Proactively renew it for another term of one month or more.Place your funds in the holding facility to give you more time to decide what to do.When your Term Deposit matures with CommBank you can choose to: The risk with this approach is that it may be reinvested for a term that doesn’t suit you, or at a rate that isn’t giving you the best return. Not keeping an eye on the maturity date could mean, at some banks, the Term Deposit funds will be automatically renewed for the same fixed term as before, at the interest rate that applies on that day, or funds could be placed in the holding facility at maturity. You generally get a week’s notice before your Term Deposit matures, but it depends on who you are invested with – so make a point of checking your maturity date.
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