Term deposits

Macquarie offers two types of term deposits. The type of account you need depends on your entity type and whether you have a financial adviser.

Macquarie Digital Term Deposit:

• Eligible: Individual and joint account holders (without a financial adviser)

• Minimum deposit: $25,000

• Terms available: 3, 6, 9, or 12 months

• Interest payment: Paid at maturity

• Account linking: Requires a linked Macquarie Transaction or Savings Account

• At maturity: Automatically closes and funds return to your Linked account (no rollovers)

• Early withdrawal: 31-day notice required; interest rate adjusts to 0% for the notice period

Macquarie Term Deposit:

• Eligible: Individual and joint account holders (with a financial adviser), Companies, Trusts and SMSFs

• Minimum deposit: $5,000

• Terms available: Between 1- 12 months, or 2–5 years

• Interest payment: Monthly, quarterly, bi-annually, annually, or at maturity

• At maturity: Option to withdraw funds or roll over into a new term

• Early withdrawal: 31-day notice required; 25% break fee applied to accrued interest

For more information please visit our Help Centre.

You can check your account type by logging into your Macquarie Mobile Banking app or Macquarie Online Banking:

1. Select your term deposit from your account list.

2. Select I want to → view account and term details.

3. Under Product, it will specifically state whether it is a Macquarie Digital Term Deposit or Term Deposit (for Macquarie Term Deposit).

For more information please visit our Help Centre.

If you’re applying as an individual or joint account holder, you’ll first need to have a Macquarie Transaction or Savings Account in the same name(s) as the term deposit you’re applying for. If you don’t have a Macquarie Transaction Account, you can open one by completing the online application via Macquarie Online Banking or the Macquarie Mobile Banking app. Get more information on how to open a Macquarie Transaction Account.

For more information on how to open a Macquarie Digital Term Deposit please visit our Help Centre.

Note: Macquarie Digital Term Deposits are not available for clients with a financial adviser. Please contact your adviser to open a Macquarie Term Deposit.

To open a term deposit as a company or trust, you’ll need to open a Macquarie Term Deposit online.

Before you begin your application, you’ll need to select your account type (i.e company or trust).

To open a Macquarie Term Deposit, you need to:

• be an Australian resident

• be at least 18 years old

• have a minimum investment of $5,000

• have a driver’s licence or passport

• provide a nominated bank account for us to fund your term deposit

• provide your current email and mobile number.

As part of your application, you can elect the amount you want to invest, the frequency of your interest payments and which bank account your funds will be debited from and returned to when your term deposit reaches maturity.

Your nominated account must:

• be in the same name and structure as your term deposit

• be able to accept both direct debits and credits and

• contain sufficient funds for the investment amount

• not be a Macquarie Cash Management Accelerator Account or Macquarie Vision Savings Account.

For more information please visit our Help Centre.

If you hold a Macquarie Digital Term Deposit:
On maturity, your Macquarie Digital Term Deposit will be closed and your investment amount plus any interest earned will be returned to your linked Macquarie Transaction or Savings Account. Rollovers are not available for this product.

If you hold a Macquarie Term Deposit:
Before the maturity date of your Macquarie Term Deposit, you can provide maturity instructions via Macquarie Online Banking or Macquarie Mobile Banking app. This will tell us whether you want to:

• reinvest principal and interest

• reinvest principal only, or

• close your account and withdraw funds.

If you don't provide maturity instructions by the maturity date, your Macquarie Term Deposit funds will be automatically reinvested for the same term.

After your term deposit has matured, you will have a grace period of 5 business days or 7 calendar days (whichever is longer) to make certain changes to your term deposit details or close your account and withdraw funds. After this time, if you don't update your maturity instructions, your term deposit funds will be reinvested, and you will need to provide 31 days’ notice to withdraw it.

To find out more on how to provide maturity instructions, please see Viewing and managing term deposit maturity and instructions.

Macquarie Digital Term Deposit:
All deposits to a Macquarie Digital Term Deposit account are made by a transfer from the selected Macquarie Transaction Account or Macquarie Savings Account on account opening.

You can’t add additional funds to your Macquarie Digital Term Deposit during your investment term.

Macquarie Term Deposit:

All deposits to a Macquarie Term Deposit account are made via direct debit from a nominated bank account. The direct debit and nominated bank account are established during the account opening process.

Your term deposit will be funded overnight from the bank account that you nominated during the online application, and funds will appear in your account on the day after your Term Deposit has been opened.

You can’t add additional funds to your Macquarie Term Deposit during your investment term.

Visit Help Centre for more information.

Yes. The Australian Government guarantees aggregated deposits with Australian authorised deposit-taking institutions, including Macquarie Bank, of up to $A250,000.

The Financial Claims Scheme (FCS) is an Australian Government scheme that was established during the 2008 global financial crisis to provide financial protection for consumers in the unlikely event of a failure of a bank, credit union, building society or general insurer.

The FCS provides protection for depositors of banks, credit unions and building societies that are incorporated in Australia (also known as authorised deposit-taking institutions or ADIs), for deposits up to $250,000 per account holder per ADI. The scheme aims to return deposits to account holders within seven days of activation of the FCS.

The FCS can be activated by the Australian Government in the unlikely event that an ADI or general insurer fails.

Once activated, the FCS will be administered by APRA.

The objectives of the FCS are to:

• protect depositors of ADIs, and claimants of general insurers, from potential loss in the unlikely event of the failure of these institutions;
• provide depositors with prompt access to their deposits that are protected under the FCS; and
• support the stability of the Australian financial system.

Further information about the Government Guarantee can be obtained from the APRA website at www.fcs.gov.au.