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Protect your Principal
A structured deposit provides the opportunity to earn a higher interest rate than you would receive from a standard term deposit. At the same time, your principal amount is protected in the same way as a standard term deposit.
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 (Click to download our application forms)
You can also email us or contact our Relationship Managers for more details.
What are Currency Linked Structured Deposits (CLSD)?
A CLSD is a structured deposit that links your interest rate to movements of the foreign exchange (FX)^ rate between two currencies. A CLSD provides you with a known minimum interest rate and your capital is protected, which means that at maturity, you will receive no less than the capital you invested plus the minimum interest.
What CLSDs are offered by National Australia Bank?
. Currency Range Deposits
. Currency Bull Deposits
. Currency Bear Deposits
What currencies can be used?
Investments can be made in Singapore Dollar (SGD), Australian Dollars (AUD), United States Dollars (USD), New Zealand Dollar (NZD), Pound Sterling (GBP), Euros (EUR). A complete list of accepted currencies is available from your Relationship Manager.
What is the minimum transaction amount?
For SGD the minimum transaction amount must not be less than SGD250,000. For any other currency, the minimum transaction amount must not be less than the equivalent of USD50,000.
What terms are available?
Terms can vary from 1 week to 1 year.
When is interest paid?
Interest is only paid on the Maturity Date.
Can CLSD be withdrawn before the Maturity Date?
The principal amount is only repaid in full if you hold the CLSD to the Maturity Date*.
View the Terms and Conditions with risk disclosure statement for Currency Linked Structured Deposit
^FX rate mentioned in this webpage refers to Spot Exchange Rate which is defined in Currency Linked Structured Deposit Terms and Conditions. *You are not permitted to withdraw the CLSD (or any part of it) prior to maturity. However, the Bank may, in its absolute discretion, permit you to terminate the CLSD before the Maturity Date, subject to costs related to the termination of the CLSD being deducted from the principal amount. These costs may be considerable. Further details are available upon request.
Important notice: Investment involves risk. Unlike traditional deposits, CLSDs have an investment element and returns may vary. Before entering into a CLSD with us, you should (i) consult your own advisers on the legal, regulatory, tax, business, investment, financial and accounting implications of the CLSD; (ii) carefully consider whether the CLSD is appropriate for you in light of your investment objectives, experience, financial and operational resources, and other relevant circumstances; (iii) understand the nature of the CLSD and the related contract (and contractual relationship) including, without limitation, the nature and extent of your exposure to risk; and (iv) understand any regulatory requirements and restrictions applicable to you. In the event that you choose not to seek advice from a licensed or an exempt financial adviser, you should carefully consider whether the CLSD is suitable for you.
The Minimum Interest Rate is always significantly below comparable NAB term deposit rates. A CLSD is not the same as, and should not be treated as a substitute for, a traditional term deposit. The returns from the CLSD will depend upon a number of market factors prevailing during the Deposit Period of the CLSD. The value of the Deposit Currency and Exchange Currency may go up or down and this will affect the return on the CLSD. If foreign exchange rates do not move in your favour and you receive the Minimum Interest Rate under a CLSD, the return on the Deposit Amount will be significantly less than that payable on a normal term deposit. You must be prepared to risk the interest that you might otherwise have earned on money placed as a traditional term deposit.
Range Deposits may increase your financial exposure to adverse currency movements. You may suffer loss from an adverse currency movement on an unhedged currency and also suffer the loss from only receiving the Minimum Interest Rate. The Maximum Interest Rate remains fixed until the Maturity Date. This will be the case even if market interest rates for similar deposit terms increase during the term of the CLSD.
There is no guarantee a Trigger Event will or will not occur. Historical volatility may not be a good predictor of future volatility. A CLSD cannot be withdrawn, either in full or in part, prior to its Maturity Date. If the Deposit is set to mature against the date of a known liability, you may not be able to meet that liability in a timely fashion if the date the liability is due to be paid changes after the Maturity Date of the Deposit is agreed. If you choose to withdraw a CLSD before the Maturity Date, the CLSD will not be repayable in full and this may result in considerable losses to you. A CLSD should only be entered into if its use is consistent with your risk management strategy and financial circumstances. You should refer to the relevant Terms and Conditions, fact sheets and other supporting documents for details of a particular CLSD. A CLSD is not transferable nor negotiable. A CLSD is not an insured deposit for the purposes of the Deposit Insurance Act (Chapter 77A).
National Australia Bank Limited, Singapore. Reg. No. F02979K.
National Australia Bank Limited ABN 12 004 044 937 is incorporated in Australia
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