If your client wants to withdraw funds prior to maturity, you must provide us with at least 31 days' notice and a break fee may apply. If there is less than 31 days remaining of the term, the earliest your client can access their funds is at maturity.
You can’t partially withdraw funds before closing a term deposit.
You can request to close your client’s account and withdraw funds prior to maturity via:
Note: Ensure the request is sent from the email address of a registered financial adviser or support staff with full transact authority on the account to avoid processing delays.
For processing times please refer to Managing Term Deposit maturity and instructions.
If you close your client’s Term Deposit before the maturity date, we may apply a break fee.
The break fee equals 25% of interest earned on the Term Deposit as at the date of closure and will be deducted from the total interest payable to your client. Where the amount of the break fee exceeds the amount of interest payable on your client’s Term Deposit, we may recover the break fee by deducting the amount from the principal balance of your client’s Term Deposit.
You can get an estimated break fee by contacting us using live chat.
We may waive the notice period and/or break fee if your client is experiencing hardship.
Examples of circumstances which constitute hardship:
Examples of circumstances which don’t constitute hardship:
For more information about accessing your funds before maturity, you can get in touch with a Macquarie consultant using live chat in Adviser Online.
If your client is experiencing hardship, learn more about our approach to financial assistance.
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Chat in real-time with an adviser consultant Monday to Friday, 8am to 7pm Sydney time (excluding public holidays).
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