We use cookies to provide you with the best possible online experience. Read more

Term deposits are a secure, easy way to earn
interest on your investment

Have you ever wondered whether a term deposit was the right option for you? If you have, read on:

Friday, 9 November, 2018

By Rebecca Conte Treasury Retail Manager

There are many reasons why a term deposit could be a great option for you to earn interest on your deposited investment. A term deposit can help you save money for a holiday, boost your retirement funds, put away a nest egg for yourself or for a child, or it could help you stick to some other savings goals. 

So what exactly is a term deposit? A term deposit is an investment product with which customers deposit a sum of money with an agreement to leave it alone, without withdrawing, for a fixed term. There are no other ongoing conditions; simply deposit your money and let it earn interest for you. 

Newcastle Permanent has three great term deposit options that offer fixed rates of interest on the amount invested for the term you select, with no annual or monthly account keeping fees.

With a Fixed Term Deposit, you can get started with as little as $1,000 and invest from one to 12 months *. Gold Term Deposits are for investments of $200,000 or more and allow you to select a term from 21 days up to five years, with a range of interest payment frequencies (depending on the term selected). For people who have $500,000 or more to invest, we offer a Platinum Term Deposit. The Platinum Term Deposit involves a fixed portion of your investment that can be invested anywhere from 21 days to 5 years and a Platinum At-Call Account that provides a variable interest rate with no fixed term. There are of course terms and conditions that apply to each of our term deposit accounts, so see our website or contact us for those.

There are a few reasons why Newcastle Permanent’s term deposits are a great option. For one, we are a customer-owned institution. 

A man carrying a woman through vineyards
A term deposit could be a great option for you.

That means we’re not in the business of maximising profits for shareholders because we don’t have any.

We want our customers to get the most out of their banking with market-leading products, competitive interest rates and, most importantly, outstanding customer service. Our governance model assures that is always our focus.

Another differentiating factor for us is that customers who have a Gold Term Deposit or Platinum Term Deposit have access to our expert Treasury Team, which will help make investing easy for you.

This is what our Treasury Team can offer you:

  • Friendly, personalised service that includes a phone call for maturing investments
  • Assistance with the account opening process
  • Processing of transactions on your behalf
  • Strong values-led team that puts customers first
  • Combined, almost 30 years of experience in Newcastle Permanent products and services
  • Notification of investment maturity via statements, which can be emailed or posted
  • Confirmation of reinvestment statements, which can be emailed or posted
  • End of Financial Year statements, which can be emailed or posted

The other benefits of investing in a Gold or Platinum Term Deposit are:

  • No annual or monthly account keeping fees
  • Guaranteed rate of return
  • A range of convenient interest payment frequencies: monthly, quarterly, six monthly, annually or maturity (depending on the term selected)
  • Deposits up to $250,000 per account holder are guaranteed under the Australian Government Financial Claims Scheme 

If you’d like to discuss a term deposit and what makes Newcastle Permanent different to the major banks, please give one of our friendly Treasury Team members a call on 02 4927 4559 or email us at Treasury@npbs.com.au

*One and two month terms only available for amounts above $100,000.

Any information contained in this article has been prepared without taking into account your objectives, financial situation or needs (your personal circumstances). Because of that, before acting on the advice, you should consider the appropriateness of the advice having regard to your personal circumstances. You should consider the terms and conditions before deciding to acquire any of these products.

Latest News