Breaking down investment jargon
$1,000 or more
|1 month||At maturity|
|2 months||At maturity|
|3 months||At maturity|
|4 months||At maturity|
|5 months||At maturity|
|6 months||At maturity|
|7 months||At maturity|
|8 months||At maturity|
|9 months*||At maturity|
|10 months||At maturity|
|11 months||At maturity|
|12 months*||At maturity|
Rates effective from
All rates shown are on a per annum basis.
For terms greater than 12 months interest must be paid at least annually.
*Promotional term deposit rate. Heritage sometimes offers term deposits which are priced higher than our standard term deposit. Because these term deposits often automatically renew at maturity for the same period but at a different interest rate, there is a risk you may move from a high to a low interest rate.
There are no set up or establishment fees on Heritage term deposits. However, a reduced rate of interest will be paid for early maturity and for interest payment methods other than at maturity and yearly.
Only available for terms up to 12 months. For interest paid up front deduct 0.05% p.a from quoted interest rates
Only available if you are 55 years or over and retired or eligible for a pension or hold a seniors card. For interest paid fortnightly deduct 0.05% from quoted interest rates
For interest paid monthly or quarterly, deduct 0.05% p.a from quoted interest rates
For interest paid half yearly, deduct 0.05% p.a from quoted interest rates
Should you decide to withdraw or transfer part or all of the account balance of your term deposit account after the grace period has expired but before the maturity date, you can ask us, subject to conditions.
When you do withdraw part or all of your deposit before the end of the term, we will pay a reduced rate of interest on the withdrawn amount. This reduced rate is called the early withdrawal rate. The early withdrawal rate is currently 0.10% p.a.
The effect of the early withdrawal rate is to reduce your interest return, on the amount withdrawn, to the early withdrawal rate. For further information and examples of how the early withdrawal rate will affect our investment refer to the Guide to Deposit Products - Term Deposit section.