Term Deposits

Which option is best for your spare cash? We compare term deposits from over 40 different providers below.

Last Updated Wednesday, September 22, 2021 - 8:25pm
Filter
General Finance
Product name Rate Minimum deposit Maximum deposit
4 years 4.35% $2 000 $3 000 000
54 months 4.35% $2 000 $3 000 000
42 months 4.35% $2 000 $3 000 000
30 monnths 4.35% $2 000 $3 000 000
2 years 4.25% $2 000 $3 000 000
18 Months 4.20% $2 000 $3 000 000
3 years 4.35% $2 000 $3 000 000
9 months 3.40% $2 000 $3 000 000
5 years 4.35% $2 000 $3 000 000
6 months 2.95% $2 000 $3 000 000
15 months 4.15% $2 000 $3 000 000
12 months 3.65% $2 000 $3 000 000
51157
15 months
Minimum Deposit

$2,000

Maximum Deposit

$3,000,000

Rate (p.a.)

4.15% -

Interest info: Interest paid or compounded quarterly. For deposits in excess of $25,000, interest can be paid monthly.

    General Finance
    Product name Rate Minimum deposit Maximum deposit
    4 years 4.35% $2 000 $3 000 000
    54 months 4.35% $2 000 $3 000 000
    42 months 4.35% $2 000 $3 000 000
    30 monnths 4.35% $2 000 $3 000 000
    2 years 4.25% $2 000 $3 000 000
    18 Months 4.20% $2 000 $3 000 000
    3 years 4.35% $2 000 $3 000 000
    9 months 3.40% $2 000 $3 000 000
    5 years 4.35% $2 000 $3 000 000
    6 months 2.95% $2 000 $3 000 000
    15 months 4.15% $2 000 $3 000 000
    12 months 3.65% $2 000 $3 000 000
    51158
    12 months
    Minimum Deposit

    $2,000

    Maximum Deposit

    $3,000,000

    Rate (p.a.)

    3.65% -

    Interest info: Interest paid or compounded quarterly. For deposits in excess of $25,000, interest can be paid monthly.

      Asset Finance
      Product name Rate Minimum deposit Maximum deposit
      4 Years 4.75% $2 500 -
      2 Years 4.25% $2 500 -
      18 Months 3.95% $2 500 -
      3 Years 4.50% $2 500 -
      9 Months 2.95% $2 500 -
      5 Years 5.00% $2 500 -
      12 Months 3.60% $2 500 -
      51159
      12 Months
      Minimum Deposit

      $2,500

      Maximum Deposit

      -

      Rate (p.a.)

      3.60% -

      Interest info: Interest (less withholding tax) can be paid into your bank account either monthly or quarterly, or you can grow your investment by having interest reinvest/compound at the end of each quarter.

        Rabobank New Zealand
        Product name Rate Minimum deposit Maximum deposit
        1 month Standard interest 0.20% $1 000 $5 000 000
        6 months Standard interest 1.35% $1 000 $5 000 000
        5 years Standard interest 2.25% $1 000 $5 000 000
        5 years Interim interest Six-monthly 2.24% $1 000 $5 000 000
        5 years Interim interest Quarterly 2.23% $1 000 $5 000 000
        5 years Interim interest Monthly 2.23% $1 000 $5 000 000
        4 years Interim interest Six-monthly 2.14% $1 000 $5 000 000
        4 years Interim interest Quarterly 2.13% $1 000 $5 000 000
        3 months Standard interest 0.40% $1 000 $5 000 000
        2 years Interim interest Quarterly 1.69% $1 000 $5 000 000
        2 years Interim interest Monthly 1.69% $1 000 $5 000 000
        2 years Standard interest 1.70% $1 000 $5 000 000
        2 years Interim interest Six-monthly 1.69% $1 000 $5 000 000
        18 months Standard interest 1.55% $1 000 $5 000 000
        18 months Interim interest Six-monthly 1.54% $1 000 $5 000 000
        18 months Interim interest Quarterly 1.54% $1 000 $5 000 000
        18 months Interim interest Monthly 1.54% $1 000 $5 000 000
        15 months Standard interest 1.55% $1 000 $5 000 000
        15 months Interim interest Quarterly 1.54% $1 000 $5 000 000
        15 months Interim interest Monthly 1.54% $1 000 $5 000 000
        4 years Standard interest 2.15% $1 000 $5 000 000
        4 years Interim interest Monthly 2.13% $1 000 $5 000 000
        9 months Standard interest 1.25% $1 000 $5 000 000
        3 years Interim interest Quarterly 1.89% $1 000 $5 000 000
        3 years Interim interest Monthly 1.88% $1 000 $5 000 000
        1 year Interim interest Six-monthly 1.54% $1 000 $5 000 000
        3 years Interim interest Six-monthly 1.89% $1 000 $5 000 000
        3 years Standard interest 1.90% $1 000 $5 000 000
        1 year Standard interest 1.55% $1 000 $5 000 000
        1 year Interim interest Quarterly 1.54% $1 000 $5 000 000
        1 year Interim interest Monthly 1.54% $1 000 $5 000 000
        55373
        1 year Standard interest
        Minimum Deposit

        $1,000

        Maximum Deposit

        $5,000,000

        Rate (p.a.)

