If you have an Online Term Deposit (otherwise known as tddirect), you can manage your term deposit in online banking.
When your term ends, you have seven calendar days (we call that your ‘grace period’) to manage your term deposit, otherwise we’ll reinvest your balance for you for the same term, at the applicable rate. We’ll send you a letter to remind you when your term is about to end, and we'll also let you know on your term deposit account page in online banking.
During those seven calendar days, you can let us know whether you’d like to reinvest some or all your funds or close your account. You can also choose to add additional funds to be reinvested.
If you do reinvest, you’ll be able to choose from our available rates and terms – plus you’ll see how much interest you could earn.
Renewing and reinvesting your term deposit online is easy
- Log in to online banking and view your term deposit account page
- Select ‘Manage term deposit’
- Choose ‘Reinvest the current balance’ or ‘Add more funds and reinvest’. Alternatively, you can choose to withdraw some funds and reinvest, or close your account
- Choose a term from the list or set your own term – you can view the potential interest earned from each option
- Select ‘See your summary’ to view the details. If everything looks right, select ‘Yes, reinvest’ to finish renewing your online term deposit.
If you get stuck, you can message us anytime.
If you have any of our other term deposit accounts, you can manage your term deposit by messaging us in the app or online banking, calling us, or popping into a branch.