Managing your ASB term deposit or ASB Term Fund is now easier than ever, and you can do it all online.
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You can now update your reinvestment instructions online. In the five days leading to your term investment maturing, you can lock in a new rate and term.
Or you can wait until it's automatically reinvested, and then change your term within five days. You'll find the option next to your term deposit balance.
For terms less than 30 days, you can only choose your terms on the day of maturity.
Rate promise is perfect when you know exactly what you want to do with your term investment when it matures. You can choose your new term and rate in the five days before your investment matures, then we take care of the rest.
What's more, if our publicly advertised rates go up after you lock in your new term and rate, we promise you'll get the higher rate on your maturity date.
If the rate goes down, you'll still get the higher rate you chose. That's our rate promise, only available online, exclusively from ASB.
How to use our rate promise
Login to FastNet Classic or the ASB Mobile app in the five days before your term investment matures.
Choose your new term and rate, and how you want your interest or returns paid.
Lock in your new term and rate and we’ll take care of the rest.
Once you lock in your new terms with rate promise, closing your term investment or making other changes requires 31 days' notice.
If you want to add funds to your term investment, it's best to wait until your investment matures - as you can't add funds using rate promise, but can during the change window.
If your term investment is set to reinvest, you have a five day window to make changes - this begins on the day your investment matures. You can choose a new term and rate, add more funds, or change your payment frequency. You can only make changes if you haven't already locked in a new term and rate using rate promise.
You can still make changes to a term investment with a term less than 30 days, but only on the day of maturity.
How to change your reinvestment instructions
Login to FastNet Classic or the or the ASB Mobile app when your original term investment matures.
Choose a new term and rate, add new funds, and decide how you want your interest or returns paid.
Once you confirm your new instructions, we apply these from your original reinvestment date.
If you have a term investment less than 30 days, you can only makes changes on the day your investment matures.
ASB's terms apply. Rates not available to financial institutions. Maximum amount across all term deposits held either solely or jointly with any person is $10 million. ASB Cash Fund and ASB Term Fund Terms and Conditions apply. Units in the ASB Term Fund are issued by ASB Group Investments Limited, a wholly owned subsidiary of ASB Bank Limited. Investments in the ASB Term Fund are not deposits with ASB Bank Limited. The rate of return is before tax and any fees. Rates of return may change. A minimum investment of $5,000 is required. ASB Bank Limited guarantees account balances and returns due but not paid (less fees and any PIE tax). The guarantee is unsecured. Maximum amount across all Term Fund accounts held either solely or jointly with any person is $10 million.
