Savings

[#1]

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

[#2 · Accepted solution]

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.

[#3]

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?