Do I have to be a Reliance member to open a fixed term deposit?

Reliance is a mutual financial services organisation and as such is owned by its members, each one of whom is a shareholder. Therefore we require that you must be a member of Reliance to open an investment account. Learn about the benefits of being a member. ^

What is the minimum amount to open an investment account?

You can open an investment account with a minimum of $1,000 or $500 for our young starter term deposits. ^

How do I make withdrawals from my account?

Your funds are available at the end of your chosen term. At the end of your chosen term you can prearrange to either reinvest your funds into another investment, or transfer the funds to an existing Reliance account so your money can be accessed. ^

What happens at maturity?

At maturity you can:

  • Automatically re-invest your funds for another term;
  • Add extra funds;
  • Transfer all or part of the funds to an existing account within Reliance. ^

How often will I receive information on my account?

Statements are issued monthly or every three months as required. Duplicate statements can be requested at any time from our office. Account Balances and Statements are also available through our Internet and Phone Banking services. ^

What if I want to invest longer than 36 months?

If you are in a position to invest for longer than 36 months, or you would like to find out your other options for investing, you may wish to consider alternative or complementary investments that offer additional advantages. At Reliance we offer a financial planning service through our partnership with local Financial Planners. They have friendly financial planners who would be happy to discuss your long term options with you. Please contact us to arrange for a free, no obligation initial consultation at your convenience. ^

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Questions?

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