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
ANZ Bank
Product name Rate Minimum deposit Maximum deposit
30 days 0.30% $10 000 $5 000 000
240 days 1.15% $10 000 $5 000 000
210 days 1.15% $10 000 $5 000 000
180 days 1.10% $10 000 $5 000 000
150 days 0.70% $10 000 $5 000 000
4 years 1.90% $10 000 $5 000 000
120 days 0.60% $10 000 $5 000 000
1 year 1.40% $10 000 $5 000 000
18 months 1.40% $10 000 $5 000 000
60 days 0.40% $10 000 $5 000 000
90 days 0.50% $10 000 $5 000 000
270 days 1.20% $10 000 $5 000 000
3 years 1.75% $10 000 $5 000 000
5 years 2.10% $10 000 $5 000 000
2 years 1.60% $10 000 $5 000 000
58108
1 year
Minimum Deposit

$10,000

Maximum Deposit

$5,000,000

Rate (p.a.)

1.40% -

Interest info: Compounded quarterly, six monthly, annually or at maturity. Paid into any New Zealand bank account monthly, quarterly, six monthly, annually or at maturity.

    Bank of New Zealand
    Product name Rate Minimum deposit Maximum deposit
    240 - 269 days 1.25% $2 000 $5 000 000
    90 - 119 days 0.45% $2 000 $5 000 000
    4 years 2.00% $2 000 $5 000 000
    1 year 1.40% $2 000 $5 000 000
    270 - 364 days 1.30% $2 000 $5 000 000
    2 years 1.60% $2 000 $5 000 000
    5 years 2.15% $2 000 $5 000 000
    180 - 189 days 1.10% $2 000 $5 000 000
    190 - 209 days 1.10% $2 000 $5 000 000
    3 years 1.90% $2 000 $5 000 000
    210 - 239 days 1.20% $2 000 $5 000 000
    120 - 149 days 0.55% $2 000 $5 000 000
    7 - 29 days 0.15% $2 000 $5 000 000
    160 - 179 days 0.70% $2 000 $5 000 000
    30 - 59 days 0.15% $2 000 $5 000 000
    150 - 159 days 0.70% $2 000 $5 000 000
    18 months 1.45% $2 000 $5 000 000
    60 - 89 days 0.25% $2 000 $5 000 000
    58109
    1 year
    Minimum Deposit

    $2,000

    Maximum Deposit

    $5,000,000

    Rate (p.a.)

    1.40% -

    Interest info: Interest payment options available (quarterly, six monthly, annually and at 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
      58110
      1 Y
      Minimum Deposit

      $50,000

      Maximum Deposit

      $99,999

      Rate (p.a.)

      1.40% -

        NZCU Auckland
        Product name Rate Minimum deposit Maximum deposit
        9 months 1.15% $10 000 $500 000
        24 months 1.50% $10 000 $500 000
        24 months 1.30% $500 $9 999
        12 months 1.40% $10 000 $500 000
        12 months 1.25% $500 $9 999
        18 months 1.25% $500 $9 999
        18 months 1.40% $10 000 $500 000
        3 months 0.60% $500 $9 999
        3 months 0.60% $10 000 $500 000
        6 months 1.15% $10 000 $500 000
        9 months 1.05% $500 $9 999
        6 months 1.05% $500 $9 999
        58111
        12 months
        Minimum Deposit

        $10,000

        Maximum Deposit

        $500,000

        Rate (p.a.)

