How does ASB calculate my term deposit break rate?
If you're able to make an early withdrawal we apply a reduced rate of interest to the amount that is withdrawn early.
The reduced rate of interest will be the reference rate less 2% per annum. The reference rate is the standard interest rate for term deposits offered to the public by us on the date you made your term deposit:
(a) for an amount equal to the amount of your term deposit;
(b) for the period from the date you made your term deposit to the date of early withdrawal (the completed term).
If you have reinvested your term deposit at any time, the date you made your term deposit is the date of reinvestment.
For more information see our personal banking terms and conditions.