What's a holding facility?
Our holding facility gives you some breathing space while you decide what to do with your money. It allows you to renew or withdraw your Term Deposit at any time.
- You can tell us to place the money from your Term Deposit in the holding facility up to one day before it's due to mature
- If your Term Deposit is in the holding facility you don't need to give us 31 days’ notice and won't incur prepayment costs if your Term Deposit has matured
- We pay interest every seven calendar days. The exception being when you withdraw money between the last and next payment date
- The holding facility isn’t recommended as a long term place to hold your money. If your Term Deposit remains in the holding facility for longer than 26 weeks we’ll automatically renew your term as a rolling 1 month Term Deposit at the advertised rate at the time
Note that interest rates may be lower than a renewed fixed term, and may be subject to change. Check out our latest holding facility interest rates.