        1.40% -

        Interest info: Interest can be paid or compounded on maturity or quarterly

          Kiwibank
          Product name Rate Minimum deposit Maximum deposit
          9 months 1.00% $10 000 $49 999
          9 months 1.00% $50 000 -
          30 days 0.25% $10 000 $49 999
          30 days 0.25% $50 000 -
          30 days 0.15% $5 000 $9 999
          6 months 1.15% $10 000 $49 999
          6 months 1.15% $50 000 -
          6 months 1.05% $5 000 $9 999
          200 days 0.90% $5 000 $9 999
          200 days 0.50% $1 000 $4 999
          6 months 0.50% $1 000 $4 999
          150 days 0.25% $1 000 $4 999
          120 days 0.55% $10 000 $49 999
          120 days 0.55% $50 000 -
          120 days 0.45% $5 000 $9 999
          120 days 0.25% $1 000 $4 999
          4 years 1.90% $10 000 $49 999
          4 years 1.90% $50 000 -
          4 years 0.50% $1 000 $4 999
          90 days 0.35% $5 000 $9 999
          90 days 0.45% $10 000 $49 999
          90 days 0.45% $50 000 -
          1 year 1.35% $50 000 -
          2 years 1.60% $5 000 $9 999
          2 years 1.70% $10 000 $49 999
          2 years 1.70% $50 000 -
          60 days 0.25% $5 000 $9 999
          60 days 0.35% $10 000 $49 999
          60 days 0.35% $50 000 -
          2 years 0.50% $1 000 $4 999
          100 days 0.35% $5 000 $9 999
          1 year 0.50% $1 000 $4 999
          150 days 0.60% $5 000 $9 999
          3 years 0.50% $1 000 $4 999
          5 years 0.50% $1 000 $4 999
          9 months 0.50% $1 000 $4 999
          3 years 1.70% $10 000 $49 999
          3 years 1.70% $50 000 -
          100 days 0.25% $1 000 $4 999
          90 days 0.25% $1 000 $4 999
          9 months 0.90% $5 000 $9 999
          5 years 1.90% $5 000 $9 999
          4 years 1.80% $5 000 $9 999
          1 year 1.35% $10 000 $49 999
          150 days 0.70% $10 000 $49 999
          150 days 0.70% $50 000 -
          5 years 2.00% $50 000 -
          5 years 2.00% $10 000 $49 999
          3 years 1.60% $5 000 $9 999
          100 days 0.45% $10 000 $49 999
          100 days 0.45% $50 000 -
          1 year 1.25% $5 000 $9 999
          200 days 1.00% $10 000 $49 999
          200 days 1.00% $50 000 -
          55197
          1 year
          Minimum Deposit

          $10,000

          Maximum Deposit

          $49,999

          Rate (p.a.)

          1.35% -

          Interest info: Interest Paid at Maturity

            Kiwibank
            Product name Rate Minimum deposit Maximum deposit
            9 months 1.00% $10 000 $49 999
            9 months 1.00% $50 000 -
            30 days 0.25% $10 000 $49 999
            30 days 0.25% $50 000 -
            30 days 0.15% $5 000 $9 999
            6 months 1.15% $10 000 $49 999
            6 months 1.15% $50 000 -
            6 months 1.05% $5 000 $9 999
            200 days 0.90% $5 000 $9 999
            200 days 0.50% $1 000 $4 999
            6 months 0.50% $1 000 $4 999
            150 days 0.25% $1 000 $4 999
            120 days 0.55% $10 000 $49 999
            120 days 0.55% $50 000 -
            120 days 0.45% $5 000 $9 999
            120 days 0.25% $1 000 $4 999
            4 years 1.90% $10 000 $49 999
            4 years 1.90% $50 000 -
            4 years 0.50% $1 000 $4 999
            90 days 0.35% $5 000 $9 999
            90 days 0.45% $10 000 $49 999
            90 days 0.45% $50 000 -
            1 year 1.35% $50 000 -
            2 years 1.60% $5 000 $9 999
            2 years 1.70% $10 000 $49 999
            2 years 1.70% $50 000 -
            60 days 0.25% $5 000 $9 999
            60 days 0.35% $10 000 $49 999
            60 days 0.35% $50 000 -
            2 years 0.50% $1 000 $4 999
            100 days 0.35% $5 000 $9 999
            1 year 0.50% $1 000 $4 999
            150 days 0.60% $5 000 $9 999
            3 years 0.50% $1 000 $4 999
            5 years 0.50% $1 000 $4 999
            9 months 0.50% $1 000 $4 999
            3 years 1.70% $10 000 $49 999
            3 years 1.70% $50 000 -
            100 days 0.25% $1 000 $4 999
            90 days 0.25% $1 000 $4 999
            9 months 0.90% $5 000 $9 999
            5 years 1.90% $5 000 $9 999
            4 years 1.80% $5 000 $9 999
            1 year 1.35% $10 000 $49 999
            150 days 0.70% $10 000 $49 999
            150 days 0.70% $50 000 -
            5 years 2.00% $50 000 -
            5 years 2.00% $10 000 $49 999
            3 years 1.60% $5 000 $9 999
            100 days 0.45% $10 000 $49 999
            100 days 0.45% $50 000 -
            1 year 1.25% $5 000 $9 999
            200 days 1.00% $10 000 $49 999
            200 days 1.00% $50 000 -
            58112
            1 year
            Minimum Deposit

            $50,000

            Maximum Deposit

            -

            Rate (p.a.)

