My bank has automatically rolled over my matured deposit into a new deposit – is it too late to stop this?

There will usually be a 7-day cooling-off period following a rollover to allow you to decide whether the new deposit is right for you.

What interest rate will I get if I roll over my term deposit at maturity?

You will receive the current interest rate offered by your bank for your chosen investment term. This may be higher or lower than the rate you were previously getting.

What does interest paid at maturity mean?

This means that the interest earned on your term deposit will be paid at the end of the investment term.

What happens to my term deposit at maturity?

Unless you have specified otherwise, the default option is for your funds to be rolled over into a new term deposit for the same investment period.

Do I need to wait until maturity to choose what will happen to my funds?

No, you can provide maturity instructions to your bank at any stage during the term. In fact, you may even be able to provide these instructions when you apply for an account.

Will my bank contact me when my term deposit is about to mature?

Yes, your bank will contact you in the month leading up to maturity to remind you of the maturity date and inform you of your options.

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Term Deposits

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Term deposit maturity options

When your term deposit matures it's time to decide the next move for your money. Here are your options, including term deposit rollover (tdr).

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