For deposits over $500,000 rates are by negotiation and subject to acceptance. View the Conditions of use – Accounts and Access, and Fees and Charges brochure, also available from any of our offices. You should consider whether this product is appropriate for you before acquiring it.
Interest can be paid monthly, 12 monthly or at maturity on the Member, Edvest, Rewards Package and Customer Term Deposits and fortnightly on the Edvest Term Deposit. The Customer Term Deposit interest is calculated on the daily closing balance of the account and can be credited (compounded) to the term deposit account annually or on maturity. Term deposits lodged for more than 12 months must have interest paid at least every 12 month period as well as at maturity and can be compounded to the principal. Fortnightly and monthly interest payments cannot be compounded to the principal.
Term deposits interest rates are subject to change at our discretion. However, your interest rate is guaranteed for the term of your chosen deposit, except for Edvest Term Deposit, where if your Edvest membership is cancelled, your Edvest Term Deposit will be transferred to a comparable non-Edvest Term Deposit for the remaining term providing the remaining term is 3 months or more. If the remaining term is less than 3 months, your Edvest Term Deposit balance will automatically be transferred to your Everyday or Everyday direct account. Terms and conditions are available on request.
Early withdrawal: You cannot withdraw or transfer funds from a term deposit account prior to maturity unless you give us thirty one days’ notice. If you believe that you may have a need to immediately withdraw or transfer funds before maturity, please select a more suitable deposit product. Where you give us notice of early withdrawal and the maturity date is less than thirty one days from the date of notice, we will not release the funds until maturity. Upon early withdrawal or transfer, we will reduce the interest payable. An adjustment may be required where we have paid interest to you prior to you making an early withdrawal. Where an adjustment is required, we will deduct the applicable amount from the deposit balance paid to you.
Interest can be paid monthly, 12 monthly or at maturity on the Member, Edvest, Rewards Package and Customer Term Deposits and fortnightly on the Edvest Term Deposit. Term Deposit interest is calculated on the daily closing balance of the account and can be credited (compounded) to the term deposit account annually or on maturity. Term deposits lodged for more than 12 months must have interest paid at least every 12 month period as well as at maturity and can be compounded to the principal. Fortnightly and monthly interest payments cannot be compounded to the principal. Term deposit interest rates are subject to change at our discretion. However, your interest rate is guaranteed for the term of your chosen deposit, except for Edvest Term Deposit, where if your Edvest membership is cancelled, your Edvest Term Deposit will be transferred to a comparable non-Edvest Term Deposit for the remaining term providing the remaining term is 3 months or more. If the remaining term is less than 3 months, your Edvest Term Deposit balance will automatically be transferred to your Everyday account. Terms and conditions are available on request. The reduced rate is currently 2% lower than the rate specified on your Term Deposit Certificate.
1 A $1,000 minimum applies to member and customer term deposits.
3 If you cancel or do not renew your Rewards Package by paying the annual fee each year you will no longer be eligible for the rewards benefits. As a result the term deposit will be transferred to a comparable term deposit for the remaining term, providing the remaining term is 3 months or more or if the remaining term is less than 3 months, your term deposit balance will automatically be transferred to your account. Reduced interest is paid on term deposits if you withdraw your funds before the end of the proposed term.