            1.35% -

            Interest info: Interest Paid at Maturity

              Wairarapa Building Society
              Product name Rate Minimum deposit Maximum deposit
              270 Days 1.15% $100 000 -
              270 Days 1.10% $10 000 $99 999
              180 Days 0.95% $100 000 -
              180 Days 0.95% $10 000 $99 999
              120 Days 0.50% $100 000 -
              120 Days 0.50% $10 000 $99 999
              90 Days 0.40% $100 000 -
              18 Months 1.40% $10 000 $99 999
              18 Months 1.50% $100 000 -
              1 Year 1.30% $10 000 $99 999
              2 Years 1.55% $10 000 $99 999
              2 Years 1.65% $100 000 -
              1 Year 1.35% $100 000 -
              90 Days 0.40% $10 000 $99 999
              57893
              1 Year
              Minimum Deposit

              $100,000

              Maximum Deposit

              -

              Rate (p.a.)

              1.35% -

              Interest info: Interest is calculated on a daily basis. Interest paid on maturity can be either compounded and reinvested or paid out.

                ASB Bank
                Product name Rate Minimum deposit Maximum deposit
                9 Months 1.20% $5 000 $10 000
                9 Months 1.20% $10 000 -
                6 Months 1.00% $5 000 $10 000
                6 Months 1.00% $10 000 -
                5 Months 0.70% $5 000 $10 000
                5 Months 0.70% $10 000 -
                4 Months 0.55% $5 000 $10 000
                4 Months 0.55% $10 000 -
                90 Days 0.45% $5 000 $10 000
                18 Months 1.45% $5 000 $10 000
                18 Months 1.45% $10 000 -
                2 Years 1.60% $5 000 $10 000
                2 Years 1.60% $10 000 -
                3 Years 1.90% $10 000 -
                90 Days 0.45% $10 000 -
                12 Months 1.30% $10 000 -
                30 Days 0.15% $5 000 $10 000
                30 Days 0.15% $10 000 -
                3 Years 1.90% $5 000 $10 000
                60 Days 0.25% $5 000 $10 000
                60 Days 0.25% $10 000 -
                5 Years 2.15% $10 000 -
                5 Years 2.15% $5 000 $10 000
                4 Years 2.00% $5 000 $10 000
                4 Years 2.00% $10 000 -
                12 Months 1.30% $5 000 $10 000
                54838
                12 Months
                Minimum Deposit

                $5,000

                Maximum Deposit

                $10,000

                Rate (p.a.)

                1.30% -

                Interest info: Depending on the term, returns can be paid quarterly, six-monthly, annually or at the end of the term. Returns can be paid monthly for investments of $10,000 or more with a term of six months or longer.

                  ASB Bank
                  Product name Rate Minimum deposit Maximum deposit
                  9 Months 1.20% $5 000 $10 000
                  9 Months 1.20% $10 000 -
                  6 Months 1.00% $5 000 $10 000
                  6 Months 1.00% $10 000 -
                  5 Months 0.70% $5 000 $10 000
                  5 Months 0.70% $10 000 -
                  4 Months 0.55% $5 000 $10 000
                  4 Months 0.55% $10 000 -
                  90 Days 0.45% $5 000 $10 000
                  18 Months 1.45% $5 000 $10 000
                  18 Months 1.45% $10 000 -
                  2 Years 1.60% $5 000 $10 000
                  2 Years 1.60% $10 000 -
                  3 Years 1.90% $10 000 -
                  90 Days 0.45% $10 000 -
                  12 Months 1.30% $10 000 -
                  30 Days 0.15% $5 000 $10 000
                  30 Days 0.15% $10 000 -
                  3 Years 1.90% $5 000 $10 000
                  60 Days 0.25% $5 000 $10 000
                  60 Days 0.25% $10 000 -
                  5 Years 2.15% $10 000 -
                  5 Years 2.15% $5 000 $10 000
                  4 Years 2.00% $5 000 $10 000
                  4 Years 2.00% $10 000 -
                  12 Months 1.30% $5 000 $10 000
                  57517
                  12 Months
                  Minimum Deposit

                  $10,000

                  Maximum Deposit

                  -

                  Rate (p.a.)

