Term Deposit

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

Essentials

Features and benefits

  • No monthly account service fee or establishment fee1
  • Competitive interest rates with fixed amounts, rates and terms
  • A range of fixed investment terms available to suit your needs
  • Interest paid monthly, annually, and at maturity2.

 

For information refer to the Term Deposit brochure (PDF 164KB)

 

Refer to the PNG Customer Service Fees and Charges Brochure (PDF 141KB) for details.

Opening an account

Here’s what to do

To open a Westpac personal bank account, you’ll need to provide us with a signed and completed personal account opening form, along with some current identification documents.

We are required to verify your:

  1. Full name
  2. Date of birth
  3. Residential address
  4. Occupation
  5. Signature
  6. Citizenship
  7. TIN
  8. Income source


Information must be verified from a combination of identification documents including national ID card, birth certificate, or passport. Download the Opening a Personal Bank Account Brochure (PDF 183KB) for a list of accepted identification documents and additional identification required for non-residents. Visit your local branch or call (+675) 322 0888 for more information.

Existing customers

You may have already provided necessary identification or you may need to provide additional current identification documents. Visit your local branch to get started.

Download the forms you need

FATCA SDF Individual (PDF 195KB)

Term Deposit Personal Account Opening Form (PDF 754KB)

Need help?

Simply speak to a Banking Representative by calling (+675) 322 0888.

Things you should know

Deposit Terms and Conditions (PDF 356KB)

Customer Banking Agreement (PDF 76KB)

PNG Customer Service Fees and Charges Brochure (PDF 141KB)

 

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. Early termination fee applies if the Term Deposit is ended before the full term.
 

2. Confirmation, Maturity, Renewal and Repayment advices sent. Once your fixed term ends, you can withdraw your funds by bank cheque, cash or direct credit into another bank account.