Banksia Securities Limited
- How long has Banksia Securities Limited been in operation?
- How do I invest?
- Who can apply to invest?
- Is there a minimum opening balance?
- Are there any fees or charges?
- Is there a choice of terms available?
- How is interest paid?
- How is interest calculated?
- When is interest payable?
- Can I add to an existing investment?
- Is there a limit when adding to an investment?
- Can I have monies invested for my children?
- What do you do with the funds I invest?
- Is repayment of my investment secured?
- What happens when my fixed term investment reaches maturity?
- Am I able to withdraw funds before my term deposit matures?
1. How long has Banksia Securities Limited been in operation?
Banksia Securities Limited has provided financial services and has offered competitive returns to investors since 1968.
2. How do I invest?
Applications must be made on an Application Form accompanying a current prospectus and any Supplementary Prospectus and returned along with the investment monies to one of our business offices by post or in person.
3. Who can apply to invest?
Investments can be opened in single or joint names, or in the names of partnerships, trusts, companies or other incorporated bodies.
4. Is there a minimum opening balance?
This depends on the type of investment you have with us. Banksia Securities Limited accepts an initial investment of $500.00 for fixed term investments. "At Call" accounts require a minimum investment of $10.00.
5. Are there any fees or charges?
Banksia Securities Limited does not charge fees or charges on your investment.
6. Is there a choice of terms available?
You are able to invest with us on an "At Call" basis or for fixed terms ranging from three months to two years. Details are contained in Banksia's product information.
7. How is interest paid?
Interest on "At Call" accounts may be credited to the account or forwarded by cheque. Interest on fixed term investments may be re-invested, credited to an "At Call" account with Banksia Securities. Interest is automatically re-invested if no election is made.
8. How is interest calculated?
Interest is calculated on the investment balance on a daily basis from the date of receipt of your application monies.
9. When is interest payable?
Interest is payable on "At Call" accounts on the last day of March and September in each year. Interest on fixed term investments is payable quarterly, however if requested interest may be paid on maturity of the investment.
10. Can I add to an existing investment?
You may add to an At Call account at any time, or to a term account at maturity. Banksia Securities Limited may accept a request to increase a term account balance mid term at its discretion. If accepted, the interest rate for the additional investment will be the same as the interest rate for the original investment.
11. Is there a limit when adding to an investment?
No. If accepted, any amounts may be added to the principal balance of your investment.
12. Can I have monies invested for my children?
Yes, monies may be invested in the name of a child or grandchild.
13. What do you do with the funds I invest?
Banksia Securities Limited predominantly invests funds raised in registered mortgage securities. The balance of funds is invested in Australian banks and other investments as permitted by the Trust Deed.
14. Is repayment of my investment secured?
Repayment of all monies that have been or may be deposited with Banksia Securities Limited for investment in debentures is secured by a charge over the whole of the assets and undertaking of the company in favour of Permanent Nominees (Aust.) Limited as Trustee for the holders of debentures.
15. What happens when my fixed term investment reaches maturity?
Banksia Securities Limited will notify you in writing 14 days prior to maturity and offer you the opportunity to reinvest for a further term.
16. Am I able to withdraw funds before my term deposit matures?
Banksia Securities Limited will give consideration to requests to withdraw the whole or part of a fixed term investment before maturity where unforseen and exceptional circumstances occur. Early withdrawal may result in an adjustment to the interest accrued or paid since lodgement or last renewal.