Investment jargon explained
$1,000 or more
|1 month||At maturity|
|2 months||At maturity|
|3 months||At maturity|
|4 months||At maturity|
|5 months||At maturity|
|6 months||At maturity|
|7 months||At maturity|
|8 months*||At maturity|
|9 months||At maturity|
|10 months||At maturity|
|11 months||At maturity|
|12 months*||At maturity|
Rates effective from
*Promotional term deposit rate. Heritage sometimes offers term deposits which are priced higher than our standard term deposit. Because these term deposits often automatically renew at maturity for the same period but at a different interest rate, there is a risk you may move from a high to a low interest rate.
A reduced rate of interest will be paid for early maturity and interest payment methods other than at maturity and yearly.
|Interest paid||Deduction from quoted interest rates|
Only available for terms up to 12 months
Only available if you are 55 years or over and retired or eligible for a pension or hold a seniors card.
|Monthly or quarterly||0.05% p.a.|
|Half yearly||0.05% p.a.|
Should you decide to withdraw or transfer part or all of the account balance of your term deposit after the grace period has expired but before the maturity date, you can discuss this request with one of our specialists at your local branch or call us on 13 14 22. Any withdrawal outside the grace period or before maturity will be subject to conditions.
When you do withdraw part or all of your deposit before the end of the term, we will pay a reduced rate of interest on the withdrawn amount. This reduced rate is called the early withdrawal rate. The effect of the early withdrawal rate is to reduce your interest return, on the amount withdrawn, to the early withdrawal rate.
The early withdrawal rate is currently 0.10% p.a.
For further information and examples of how the early withdrawal rate will affect your investment refer to the Guide to Heritage Deposit Products.