        1.55% -

        Interest info: Maturity

          Rabobank New Zealand
          Product name Rate Minimum deposit Maximum deposit
          1 month Standard interest 0.20% $1 000 $5 000 000
          6 months Standard interest 1.35% $1 000 $5 000 000
          5 years Standard interest 2.25% $1 000 $5 000 000
          5 years Interim interest Six-monthly 2.24% $1 000 $5 000 000
          5 years Interim interest Quarterly 2.23% $1 000 $5 000 000
          5 years Interim interest Monthly 2.23% $1 000 $5 000 000
          4 years Interim interest Six-monthly 2.14% $1 000 $5 000 000
          4 years Interim interest Quarterly 2.13% $1 000 $5 000 000
          3 months Standard interest 0.40% $1 000 $5 000 000
          2 years Interim interest Quarterly 1.69% $1 000 $5 000 000
          2 years Interim interest Monthly 1.69% $1 000 $5 000 000
          2 years Standard interest 1.70% $1 000 $5 000 000
          2 years Interim interest Six-monthly 1.69% $1 000 $5 000 000
          18 months Standard interest 1.55% $1 000 $5 000 000
          18 months Interim interest Six-monthly 1.54% $1 000 $5 000 000
          18 months Interim interest Quarterly 1.54% $1 000 $5 000 000
          18 months Interim interest Monthly 1.54% $1 000 $5 000 000
          15 months Standard interest 1.55% $1 000 $5 000 000
          15 months Interim interest Quarterly 1.54% $1 000 $5 000 000
          15 months Interim interest Monthly 1.54% $1 000 $5 000 000
          4 years Standard interest 2.15% $1 000 $5 000 000
          4 years Interim interest Monthly 2.13% $1 000 $5 000 000
          9 months Standard interest 1.25% $1 000 $5 000 000
          3 years Interim interest Quarterly 1.89% $1 000 $5 000 000
          3 years Interim interest Monthly 1.88% $1 000 $5 000 000
          1 year Interim interest Six-monthly 1.54% $1 000 $5 000 000
          3 years Interim interest Six-monthly 1.89% $1 000 $5 000 000
          3 years Standard interest 1.90% $1 000 $5 000 000
          1 year Standard interest 1.55% $1 000 $5 000 000
          1 year Interim interest Quarterly 1.54% $1 000 $5 000 000
          1 year Interim interest Monthly 1.54% $1 000 $5 000 000
          57462
          15 months Standard interest
          Minimum Deposit

          $1,000

          Maximum Deposit

          $5,000,000

          Rate (p.a.)

          1.55% -

          Interest info: Maturity

            Rabobank New Zealand
            Product name Rate Minimum deposit Maximum deposit
            1 month Standard interest 0.20% $1 000 $5 000 000
            6 months Standard interest 1.35% $1 000 $5 000 000
            5 years Standard interest 2.25% $1 000 $5 000 000
            5 years Interim interest Six-monthly 2.24% $1 000 $5 000 000
            5 years Interim interest Quarterly 2.23% $1 000 $5 000 000
            5 years Interim interest Monthly 2.23% $1 000 $5 000 000
            4 years Interim interest Six-monthly 2.14% $1 000 $5 000 000
            4 years Interim interest Quarterly 2.13% $1 000 $5 000 000
            3 months Standard interest 0.40% $1 000 $5 000 000
            2 years Interim interest Quarterly 1.69% $1 000 $5 000 000
            2 years Interim interest Monthly 1.69% $1 000 $5 000 000
            2 years Standard interest 1.70% $1 000 $5 000 000
            2 years Interim interest Six-monthly 1.69% $1 000 $5 000 000
            18 months Standard interest 1.55% $1 000 $5 000 000
            18 months Interim interest Six-monthly 1.54% $1 000 $5 000 000
            18 months Interim interest Quarterly 1.54% $1 000 $5 000 000
            18 months Interim interest Monthly 1.54% $1 000 $5 000 000
            15 months Standard interest 1.55% $1 000 $5 000 000
            15 months Interim interest Quarterly 1.54% $1 000 $5 000 000
            15 months Interim interest Monthly 1.54% $1 000 $5 000 000
            4 years Standard interest 2.15% $1 000 $5 000 000
            4 years Interim interest Monthly 2.13% $1 000 $5 000 000
            9 months Standard interest 1.25% $1 000 $5 000 000
            3 years Interim interest Quarterly 1.89% $1 000 $5 000 000
            3 years Interim interest Monthly 1.88% $1 000 $5 000 000
            1 year Interim interest Six-monthly 1.54% $1 000 $5 000 000
            3 years Interim interest Six-monthly 1.89% $1 000 $5 000 000
            3 years Standard interest 1.90% $1 000 $5 000 000
            1 year Standard interest 1.55% $1 000 $5 000 000
            1 year Interim interest Quarterly 1.54% $1 000 $5 000 000
            1 year Interim interest Monthly 1.54% $1 000 $5 000 000
            55714
            1 year Interim interest Six-monthly
            Minimum Deposit

            $1,000

            Maximum Deposit

            $5,000,000

            Rate (p.a.)

