|
|
| Term Deposit |
 |
 |
|
|
|
|
| Update on the Australian Government Deposit Guarantee |
|
|
On September 10 2011 the Federal Government announced changes to the Government Guarantee Scheme introduced in October 2008.
Effective 1 February 2012, the existing Government Guarantee will be changing from $1,000,000 to a permanent cap of $250,000 per customer per institution.
Deposits held in foreign branches of Australian banks will not be covered by this scheme. The guarantee for existing AUD deposit however will be extended to 31 January 2012. For all other deposits of foreign currencies in foreign branches, the guarantee will finish on 12 October 2011. |
|
|
|
|
|
