Additional deposits can be made to an existing deposit, by the quarterly sweep from the Long Service and Sick Leave Provisions Account or if received within five business days from maturity. Withdrawals are restricted to payments of long service and sick leave owing to staff. Interest is credited to the account on 30 June and 31 December of each year and on maturity on 1 September of each year. Bonus interest additional to the base rate is earned when deposits totalling a minimum of $100 and no withdrawals are made in the calendar month. These rates are for retail customers only and limits may apply. Interest on I41 and I43 calculated daily and credited on maturity. At the end of each quarter, the balance of the S47 will be transferred into the Preschool Long Service and Sick Leave Term Deposit (I40). Part withdrawals are not permitted on the Interest First Term Deposit product. Where the withdrawal reduces the 'Fixed Term Deposit' balance to an amount that attracts a lesser rate, that lesser rate shall apply for the remainder of the term. Subject to our Terms and Conditions, a Term Deposit interest rate reduction applies on early withdrawals, with interest paid at the reduced rate from the date of deposit to the day prior to withdrawal. Bonus interest additional to the base rate applies when you make at least one deposit of a minimum of $1.00 and no withdrawals are made in the calendar month.
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