Term Investments

Interest rates are current as at 16 December 2018 and are subject to change without notice.

Term deposit interest rates

Term deposit interest rates

 

Term Deposit
TermInterest Frequency$5,000-$5,000,000
30 days At Maturity 0.50% p.a.
60 days At Maturity 1.00% p.a.
90 days At Maturity 2.65% p.a.
4 months At Maturity 2.95% p.a.
5 months At Maturity 3.00% p.a.
6 months At Maturity, Monthly or Compounding 3.25% p.a.
8 months At Maturity, Monthly or Compounding 3.15% p.a.
9 months At Maturity, Monthly or Compounding 3.50% p.a.*special rate 
12 months At Maturity, Monthly or Compounding 3.40% p.a.
18 months At Maturity, Monthly or Compounding 3.45% p.a.
2 years At Maturity, Monthly or Compounding 3.50% p.a.
3 years At Maturity, Monthly or Compounding 3.65% p.a.
4 years At Maturity, Monthly or Compounding 3.60% p.a.
5 years At Maturity, Monthly or Compounding 3.65% p.a.

 

Download the Term Deposits Term Sheet

*Special rates 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. 

Term Deposit - Interest paid at maturity

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

Term Deposit - Regular income

For terms of six months or longer, you can choose to have interest paid monthly or quarterly into your nominated bank account. This regular income stream can be ideal if you need to supplement other income such as NZ Superannuation.

Term Deposit - Compounding interest

For terms six months or longer, interest can be compounded quarterly (added automatically to your original investment) which allows you to earn ‘interest on your interest’, meaning your investment grows at a faster rate than if interest were paid out during the course of the investment or paid in full at maturity. 

You can get a copy of the current Disclosure Statement for Westpac New Zealand Limited and a copy of the term sheet for Westpac Term Deposits from any Westpac branch in New Zealand free of charge. Interest rates quoted are subject to change. The above rates are not available to financial institutions. Full details of the terms and conditions are available from any Westpac branch in New Zealand.

Term PIE rates of return

Westpac Term PIE Fund rates of return

 

Westpac Term PIE Fund - Rates of return Effective rate of return*
TermReturn Frequency$5,000-$5,000,000If your Income Tax Rate is 30%**If your Income Tax Rate is 33%***
30 days At Maturity 0.50% p.a.  0.51%  0.54%
60 days At Maturity 1.00% p.a.  1.03%  1.07%
90 days At Maturity 2.65% p.a.  2.73%  2.85%
4 months At Maturity 2.95% p.a.  3.03%  3.17%
5 months At Maturity 3.00% p.a.  3.09%  3.22%
6 months At Maturity, Monthly or Compounding
3.25% p.a. 3.34% 3.49%
8 months At Maturity, Monthly or Compounding 3.15% p.a.
3.24% 3.39%
9 months At Maturity, Monthly or Compounding 3.50% p.a.*special rate  3.60% 3.76%
12 months At Maturity, Monthly or Compounding 3.40% p.a. 3.50% 3.65%
18 months At Maturity, Monthly or Compounding 3.45% p.a. 3.55% 3.71%
2 years At Maturity, Monthly or Compounding 3.50% p.a. 3.60% 3.76%
3 years At Maturity, Monthly or Compounding 3.65% p.a. 3.75% 3.92%
4 years At Maturity, Monthly or Compounding 3.60% p.a. 3.70% 3.87%
5 years At Maturity, Monthly or Compounding 3.65% p.a. 3.75% 3.92%

*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. 

Download the Term PIE Term Sheet

Rates are available for Retail and Business Banking customers and apply up to the first $5,000,000 of deposits held either solely or jointly with Westpac. For rates applicable to amounts in excess of $5,000,000, please contact us. Rates are not available to Financial Institutions.

Westpac Term PIE Fund - Returns paid at maturity

For terms less than six months, returns are paid in full at the end of the term. You can also elect to have returns paid at maturity for terms six months or longer.

Westpac Term PIE Fund - Monthly income

For terms of six months or longer you can choose to have returns paid monthly into your nominated bank account. This regular income stream can be ideal if you need to supplement other income such as NZ Superannuation.

Westpac Term PIE Fund - Compounding & regular return

For terms six months or longer, you can choose to have returns paid every three months. Alternatively, returns can be compounded (added automatically to your original investment) which allows you to earn ‘returns on your returns’, meaning your investment grows at a faster rate than if returns were paid out during the course of the investment or paid in full at maturity.

* The Effective Return is the rate you would need to receive from a regular savings account in order to achieve the same after tax return from your Term PIE account, based on a PIR of 28% and an income tax rate of either 30% or 33%.
** Individuals with taxable income of $48,001 to $70,000.
*** Individuals with taxable income of $70,001 and over.

Find out more about the Westpac Term PIE Fund here.

Investments made in the Westpac Term PIE Fund (“the Fund”) do not represent bank deposits or liabilities of Westpac New Zealand Limited (“Westpac NZ”) or any other member of the Westpac group of companies, and are subject to investment and other risk. No Westpac company or any person guarantees the Fund's performance, returns or payment of capital. You can get a copy of the current Disclosure Statement for Westpac NZ, and a copy of the term sheet for the Fund from any Westpac branch in New Zealand free of charge. Rates of return quoted are subject to change.