Closing your Term Deposit before maturity

If you wish to withdraw funds from your Term Deposit prior to maturity, you must provide us with at least 31 days’ notice and a break fee may apply. If you have less than 31 days remaining of your term, the earliest you can access your funds is at maturity.

We may waive the notice period and/or break fee if you are experiencing hardship.

For more information about accessing your funds before maturity, please contact your financial adviser, or get in touch with a Macquarie consultant using live chat.

If you close your Term Deposit before the Maturity Date, we may apply a break fee.

The break fee equals 25% of interest accrued on your Term Deposit as at the date of closure and will be deducted from the total interest payable to you. Where the amount of the break fee exceeds the amount of interest payable on your Term Deposit, we may recover the break fee by deducting the amount from the principal balance of your Term Deposit.

You can get an estimated break fee by contacting us using live chat.

A notice to close your Term Deposit before maturity must be lodged before 2:30pm (Sydney time) to be processed on the same business day.

If you’ve requested to close your account and withdraw funds prior to maturity, you can amend or cancel this request up until 2:30pm (Sydney time) on the business day before the day your funds are due to be disbursed. 

Any requests which are unclear, incomplete or require additional information may not be processed on the same day. So please ensure all information is correct and up to date (including the details of your nominated bank account).