What’s a term deposit holding facility?
Last updated 01 December 2017
As a feature of your Term Deposit, the holding facility allows you to renew or withdraw at any time without providing 31 days’ notice or incurring prepayment costs after your Term Deposit has matured. This gives you more flexibility and time to decide what to do with your funds.
When your funds are in the holding facility, interest is paid every seven days until we receive your instructions. Bear in mind you will not receive interest for the seven-day period if the withdrawal of funds falls between the last interest payment date and the next interest payment date.
You can plan ahead and tell us to place your Term Deposit funds in the holding facility at any time during your term, so long as it’s up to one day prior to your term deposit maturity date.
Discover more about term deposit holding facility interest rates