Fixed Term Account

We offer personal banking products that typically include savings and transaction facilities such as a bank transaction account, debit cards/EFT, an interest bearing floating account (savings account) and a fixed interest deposit account for a specific agreed period (certificates of deposit / term deposit) which can vary according to the bank.Once a term deposit reaches or approaches maturity, the investor must notify his or her financial institution to either re-invest the money into another fixed term investment or deposit the cash proceeds into his or her account. If the financial institution is not given any form of notification, proceeds from the mature term deposit automatically rolls itself over to another term deposit with the same fixed term as before. The interest rate can potentially be lower than the previous rate given that each new deposit is set at the current rate. A term deposit is the opposite of a demand deposit, in which the investor is free to withdraw his or her funds at any time. As a price for the convenience of withdrawal at any time, demand deposits generally pay lower interest rates than term deposits.

• Instant access to cash, free day-to-day transactions, and fee-free currency conversion are just a few of the benefits – visit individual account sites for more information.
• Except for the Cash Hub Account, which can only have two joint account holders, other personal accounts can have up to four joint account holders.
• Complementary accounts that work together to meet the demands of each individual's cash portfolio.