| Product | Best rate (up to 1 year) | Minimum Deposit | Interest paid to another bank? |
|---|---|---|---|
| Term Deposit |
4.00% p.a.1 year ($5,000 to $2,000,000) |
$5,000.00 |
yes |
| Term Deposit Special |
4.70% p.a.11 months ($5,000 to $5,000,000) |
$5,000.00 |
yes |
Mozo users have rated Westpac term deposits on price, features, convenience, trust and customer service so you can see what real Aussies have to say about their experiences.
Good in-person service, and quite a few options.
Read full reviewGood in-person service, and quite a few options.
When I opened my term deposit account they were so helpful and tryed to help me anyway possible I couldn't have asked for anything more and was the first bank that never got hacked or lost money and are still with them today
Read full reviewWhen I opened my term deposit account they were so helpful and tryed to help me anyway possible I couldn't have asked for anything more and was the first bank that never got hacked or lost money and are still with them today
Decided to set up a term deposit through the bank's customer service phone number. Lovely lady helped me through the process of setting up a term deposit however it wasn't actioned correctly from the bank's end meaning I couldn't transfer funds into the newly set up term deposit account. Had to have another temporary account set up to transfer my term deposit funds into before it then went into the term deposit account up to five days later. Was a bit worried typing in the temporary account details as I was told if I had done it incorrectly it was on me if the funds got lost! A rather anxious few days before the funds appeared in my term deposit. When I closed the term deposit I had to go to the bank to action it, because of the funny way it was originally set up there was some flag on the account meaning I had to verify myself by visiting a branch with adequate ID. All in all not the best experience and in reality, I got a much better interest rate using their high interest savings account - it would've been great had the customer service team advised me of that prior to selecting a term deposit option.
Read full reviewDecided to set up a term deposit through the bank's customer service phone number. Lovely lady helped me through the process of setting up a term deposit however it wasn't actioned correctly from the bank's end meaning I couldn't transfer funds into the newly set up term deposit account. Had to have another temporary account set up to transfer my term deposit funds into before it then went into the term deposit account up to five days later. Was a bit worried typing in the temporary account details as I was told if I had done it incorrectly it was on me if the funds got lost! A rather anxious few days before the funds appeared in my term deposit. When I closed the term deposit I had to go to the bank to action it, because of the funny way it was originally set up there was some flag on the account meaning I had to verify myself by visiting a branch with adequate ID. All in all not the best experience and in reality, I got a much better interest rate using their high interest savings account - it would've been great had the customer service team advised me of that prior to selecting a term deposit option.
I like this bank so much. Because there service is excellent thy look after the costumers well
Read full reviewI like this bank so much. Because there service is excellent thy look after the costumers well