To buy term deposits you need to have available funds in your InvestNow transaction account. You can deposit money to your InvestNow transaction account from your nominated bank account. Please note that the minimum amount for a term deposit purchase is $2,000.
To buy a term deposit, please follow these steps:
- Go to the Invest page
- Identify the bank and term for the term deposit you wish to buy, then click the rate
- Enter the dollar amount you wish to invest (you need to have at least this amount of available cash in your transaction account)
- Select your preferred rollover option – ‘Do not reinvest’, ‘Principal only’, or ‘Principal & interest’
- Click the Download link to read the bank’s Terms and Conditions
- Click the check box to show that you have accepted the Terms and Conditions
- Click “OK”
You can cancel a buy order until 12pm of the current business day. If you placed an order after 12pm on a business day or on a non-business day, you can cancel the order until 12pm on the next business day.