This is an investment where you deposit your money with the Credit Union for a fixed period. This period can range from three months to two years, and is structured to suit your needs.

Southern Cross Credit Union Term Deposits are a secure way to earn higher interest on money you don't need for a while.

Interest can be paid monthly, six monthly, annually and at maturity depending on the investment plan you choose. You will receive written advice concerning your deposit at lodgement and a certificate after maturity plus regular statements.

Term Deposits are not usually available prior to the conclusion of the agreed term, however in some circumstances, you may apply for early redemption of your Term Deposit. A lower interest rate* is paid on Term Deposits that are redeemed prior to their full term.

Conditions

Minimum Deposits
$2000 except I6, I9, I18, and I24, which require $5,000
Interest Paid End of Term.

Monthly Interest
Is available on deposits $10,000 and over, with 6 months minimum term and 12 months maximum term at a reduced rate of 0.25%.

Interest to be paid by cheque or transfer to a Savings Account. Existing deposits may continue to have monthly interest paid at a reduction of 0.25%.

The interest rate is fixed; It will not vary during the term regardless of movements of rates generally. Your deposit will be automatically renewed for a further term at the rate applicable, unless you instruct us otherwise.

Your term deposit will automatically be renewed at the rate current at the time of maturity unless written instructions are received prior to maturity or within 14 days of maturity.

Early Withdrawal Penalties
A current rate of 0.50% will apply to early withdrawals. (subject to change without notice)