Term Deposit maturity and instructions

Term deposit maturity refers to the date at which your investment ends. The maturity date of your term deposit is selected when you open the account.  

You can only withdraw the full amount from your term deposit at maturity. If you withdraw your funds from the term deposit account, the account will be closed.

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. For more information about withdrawals, see our Help Centre article on withdrawing or depositing money into a term deposit.

You can provide maturity instructions for your term deposit via Macquarie Online Banking or the Macquarie Mobile Banking app to:  

• reinvest principal and interest
• reinvest principal
• fully withdraw
• change the term of the deposit.

You can update your term deposit maturity instruction anytime during the life of your term deposit and within a grace period of 5 business days or 7 calendar days (whichever is longer), 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.

For term deposit lodgement times, please refer to the Macquarie Bank Term Deposit Product Information Statement.