With your Term Deposit maturing soon, please see the below matruity options as well as our current interest rates.

Your options at maturity

There are a number of options available to you at the time your Term Deposit matures:

  • Reinvest your funds for the same term on the date your Term Deposit matures. Please note this will automatically happen if maturity instructions aren’t provided.  
  • Partially reinvest an amount and the term you would like it invested. We will place any funds not reinvested into your Bank of Sydney Transaction Account.
  • Increase your investment by providing additional funds to your Term Deposit. 
  • Change the term and reinvest your funds for a new term between 1 to 13 months.
  • Withdraw all your funds at maturity.

Please note all investments and reinvestments are subject to the interest rate applicable on the date your Term Deposit matures.

Providing maturity instructions

It’s important to provide maturity instructions before your Term Deposit matures.  If you haven’t already provided maturity instructions, please contact us by:

  • Sending a Secure Message via Internet Banking
  • Calling us on 13 95 00 (Mon - Fri, 9 am – 5pm AEST)

If your Term Deposit has already matured

If you haven't provided us with maturity instructions, your funds have already been reinvested for the same term and at the rate offered on your matruity date.

However, you also have a 7 day  period from the date of maturity in which you can make partial changes to your Term Deposit, including patrial withdrawals at no additional cost.

 

Term Deposit Annual Rate
1 month 1.25% p.a.
2 months 1.50% p.a.
3 months 3.85% p.a.
3 months (Online Only)* 4.40% p.a.
4 months 3.50% p.a.
5 months 3.50% p.a.
6 months 5.00% p.a.
6 months (Online Only)* 5.30% p.a.
7 months 3.70% p.a.
8 months 3.70% p.a.
9 months 4.00% p.a.
10 months 3.80% p.a.
11 months 3.80% p.a.
12 months 5.10% p.a.
12 months (Online Only)* 5.25% p.a.
13 months 4.05% p.a.
Fees & Charges
Early Repayment/Withdrawal Fee $30

 

FAQs

Interest is calculated daily from the date funds are deposited into your account, and paid at maturity.

You can open a Term Deposit by visiting any of our branches or submitting an online enquiry. 

When your Term Deposit matures, you have the following options:

  • Reinvest – Your funds will be automatically reinvested for the same term on the date your Term Deposit matures.
  • Partially reinvest – Keep some of your initial funds invested while withdrawing the rest. We’ll place any funds not reinvested into your Everyday Saver Account.
  • Increase your investment – Add additional funds to your investment for greater returns.
  • Change the term – Invest your funds for a new term of between 1 to 13 months.
  • Withdraw your investment – Withdraw all of your funds.
  • If you don’t provide us with instructions, we will automatically reinvest your funds for the same term. You then have 7 calendar days (5 business days) to provide alternative instructions in relation to your reinvested funds without incurring an interest reduction penalty.

You can send us instructions via secure message within Internet Banking, or by calling us on 13 95 00.

All investments and reinvestments are subject to the interest rate applicable on the date your Term Deposit matures. You can click here to view our current rates.

The easiest way to provide your Term Deposit maturity instructions to Bank of Sydney is by sending a Secure Message in Internet Banking.

To send a secure message in Internet Banking:

  1. Log into Internet Banking by visiting banksyd.com.au
  2. Click on the envelope icon on the top right corner of your home page
  3. Select ‘+ New Message’
  4. Type in your maturity instructions 
  5. Send 
  6. Confirm via SMS or push notification

Please note this function is only available on Internet Banking, and not via the mobile app.

We’ll send you a Notice of Renewal prior to your maturity date. If you don’t provide us with instructions after this notice is received, we’ll automatically reinvest your funds for the same term and at the rate applicable on that day. You have a 7 day (5 business day) period from the date of maturity in which you can make partial changes to your Term Deposit (inclusive of partial withdrawals) at no additional cost.

If you would like to withdraw funds from your account before maturity, you will need to provide Bank of Sydney at least 8 calendar days’ advance notice to withdraw your funds.

The 8 days’ notice period starts on the date you provide the written instructions to let us know you would like to withdraw your funds early. Your funds will be disbursed according to your selected method on the 9th day following your early repayment request.

For existing accounts, the early redemption notice period applies if you have reinvested your Term Deposit from 15 December 2021.

Early repayments attract an administration fee and a reduction in the return generated for the depositor. Please refer to the General Banking Fees & Charges Guide for information on how the reduction amount is calculated.

See all FAQs

We're here to help

If you haven’t notified us with your maturity instructions already, please contact us before your maturity date through any of the following options.

Submit a Service Request via Online Banking

Login

Talk to one of our friendly staff Mon-Fri (Excluding Public Holidays).

Call 13 95 00

*Rate only available for Term Deposits opened online. The minimum deposit amount for the Bank of Sydney Term Deposit is $1,000. For deposits above $1,000,000 rates are available upon request and applications must be made via a Bank of Sydney branch or calling 13 95 00. 

Interest Rates quoted are calculated on a per annum basis.

This is general information only, please take a moment to read through disclosure documents before applying.

Please take a moment to read through the below information before applying, as this advice is general and does not take into account specific individual needs.

General Banking Fees & Charges
Deposit, Saving & Transaction Accounts PDS

Target Market Determination (TMD) for these products is available here.

More information about our product and services is available here.

You do not have to quote your TFN for all or any of your accounts. If you choose not to quote your TFN or eligible exemption, your interest payments may be taxed at the maximum rate. We recommend you obtain your own independent tax advice.

Bank of Sydney is covered by the Australian Government Financial Claims Scheme (FCS) for amounts up to $250,000 per account holder. For more information about the FCS go to www.fcs.gov.au