Our term deposit pages now feature codes to help you assess how each institution credits you with your interest earnings, and how often you can have interest paid out.
For details on compounding (which is where interest is credited, but not paid out), see our Consumer Guide here >>>
CREDIT
When interest is earned on a term deposit, it is credited to your account. How often an institution does that varies widely. The following codes (the first letter) indicate:
| A |
Annually |
| S |
Semi-annually |
| Q |
Quarterly |
| M |
Monthly |
| F |
Fortnightly |
| W |
Weekly |
| D |
Daily |
| X |
every 3 mths or at maturity, whichever is less |
| Y |
at Maturity for less than 6 mths, otherwise quarterly |
| Z |
at Maturity, ie simple interest |
Please note that if you do not agree crediting arrangements in advance, the institution may use it's default policies and these may be different to what is shown on our web pages. Our pages are intended as a guide only. Only the institution can advise you of its actual policy.
PAID
Our pages also indicate the earliest an institution will pay out interest earned and credited. You can usually make arrangements to defer payments to a slower schedule, or leave it to accrue in your account. The following codes (the second letter) indicate:
| A |
Annually |
| S |
Semi-annually |
| Q |
Quarterly |
| M |
Monthly |
| * |
Non-compounding monthly interest avail. Conditions may apply. |
| F |
Fortnightly |
| X |
every 3 mths or at maturity, whichever is less |
| Y |
at Maturity for less than 6 mths, otherwise quarterly |
| Z |
at Maturity |
Please note that if you do not agree payment arrangements in advance, the institution may use it's default policies and these may be different to what is shown on our web pages. Our web pages are intended as a guide only. Only the institution can advise you of its actual policy.
Back to our term deposit page for less than 1 year >>>
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