Yes. However, you'll need to give ASB 31 days' notice or send an application for a term deposit early withdrawal under ASB’s hardship application where a reduced interest will be applied to the amount withdrawn early from your ASB term deposit.
No. When you’ve created a term deposit, you’re no longer allowed to add more money. But, upon maturity date, ASB gives you 5 days to add more money to your current investment.
Compound interest is an element that helps grow your investment faster. It's an interest earning on your interest. Compound interest is the secondary interest you earn when the principal and interest are combined. It's added to the principal interest that arises from the principal amount you've invested. Compound interest is available on term deposits for a period of 6 months or more, plus interest that is paid quarterly, yearly or on maturity.
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