Term Deposits

Upon maturity, unless you provide us with new instructions, your Term Deposit will automatically roll over for an identical term at the current interest rate applicable to that term. If your funds are renewed for the same fixed term as before, the applicable interest rate may be higher or lower than the interest rate that you received in the previous term.  This is because the rates we offer change from time to time. Withdrawal of any funds before the maturity date may be permitted by you giving us at least 31 days notice. If you are experiencing hardship and need to withdraw your funds on less than 31 days notice, please contact us immediately. Alternatively at the end of your term, should you wish to modify your Term Deposit, there is a grace period from 2 calendar days before the maturity date to 7 calendar days after the maturity date. During this grace period, you can withdraw, transfer or modify (such as the amount invested or the length of the term) your term deposit without incurring a fee or any reduction in the return generated.

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