            1.54% -

            Interest info: Six-monthly

              Rabobank New Zealand
              Product name Rate Minimum deposit Maximum deposit
              1 month Standard interest 0.20% $1 000 $5 000 000
              6 months Standard interest 1.35% $1 000 $5 000 000
              5 years Standard interest 2.25% $1 000 $5 000 000
              5 years Interim interest Six-monthly 2.24% $1 000 $5 000 000
              5 years Interim interest Quarterly 2.23% $1 000 $5 000 000
              5 years Interim interest Monthly 2.23% $1 000 $5 000 000
              4 years Interim interest Six-monthly 2.14% $1 000 $5 000 000
              4 years Interim interest Quarterly 2.13% $1 000 $5 000 000
              3 months Standard interest 0.40% $1 000 $5 000 000
              2 years Interim interest Quarterly 1.69% $1 000 $5 000 000
              2 years Interim interest Monthly 1.69% $1 000 $5 000 000
              2 years Standard interest 1.70% $1 000 $5 000 000
              2 years Interim interest Six-monthly 1.69% $1 000 $5 000 000
              18 months Standard interest 1.55% $1 000 $5 000 000
              18 months Interim interest Six-monthly 1.54% $1 000 $5 000 000
              18 months Interim interest Quarterly 1.54% $1 000 $5 000 000
              18 months Interim interest Monthly 1.54% $1 000 $5 000 000
              15 months Standard interest 1.55% $1 000 $5 000 000
              15 months Interim interest Quarterly 1.54% $1 000 $5 000 000
              15 months Interim interest Monthly 1.54% $1 000 $5 000 000
              4 years Standard interest 2.15% $1 000 $5 000 000
              4 years Interim interest Monthly 2.13% $1 000 $5 000 000
              9 months Standard interest 1.25% $1 000 $5 000 000
              3 years Interim interest Quarterly 1.89% $1 000 $5 000 000
              3 years Interim interest Monthly 1.88% $1 000 $5 000 000
              1 year Interim interest Six-monthly 1.54% $1 000 $5 000 000
              3 years Interim interest Six-monthly 1.89% $1 000 $5 000 000
              3 years Standard interest 1.90% $1 000 $5 000 000
              1 year Standard interest 1.55% $1 000 $5 000 000
              1 year Interim interest Quarterly 1.54% $1 000 $5 000 000
              1 year Interim interest Monthly 1.54% $1 000 $5 000 000
              55376
              1 year Interim interest Quarterly
              Minimum Deposit

              $1,000

              Maximum Deposit

              $5,000,000

              Rate (p.a.)

              1.54% -

              Interest info: Quarterly

                Rabobank New Zealand
                Product name Rate Minimum deposit Maximum deposit
                1 month Standard interest 0.20% $1 000 $5 000 000
                6 months Standard interest 1.35% $1 000 $5 000 000
                5 years Standard interest 2.25% $1 000 $5 000 000
                5 years Interim interest Six-monthly 2.24% $1 000 $5 000 000
                5 years Interim interest Quarterly 2.23% $1 000 $5 000 000
                5 years Interim interest Monthly 2.23% $1 000 $5 000 000
                4 years Interim interest Six-monthly 2.14% $1 000 $5 000 000
                4 years Interim interest Quarterly 2.13% $1 000 $5 000 000
                3 months Standard interest 0.40% $1 000 $5 000 000
                2 years Interim interest Quarterly 1.69% $1 000 $5 000 000
                2 years Interim interest Monthly 1.69% $1 000 $5 000 000
                2 years Standard interest 1.70% $1 000 $5 000 000
                2 years Interim interest Six-monthly 1.69% $1 000 $5 000 000
                18 months Standard interest 1.55% $1 000 $5 000 000
                18 months Interim interest Six-monthly 1.54% $1 000 $5 000 000
                18 months Interim interest Quarterly 1.54% $1 000 $5 000 000
                18 months Interim interest Monthly 1.54% $1 000 $5 000 000
                15 months Standard interest 1.55% $1 000 $5 000 000
                15 months Interim interest Quarterly 1.54% $1 000 $5 000 000
                15 months Interim interest Monthly 1.54% $1 000 $5 000 000
                4 years Standard interest 2.15% $1 000 $5 000 000
                4 years Interim interest Monthly 2.13% $1 000 $5 000 000
                9 months Standard interest 1.25% $1 000 $5 000 000
                3 years Interim interest Quarterly 1.89% $1 000 $5 000 000
                3 years Interim interest Monthly 1.88% $1 000 $5 000 000
                1 year Interim interest Six-monthly 1.54% $1 000 $5 000 000
                3 years Interim interest Six-monthly 1.89% $1 000 $5 000 000
                3 years Standard interest 1.90% $1 000 $5 000 000
                1 year Standard interest 1.55% $1 000 $5 000 000
                1 year Interim interest Quarterly 1.54% $1 000 $5 000 000
                1 year Interim interest Monthly 1.54% $1 000 $5 000 000
                55377
                1 year Interim interest Monthly
                Minimum Deposit

                $1,000

                Maximum Deposit

                $5,000,000

                Rate (p.a.)

