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  4. Term Deposit

Term Deposit

  • 1 month
  • Automatic maturity rollover
  • Joint application available
  • Maturity alert by email

Interest rate

1.25%

Maximum rate

4.90%

for 6 months

Term Deposit

  • 1 month
  • Automatic maturity rollover
  • Joint application available
  • Maturity alert by email

Interest rate

1.25%

Maximum rate

4.90%

for 6 months

RateCity says

"Help your savings grow by signing up for this competitive term deposit with automatic maturity rollover."

Pros and Cons

For Term Deposit

Benefits

  • Automatic maturity rollover
  • Maturity alert by email

Drawbacks

  • Interest cannot be paid to other institution
  • 31 days notice to withdraw funds before maturity and interest rate adjustment will apply to interest earned on funds

Heritage Bank Rate Term Deposit overview

For Term Deposit

Features

Min deposit

$1,000

Automatic maturity rollover

Maturity alert by phone

Maturity alert by email

Joint application available

Minimum Age Requirement

-

Notice period to withdraw

31

Is covered by government guarantee

Target Market Determination

Visit Heritage Bank, a trading name of Heritage and People’s Choice Limited to view Target Market Determination.

Interest

Interest Calculation Frequency

Daily

Interest Payment Frequency Options

Annually, At Maturity

Interest payment via other institution

Interest payment method

Cheque, Direct Credit, Rollover on maturity

Fees

Account keeping fee

$0

Early withdrawal fee

-

Rates

TermRates on deposit of ($1,000 - $99,999,999)
1 month1.25%
2 months1.50%
3 months3.95%
4 months3.60%
5 months3.60%
6 months4.90%
7 months3.95%
8 months3.95%
9 months4.80%
10 months4.15%
11 months4.15%
1 year4.75%
2 years4.20%
3 years4.00%
4 years4.00%
5 years4.00%

How to apply

If you'd like to apply for this term deposit or just get more information, follow the application process to speak to an Heritage Bank mortgage specialist.