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The monthly income option for term deposits gives you a regular income every month, allowing you to enjoy the benefits of your term deposit investment almost immediately. |
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interest paid monthly—providing a reliable income for the term of your investment |
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choice of investment terms from six months up to maximum term of 5 years |
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competitive tiered interest rates. |
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| You'll need a minimum deposit of $5000. |
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fixed interest rate from the start of the investment |
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interest is paid every month to another Westpac bank account or ay other New Zealand bank account, free of charge |
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interest rates for amounts of $250,000 or more are available on request |
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there are no transaction or account maintenance costs for a monthly income option. |
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| We recommend the monthly income option for people who |
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want their money to give them benefits today, and not tomorrow |
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want to keep it that way for a few years yet. |
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| You’ll get a certificate as a record of your investment |
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this will detail your interest payment and reinvestment or repayment instructions |
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you can also view this investment information in Online Banking. |
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| For longer term investments |
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we’ll send you regular advice notices and a reminder when your investment is due to end |
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your investment (plus interest) can be automatically reinvested for the same or another term |
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you can also have your investment paid into any New Zealand bank account you choose when it matures. |
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| In emergencies or other special circumstances |
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you can request to withdraw part or all of your monthly income option term deposit before the term ends |
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you’ll need to talk to your branch about making the withdrawal |
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if you take money out early, your initial interest rate will reduce for the amount you withdraw (and any amount still invested) |
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Westpac will determine the reduced interest rate. |
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monthly income investment rates |
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