General questions
You can add money to your Term Deposit on the day you open the account, or when it matures if you choose to roll over your investment.
You can manage your maturity instructions, including adding new funds to the account in internet banking or the mobile app.
If you already have a transaction or savings account with us you can log in to internet banking or the mobile app and open up a Money Maker Term Deposit account online in a matter of minutes.
To open a Regular Income Term Deposit, you can contact us via secure mail, call 13 25 77 or visit your nearest branch.
New customer?
If you’re new to P&N, you can easily open a transaction or savings account online to receive your funds, which is quick and easy. Once your funds have landed in your account, you can open a term deposit using internet banking or the mobile app.
You can close your term deposit account early at any time, but doing so will likely affect the amount of interest you receive.
Further information is available in our Term Deposit Account Terms & Conditions.
At the time of opening your term deposit account, you set instructions for what you want us to do with your deposit and interest when it matures.
When your term deposit is due to mature you can explore your options to:
- add some funds to your term deposit,
- transfer funds to another nominated account,
- renew your term deposit for a new term,
- change your interest payment instructions, or
- a combination of these options.
You can also choose to leave your money - and the interest you've earned - in the same term deposit (it’s what we call a rollover).
Your instructions can be provided any time up to your term deposit maturity date, or within the seven-day grace period following the account maturity.
View the Term Deposit Account Terms & Conditions for more information about rollovers.
Savings accounts offer you the freedom to add to your savings when it suits you and access your money when you need it.
Interest rates on savings accounts are variable and can change at any time and some accounts will pay bonus interest too.
On the flip side, a term deposit offers you a fixed rate of interest for a set period of time (the term) - a sure-fire way to watch your savings grow! You usually can't add further money to the account during the term and by locking your money away you'll know exactly how much you'll have at the end of your term.