Westpac Bank Term Deposit

If you are looking for a safe secure investment with a guaranteed return then a Westpac term deposit may be for you. Term deposits are a great investment because:

• They have high interest and your money is safely held in an Australian financial institution.
• The interest rate is fixed for the term of the investment and deposits are managed by the financial institution.
• With Westpac you have the choice of investments that range from seven days to five years.
• The choice of payment methods at maturity.
• Westpac gives you the option to have a joint term deposit.

Westpac Bank Term Deposit Features

If you think that a term deposit sounds like an investment you would be interested in then here are some points that you should consider so you can choose the best term deposit to suit your own needs. Some of Westpac Bank Term Deposit features:

• Term deposits ranging from seven days to five years. Westpac gives you the choice of term deposits from seven days to five years giving you opportunity to pick a term that you’re comfortable with, because you won’t be able to access your funds until the end of your term.
• Westpac is one of the big four Australian banks. Being one of Australia’s biggest banks you know that you money is being well looked after by professionals.
• Choice of when interest is paid. You have the choice of getting your interest payments monthly or yearly or on maturity, but on terms less than one year you only get the option of being paid at maturity.
• Several payment options for your interest on term deposits. Interest can be paid directly into an Australian bank account. You can reinvest your interest payments or they can even be paid via bank cheque but fees will apply for a bank cheque.
• Ease of opening an account. With a range of ways to open a term deposit you should have no problems finding the time to get your money working. Term deposits can be opened at a Westpac branch over the phone or even via the internet.
• Low fees. There are no management or setup fees on a Westpac term deposit so you can be sure to get the maximum return on your investment.
• A $5,000 minimum investment. Westpac has a $5000 minimum investment on term deposits which means you will need at least that amount of money to open an account, but the more money you can invest the more money you will earn, Westpac have special interest rates on some terms.

A Westpac term deposit account can be opened online by:

• Any Australian resident.
• Someone with between $5000 to $250,000 to invest.
• Would like have a term between 30 day to 60 months.

Any person that would like a term shorter than one month, has over $250,000 to invest, or is under the age of eighteen can still open a term deposit, but you need to call Westpac or go to a branch.

Current rates for a Westpac term deposit:

Westpac offers a range of interest rates depending on the amount that you would like to invest and the time of the term. To find the best term and rate for your circumstances you can view our term deposit calculator that will show what you can make on your investment and the interest rates available to you.

Based on a term deposit of $10,000 with interest paid monthly Westpac can offer the following interest rates:

• For an investment of three months an interest rate of
• For an investment of nine months an interest rate of
• For an investment of twelve months an interest rate of

To compare Westpac term deposit rates with other leading Australian banks use the comparison tables here, then after you have found the most suitable term deposit and provider for you follow the secure link to that provider and sign up for term deposit today.

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4. SBI Bank Term Deposit
5. NAB Bank Term Deposit
6. Commonwealth Bank Term Deposit
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