What you need to open a Term Deposit

At the start of the online application for a Macquarie Term Deposit, you’ll be asked to select the type of account you want to open. This article explains what information you’ll need to provide, which depends on the account type.

For more information on how to apply, see Open a Macquarie Term Deposit.

For more information on certification requirements, please visit our client identity verification FAQs.

To apply for a Term Deposit for individuals, you’ll need to have a Macquarie transaction account. For more information on how to apply, see Open a transaction or savings account.

Once you have a transaction account, to open a Term Deposit you just need to provide the following information to us:

1. Term Deposit details:
   • Deposit amount (minimum $5,000)
   • Investment term
   • Interest frequency.
      
2. Account details:
   • Nominate an account to direct debit the Term Deposit amount
   • Tax File Number (optional).

Ready to open an account?

You can submit your application online, or via the Macquarie Mobile Banking app.

To apply for a Term Deposit for joint accounts, you’ll need to provide the following information to us:

1. Applicant’s details:
   • Full legal name (including any middle names)
   • Any other names known by
   • Date of birth
   • Mobile number
   • Email address
   • Residential address
   • Occupation
   • Source of wealth 
   • Tax File Number (optional)
   • Details of any foreign tax residency, including a Tax Identification Number (TIN) if applicable
   • Identification information (Australian driver licence or Australian passport). If we can't electronically verify the client, we’ll require a certified copy of ID. For more information, refer to our Term Deposit Application Guide.
      
2. Term Deposit details:
   • Deposit amount (minimum $5,000)
   • Investment term
   • Interest frequency
   • Interest payment method.

3. Nominated bank account details to be debited for the deposit:
   • BSB
   • Account Number
   • The linked account name must be in the same name as the Term Deposit. If the direct debit fails, we’ll contact you. If we don’t hear back from you within 5 business days, we’ll cancel your application and you’ll need to reapply.
      
4. Additional details:
   • How the account will mainly be funded
   • What the account will be mainly used for
   • Mailing address.

Ready to open an account?

You can submit your application online.

To apply for Term Deposit account for an unregulated trust, you’ll need to provide the following documents:

• A certified copy of the Trust Deed, or a signed letter on letterhead dated within the last 12 months from a solicitor or qualified accountant for all trust applications that confirms the name of the Trust, Trustee(s), Settlor, Beneficiaries or Class(es) of beneficiaries and Appointors/protectors (if any).
• For a unit trust, a certified copy of the unit registry.
• For more information on certification requirements, please visit our client identity verification FAQs.

You’ll also need to provide the following information:

1. Let us know if you’d like to open an individual trustee or a company trustee account.
   
   
2. Trust details, including:
   • Name of the trust
   • Full name of business (if any)
   • Australian Business Number (ABN) and Tax File Number (TFN), or a reason for exemption
   • Details of any foreign tax residency. Please note, we’re unable to accept applications for foreign trusts or entities.
   • Source of wealth
   • The type of trust
   • Trust description
   • The industry in which the trust operates in
   • The nature of the trust activity
   • If the controlling parties are also beneficiaries
   • The category of the trust (Active Non-Financial Entity (NFE), Financial Institution, Australian Registered Charity or Deceased Estate, or other.
      
3. Trust settlor details. If the sum of the trust is more than $10,000 on establishment, please provide the following:
   • Confirmation of the entity that settled the trust, including the name of the individual, company or trust who is the settlor.
   • If the settlor is a company, provide the ACN
   • If the settlor is a trust, provide the ABN of the trust.
      
4. Trustee details, including: 
   • For an individual trustee:
     • Full legal name (including any middle names) 
     • Any other name known by
     • Date of birth 
     • Mobile number
     • Email address 
     • Residential address
     • Occupation 
     • Source of wealth
     • Identification information (Australian driver licence or Australian passport). If we can't electronically verify the trustee, we’ll require a certified copy of your ID. For more information, refer to our Term Deposit Application Guide. 
        