                1.54% -

                Interest info: Monthly

                  Rabobank New Zealand
                  Product name Rate Minimum deposit Maximum deposit
                  1 month Standard interest 0.20% $1 000 $5 000 000
                  6 months Standard interest 1.35% $1 000 $5 000 000
                  5 years Standard interest 2.25% $1 000 $5 000 000
                  5 years Interim interest Six-monthly 2.24% $1 000 $5 000 000
                  5 years Interim interest Quarterly 2.23% $1 000 $5 000 000
                  5 years Interim interest Monthly 2.23% $1 000 $5 000 000
                  4 years Interim interest Six-monthly 2.14% $1 000 $5 000 000
                  4 years Interim interest Quarterly 2.13% $1 000 $5 000 000
                  3 months Standard interest 0.40% $1 000 $5 000 000
                  2 years Interim interest Quarterly 1.69% $1 000 $5 000 000
                  2 years Interim interest Monthly 1.69% $1 000 $5 000 000
                  2 years Standard interest 1.70% $1 000 $5 000 000
                  2 years Interim interest Six-monthly 1.69% $1 000 $5 000 000
                  18 months Standard interest 1.55% $1 000 $5 000 000
                  18 months Interim interest Six-monthly 1.54% $1 000 $5 000 000
                  18 months Interim interest Quarterly 1.54% $1 000 $5 000 000
                  18 months Interim interest Monthly 1.54% $1 000 $5 000 000
                  15 months Standard interest 1.55% $1 000 $5 000 000
                  15 months Interim interest Quarterly 1.54% $1 000 $5 000 000
                  15 months Interim interest Monthly 1.54% $1 000 $5 000 000
                  4 years Standard interest 2.15% $1 000 $5 000 000
                  4 years Interim interest Monthly 2.13% $1 000 $5 000 000
                  9 months Standard interest 1.25% $1 000 $5 000 000
                  3 years Interim interest Quarterly 1.89% $1 000 $5 000 000
                  3 years Interim interest Monthly 1.88% $1 000 $5 000 000
                  1 year Interim interest Six-monthly 1.54% $1 000 $5 000 000
                  3 years Interim interest Six-monthly 1.89% $1 000 $5 000 000
                  3 years Standard interest 1.90% $1 000 $5 000 000
                  1 year Standard interest 1.55% $1 000 $5 000 000
                  1 year Interim interest Quarterly 1.54% $1 000 $5 000 000
                  1 year Interim interest Monthly 1.54% $1 000 $5 000 000
                  57463
                  15 months Interim interest Quarterly
                  Minimum Deposit

                  $1,000

                  Maximum Deposit

                  $5,000,000

                  Rate (p.a.)

                  1.54% -

                  Interest info: Quarterly

                    Rabobank New Zealand
                    Product name Rate Minimum deposit Maximum deposit
                    1 month Standard interest 0.20% $1 000 $5 000 000
                    6 months Standard interest 1.35% $1 000 $5 000 000
                    5 years Standard interest 2.25% $1 000 $5 000 000
                    5 years Interim interest Six-monthly 2.24% $1 000 $5 000 000
                    5 years Interim interest Quarterly 2.23% $1 000 $5 000 000
                    5 years Interim interest Monthly 2.23% $1 000 $5 000 000
                    4 years Interim interest Six-monthly 2.14% $1 000 $5 000 000
                    4 years Interim interest Quarterly 2.13% $1 000 $5 000 000
                    3 months Standard interest 0.40% $1 000 $5 000 000
                    2 years Interim interest Quarterly 1.69% $1 000 $5 000 000
                    2 years Interim interest Monthly 1.69% $1 000 $5 000 000
                    2 years Standard interest 1.70% $1 000 $5 000 000
                    2 years Interim interest Six-monthly 1.69% $1 000 $5 000 000
                    18 months Standard interest 1.55% $1 000 $5 000 000
                    18 months Interim interest Six-monthly 1.54% $1 000 $5 000 000
                    18 months Interim interest Quarterly 1.54% $1 000 $5 000 000
                    18 months Interim interest Monthly 1.54% $1 000 $5 000 000
                    15 months Standard interest 1.55% $1 000 $5 000 000
                    15 months Interim interest Quarterly 1.54% $1 000 $5 000 000
                    15 months Interim interest Monthly 1.54% $1 000 $5 000 000
                    4 years Standard interest 2.15% $1 000 $5 000 000
                    4 years Interim interest Monthly 2.13% $1 000 $5 000 000
                    9 months Standard interest 1.25% $1 000 $5 000 000
                    3 years Interim interest Quarterly 1.89% $1 000 $5 000 000
                    3 years Interim interest Monthly 1.88% $1 000 $5 000 000
                    1 year Interim interest Six-monthly 1.54% $1 000 $5 000 000
                    3 years Interim interest Six-monthly 1.89% $1 000 $5 000 000
                    3 years Standard interest 1.90% $1 000 $5 000 000
                    1 year Standard interest 1.55% $1 000 $5 000 000
                    1 year Interim interest Quarterly 1.54% $1 000 $5 000 000
                    1 year Interim interest Monthly 1.54% $1 000 $5 000 000
                    57464
                    15 months Interim interest Monthly
                    Minimum Deposit

                    $1,000

                    Maximum Deposit

                    $5,000,000

                    Rate (p.a.)

                    1.54% -

                    Interest info: Monthly

                      Heretaunga Building Society
                      Product name Rate Minimum deposit Maximum deposit
                      2 years 1.70% $1 $1 000 000
                      6 Months 1.25% $1 $1 000 000
                      3 Months 0.70% $1 $1 000 000
                      1 Year 1.50% $1 $1 000 000
                      53938
                      1 Year
                      Minimum Deposit

                      $1

                      Maximum Deposit

                      $1,000,000

                      Rate (p.a.)

