrawal is not linked to another early withdrawal.
See our Early Withdrawal Policy for more details

Early withdrawals

  • You have seven working days as a cooling off period after you take out your Term Deposit, in case you change your mind. After that, you can only withdraw all or part of your money from your Term Deposit if we agree
  • A reduced interest rate is likely to apply to early withdrawals and we will apply our Early Withdrawal Policy.

Open a term deposit.

Already registered for Westpac One®?

Save time and open a Term Deposit using Westpac One.

Open a term deposit

New to Westpac?

You can apply online in minutes for a transaction account and debit card. Have your NZ Passport or Driver Licence on hand for verification. Once you have a transaction account it is easy to open a term deposit account through Westpac One online banking.

Join Westpac

Call us

Speak to one of our friendly specialists who can help.

Call 0800 400 600

Visit a branch

Drop into one of our branches.

Find a branch

Savings & Investment Chooser tool.

Find the right investment for you.

Our Savings & Investment Chooser tool is free and provides you recommendations on which of our savings and term investment options best suit you.

Things you should know.

Minimum $5,000 deposit. Rates are available for Retail and Business Banking customers holding up to $5,000,000 total deposits, either solely or jointly with Westpac NZ (including PIE investments). For rates applicable to amounts in excess of $5,000,000, please contact us. Rates are not available to Financial Institutions.

You can get a copy of the current Disclosure Statement  for Westpac New Zealand Limited, and a copy of the term sheet for Term Deposits here or from any Westpac branch in New Zealand free of charge. 

Full details of the Westpac General Terms and Conditions are available here or free of charge from any Westpac branch in New Zealand.