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Term Deposit Grace Period

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Posted by Fishnenya Fishnenya
Message 1 of 3 904 Views

want to chat about term deposit. "When your term deposit matures, enjoy 7 days grace to consider your options". What does this mean.

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Term deposit grace period

Posted by SarahF SarahF
Message 2 of 3 903 Views

Hi @Fishnenya, thanks for the question. Grace period is for the 7 days from the date your term deposit matures. In this time you can either choose to reinvest or move your funds elsewhere. You can do this by popping into a Bankwest store or speaking with us via phone. If in the 7 days you do not do anything your savings will be reinvested for the same timeframe you choose previously with the interest rate based on the maturity date. Hope that helps.

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Re: Term Deposit Grace Period

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Posted by cgm cgm
Message 3 of 3 890 Views

What appeals to you about a term deposit @Fishnenya?

 

You might find some useful information in an earlier post - What incentive is there to choose a term deposit over an online savings account?

 

 

 

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