                  1.30% -

                  Interest info: Depending on the term, returns can be paid quarterly, six-monthly, annually or at the end of the term. Returns can be paid monthly for investments of $10,000 or more with a term of six months or longer.

                    Bank of New Zealand
                    Product name Rate Minimum deposit Maximum deposit
                    240 - 269 days 1.25% $2 000 $5 000 000
                    90 - 119 days 0.45% $2 000 $5 000 000
                    4 years 2.00% $2 000 $5 000 000
                    1 year 1.40% $2 000 $5 000 000
                    270 - 364 days 1.30% $2 000 $5 000 000
                    2 years 1.60% $2 000 $5 000 000
                    5 years 2.15% $2 000 $5 000 000
                    180 - 189 days 1.10% $2 000 $5 000 000
                    190 - 209 days 1.10% $2 000 $5 000 000
                    3 years 1.90% $2 000 $5 000 000
                    210 - 239 days 1.20% $2 000 $5 000 000
                    120 - 149 days 0.55% $2 000 $5 000 000
                    7 - 29 days 0.15% $2 000 $5 000 000
                    160 - 179 days 0.70% $2 000 $5 000 000
                    30 - 59 days 0.15% $2 000 $5 000 000
                    150 - 159 days 0.70% $2 000 $5 000 000
                    18 months 1.45% $2 000 $5 000 000
                    60 - 89 days 0.25% $2 000 $5 000 000
                    58113
                    270 - 364 days
                    Minimum Deposit

                    $2,000

                    Maximum Deposit

                    $5,000,000

                    Rate (p.a.)

                    1.30% -

                    Interest info: Interest payment options available (quarterly, six monthly, annually and at maturity)

                      HSBC
                      Product name Rate Minimum deposit Maximum deposit
                      9 months 1.20% $10 000 -
                      9 months 0.50% $0 $9 999
                      1 month 0.15% $10 000 -
                      1 month 0.10% $0 $9 999
                      6 months 1.05% $10 000 -
                      5 months 0.25% $0 $9 999
                      4 months 0.55% $10 000 -
                      4 months 0.20% $0 $9 999
                      4 years 2.00% $10 000 -
                      4 years 1.40% $0 $9 999
                      3 years 1.30% $0 $9 999
                      3 months 0.45% $10 000 -
                      2 years 1.60% $10 000 -
                      5 months 0.70% $10 000 -
                      12 months 0.60% $0 $9 999
                      2 years 1.00% $0 $9 999
                      3 months 0.20% $0 $9 999
                      3 years 1.90% $10 000 -
                      5 years 2.15% $10 000 -
                      12 months 1.30% $10 000 -
                      6 months 0.35% $0 $9 999
                      5 years 1.55% $0 $9 999
                      57180
                      12 months
                      Minimum Deposit

                      $10,000

                      Maximum Deposit

                      -

                      Rate (p.a.)

                      1.30% -

                      Interest info: For term deposits over two months in duration, you can select to have your interest paid to your nominated account on a monthly, quarterly, six-monthly basis or at maturity. Alternatively, you can elect to have your interest paid to your nominated account at the end of your deposit term.

                        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
                        58114
                        1 Y
                        Minimum Deposit

                        $10,000

                        Maximum Deposit

                        $49,999

                        Rate (p.a.)

