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For Depositors

At-Call Deposits

Foodstuffs South Island Limited accepts At-Call Deposits from its trading members and associated people. This money is deposited with us in interest bearing accounts and is always available at-call. These deposits are used across the co-operative to supplement long-term funding provided by our members or other third parties (e.g. trading banks) for working capital and infrastructure assets investment.

The deposits are issued under a registered Product Disclosure Statement or "PDS" (latest registered PDS date 10 November 2016). This sets out in detail the relevant terms and conditions. The PDS also set out the process on how to register a complaint you may have with either the offer or the investment of at-call deposits.

For a copy of the PDS and the application form for At-Call Deposits go to the New Zealand Companies Office.Disclosure Register.

Please note: While FSSI may take deposits from members of the public, it is our policy to generally only open new accounts for members, staff or other third parties who have a close association with FSSI or its members. We do not, as a rule, take deposits from the general public.

Withdrawing your At-Call deposit

There is no minimum or maximum term for deposits, however they may not be redeemed sooner than 24 hours after acceptance of the deposit. Requests for withdrawal received by 2pm will normally be accepted and processed the same day.

Interest rate on At-Call Deposits

The At-Call Deposits are interest bearing, with interest calculated daily and paid annually in arrears at the end of February each year. 

  • The current interest rate for depositors is now 2.05% reduced from 2.55%. 
  • Special interest rate for Members, Shareholders and Staff is now 2.20% reduced from 2.70%. 

These new rates are effective from 19 August 2019. The drop of 0.50% follows the Reserve Bank's annoucement on 7 August of a new low OCR of 1%.

If you have any queries regarding the above, please contact

Foodstuffs Securities
Freephone: 0800 688 887

 

 

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