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Invest $5000 or more in a term deposit for a fixed term. The interest rate and term are fixed when the investment starts and rates tend to be higher than with savings accounts.
Term Deposit investment rates
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> Features of a term deposit
> Minimum investment for a term deposit
> Who is a term deposit suitable for?
> Term deposit investment options
> To invest in a Westpac Term Deposit
> Reinvesting or Repayments
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earn a fixed rate of interest for a fixed term |
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competitive tiered interest rates give you higher returns for larger investments |
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terms from 30 days to 5 years to suit your investment goals and your lifestyle |
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choice of interest payment frequencies for fixed terms of twelve months or longer |
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choose a compounding deposit option for faster growth |
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choose a monthly income option for regular income |
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| You can invest from as little as $5000. Interest rates for amounts of $250,000 or more are available on request. |
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| Term deposits may be right for people who |
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like to keep things straightforward, and agree everything up front |
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don’t want to watch or worry about their investment. |
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| You can choose the investment option to suit your needs: |
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Compounding option - may be right for people who are focussed on growth and want to keep things simple, and who can wait until the end of the term to get their investment savings and interest back. |
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Monthly income option - may be right for people who want their money to give them benefits sooner, rather than later, and who want to enjoy the benefits of a regular income. |
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| Compounding option |
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| 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 12 months to 5 years |
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| Compounding interest and fees |
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interest rate for the whole term fixed 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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| Monthly income option |
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| Features include |
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interest paid monthly - providing a reliable income for the term of your investment |
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choice of investment terms from 6 months up to maximum term of 5 years |
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competitive tiered interest rates. |
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| Monthly income interest and fees |
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fixed interest rate from the start of the investment |
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interest is paid every month to another Westpac bank account or any other New Zealand bank account, free of charge |
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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 monthly income option. |
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| At a branch |
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| You will need to take a current form of identification along with you e.g. NZ driver's licence or passport. You’ll get a certificate as a record of your investment this will detail your interest rate and reinvestment or repayment instructions. You can also view this investment information in Online Banking. Please visit a Westpac branch near you. |
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| Through Online Banking |
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| If you are registered for Online Banking you may now be able to open a new Term Deposit online.* This will automatically be added to your Online Banking service. |
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| Once your Term Deposit is set up in Online Banking, you will be able to: |
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view the details online |
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reinvest your deposit when it's due to mature. ** |
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change your deposit's maturity instructions. ** |
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* To open a new Term Deposit in Online Banking you'll need to have an existing individual or joint Westpac account or credit card that you can operate on your own.
** Conditions do apply e.g. in some cases further documentation or authorisation to remove its 'restricted' status may be required. For details on 'What a restricted account is' see our General Online Banking FAQs |
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| If you already have an existing Term Deposit, and want to add this account to your existing Online Banking service, either call us on 0800 666 001, or visit your local Westpac branch. |
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| For longer term investments |
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we’ll send you a reminder when your investment is due to mature |
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your investment (plus interest) can be automatically reinvested for the same or another term if you selected to do this |
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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’ll need to talk to your branch about making the withdrawal |
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outside the seven day cooling off period, you can only have your term deposit repaid before the end of the fixed term if Westpac agrees |
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charges apply for early repayment (refer to the Term Deposit Investment Statement for details). |
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Term Deposit Investment Rates |
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