InvestNow Term Deposit Distribution Fee

InvestNow earns a distribution fee of 0.10% for the Term Deposit (TD) service.  This fee does not result in any additional fees for you, or reduction in the interest rate you receive, for the Term Deposit(s) you invest in.

The rate you receive for the TD you invest in is the rate you see when you select the bank/term.  In addition to the rate you receive, InvestNow will be earning a 0.10% distribution fee.

An example:

• A customer invests in the 3m TD from bank “X” and receives gross interest of 5.00% pa.
• At maturity the customer receives 5.00% pa interest, less their personal RWT rate.
  • In their Transaction Summary and Investor Report, the following entries will be visible:
    • The 5.10% pa interest paid by Bank “X” to Adminis, our custodian (this is the sum of the 5.00% the customer receives and the 0.10% InvestNow receives)
    • The 0.10% distribution fee earned by InvestNow
    • The 5.00% pa gross interest received by the customer
    • The RWT paid on the customer’s behalf