                      1.50% -

                      Interest info: Interest paid six monthly or on maturity

                        Kookmin Bank
                        Product name Rate Minimum deposit Maximum deposit
                        7D ~ 1M 0.00% $5 000 $9 999
                        7D ~ 1M 0.00% $10 000 $49 999
                        7D ~ 1M 0.00% $50 000 $99 999
                        7D ~ 1M 0.00% $100 000 -
                        9M 1.20% $100 000 -
                        9M 1.10% $50 000 $99 999
                        9M 0.90% $5 000 $9 999
                        6M 1.10% $100 000 -
                        6M 0.90% $10 000 $49 999
                        6M 0.80% $5 000 $9 999
                        5M 0.60% $100 000 -
                        5M 0.50% $50 000 $99 999
                        5 Y 2.00% $100 000 -
                        5 Y 1.70% $5 000 $9 999
                        4M 0.50% $50 000 $99 999
                        4M 0.30% $5 000 $9 999
                        4 Y 1.90% $100 000 -
                        4 Y 1.80% $50 000 $99 999
                        3 Y 1.50% $10 000 $49 999
                        3 Y 1.40% $5 000 $9 999
                        3 Y 1.60% $50 000 $99 999
                        2 Y 1.60% $100 000 -
                        2 Y 1.50% $50 000 $99 999
                        2 Y 1.40% $10 000 $49 999
                        2 Y 1.30% $5 000 $9 999
                        1 Y 1.40% $50 000 $99 999
                        1 Y 1.30% $10 000 $49 999
                        9M 1.00% $10 000 $49 999
                        4 Y 1.70% $10 000 $49 999
                        4 Y 1.60% $5 000 $9 999
                        2M 0.10% $5 000 $9 999
                        2M 0.10% $10 000 $49 999
                        2M 0.10% $50 000 $99 999
                        2M 0.10% $100 000 -
                        5 Y 1.90% $50 000 $99 999
                        5 Y 1.80% $10 000 $49 999
                        5M 0.30% $5 000 $9 999
                        1M 0.10% $5 000 $9 999
                        1M 0.10% $10 000 $49 999
                        1M 0.10% $50 000 $99 999
                        1M 0.10% $100 000 -
                        4M 0.60% $100 000 -
                        4M 0.40% $10 000 $49 999
                        3M 0.30% $5 000 $9 999
                        3M 0.30% $10 000 $49 999
                        3M 0.30% $50 000 $99 999
                        1 Y 1.50% $100 000 -
                        3M 0.40% $100 000 -
                        3 Y 1.70% $100 000 -
                        1 Y 1.20% $5 000 $9 999
                        6M 1.00% $50 000 $99 999
                        5M 0.40% $10 000 $49 999
                        54830
                        1 Y
                        Minimum Deposit

                        $100,000

                        Maximum Deposit

                        -

                        Rate (p.a.)

                        1.50% -

                          Nelson Building Society
                          Product name Rate Minimum deposit Maximum deposit
                          6 months 1.10% $5 000 -
                          9 months 1.30% $5 000 -
                          36 months 1.80% $5 000 -
                          24 months 1.60% $5 000 -
                          30 days 0.15% $5 000 -
                          12 months 1.50% $5 000 -
                          90 days 0.45% $5 000 -
                          54831
                          12 months
                          Minimum Deposit

                          $5,000

                          Maximum Deposit

                          -

                          Rate (p.a.)

                          1.50% -

                          Interest info: Interest can be paid monthly, quarterly or on maturity.

                            SBS Bank
                            Product name Rate Minimum deposit Maximum deposit
                            11 months 1.30% $1 000 -
                            11 months 1.30% $1 000 -
                            6 months 1.45% $1 000 -
                            8 months 1.45% $1 000 -
                            6 months 1.45% $1 000 -
                            3 months 0.40% $1 000 -
                            18 months 1.50% $1 000 -
                            12 months 1.50% $1 000 -
                            9 months 1.45% $1 000 -
                            9 months 1.45% $1 000 -
                            8 months 1.45% $1 000 -
                            24 months 1.60% $1 000 -
                            12 months 1.50% $1 000 -
                            36 months 1.80% $1 000 -
                            57172
                            12 months
                            Minimum Deposit

                            $1,000

                            Maximum Deposit

                            -

                            Rate (p.a.)

                            1.50% -

                            Interest info: Maturity

                              SBS Bank
                              Product name Rate Minimum deposit Maximum deposit
                              11 months 1.30% $1 000 -
                              11 months 1.30% $1 000 -
                              6 months 1.45% $1 000 -
                              8 months 1.45% $1 000 -
                              6 months 1.45% $1 000 -
                              3 months 0.40% $1 000 -
                              18 months 1.50% $1 000 -
                              12 months 1.50% $1 000 -
                              9 months 1.45% $1 000 -
                              9 months 1.45% $1 000 -
                              8 months 1.45% $1 000 -
                              24 months 1.60% $1 000 -
                              12 months 1.50% $1 000 -
                              36 months 1.80% $1 000 -
                              55383
                              12 months
                              Minimum Deposit

                              $1,000

                              Maximum Deposit

                              -

                              Rate (p.a.)

