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dafman:

 

msukiwi:

 

 

 

Term Deposits require a 31 day break delay (Notice).

 

 

 

Bonus Bonds do not.

 

 

 

 

 

 

No. You can typically break term deposits early if required, but may lose some of your interest in doing so.

 

 

 

You should talk to your bank. Even the reduced interest in the unlikely event of terminating a term deposit early may be more than what you have historically received from bonus bonds.

 

All the big four banks require 31 days notice since late 2014. This is to comply with Australian regulations.

The non-Australian owned banks may have different policies.

The banks have discretion to wave the 31 days. This from ANZ:

You can request an early withdrawal from your term deposit if either:

- you give us 31 days' notice, or

- You're suffering from hardship, as reasonably determined by us.

 If you needed to withdraw early for a medical emergency, the example given earlier in the thread, it would likely fall within the reasonable determination for waving the 31 days.