Fixed Rate Term Deposit
The Fixed Rate term deposit account allows you to lock in a competitive interest rate for a fixed period of time, thereby guaranteeing your return for the period. This account is very useful to lock in interest rates when they are seen to be at a market high.
The range of terms that are available allow flexibility for short, medium, or longer investment choices, or a combination of all three.
Account features at a glance -
- Choice of terms from 1 to 36 months
- You receive very competitive interest rates
- Minimum deposit only $1,000. Maximum $500,000
- Two tier interest rate with a higher rate for balances above $5,000
- From time to time negotiated rates may be available for larger amounts
- Interest payment frequency is reviewable and will be set from time to time
- Interest payments may be compounded, transferred into another account, or paid out by cheque
- When you deposit your funds initially you will be issued with a term deposit certificate
- Just prior to your term deposit maturing you will receive a maturity advice notice, indicating that you have options on maturity to re-invest your money, transfer it to another account or withdraw your funds
- Your term deposit does not incur any fees, even when paid out by bank cheque
If you are opening a CBS Canterbury account for the first time call 0800 CBS CBS (0800 227 227) to find out about making the process simple, then drop into a branch to complete the application.