Term deposit

To open a Macquarie Term Deposit account, you’ll need to complete an online application. We’ve designed this process to be as quick and easy as possible. Before you start your application, you’ll 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 the account details for us to direct debit to fund your Term Deposit (this must be in the same name as your Term Deposit)
• provide your current email and mobile number.

You can elect the amount you wish to invest, the frequency of your interest payments and bank account from which your funds will be debited and returned upon maturity of your Term Deposit account within your application.

Your nominated account must be in the same name as your Term Deposit, be able to accept direct debits and credits, contain sufficient funds for the amount of your investment and cannot be a Macquarie Accelerator or third-party account.

If you are an existing Macquarie customer, you can find your Macquarie ID via the Macquarie Mobile Banking app by selecting Menu, or on Macquarie Online Banking by selecting your profile on the top right of the screen.

If you have forgotten your Macquarie ID, you can retrieve it by selecting Forgot log in details on the login screen.

To apply for a Macquarie Term Deposit account:

1. Go to macquarie.com.au/termdeposits
2. Select Apply now
3. Select the account type you are applying for
4. Select Next
5. Enter the details for all applicants and account information
6. Enter the deposit amount, noting the minimum deposit is $5,000
7. Select the interest payment options including the frequency and payment method
8. Enter the details of the account to be debited for your deposit. This is also the account the funds will be returned to upon closure of your Term Deposit. This account must be in the same name as the Term Deposit
9. Review application once the application is completed. You can make edits by selecting Edit on the relevant section
10. Select Next once you’re ready to submit the application
11. You and additional applicants (if any) will receive an email with a link to submit your application and a completion PIN
12. Enter your completion PIN and tick the box confirming you’ve read and agree to our terms and conditions
13. Select I accept. This must be completed by each additional applicant (if any) before the application is submitted. If you need to pause your application partway through, we’ll send you an email so you can resume it when you’re ready.

If you’d like to open an additional Term Deposit, simply repeat the same steps above.

For our latest Term Deposit rates, please visit macquarie.com.au/termdeposits.

Yes, you can open a Macquarie Term Deposit if you:

• are 18 years old or over
• are a permanent resident of Australia; and
• have a minimum investment of $5,000.

To open an account, you’ll need to complete an online application. Before we can open your account, we’ll verify your identity and may ask you for some additional information. When your application has been approved, we’ll direct debit the funds from the account number that you nominate on your application. We recommend reading our terms and conditions before applying.

To apply for a Macquarie Term Deposit account:

1. Go to macquarie.com.au/everyday-banking/term-deposits
2. Select Apply now.

If you need to pause your application partway through, we’ll send you an email so you can resume it when you’re ready.
If you’d like to open an additional Term Deposit, simply follow the same steps above.
Current Term Deposit rates are also available by following the above link.

You can update your Term Deposit maturity instruction anytime during the life of your Term Deposit and up to 5 business days after your Term Deposit has matured. 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.

You can provide maturity instructions for your Term Deposit via Macquarie Online Banking or Macquarie Mobile Banking app to:

• reinvest principal and interest
• reinvest principal
• fully withdraw.

To provide maturity instructions in Macquarie Online Banking:

1. Hover on your Term Deposit account in the account list
2. Select I want to
3. Select View account details in the menu drop-down
4. Select Update maturity instructions under the Maturity instructions section.

Alternatively, you can:

1. Select your Term Deposit account from the account list
2. Select I want to in the banner near your account product name (or account nickname)
3. Select View account details in the menu drop-down
4. Select Update maturity instructions under the Maturity instructions section.

To provide maturity instructions in the Macquarie Mobile Banking app:

1. Select your Term Deposit account from the account list
2. Select the I want to button
3. Select View account details in the menu
4. Scroll down and select Update maturity instructions under the Maturity instructions section.

For maturity instructions outside the above options (such as partial withdrawals and additions), please email transact@macquarie.com.

If you need to change the linked bank account for your Term Deposit, please see How do I change my nominated account on my 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. Additional deposits can be made on the maturity date.

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.

Funds may be withdrawn on maturity and will be electronically paid to the nominated bank account. If no instructions are received by the maturity date, your term deposit will automatically roll over for the same term at the applicable interest rate offered on that maturity date. For our latest Term Deposit rates, please visit macquarie.com.au/termdeposits.

If you wish to withdraw funds prior to maturity you must usually provide us with 31 days’ notice. If you have less than 31 days remaining of your term, the earliest you can access your funds is at maturity. In cases of financial hardship, the notice period may be waived. If you close your account prior to maturity, we will apply an interest adjustment. For further support including accessing funds before maturity, contact your financial adviser, or call us on 1800 806 310, 8am to 7pm (Sydney time) Monday to Friday.

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.