A term deposit normally earns a simple interest only. If you choose to have a compound interest on your term investment, the interest on the previous month will be added to your deposit balance. This can help you earn more on top of your Heartland Bank term deposit interest rates, allowing you to save more with a simple term deposit.
Receiving your returns depends on your agreed interest frequency or how often you want to get paid. You can be paid monthly, three monthly, quarterly, or at maturity date. If you opt for terms of 1 year or longer with a minimum deposit of $10,000, returns can be made monthly to your chosen NZ bank account.
Yes. Heartland Bank will send you notice days prior to the maturity of your term deposit to give you ample opportunity to decide whether to reinvest the entire balance, a portion of your balance or send the matured funds into another bank account.
Yes. You can still open a heartland term deposit account using a different bank. But, you can always sign up with Heartland Bank and later access your online account for easy access and efficient banking.
Yes. Although term deposit is a fixed term investment, customers can request for an early withdrawal of their deposits provided that they send a written request to Heartland Bank. However, interest rate is reduced insofar as your deposit is concerned.
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