How do I open a Member Term Deposit?

How do I open a Member Term Deposit?

You can open a new Member Term Deposit via Internet Banking by following the steps below. An Online Term Deposit can be opened for 3—12 months with the interest paid at maturity. 

If you wish to open a term deposit for terms over 12 months or want a different interest frequency, please complete the Term Deposit form and email to [email protected].

Step 1: Log in to Internet Banking.

Step 2: Navigate to ‘Self Service’ and select ‘Open New Account’.

Step 3: Select ‘Apply’ under the new Term Deposit section

Step 4: If you wish to add a joint holder to your Term Deposit, you can do so by selecting ‘Add Applicant’, otherwise select ‘Next’.

Step 5: Enter the deposit amount and select the term period from the drop down. Select ‘OK’ and the applicable interest rate will display. Select ‘Next’.

Step 6: Select the account you wish to transfer funds from via the ‘Internal Account’ drop down.

Step 7: Select your Principle and Interest maturity options from the respective drop downs, then select ‘Next’.

Step 8: Review the information entered under the Account Information heading. If you wish to make changes, do so by selecting ‘Back’.

Step 9: Enter your One Time Password received either via Token or via SMS sent to your mobile phone and select ‘Confirm’ to open your new Term Deposit.

Learn more about our Term Deposits