Changing your term deposit maturity instructions.
ABC. 123. Sunday morning. How great are things when they’re easy? That’s why when you set up a new personal term deposit with ME, we ask for your maturity instructions at the same time.
Manage your maturity
You can change your term deposit maturity instructions whenever you like. We’ll send a reminder approximately 10 business days before your term deposit matures. Just make sure to let us know what you’d like to happen at least two business days before your term deposit matures.
Personal term deposits
For personal term deposits, if you have a Term Deposit with a term between 1 to 6 months, set up with interest paid at maturity, and do not provide maturity instructions at least two business days prior to the maturity of your term deposit, we will reinvest your term deposit on the maturity date:
- For a new term of the same length as the term that has ended.
- At the interest rate applicable on the maturity date for a deposit of that term (and amount) with the interest paid at maturity.
- On the same terms and conditions except to the extent determined by us.
- These details will be confirmed in the confirmation letter we send you once your term deposit matures and is reinvested.
- The interest rate on reinvestment may be higher or lower than your current rate.
If you have a Term Deposit with terms greater than 6 months (between 7 to 60 months), or with term between 1 to 6 months with interest paid monthly and do not provide maturity instructions at least two business days prior to the maturity of your term deposit:
- The account will be closed and the funds transferred to your nominated account.
- If maturity instructions are provided, you may reinvest your term deposit with a term of 6 months or less with interest paid at maturity.
You can also change your maturity instructions by:
Maturity options
There are a few different options to choose from for term deposits:
- From 31st October 2025, we only offer term deposits with Interest paid at Maturity for both new and reinvested term deposits. Additionally,
- From 31st October 2025, the options to add additional funds or make a partial withdrawal to reinvest the remainder of your term deposit will no longer be available.
- From 28th July 2025, you can choose to reinvest your term deposit with only available terms between 1 or 6 months while we wait for our new digital TD.
- Reinvesting the original amount, plus the interest earned into a new term deposit with terms terms between 1 or 6 months with interest paid at maturity.
- Reinvesting the original amount, and depositing the interest earned to your nominated account.
- Closing the term deposit with the original investment and the interest deposited to your nominated account.
Business term deposits
For business term deposits, reinvesment is no longer available from 5 February 2025 in accordance with terms and conditions. For support please contact us on 13 15 63.