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TermPlus is not a bank term deposit.

A bank term deposit offers lower return on cash savings (fixed at the time of opening your account), in exchange for a guarantee on deposits that is limited to $250,000.

TermPlus offers higher income Target Rates, paid monthly, and linked to the RBA cash rate (so your money keeps up with inflation), with built-in layers of protection via our Priority Income promise (to give you confidence in your income targets), and Savings Support of up to 10% per annum to protect your earnings and your account balance.

All investments carry some form of risk, and whilst TermPlus has been built to minimise the risk-return ratio. In the unlikely event that the value of your Term Account balance was to decrease during the course of your term, any excess TermPlus Return in following months (after paying that month’s full Target Rate Income) is further allocated equally across all accounts until the value of each Term Account is back to its total Invested Amount.

At the end of your Term, if the Closing Balance of your Term Account, plus any income that has been paid to you, is still lower than your Invested Amount, we have gone one step further by building in an additional layer of support that will top up any unforeseen drawdown on the value of your balance by up to 15% over the life of your term.

Read about our support mechanisms HERE.

You have two choices on how to receive your monthly Income.

1. 1. Add it back into your account balance to earn additional income. Reinvested Income will receive the same Target Rate, Maturity Date and Protections as your Opening Balance.
   2. We pay it to your linked bank account every month
      Simply make your election in your account dashboard.

You can change your election at any time during the course of the month. Just make sure you make your final choice at least 5 days before your next income payment, otherwise it will apply to the one after that.

Your income comes first. We aim to provide TermPlus Account Holders with a significant level of confidence in our account features and the level of reliability account holders can expect for TermPlus to deliver on income targets. To do this, TermPlus co-invests its own money alongside you, in what we call a Support Account.

The Support Account provides two layers of Income Support that underpin our target rates.

1. Priority Income
Our co-investment in the Support Account cedes all income rights to Term Account holders who must first receive their full Target Rate, before the Support Account is entitled to any of its income. Think of it as an extra pool that works to maintain target rates for your Term Account in the unlikely event of an income shortfall for a given month. This customer-first approach aims to deliver stability and reliability of income flows for our Account Holders.

2. Income Stabilisation
In the unlikely event that the value of your Term Account balance decreases for any given month throughout the course of your term, we continue to calculate your Target Rate Income on the total Invested Amount (including any reinvestments of past income).

No sign-up fees. No account fees. No withdrawal fees.

TermPlus charges no investment, transaction, or account fees to account holders.

The underlying master portfolio of global investments that is used to fund the Target Return paid to TermPlus accounts pays fees to underlying fund managers. In the unlikely event of significant Master portfolio underperformance, these fees may indirectly affect the return of TermPlus accounts. For detailed information, please refer to the Product Disclosure Statement, specifically the “fees and charges” section.

Easy. Quick. Seamless. Your TermPlus Account has its own easy-to-use account dashboard from where you can manage and track your applications, get an overview of your accounts, track your earnings and access tax statements etc.

Your income payments are based on the starting balance of your Account. Tou have the option of adding any Account income payments to your Account Balance which means that they will accrue additional income in following months. If you would like to add funds to earn income, this can be done by opening another Term Account using the add account button on your dashboard. As this is a ‘term based’ account, funds cannot be withdrawn until the term is over.

At the end of your term you have 2 choices.

1. Rollover into a new term
2. Withdraw your balance to be paid back into your bank account, this would include any income reinvested through the course of your term account.

You also have the option to do a partial withdrawal and partial rollover.

End of term elections need to be made by the due date that is noted on your account in the customer dashboard.

The TermPlus Target Market Determinations note an indicative risk level of Low to Medium (that is, over any 20 year period, we consider that TermPlus is likely to experience between 1 and less than 2 years of negative annual returns).  Private credit (the underlying asset that powers TermPlus Accounts) benefits from lender protections, such as contractual limitations and covenants on the borrower, payment priority to the lender, and valuation methodologies that can look through shorter term market volatility.  These enhanced protections have historically resulted in lower default rates and higher recovery rates for private credit assets.

In addition, TermPlus Accounts benefit from 3 additional built-in layers of protection features.

A complete summary of all possible risks, and protection mechanisms, are available in the TermPlus PDS.