Why do I need to give 31 days’ notice to break a term deposit?

Last Updated: 15 Oct 2015

A 31 day notice period is required to comply with a regulatory standard which affects Australian owned banks. ANZ, BNZ and Westpac all have a notice period for term deposit early withdrawals. The 31 day notice period can be waived where you are experiencing hardship or exceptional circumstances (as reasonably determined by us).

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