   • For a company trustee: 
     • The company’s name and ACN
     • Industry in which the company operates
     • Source of wealth
     • Registered office and principal place of business address/es
     • Company officer details, including:
       • Title
       • Full legal name (including any middle names)
       • Any other name known by
       • Date of birth
       • Occupation
       • Mobile number
       • Email address
       • Residential address
       • Source of wealth
       • Identification information (Australian driver licence or Australian passport). If we can't electronically verify the company officer, we’ll require a certified copy of ID. For more information, refer to our Term Deposit Application Guide.
          
   • Company beneficial owner details, including:
     • Full legal name (including any middle names)
     • Date of birth
     • Occupation
     • Mobile number
     • Email address
     • Residential address
     • Source of wealth
     • Identification information (Australian driver licence or Australian passport). If we can't electronically verify the beneficial owner, we’ll require a certified copy of ID. For more information, refer to our Term Deposit Application Guide.
        
5. Trust beneficial owner details, including: 
   • Full legal name (including any middle names)
   • Date of birth 
   • Occupation
   • Mobile number 
   • Email address
   • Residential address 
   • Source of wealth
   • Role in the entity  
   • Identification information (Australian driver licence or Australian passport). If we can't electronically verify the beneficial owner, we will require a certified copy of ID. For more information, refer to our Term Deposit Application Guide.
   • Please see Beneficial ownership requirements for more information. 
      
6. Trust beneficiaries’ details for all the beneficiaries listed in the trust deed, including: 
   • If they’re an individual, entity or class of beneficiaries
   • Name of individual beneficiaries 
   • Description of classes of beneficiaries (e.g. children). 
     
     
7. Term Deposit details: 
   • Deposit amount (minimum $5,000)
   • Investment term 
   • Interest frequency
   • Interest payment method. 
      
8. Nominated bank account details to be debited for the deposit:
   • BSB 
   • Account Number
   • The linked account name must be in the same name as the Term Deposit. If the direct debit fails, we’ll contact you. If we don’t hear back from you within 5 business days, we’ll cancel your application and you’ll need to reapply. 
      
9. Additional details:
   • How the account will mainly be funded 
   • What the account will be mainly used for
   • Mailing address. 

Ready to open an account?

You can submit your application online. 

To apply for Term Deposit account for a Self-Managed Super Fund (SMSF), you’ll need to provide the following information:

1. Let us know if you’d like to open an individual trustee or a company trustee account.
   
   
2. Trust details, including:
   • Name of the trust
   • Full name of business (if any)
   • Australian Business Number (ABN) and Tax File Number (TFN), or a reason for exemption
   • Details of any foreign tax residency. Please note, we’re unable to accept applications for foreign trusts or entities.
   • Source of wealth.
      
3. For clients applying without an adviser, you’ll also need to provide the following:
   • A certified copy of the Trust Deed, or a signed letter on letterhead dated within the last 12 months from a solicitor or qualified accountant for all trust applications that confirms the name of the Trust, Trustee(s), Settlor, Beneficiaries or Class(es) of beneficiaries and Appointors/protectors (if any).
      
4. Trustee details, including: 
   • For an individual trustee:
     • Full legal name (including any middle names) 
     • Any other name known by
     • Date of birth 
     • Mobile number
     • Email address 
     • Residential address
     • Occupation 
     • Source of wealth
     • Identification information (Australian driver licence or Australian passport). If we can't electronically verify the trustee, we’ll require a certified copy of your ID. For more information, refer to our Term Deposit Application Guide. 
        
   • For a company trustee: 
     • The company’s name and ACN
     • Industry in which the company operates
     • Source of wealth
     • Registered office and principal place of business address/es
     • Company officer details, including:
       • Title
       • Full legal name (including any middle names)
       • Any other name known by
       • Date of birth
       • Occupation
       • Mobile number
       • Email address
       • Residential address
       • Source of wealth
       • Identification information (Australian driver licence or Australian passport). If we can't electronically verify the company officer, we’ll require a certified copy of ID. For more information, refer to our Term Deposit Application Guide.
          
   • Company beneficial owner details, including:
     • Full legal name (including any middle names)
     • Date of birth
     • Occupation
     • Mobile number
     • Email address
     • Residential address
     • Source of wealth
     • Identification information (Australian driver licence or Australian passport). If we can't electronically verify the beneficial owner, we’ll require a certified copy of ID. For more information, refer to our Term Deposit Application Guide.
        
