Term Deposits

Let us help you reach your investment goals sooner with a high interest term deposit.




$1,000 or more

Interest Paid

1 month TD1.1 At maturity
2 months TD2.1 At maturity
3 months TD3.1 At maturity
4 months TD4.1 At maturity
5 months TD5.1 At maturity
6 months TD6.1 At maturity
7 months TD7.1 At maturity
8 months TD8.1 At maturity
9 months* TD9.1 At maturity
10 months TD10.1 At maturity
11 months TD11.1 At maturity
12 months* TD12.1 At maturity
24 months* TD24.1 Yearly
36 months* TD36.1 Yearly
48 months* TD48.1 Yearly
60 months* TD60.1 Yearly

Rates effective from TermDeposits and subject to change without notice.

All rates shown are on a per annum basis.

For terms greater than 12 months interest must be paid at least annually.

*Promotional term deposit rate. Heritage sometimes offers term deposits which are priced higher than our standard term deposit. Because these term deposits often automatically renew at maturity for the same period but at a different interest rate, there is a risk you may move from a high to a low interest rate.

Learn about our Government Deposit Guarantee
Deposits with Heritage Bank in eligible accounts are guaranteed by the Federal Government’s Financial Claims Scheme with a Government Deposit Guarantee of up to $250,000.
Interest Rate Adjustments

There are no set up or establishment fees on Heritage term deposits. However, a reduced rate of interest will be paid for early maturity and for interest payment methods other than at maturity and yearly.

Interest paid up front

Only available for terms up to 12 months. For interest paid up front deduct 0.05% p.a from quoted interest rates

Interest paid fortnightly

Only available if you are 55 years or over and retired or eligible for a pension or hold a seniors card. For interest paid fortnightly deduct 0.05% from quoted interest rates

Interest paid monthly or quarterly

For interest paid monthly or quarterly, deduct 0.05% p.a from quoted interest rates

Interest paid half yearly

For interest paid half yearly, deduct 0.05% p.a from quoted interest rates

Early withdrawal rate

Should you decide to withdraw or transfer part or all of the account balance of your term deposit account after the grace period has expired but before the maturity date, you can ask us, subject to conditions.

When you do withdraw part or all of your deposit before the end of the term, we will pay a reduced rate of interest on the withdrawn amount. This reduced rate is called the early withdrawal rate. The early withdrawal rate is currently 0.10% p.a. 

The effect of the early withdrawal rate is to reduce your interest return, on the amount withdrawn, to the early withdrawal rate. For further information and examples of how the early withdrawal rate will affect our investment refer to the Guide to Deposit Products - Term Deposit section. 

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