                              1.50% -

                              Interest info: Monthly

                                58361 Compare 
                                58362 Compare 
                                58363 Compare 
                                58364 Compare 
                                58365 Compare 
                                58335 Compare 
                                58336 Compare 
                                58337 Compare 
                                58338 Compare 
                                58339 Compare 
                                58340 Compare 
                                58341 Compare 
                                58342 Compare 
                                58343 Compare 
                                58344 Compare 
                                58345 Compare 
                                58346 Compare 
                                58347 Compare 
                                58348 Compare 
                                58349 Compare 
                                58350 Compare 
                                58351 Compare 
                                58352 Compare 
                                58353 Compare 
                                58354 Compare 
                                58355 Compare 
                                58356 Compare 
                                58357 Compare 
                                58358 Compare 
                                58359 Compare 
                                58360 Compare 
                                58309 Compare 
                                58310 Compare 
                                58311 Compare 
                                58312 Compare 
                                58313 Compare 
                                58314 Compare 
                                58315 Compare 
                                58316 Compare 
                                58317 Compare 
                                58318 Compare 
                                58319 Compare 
                                58320 Compare 
                                58321 Compare 
                                58322 Compare 
                                58323 Compare 
                                58324 Compare 
                                58325 Compare 
                                58326 Compare 
                                58327 Compare 
                                58328 Compare 
                                58329 Compare 
                                58330 Compare 
                                58331 Compare 
                                58332 Compare 
                                58333 Compare 
                                58334 Compare 
                                58286 Compare 
                                58287 Compare 
                                58288 Compare 
                                58289 Compare 
                                58290 Compare 
                                58291 Compare 
                                58292 Compare 
                                58293 Compare 
                                58294 Compare 
                                58295 Compare 
                                58296 Compare 
                                58297 Compare 
                                58298 Compare 
                                58299 Compare 
                                58300 Compare 
                                58301 Compare 
                                58302 Compare 
                                58303 Compare 
                                58304 Compare 
                                58305 Compare 
                                58306 Compare 
                                58307 Compare 
                                58308 Compare 
                                58256 Compare 
                                58257 Compare 
                                58258 Compare 
                                58259 Compare 
                                58260 Compare 
                                58261 Compare 
                                58262 Compare 
                                58263 Compare 
                                58264 Compare 
                                58265 Compare 
                                58266 Compare 
                                58267 Compare 
                                58268 Compare 
                                58269 Compare 
                                58270 Compare 
                                58271 Compare 
                                58272 Compare 
                                58273 Compare 
                                58274 Compare 
                                58275 Compare 
                                58276 Compare 
                                58277 Compare 
                                58278 Compare 
                                58279 Compare 
                                58280 Compare 
                                58281 Compare 
                                58282 Compare 
                                58283 Compare 
                                58284 Compare 
                                58285 Compare 
                                58243 Compare 
                                58244 Compare 
                                58245 Compare 
                                58246 Compare 
                                58247 Compare 
                                58248 Compare 
                                58249 Compare 
                                58250 Compare 
                                58251 Compare 
                                58252 Compare 
                                58253 Compare 
                                58254 Compare 
                                58255 Compare 
                                58233 Compare 
                                58234 Compare 
                                58235 Compare 
                                58236 Compare 
                                58237 Compare 
                                58238 Compare 
                                58239 Compare 
                                58240 Compare 
                                58241 Compare 
                                58242 Compare 
                                58130 Compare 
                                58131 Compare 
                                58132 Compare 
                                58133 Compare 
                                58134 Compare 
                                58135 Compare 
                                58136 Compare 
                                58137 Compare 
                                58138 Compare 
                                58139 Compare 
                                58140 Compare 
                                58141 Compare 
                                58142 Compare 
                                58121 Compare 
                                58122 Compare 
                                58123 Compare 
                                58124 Compare 
                                58125 Compare 
                                58126 Compare 
                                58127 Compare 
                                58128 Compare 
                                58129 Compare 
                                58108 Compare 
                                58109 Compare 
                                58110 Compare 
                                58111 Compare 
                                58112 Compare 
                                58113 Compare 
                                58114 Compare 
                                58115 Compare 
                                58116 Compare 
                                58117 Compare 
                                58118 Compare 
                                58119 Compare 
                                58120 Compare 
                                58024 Compare 
                                58025 Compare 
                                58029 Compare 
                                58013 Compare 
                                58014 Compare 
                                58015 Compare 
                                58016 Compare 
                                58017 Compare 
                                58018 Compare 
                                58019 Compare 
                                58020 Compare 
                                58021 Compare 
                                58022 Compare 
                                58023 Compare 
                                57957 Compare 
                                57961 Compare 
                                57948 Compare 
                                57901 Compare 
                                57902 Compare 
                                57903 Compare 
                                57893 Compare 
                                57855 Compare 
                                57852 Compare 
                                57839 Compare 
                                57801 Compare 
                                57746 Compare 
                                57750 Compare 
                                57724 Compare 
                                57737 Compare 
                                57738 Compare 
                                57678 Compare 
                                57693 Compare 
                                57655 Compare 
                                57656 Compare 
                                57657 Compare 
                                57665 Compare 
