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Important information about your Alex Bank Term Deposit

Last updated 17 January, 2023

Issuer

Alex Bank Pty Ltd ABN 13 627 244 848, Australian Financial Services Licence and Australian Credit Licence 510805 (Alex, We, Us or Our).

31 day notice period

You must give Alex 31 days' notice if you would like to withdraw your money before the maturity date. We have the discretion to delay the withdrawal or transfer until the end of the 31 day notice period (but not beyond the maturity date) and an interest adjustment may apply.

The notice period doesn’t apply to Alex Term Deposit customers in hardship.

Requests to break a Term Deposit immediately due to hardship are assessed by Alex on a case-by-case basis. We may ask you to provide documentation to support your request for hardship.

Consider if an Alex Term Deposit is suitable for you

If you may have a need in the future to access funds in your Alex Term Deposit before the maturity date, another deposit product may be more suitable to your needs.

If you choose to re-invest, the new Alex Term Deposit may have a lower interest rate

Interest rates apply to a single term. If you give consent for your Term Deposit to be reinvested on the maturity date, the new Alex Term Deposit may have a lower interest rate.