                        1.30% -

                          NZCU Baywide Central South
                          Product name Rate Minimum deposit Maximum deposit
                          9 months 1.15% $1 000 $1 500 000
                          60 months 1.95% $1 000 $1 500 000
                          5 months 0.65% $1 000 $1 500 000
                          48 months 1.85% $1 000 $1 500 000
                          36 months 1.65% $1 000 $1 500 000
                          3 months 0.40% $1 000 $1 500 000
                          24 months 1.50% $1 000 $1 500 000
                          18 months 1.30% $1 000 $1 500 000
                          12 months 1.30% $1 000 $1 500 000
                          2 months 0.15% $1 000 $1 500 000
                          6 months 1.05% $1 000 $1 500 000
                          4 months 0.45% $1 000 $1 500 000
                          1 month 0.15% $1 000 $1 500 000
                          58115
                          12 months
                          Minimum Deposit

                          $1,000

                          Maximum Deposit

                          $1,500,000

                          Rate (p.a.)

                          1.30% -

                          Interest info: Interest can be paid at regular intervals or on maturity to any account of your choice.

                          • Minimum deposit is $1,000 for adults and $500 for children under 18 years old
                          The Co-operative Bank
                          Product name Rate Minimum deposit Maximum deposit
                          6 Months Special 1.10% $5 000 -
                          12 Months 1.25% $2 000 $9 999
                          12 Months Special 1.30% $5 000 -
                          1 Month 0.15% $50 000 -
                          1 Month 0.15% $10 000 $49 999
                          1 Month 0.15% $2 000 $9 999
                          36 Months 1.85% $10 000 $49 999
                          36 Months 1.85% $50 000 -
                          36 Months 1.85% $2 000 $9 999
                          48 Months 2.05% $10 000 $49 999
                          48 Months 2.05% $50 000 -
                          9 Months 1.10% $50 000 -
                          9 Months 1.10% $10 000 $49 999
                          9 Months 1.10% $2 000 $9 999
                          48 Months 2.05% $2 000 $9 999
                          3 Months 0.45% $50 000 -
                          3 Months 0.45% $10 000 $49 999
                          3 Months 0.45% $2 000 $9 999
                          24 Months 1.60% $50 000 -
                          24 Months 1.60% $10 000 $49 999
                          24 Months 1.60% $2 000 $9 999
                          6 Months 1.05% $10 000 $49 999
                          6 Months 1.05% $2 000 $9 999
                          6 Months 1.05% $50 000 -
                          18 Months 1.40% $50 000 -
                          18 Months 1.40% $10 000 $49 999
                          18 Months 1.40% $2 000 $9 999
                          12 Months 1.25% $50 000 -
                          12 Months 1.25% $10 000 $49 999
                          57181
                          12 Months Special
                          Minimum Deposit

                          $5,000

                          Maximum Deposit

                          -

                          Rate (p.a.)

                          1.30% -

                          Interest info: Interest paid monthly or at maturity only

                            TSB Bank
                            Product name Rate Minimum deposit Maximum deposit
                            30 Days 0.05% $5 000 $9 999
                            9 Months 1.20% $10 000 -
                            9 Months 1.10% $5 000 $9 999
                            6 Months 1.00% $10 000 -
                            6 Months 0.90% $5 000 $9 999
                            4 Months 0.55% $10 000 -
                            4 Years 1.85% $5 000 $9 999
                            90 Days 0.35% $5 000 $9 999
                            90 Days 0.45% $10 000 -
                            2 Years 1.60% $10 000 -
                            18 Months 1.40% $10 000 -
                            18 Months 1.30% $5 000 $9 999
                            5 Years 2.10% $10 000 -
                            4 Years 1.95% $10 000 -
                            5 Months 0.60% $5 000 $9 999
                            5 Months 0.70% $10 000 -
                            4 Months 0.45% $5 000 $9 999
                            60 Days 0.10% $5 000 $9 999
                            12 Months 1.30% $10 000 -
                            2 Years 1.50% $5 000 $9 999
                            30 Days 0.15% $10 000 -
                            3 Years 1.80% $10 000 -
                            60 Days 0.25% $10 000 -
                            3 Years 1.70% $5 000 $9 999
                            5 Years 2.00% $5 000 $9 999
                            12 Months 1.20% $5 000 $9 999
                            57182
                            12 Months
                            Minimum Deposit

                            $10,000

                            Maximum Deposit

                            -

                            Rate (p.a.)

                            1.30% -

                            Interest info: six 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.