                                57666 Compare 
                                57667 Compare 
                                57668 Compare 
                                57669 Compare 
                                57670 Compare 
                                57671 Compare 
                                57672 Compare 
                                57645 Compare 
                                57646 Compare 
                                57647 Compare 
                                57648 Compare 
                                57649 Compare 
                                57650 Compare 
                                57651 Compare 
                                57652 Compare 
                                57653 Compare 
                                57596 Compare 
                                57555 Compare 
                                57556 Compare 
                                57557 Compare 
                                57517 Compare 
                                57522 Compare 
                                57500 Compare 
                                57462 Compare 
                                57463 Compare 
                                57464 Compare 
                                57415 Compare 
                                57416 Compare 
                                57375 Compare 
                                57397 Compare 
                                57398 Compare 
                                57305 Compare 
                                57306 Compare 
                                57307 Compare 
                                57310 Compare 
                                57311 Compare 
                                57322 Compare 
                                57324 Compare 
                                57325 Compare 
                                57228 Compare 
                                57210 Compare 
                                57172 Compare 
                                57180 Compare 
                                57181 Compare 
                                57182 Compare 
                                57133 Compare 
                                57118 Compare 
                                57119 Compare 
                                57120 Compare 
                                57121 Compare 
                                57123 Compare 
                                57124 Compare 
                                57057 Compare 
                                57059 Compare 
                                57062 Compare 
                                57063 Compare 
                                57079 Compare 
                                57080 Compare 
                                57030 Compare 
                                57033 Compare 
                                57049 Compare 
                                57050 Compare 
                                57051 Compare 
                                56898 Compare 
                                56852 Compare 
                                56765 Compare 
                                56715 Compare 
                                56691 Compare 
                                56644 Compare 
                                56645 Compare 
                                56646 Compare 
                                56647 Compare 
                                56600 Compare 
                                56623 Compare 
                                56630 Compare 
                                56631 Compare 
                                56632 Compare 
                                56633 Compare 
                                56636 Compare 
                                56637 Compare 
                                56638 Compare 
                                56639 Compare 
                                56640 Compare 
                                56641 Compare 
                                56642 Compare 
                                56574 Compare 
                                56586 Compare 
                                56567 Compare 
                                56471 Compare 
                                56473 Compare 
                                56474 Compare 
                                56475 Compare 
                                56478 Compare 
                                56495 Compare 
                                56435 Compare 
                                56436 Compare 
                                56396 Compare 
                                56397 Compare 
                                56398 Compare 
                                56317 Compare 
                                56293 Compare 
                                56193 Compare 
                                56173 Compare 
                                56146 Compare 
                                56139 Compare 
                                56089 Compare 
                                56095 Compare 
                                56096 Compare 
                                56098 Compare 
                                55932 Compare 
                                55887 Compare 
                                55888 Compare 
                                55871 Compare 
                                55872 Compare 
                                55832 Compare 
                                55833 Compare 
                                55834 Compare 
                                55807 Compare 
                                55808 Compare 
                                55769 Compare 
                                55745 Compare 
                                55714 Compare 
                                55480 Compare 
                                55466 Compare 
                                55447 Compare 
                                55449 Compare 
                                55373 Compare 
                                55376 Compare 
                                55377 Compare 
                                55383 Compare 
                                55370 Compare 
                                55345 Compare 
                                55346 Compare 
                                55351 Compare 
                                55353 Compare 
                                55338 Compare 
                                55285 Compare 
                                55197 Compare 
                                55118 Compare 
                                55119 Compare 
                                55120 Compare 
                                55089 Compare 
                                55090 Compare 
                                55091 Compare 
                                55092 Compare 
                                55016 Compare 
                                55017 Compare 
                                55044 Compare 
                                55045 Compare 
                                54977 Compare 
                                54978 Compare 
                                54991 Compare 
                                54992 Compare 
                                54993 Compare 
                                54931 Compare 
                                54932 Compare 
                                54933 Compare 
                                54934 Compare 
                                54957 Compare 
                                54914 Compare 
                                54915 Compare 
                                54919 Compare 
                                54920 Compare 
                                54921 Compare 
                                54830 Compare 
                                54831 Compare 
                                54838 Compare 
                                54688 Compare 
                                54648 Compare 
                                54501 Compare 
                                54528 Compare 
                                54400 Compare 
                                54401 Compare 
                                54402 Compare 
                                54348 Compare 
                                54349 Compare 
                                54305 Compare 
                                54082 Compare 
                                54001 Compare 
                                53938 Compare 
                                53822 Compare 
                                53823 Compare 
                                53824 Compare 
                                53691 Compare 
                                53593 Compare 
                                53568 Compare 
                                53287 Compare 
                                53288 Compare 
                                53164 Compare 
                                53165 Compare 
                                53166 Compare 
                                53144 Compare 
                                51596 Compare 
                                51157 Compare 
                                51158 Compare 
                                51159 Compare 
                                51186 Compare 
                                50763 Compare 
                                50624 Compare 
                                50371 Compare 
                                50372 Compare 
                                50373 Compare 
                                50313 Compare 
                                50186 Compare 
                                50111 Compare 

