What’s a flexible term deposit?
Flexible term deposits often come with added features compared to a standard deposit – enabling you to customise your term deposit to suit your business needs.
Term deposits offer a low-risk way for businesses to grow their savings over a set time period.
With a term deposit, you lock away an amount of money for an agreed length of time (i.e. the term) and rate of interest.
Flexible term deposits often come with added features compared to a standard deposit – enabling you to customise your term deposit to suit your business needs.
Our Flexi Business Investment Account allows you to withdraw up to 20% of your money before the end of your term without interest adjustment or administration fees. The remaining 80% will continue to earn interest during the fixed term.
For example, imagine you open a Flexi Business Investment Account with:
This means you’ll have access to $4000 if you need it.
Six months after opening your term deposit, you withdraw $4000 from the flexible term deposit.
You don’t pay any fees or interest adjustments to withdraw the money and your remaining balance of $16,000 continues to earn 4.40% interest.
If you don’t make any withdrawals during your term, your $20,000 will earn 4.40% interest for the duration of your 12-month term.
A flexible term deposit can be beneficial for businesses who want to strike a balance between earning competitive interest rates and maintaining access to funds. This flexibility can be particularly appealing for businesses who want to keep access to some money in case of unexpected expenses or emergencies.
Discover our flexible business term deposit
Earn a fixed interest rate on your business savings with a Flexi Business Investment Account.
The target market for this product will be found within the product’s Target Market Determination.
This information has been prepared without taking into account your individual or business needs and objectives. You can view the General Information and Terms and Conditions for Business Investment Accounts, Electronic Banking Terms and Conditions (PDF) and our Financial Services Guide and should consider them before making any decision about these products and services.
^ Request for withdrawal on anything beyond the 20% portion on the Flexi BIA, or requesting withdrawal of all or part of your BIA, prior to the maturity date, is subject to you giving the Bank 31 days’ notice, fees and interest adjustments.