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Term Deposits

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Earn great returns with an IMB Term Deposit. An IMB Term Deposit offers competitive returns for investment terms from 1 month up to 5 years for amounts of $1,000 or more. Term Deposits are a secure way to grow your savings for the future!

  • Competitive interest rate fixed for the full investment term.
  • Option for regular interest payments.
  • Negotiable interest rates available for investment amounts over $100,000 (IMB’s NITA product).
  • Regular statements to keep you up to date on your account.

Click here to view IMBs latest Term Deposit Interest Rates.

Investment

You may invest in an IMB Term Deposit with as little as $1,000. Negotiable Interest Term Accounts are available for deposits over $100,000.

Interest

Interest is paid 6 monthly and on maturity for terms of 6 months to 5 years. Alternatively you may invest your money for terms of 1 to 12 months and we will pay you interest when your term deposit matures. The interest on your term deposit may be added to your investment, paid into your IMB transaction and savings account or a cheque will be posted to you depending on the initial terms of your investment.

Fortnightly and Monthly Money Plans

These term deposits are designed for our investors who require a regular income. The minimum investment is $2,000 for an IMB fortnightly money plan, and $5,000 for an IMB monthly money plan. Our IMB fortnightly money plan is fixed for 12 months and your interest will be paid every 14 days. If you choose our IMB monthly money plan, interest is paid every 28 days for terms of 3 months to 5 years.

Maturity

IMB will advise you by mail approximately one week prior to your investment maturing. For most of IMB’s term investment products, you may renew your term deposit for a further term of your choice or withdraw your deposit within 7 days of maturity. For NITA products, you may only withdraw your deposit on the day of maturity. Otherwise, your term deposit will automatically be reinvested for the same term as the maturing deposit and at the standard interest rate applicable to that term on the day the investment matures. If you wish to take advantage of any special rates that IMB may have on offer, you must ensure that you provide IMB these instructions prior to maturity, to avoid your deposit being re-invested at the standard rate.

Breakouts

Although your investment is for a fixed term we understand that sometimes emergencies do arise. Withdrawals may be allowed by IMB but amounts withdrawn before maturity may incur an interest rate reduction of up to 3% p.a for up to 12 months.

Regular Money Plans

  • Interest may be paid by cheque, direct credit or transferred to your IMB transaction or savings account.
  • No additional deposit or interest may be added to the amount except on maturity.

Fortnightly money plan

  • The minimum investment is $2000.
  • Interest is paid every 14 days starting 14 days after lodgement.
  • The only available term is 12 months.

Monthly money plan

  • The minimum investment is $5000.
  • Interest is paid every 28 days starting 28 days after lodgement.

General Conditions

  • No additional deposit may be added to the account except on maturity.
  • The interest rate is fixed for the term of the investment.
  • Pre-payment of your deposit (ie. withdrawal in part or in full prior to maturity), may be allowed by IMB. However, amounts withdrawn before maturity may incur an interest rate reduction of up to 3%p.a. for up to 12 months.
  • For most of IMB’s term investment products, within seven days after maturity you may withdraw your deposit or change the terms of your investment. For NITA products, you may only withdraw your deposit on the day of maturity.
  • If upon maturity of your term deposit, you do not provide contrary instructions, your investment will be reinvested at the standard interest rate, which may be higher or lower than your current rate, and this will constitute a new facility.  If you wish to take advantage of any special rates that IMB may have on offer, you must ensure that you provide IMB these instructions prior to maturity, to avoid your deposit being re-invested at the standard rate.

Call 133 462 Visit a branch Ask us a question Apply online+

+If you would like to open your Term Deposit online the minimum investment amount is $5000 and not all investment terms are available. You must also hold (or open) a separate transaction or savings account with IMB. This advice is general advice only and does not take into account your objectives, financial situation or needs. You should consider the Product Disclosure Statement available from IMB before making a decision about this product.

 

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