                                Term Deposit Interest Rates in NZ

                                People who work hard for their money can make their money work for them. As the saying goes, “Money attracts money,” and if wealth is invested correctly, rather than spent, it can produce additional income.

                                Term deposits do exactly that: They help New Zealanders maximize their savings potential. Term deposits made with an upfront investment can easily be fruitful over time.

                                There are a variety of financial institutions at New Zealanders’ fingertips, making it difficult to know where the best term deposits are, and how to find them. This guide will explain the ins and outs of term deposits to help investors make the best choice.

                                What is a Term Deposit and How Does It Work?

                                A term deposit is an investment held at a financial institution for a fixed amount of time, or a “term.” The investment is held for a predetermined period, typically between one month and five years, with a fixed interest rate for the agreed period. In most cases, the money can only be withdrawn when the term ends; if it is necessary to access it earlier, penalties will apply. These may be partial or full forfeiture of the interest the term deposit would have earned.

                                Term Deposit vs Savings Account

                                Term deposits are funds that are locked away and can earn higher interest rates than a traditional savings account. Money in a savings account can usually be withdrawn at any time, but would then earn typically less interest.

                                Is a Term Deposit Worth It?

                                A term deposit can be worthwhile in the long run, but it truly depends on each individual’s unique situation and ultimate goals. For example, if an investor has money that he or she won’t need to access for a while, meaning it could be deposited with a longer term, then the rate could be worth it.

                                Conversely, if an investor needs the funds sooner for improvements on a home, or to grow a small business, then a short-term deposit might not be worth it. There are different types of term deposits available that can make the investment rates beneficial.

                                Short Term Deposits

                                A short term deposit can last anywhere from one month to a year.

                                Short-Term Deposit Pros

                                • This is not as big a commitment as a long-term deposit. People who think they might need to access their funds in the near future might be most comfortable locking them away for a short term.
                                • It can be a way of meeting short-term savings goals; for example, an upcoming holiday or new car.
                                • It comes with a lower chance of being stung by early withdrawal fees. If the money is needed unexpectedly, it’s easier to wait out a short term and avoid early withdrawal penalties than it would be with a longer term.
                                • If market interest rates rise, there are more frequent opportunities to reinvest or add more money to the term deposit balance and reinvest for another term.

                                Short Term Deposit Cons

                                • Shorter terms usually offer a lower interest rate.
                                • As a short term ends, it can be tempting to withdraw the money and spend it.
                                • It’s not as low maintenance. The shorter the term, the sooner the decision of reinvesting will roll around.
                                • Those who choose to let the deposit roll over could lose a competitive interest rate if the market rates have changed.

                                Long-Term Deposits

                                A longer deposit (which typically lasts between one and 5 years) can work for savers who have long-term goals. It can also be useful for people who have a lump sum, such as a work bonus or inheritance, that won’t be needed in the near future.

                                Long-Term Deposit Pros

                                • Longer term deposits often pay higher rates than short terms.
                                • The interest rate will be locked in for a long time. If market rates drop, the interest on the investments will remain the same for longer.
                                • It can help with saving for long-term goals, as the investment will be hard to access without harsh penalties.

                                Long-Term Deposit Cons

                                • If market rates rise, the investment will be locked into the lower rate for the term.
                                • The long-term commitment means the funds cannot be accessed for emergencies or unexpected expenses without incurring penalties.
                                • It requires careful planning to ensure that investors can afford to have the funds locked away for a long time without accessing them.

                                 

                                What You Should Know Before Choosing a Term Investment Option

                                Investing can be an exciting opportunity, but it is important to plan ahead and be diligent in researching the various available options before nailing down a specific financial choice.

                                Are term deposits safe in NZ, or can they cause money loss?

                                Any investment comes with a risk. There is no guarantee that investors will make money, and it could be that they will lose money in the end.

                                Can investors keep putting money into a term deposit?

                                Some institutions offer a “top up” feature, which allows investors to add additional funding later. This is not a common feature, however, and is usually offered on specific term deposits.

                                Will term deposit rates increase in NZ?

                                There is no guarantee that rates will increase. While rates fluctuate almost daily, investors can watch the trends and make educated predictions on when rates will increase. But there is no true way to say for certain when term deposit interest rates will rise.

                                Can you end a term deposit early?

                                Yes, but first, read the terms and conditions to find out what will happen then. Some institutions allow a one-time withdrawal for no fee, while others levy additional charges.

                                Do you pay tax on term deposits?

                                Yes, the NZ government assesses a tax depending on the investor’s income level.

                                How do I apply for a term deposit?

                                Here are the important things investors need when applying to open a term deposit:

                                Contact details

                                Whether applying online or inhouse, investors will need to provide a phone number and email address when opening a term deposit. Give accurate details and update them when necessary, since the bank will use this information to send updates on the term deposit maturity.

                                Identification

                                A photo ID (such as a driver’s license, student ID, or passport) will usually be required, especially of those who are new to that particular financial institution. These are required to obtain proof of age, as banks have a variety of minimum age limits for term deposits; most are lenient, and some offer special accounts for children.

                                Member number

                                Those who bank with a credit union will need to supply their member numbers. Investors who are not already members will be required to sign up. Be aware that this process might involve a membership fee.

                                A bank account

                                This is the account to which the term deposit interest will be sent. Those who are opening a term deposit at a different bank to their usual one should check to see if the new provider will pay the interest into their old bank account. Some do not allow this, and will require new members to start a savings or bank account with them when opening a term deposit.

                                A desired term

                                Carefully consider the different types of term deposits available.

                                The important things investors need to think about are their budgets, and also their plans for the future. Choose a term that fits into those parameters, to avoid unnecessary early withdrawals.

                                Minimum deposit

                                The deposit must be the lump sum previously decided with the financial institution, in line with the term that was chosen. Think about which term deposit is best, and have at least that amount of money available before applying.

                                A future savings plan

                                Have a plan in place for what to do when the term deposit matures; decide whether to withdraw the money or reinvest it for another term. Make these arrangements with the financial provider so both parties know what the money will be doing when its term comes to an end.

                                Term Deposit Summary

                                • Before making an investment decision, consider all of the options available, and compare them thoughtfully. Research the financial institution, read reviews from other customers, and inspect the difference in rates.

                                • It is also possible to negotiate with financial institutions for the best term deposit rates. Longer term investments will pay off more in the long run, versus shorter terms – but think about how long the money will be locked away.

                                • Anywhere from one month to five years, term deposits have been proven to grow investors’ money without any additional work. Money can return even more money, thanks to smart, low-risk investment choices.