Macquarie Bank Term Deposit Product Details

Trust in a Macquarie Bank Term Deposit

Macquarie Bank is not the biggest financial institution in Australia but they are fully licensed and regulated. Macquarie is an Authorised Deposit-taking Institution (ADI) just as all retail banks in Australia are required to be, and also pioneered the first cash management trust in Australia in 1980.

Interest Rates on Macquarie Term Deposits

For investments of $10000 or more, with interest selected to be paid at maturity, you can take advantage of the following interest rates:

Benefits of Cash Investments

Where the quick and the brave have been able to profit from the volatility of shares and the property market, many of these people are also likely to be the ones who lost a lot of money when the GFC hit in the first place. However, cash investments are a safe way for those looking to invest to be assured of their investment, and of their return. Cash investments are able to diversify across the different asset classes, where shares are invested in just shares, and property in just property.

A cash investment in a term deposit is also guaranteed and secured for the term of the investment so you can be sure that your principal investment and your returns will be paid back to you at maturity. Also, because a term deposit investment is locked away, you are able to attract a much higher interest rate than in an at call, high interest savings accounts.

Benefits of a Macquarie Term Deposit

On top of the security of investing with a trusted financial institution, with a Macquarie Term Deposit you can also be secure in the knowledge you won’t be charged any transaction fees for your term deposit account. You can also choose a term for your investment of anywhere between one and 24 months, with the option for your returns to be paid quarterly, or at maturity; alternative interest rates apply if you choose a quarterly payment.

Term Deposit at Maturity

When your chosen term for your term deposit comes to an end, you don’t have to automatically look for new investment options. With Macquarie Bank it is easy for you to reinvest at maturity, as your term deposit will automatically roll over for the same term, at the current interest rate.

If you choose, you can instead roll over just the principal investment and have your interest paid out, you can add additional funds to your investment or have both the principal and the interest paid out, and re-evaluate your investment options.

To Apply for a Macquarie Term Deposit

If you’re now convinced that a Macquarie Term Deposit is just the thing for your investments, you can apply online or over the phone:

• Before commencing your application have your personal details, bank account details, drivers’ license and passport number and the details of any joint account holders.
• You can print out the application form from the Macquarie website, or fill it out on screen.
• If you choose to fill out your application form on screen, you will still need to print the form and send it back to Macquarie with copies of your identification, a bank statement or deposit slip and a cheque if this is how you choose to deposit your investment.
• The application form allows you to choose your investment amount and term, and whether you want your interest to be paid quarterly. There is no calculation of the applicable interest rate at this point, so if you are choosing an alternative option to the rates listed above, you may want to check the interest rate which will be applied to your investment.
• You can enter your bank account details to have your investment directly debited from your account, to your Macquarie Term Deposit.

Once your application form and paperwork have been received by Macquarie Bank, your term deposit will be opened in one to two business days. Your account will then be confirmed by mail within five to ten business days. Once your account is opened and confirmed you will be provided with account and access numbers to allow you to view your term deposit online; this allows you to see the progress of your investment.

After your term deposit has been opened and confirmed with your investment amount, there is nothing else required of you, one of the best parts of investing in a term deposit. You are not required to manage your funds or review your investment, and instead you are free to get on with your life, while enjoying your accruing interest. If a term deposit seems like an investment option which suits your financial goals and desired lifestyle. .