Home / Information for Investors / Term Deposits

If the volatility of your investments is keeping you awake at night you should know term deposits are available through your IOOF account for super and non-super investments.

You are now able to invest up to 80 per cent of your long-term savings, be it superannuation or non-superannuation money in a term deposit through your IOOF account.

• $5,000 minimum investment, up to a maximum of 80 per cent of your account balance
• 6 month and 12 month terms
• Competitive rates
• Fixed rate provides security during volatile times
• Certainty and peace of mind

A term deposit may be a suitable investment if you require a set time period and return. Investing through your superannuation or investment account means consolidated tax reporting and an opportunity to diversify your investments with a view to lowering risk.

Interest rates

The interest rate you earn will vary depending on the period of your investment. The interest rate applicable to a term deposit is the prevailing rate on the day the term deposit is opened. You can access the applicable interest rates here. These rates are subject to change.

What happens when the term ends?

At the end of the term, your investment (principal and/or interest) will be transferred into your Cash Account.

Can I withdraw my money before the end of the term?

Yes. Investing in a term deposit through your IOOF super or investment account permits redemption of the full investment prior to the maturity of the term deposit. Any early redemption is subject to an interest rate reduction.

How to invest

A term deposit may only be opened on the 15th* day of each month. Sufficient funds must be available in your Cash Account by the 10th of the month in which you intend to open the term deposit. If you are currently invested in one or more managed funds, you may need to redeem these investments to the extent necessary to fund the term deposit, allowing up to 10 days for this process to be completed. To open a term deposit, you must complete the relevant Investment Instruction / Authority form available from the documents and forms page of the product you are invested in. This form needs to be received by us on or before the 10th day of the month in which you intend to open the term deposit. Instructions received after this date will be will be taken as an instruction to open a term deposit on the 15th day of the following month.

For more information speak to your financial adviser or contact IOOF Client Services on 1800 062 963.