Individual Investors

Western Australian State Bonds

An opportunity for individuals to invest in the State of Western Australia.

About Our State Bonds

State Bonds are offered to individual investors on a continuous basis. The minimum amount of an investment is $1,000 and in multiples of $100 thereafter. State Bonds are issued as a fixed term/fixed rate investment. Subject to the bonds being held to maturity, the rate of return for a State Bonds investment is known with certainty. WATC may agree to repurchase State Bonds at its discretion.

Eligibility Requirements

To meet the eligibility requirements to purchase State Bonds, applicants must:

  • be a resident of Australia for taxation purposes, and

  • maintain an account with a bank, building society or credit union in Australia for receipt of interest and principal payments.

An application may be lodged in the names of individuals either solely or jointly, with up to a maximum of four people, as well as companies and other corporate bodies. Prior to being accepted, applications are validated through an arrangement with the agency Link Market Services Limited to ensure they satisfy Know Your Customer (KYC) requirements, established under Commonwealth Government anti-money laundering and counter terrorist financing legislation. Further information about KYC requirements is provided in WATC’s prospectus below.

Western Australia State Bonds Prospectus

Find out more about State Bonds terms and conditions, including the Application Form.

How To Apply

Registration for State Bonds is managed through Link Market Services Limited. To enable our registry to manage your investment efficiently and effectively, the following registry forms have been provided for download:

  • Western Australian State Bonds - Change of Details Form

    Use this form to formally notify of any changes to your personal information.

  • Western Australian State Bonds - Transfer and Acceptance Form

    Use this form to formally apply for the transfer of State Bonds.

Load more resources

Updates to your personal information

If you change your personal information after your application has been registered, please use the Change of Details form above to advise our registry immediately. This includes changes to your name, address, bank account details, contact details (including your phone number and email address) and your Tax File Number. Please note, updating your Tax File Number is not compulsory.

State Bond Rates

Western Australian Treasury Corporation (WATC) monitors market yields daily to ensure competitive rates of interest are offered to individual investors.

The interest rates detailed below are effective from 4 July 2024.

Payment FrequencyMaturity DateAmount of Investment $1,000 - $49,900Amount of Investment $50,000 - $99,900
Interest on maturity15 Oct 20254.06% p.a.4.26% p.a.
Half-yearly interest15 Oct 20263.93% p.a.4.13% p.a.
15 Oct 20283.95% p.a.4.15% p.a.
15 Oct 20304.11% p.a.4.31% p.a.

WATC reserves the right to change maturity dates and interest rates without notice.

Individuals seeking to invest $100,000 or more are invited to contact our registry (Link Market Services Limited) on 1800 098 828 (freecall within Australia) to obtain further information, including an indicative interest rate. Alternatively, you can send an email to

The date investment funds are credited to WATC’s bank account is used to determine the interest rate fixed to an investment of $100,000 or more.

  • Investments for Immigration

    Understand the terms and conditions specific to this kind of investment.

    Learn more
  • Stockholder Services

    Access resources and support for WATC stockholders.

    Learn more
  • Forms and FAQs

    Access the forms and FAQs related to individual investments.

    Learn more

Banner images:
- Wave Rock, Great Southern Region. Image courtesy of Water Corporation.
elow - Perth City. Image courtesy of City of Perth.