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Open New Accounts | Bank First

What if I need to access to my funds before my Term Deposit matures?

A reduction in the interest paid will apply to the amount withdrawn. When the Term Deposit is invested for a term of up to two years we will require 31 days advance written notice. When the Term Deposit is invested for a term of more than two years the following will apply:
- Where the investment period at the time of withdrawal has been 2 years or less we will require 31 days advance written notice; or
- Where the investment period at the time of withdrawal has been more than 2 years we will require 7 days advance written notice.
For early withdrawals of a part or full amount of a Term Deposit the interest accrued or paid to that date will reduce as follows:

Percentage of Term Remaining	Interest Rate Reduction
0-19.99%	20%
20-39.99%	40%
40-59.99%	60%
60-79.99%	80%
80-100%	90%

We may recover the interest deduction by charging this to the balance of your Term Deposit or any other deposit account you hold with us.

For assistance, please contact us and one of our friendly Member Service Consultants can calculate the interest adjustment with you.

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