Heritage Bank Term Deposit

Growing your savings is easy when you know how to make a term deposit investment work for you. Plus, with a term deposit account like that from Heritage Bank which requires just a $1,000 minimum deposit you can have your funds working for you right now, and well into the future.

Inclusions of a Heritage Bank Term Deposit

A term deposit investment is easy to open with Heritage and even easier to stay in too, as there are no fees and nothing you need to do to make your money grow, your account does all that for you. A Heritage Bank term deposit may be for you if you are looking for:

A term deposit account with a low minimum balance. A term deposit account can be a great place to test the waters of investment to see if you like them, see if they work for your financial situation and to see if you have the discipline. Parting with just a $1,000 initial investment can help you decide if the returns you get from a term deposit account meet your future saving goals, and you can determine how easy it is for you to lock away a portion of your savings without any access to the funds.
A term deposit account which will negotiate a higher interest rate for a higher balance. If you have an investment of more than $250,000 Heritage will negotiate a higher interest rate just for you. This means you can put your savings to work for the long term, whether it is the profits from a house sale, an inheritance amount or a retirement fund; if you are investing for your retirement you are also eligible for fortnightly interest payments as part of your aged pension.
You can choose a term from one month to five years. You can also choose to have your interest paid fortnightly (if you are a pensioner), monthly, quarterly, six monthly, yearly or at maturity depending on whether you want to use your interest returns as income during your term, or whether you want to grow your investment interest so you can roll over your fund at maturity.
You can apply with an online application form. You simply need to download the application form from the Heritage website and return the completed form with your cheque deposit. If you are a new Heritage Bank customer, you will also need to send in an identification verification form which has been completed at a post office.

Compare Heritage Bank term deposit rates:

Comparisons made on investments of $5,000 with interest paid at maturity, or annually on terms longer than 12 months.
Investing for one month you can earn 3.00% interest.
Investing for one year you can earn 5.50% interest.
Investing for five years you can earn 5.80% interest.

Benefits of Starting on a Small Term Deposit

If you think you don’t have enough funds to make money from investments then you are missing out on the opportunity to create wealth and financial security for your future. Starting your investments in a term deposit account from just $1,000 can grow into a thriving balance if you can control it:

Heritage Bank term deposits require just $1,000 to invest. A $1,000 investment will be well spent in a term deposit account, deposit it being a negligible amount. You could easily blow $1,000 in a night on the town or a weekend away, but by investing it in a term deposit you can grow it into a holiday house for many more weekends away and you won’t even notice the money is gone.
You won’t miss your initial investment. One your term deposit investment is deposited with Heritage you can forget all about it, and because you do forget about the money you can keep reinvesting so it can keep growing. It is easy to set up an automatic rollover of your term deposit at maturity and that can include both the principle and the interest, because you’ve learned to live without both. However, as you rollover your term deposit your balance grows and so too does the interest rate you earn, until you can afford to negotiate your own personal interest rate with the Society.

To make comparisons of the top term deposit accounts in Australia for short or long term investments, use our comparison tables here. When you have made a choice about the best term deposit for your investment needs you can follow our secure links and find out more or apply today.