Important Update

Released 3 Jan 2025, 12:03AM(UTC)
Location Impacted Online
Services Affected Fixed Term Deposit Accounts

Lowering our Fixed Term Deposit early redemption fee.

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Details

Good news! We’re lowering our Fixed Term Deposit early redemption fee. We understand that circumstances can change and there will be times when Members need to access their funds earlier than anticipated.

 

Previously, our early redemption fee was calculated on the entire deposit amount. Now, it’s calculated based only on the amount you choose to withdraw, reducing the fee you pay to access these funds sooner.

 

  • Old Fee: Principal x (Early Redemption Rate of (2.00%) x (days invested/365)
  • New Fee: Withdrawal Amount x (Early Redemption Rate of (2.00%) x (days invested/365)

 

This benefit is effective immediately. For more details, contact us or see the Fees and Charges Brochure.