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RateCity Staff

By RateCity Staff

1 min read

When a term deposit reaches the end of its agreed term, this is called maturity. Once a term deposit reaches maturity it is up to the individual to notify the financial institution with instruction on what to do with their investment, for instance whether to reinvest or pay out the amount. If the financial institution is not notified often they will automatically roll over this amount for the same length of time, however the interest rate will be at the current rate, not necessarily the original rate.

If you are in the market for a term deposit, see the table below for a list of current specials for term deposits for less than 12 months from banks.

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