Term Deposit

Earn a guaranteed rate of return on your funds over a fixed period.

How to open an account in 3 steps

Application form

Download and complete the application form ahead of time.

Need help? You can complete your application form at your local branch.

Download form

Identification

You'll need to provide:

  • Photo Identification: Current Passport, Current Driver's Licence, Current Voter ID card
  • Proof of Residential Address: Utility Bill (e.g. electricty, water), Government issued ID with address, Tenancy Agreement
  • Proof of Income: Letter from current Employer, Bank Statement, Current Payslip (not older than 6 months)
  • Tax Identification Number (TIN): TIN Letter, FNPF Joint Card 

Need more options? Download acceptable IDs (PDF 237KB)

Note: In some instances, and to comply with Westpac's legal and regulatory obligations, additional customer due diligence checks may be required. Please note that in such cases, the account opening process may take longer to complete.

Contact us

Book an appointment at your local branch to open your account. Make sure to bring your completed form and ID. If additional documents are required, we’ll let you know.

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Features and benefits

No Fees, Just Growth

Grow your savings with no maintenance or establishment fee. Keep every dollar you earn.

Guaranteed Interest

Fixed interest rate paid on balances of $1,000 or more for predictable returns you can rely on. 1

Flexible Terms

Interest paid quarterly, six monthly or on maturity to match your financial goals and lifestyle. 2

Grow your money

Save with confidence knowing your money earns solid returns whether you're building a habit or locking in for the future.

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Tip: come prepared, open faster

Check the 3-step guide above to see what you'll need to open an account, it'll help you get set up faster and avoid extra trips.

Need help? Contact our customer care team on 132 032. They're ready to help you every step of the way.

Come prepared

Fill out the form and gather the required ID and documents before visting us.

Download form

Give us a call

132 032

Monday to Friday from 8:00am - 6pm

Visit us

Find the nearest branch near you. 

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Things you should know

In some instances, and to comply with Westpac's legal and regulatory obligations, additional customer due diligence checks may be required. Please note that in such cases, the account opening process may take longer to complete.

 

Conditions apply. Offer excludes corporate, institutional and government customers. 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.

1 You should carefully consider or seek advice from the Bank whether you will need funds prior to maturity. You cannot break your Term Deposit (whether in whole or part) prior to maturity unless the Bank assesses that hardship applies and provides its written consent. If you require any further information about breaking a Term Deposit, please contact us. In the event the Bank provides its consent, and your deposit is broken before maturity, your interest will be adjusted in accordance with the rate applicable to the reduced term.

2 Once your fixed term ends, you can withdraw your funds via bank cheque or direct credit into a nominated transaction account.

 

Term Deposit Brochure (PDF 454KB)

Customer Service Fees and Charges (PDF 140KB)

Deposit Terms and Conditions (PDF 331KB)

Customer Banking Agreement (PDF 87KB)