Lock in your savings for 1 month or up to 5 years with a term deposit, and know exactly what your investment is worth ahead of time.
Term Deposit rates quoted are for terms expressed in months only. The number of days in the term will vary depending on the lodgement date. Please ask our staff for interest applicable if you wish to choose a term in days or nominate a particular maturity date. You can change your instructions before the maturity date or within seven days after the maturity date by giving us further recognised instructions.
All rates shown are on a per annum (p.a.) basis and subject to change without notice. Term Deposit interest is calculated on daily balances.
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|---|---|---|
| Interest Rate | ||
| 1 month | ||
| 2 months | ||
| 3 months | ||
| 4 months | ||
| 5 months | ||
| 6 months | ||
| 7 months | ||
| 8 months | ||
| 9 months | ||
| 10 months | ||
| 11 months | ||
| 12 months | ||
| 24 months | ||
| 36 months | ||
| 48 months | ||
| 60 months | ||
Can I access my term deposit early?
Yes. If 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 the conditions outlined in our Guide to Heritage Deposit Products.
Should you decide to withdraw or transfer part or all of the account balance of your term deposit account after the grace period has expired but before the maturity date, you can ask us. Heritage may require up to 31 days notice of your intention to withdraw funds.
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.
Can I change when interest is paid on my term deposit?
When you open a new term deposit, or your term deposit reaches the maturity date, you can choose to have your interest paid at a different interval.
A reduced rate of interest will be paid for interest payment methods other than at maturity and yearly.
|
Interest paid |
Deduction from quoted interest rates |
Up front
Only available for terms up to 12 months |
0.15% p.a. |
Fortnightly
Only available if you are 55 years or over and retired or eligible for a pension or hold a seniors card. |
0.10% p.a. |
| Monthly or quarterly | 0.10% p.a. |
| Half yearly | 0.05% p.a. |
How can I open a term deposit?
You can open a term deposit online now, at your local branch or by calling us 24/7 on 13 14 22.
What happens when my term deposit ends?
The day your term deposit ends is known as the maturity date. Prior to the maturity date we will send you an email or letter reminder that your term deposit is renewing.
At this time, you will be able to review the maturity instructions you provided when you first set up your term deposit.
If you’d like to change the instructions, you can let us know by completing and returning the change to term deposit maturity instructions form.
Want to skip the paperwork? You can edit the details of your term deposit maturity instructions in Heritage Online at any time
What is the grace period on term deposits?
All Heritage term deposits have a grace period of 7 calendar days from the start date of your term deposit.
This means if your term deposit reinvests and you wish to change the term of your investment or withdraw it, you will have 7 calendar days to do so after your renewal date.
To make a change to your term deposit, manage your term deposit in Heritage Online, visit your local branch or call us on 13 14 22.
Our specialists are available to answer any of your questions, so you can choose the product that best suits your needs.
They can also help with internet banking, card management and lots more. Tap here for live assistance.
This will determine how best we can help.