Commercial and Private Bank customers will need to contact their Relationship Manager. Rates updated 14 hour (s) ago Deposit term This "big four" bank does not charge any set up or monthly service fees. You could earn up to 4.70% p.a. Three year swap rates are more than 30 basis points lower. Main image source: robuart/Shutterstock.com. Changes come into effect on July 15, 2022. Lending criteria apply to approval of credit products. Higher or lower rates may apply for subsequent terms. Our Privacy Statementexplains how we use cookies. Popular Business Term Deposit rates Rates below are available on deposits from $5,000 to $2,000,000 invested with interest paid at maturity. Add0.10% p.a. fact-checking process. Investments made in the Westpac Term PIE Fund (the "Fund") do not represent bank deposits or other liabilities of Westpac Banking Corporation ABN 33 007 457 141, Westpac New Zealand Limited ("Westpac NZ") or other members of the Westpac group of companies. Rate will not be automatically applied to a renewing Term Deposit. Rates and product information should be confirmed with the relevant credit provider. ** Individuals with taxable income of $48,001 to $70,000. 6 months 2.55% 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. Input the current interest rate of an . A simple, fee-free way to invest $5,000 or more. Below is a list of the winning term deposit providers from Canstar's 2022 Term Deposit Awards: Judo Bank; G&C Mutual Bank; Not available for Financial Institutions or Westpac Institutional Bank customers. for 12 months (interest paid at maturity) $0 Account keeping fee Interest paid on maturity Up to $5,000,000 can be invested Go to site More info Promoted MyState Bank Online Term Deposit Earn a fixed interest rate up to 4.5% p.a. Macquarie household deposits surge as major banks jockey for savings. For Westpac issued products, conditions, fees and charges apply. Can I have the online bonus rate applied in branch or over the phone? Canstar is a comparison website, not a product issuer, so its important to check any product information directly with the provider. Canstar provides an information service. to 4.00% p.a. See all rates & terms 6 months 5.30 % p.a. This regular income stream can be ideal if you need to supplement other income such as NZ Superannuation. Full details are available on request. Commercial and Private Bank customers will need to contact their Relationship Manager. Rates apply to deposits of $5,000 to $2,000,000 with interest paid monthly, yearly, or on maturity. Does the online bonus rate apply to special offers? Take out an 8 month Term Deposit and we will donate $10^ to the Chopper Appeal. It will be automatically added to your original investment, so your investment grows quickly. 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. Target Market Determinations for the products are available. So if you want more flexibility, you might want to consider a high-interest savings account instead. You can also elect to have interest paid at maturity for terms six months or longer. CBA alone forecasts a final 0.25% boost in May before the RBA leaves it steady until 2024. Consider its appropriateness to these factors before acting on it. What changes are coming to your superannuation? Earn income regularly or compound it for faster growth, depending on your term. We also offer a choice of interest payment frequencies to supplement income, or returns can be compounded to grow your savings faster. Lending criteria apply to approval of credit products. 2. You could earn up to 4.35% p.a. Data may not be available for some products. Any bonus rates offered above may only be available through Westpac Online Banking. These may change or we may introduce new ones in the future. Please refer to the provider for more information. Target Market Determinations for the products are available. The bonus rate will be applied in conjunction with any other bonus rate that may apply. Opt-in to get notified via email and your Online Banking Message Centre when your Term Deposit is maturing. Source: Canstar, 02/05/2023. Rate applies for a single term. Pick a term from 1 month to 5 years, knowing your money will be invested securely. Term deposits earn a fixed interest rate for a fixed period of time - from 30 days to five years. Read the disclosure documents for your selected product or service, including the Terms and Conditions, before deciding. Just make 3 purchases in the 1st 30 days. Any bonus rates offered above may only be available through Westpac Online Banking. Want a more competitive rate? Our Privacy Statementexplains how we use cookies. These may change or we may introduce new ones in the future. 4.25% p.a. Learn whats different about these savings accounts and see whats best for your needs. Looking for a better savings account rate? If you are on a special rate and your Term Deposit rolls over automatically, the Term Deposit may be automatically re-invested at a lower rate than the current interest rate.
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