FIXED TERM DEPOSIT
You’re throwing away money by not having your savings someplace that pays.
If you have some money that you don't need to immediately use and would like to earn some great interest on it, or if you’re saving hard for your first car or home deposit and would like a bit of help to get there sooner, then a Fixed Term Deposit might be just the thing for you.
A Fixed Term Deposit is a safe and secure investment where you don’t have to worry about any interest rate movements as you are guaranteed an agreed interest rate for the length of the term you choose, and with the range of terms at Holiday Coast Credit Union, there is likely to be a rate and term sure to suit your needs.
ABOUT THE PRODUCT
A Holiday Coast Fixed Term Deposit offers members a smart, safe investment option. Term deposits are lodgements of fixed amounts of money, which are paid an agreed interest rate that does not change during the agreed fixed period of time so you can be certain of the return you will receive.Various term options and deposit amount options are available so if you’re a small investor or a large one you can be guaranteed a great rate on your money.
ELIGIBILITY
Available to all Holiday Coast Credit Union members.
INTEREST RATES & PAYMENT OPTIONS
Interest is paid on the principal amount, and depending on which term you choose it can be paid either fortnightly, monthly, quarterly, annually or on maturity with payment made via electronic transfer to your nominated Holiday Coast Credit Union account or an external account. View current Fixed Term Deposit Interest Rates.
MINIMUM & MAXIMUM BALANCE
Minimum opening deposit amount is $1000.00 but we do have a special Fixed Term Deposit for our junior savers (members under 21 years of age) with a reduced minimum opening deposit of $500.00. There is no maximum balance amount.
Ongoing Account Keeping Fees
There are no on-going account keeping fees or transaction fees associated with this product. Many financial institutions now charge monthly or annual administration fees on some accounts. When comparing, don't just look at the interest rate; consider the 'total cost'. View Fees & Charges and Access Limits.
BENEFITS THAT DELIVER
- Various options that enable members to choose a term that suits their needs and circumstances
- Have interest directly credited to your nominated Holiday Coast or external account
- On renewal we give you a period of grace to change your instructions if your situation changes and you need to make a change to your investment
- Automatic reinvestment upon maturity in the same type of term deposit unless you specify otherwise
- Certainty of knowing exactly what return you will receive on your Fixed Term Deposit
- Penalty free withdrawal in special circumstances relating to the death or funeral expenses of a member
- Earn Member Reward Rebates+ to offset transaction fees on your other accounts
- Full-Service banking at our branches from Maitland to Coffs Harbour or speak to our locally based Member Contact Centre 8am - 6pm Monday, Wednesday, Thursday & Friday. 8am - 5pm Tuesday.
HOW TO OPEN AN ACCOUNT
Call into your local Holiday Coast Credit Union Branch or speak to a Holiday Coast Member Contact Team Member on 1300 365 7 24 (8am - 6pm Monday, Wednesday, Thursday & Friday. 8am - 5pm Tuesday) and get the complete rundown on a Holiday Coast Credit Union Fixed Term Investment Account.
DEPOSIT SECURITY
Holiday Coast Credit Union is licensed and regulated as an Authorised Deposit-taking Institution (ADI). ADIs are regulated by the Australian Prudential Regulation Authority (APRA). To check that you’re saving or investing with an ADI, check the list on the APRA website www.apra.gov.au/adi/. The Government Guarantee applies to our deposits.
Eligibility criteria, terms and conditions apply. Savings product is issued by Holiday Coast Credit Union Ltd. Conditions of Use (COU) applies and is available at our branches or by calling 1300 365 7 24. Information on this website does not take into account your personal needs and financial circumstances. We recommend that you read the COU and the Financial Services Guide (FSG) in considering if this product is right for you.