5. Trust beneficial owner details, including: 
   • Full legal name (including any middle names)
   • Date of birth 
   • Occupation
   • Mobile number 
   • Email address
   • Residential address 
   • Source of wealth
   • Role in the entity  
   • Identification information (Australian driver licence or Australian passport). If we can't electronically verify the beneficial owner, we will require a certified copy of ID. For more information, refer to our Term Deposit Application Guide.
   • Please see Beneficial ownership requirements for more information. 
      
6. Term Deposit details: 
   • Deposit amount (minimum $5,000)
   • Investment term 
   • Interest frequency
   • Interest payment method. 
      
7. Nominated bank account details to be debited for the deposit:
   • BSB 
   • Account Number
   • The linked account name must be in the same name as the Term Deposit. If the direct debit fails, we’ll contact you. If we don’t hear back from you within 5 business days, we’ll cancel your application and you’ll need to reapply. 
      
8. Additional details:
   • How the account will mainly be funded 
   • What the account will be mainly used for
   • Mailing address. 

Ready to open an account?

You can submit your application online. 

To apply for a company or business Term Deposit, you’ll need to provide the following information:

1. Company applicant details, including:
   • Company name
   • ACN
   • Australian Business Number (ABN) and Tax File Number (TFN), or a reason for exemption
   • Details of any foreign tax residency. Please note, we’re unable to accept applications for foreign trusts or entities
   • Industry in which the company operates
   • Source of wealth
   • The company type (Active non-financial entity (NFE), financial institution, Australian registered charity or other)
   • Registed office and principal place of business address/es:
     • Title
     • Full legal name (including any middle names) 
     • Any other name known by
     • Date of birth 
     • Occupation
     • Mobile number
     • Email address 
     • Residential address
     • Source of wealth
     • Identification information (Australian driver licence or Australian passport). If we can't electronically verify the trustee, we’ll require a certified copy of your ID. For more information, refer to our Term Deposit Application Guide. 
        
   • Company beneficial owner details, including:
     • Full legal name (including any middle names) 
     • Date of birth 
       
     • Occupation
     • Mobile number
     • Email address 
     • Residential address
     • Source of wealth
     • Identification information (Australian driver licence or Australian passport). If we can't electronically verify the trustee, we’ll require a certified copy of your ID. For more information, refer to our Term Deposit Application Guide. 
       
       
2. Term Deposit details: 
   • Deposit amount (minimum $5,000)
   • Investment term 
   • Interest frequency
   • Interest payment method. 
      
3. Nominated bank account details to be debited for the deposit:
   • BSB 
   • Account Number
   • The linked account name must be in the same name as the Term Deposit. If the direct debit fails, we’ll contact you. If we don’t hear back from you within 5 business days, we’ll cancel your application and you’ll need to reapply. 
      
4. Additional details:
   • How the account will mainly be funded 
   • What the account will be mainly used for
   • Mailing address. 

Ready to open an account?

You can submit your application online. 

To apply for a solde trader Term Deposit, you’ll need to provide the following information to us:

1. Applicant details:
   • Full legal name (including any middle names) 
   • Any other name known by
   • Date of birth 
   • Mobile number
   • Email address 
   • Residential address
   • Occupation
   • Source of wealth
   • Tax File Number (TFN)
   • Details of any foreign tax residency, including a Tax Identification Number (TIN) if applicable
   • Identification information (Australian driver licence or Australian passport). If we can't electronically verify the trustee, we’ll require a certified copy of your ID. For more information, refer to our Term Deposit Application Guide
   • Name of business
   • ABN
   • Industry and nature of business activity.
     
     
2. Term Deposit details: 
   • Deposit amount (minimum $5,000)
   • Investment term 
   • Interest frequency
   • Interest payment method. 
      
3. Nominated bank account details to be debited for the deposit:
   • BSB 
   • Account Number
   • The linked account name must be in the same name as the Term Deposit. If the direct debit fails, we’ll contact you. If we don’t hear back from you within 5 business days, we’ll cancel your application and you’ll need to reapply. 
      
4. Additional details:
   • How the account will mainly be funded 
   • What the account will be mainly used for
   • Mailing address. 

Ready to open an account?

You can submit your application online.