Manage Term Deposits

Term Deposits are a cash investment that are invested for a fixed amount of time. When you apply, you decide how long you want the money invested, anywhere from 90 days to 5 years. The interest rate you earn depends on the length of the fixed term you choose.

1. Login to Internet Banking

2. Select Accounts

3. Select Open Term Deposit

4. If you wish to open a joint Term Deposit, select 'Add a new Applicant' and they’ll be required to log into their Internet Banking, or to open a Term Deposit as an individual. Click next

5. Read and accept the General Terms and Conditions

6. Select the deposit amount

   1. $500.00 - $19,999.00

   2. $20,000.00 - $49,999.00

   3. $50,000.00 - $99,999.00

   4. $100,000.00 - $9,999,999.00

7. Select your term, 90 days to 5 years

8. Select the highlighted interest rate 

9. Select the account to Transfer funds from an internal account

10. Enter your amount

11. Choose what you would like to do at the end of the term:

12. Choose what you would like to do with your interest:

    1. Rollover term deposit

    2. Transfer funds

13. Once you ensure all your details are correct, select confirm and the Term Deposit will be opened

Interest is calculated daily. The daily percentage rate is the Annual Percentage Rate divided by 365.

When your Term Deposit matures, the bank automatically renews the principal amount and the interest earned for the same term at the current interest rate. View the latest Term Deposit Interest Rates. Please note that after your Term Deposit automatically renews, an interest rate penalty reduction may apply to any early withdrawal. For more information, please see our Terms and Conditions.

If your Term Deposit is maturing soon and you don’t want it to automatically renew, it’s easy to provide us with your instructions. You don’t need to call us or visit a branch. Simply let us know your Term Deposit maturity instructions by completing the Term Deposit Maturity Instructions Form using Internet Banking. It only takes a few minutes. It’s that quick!

If you have a Term Deposit maturing soon which requires two authorised signatures, please download, complete and return the Two to Sign – Term Deposit Maturity Instructions Form.

Instructions will be accepted up to five business days after maturity.

1. A reduction in the interest paid will apply to the amount withdrawn.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.

2. 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:

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.

It’s quick and easy to provide us with your instructions. You don’t need to visit a branch or call us. Simply let us know your maturity instructions by completing an online form, paper form or through Internet Banking. Instructions to change your Term Deposit will be accepted up to five business days after maturity.

If you’d like to add or remove funds from your Term Deposit, change your term or redeem your deposit at maturity, please complete the short Term Deposit Maturity Instructions Form using Internet Banking.

Option 1: Internet Banking Term Deposit Maturity Instructions

1. Login to Internet Banking

2. Select Accounts

3. Select Term Deposit Maturity Instructions

4. Enter your Member Number and Term Deposit Number

5. Select what you would like to do with the funds and provide details (as required)

Option 2: Two to sign – Term Deposit Maturity Instruction Form.

If you have a Term Deposit maturing soon which requires two authorised signatures, please download, complete and return the Two to Sign – Term Deposit Maturity Instructions Form.

Additional deposits can be made to an existing Term Deposit within five business days before or after maturity.

Deposits received at any other time will be accepted as a separate deposit under the Terms and Conditions prevailing at the time.

Please contact us if you would like to invest additional funds.