Rapid Save

Earn bonus interest for regular increases in monthly savings and no more than one withdrawal a month

  • Good for reaching savings goals faster
  • Base interest calculated daily
  • No charge for the first withdrawal each month1 (service fees apply)

More detail

Competitive interest to encourage your savings

You’ll earn competitive interest on every dollar available in your Rapid Save account. Interest is calculated daily and paid monthly, to maximise the compounding effect of your interest payments.

Bonus interest to boost your balance

You can also earn bonus interest if no more than one withdrawal is made per month1 and your account balance increases (in addition to any interest you earn each month).

Your funds are always available

The money in your Rapid Save account is ‘on call’ 24 hours a day, seven days a week via ATMs, EFTPOS, bank tellers, internet banking or telephone banking.

Easy on fees

There are no account fees for deposits and you can make one withdrawal each month1 with no charge (service fees apply).

 Rates and fees
Interest rates
Credit Interest Rates
Current % p.a
(Effective 31 January 2012)
 Loading combined rate
Loading base rate
Loading bonus rate
($0+)
Fees
Monthly2 base or account management fee None
No Account Fees apply to the following: No charges for deposits3 or for the first withdrawal per month. Service fees may apply.
BNZ Internet Banking* $5.00. Service fees may apply.
Electronic Transactions:
(EFTPOS, Bill Payments, Direct Credits, Direct Debits, Telephone Banking*, self service transactions)
$5.00. Service fees may apply.
Automatic Payments4 $5.00. Service fees may apply.
ATM* $5.00. Service fees may apply.
Cheques written Not applicable.
Freepost Deposits No charge3
Store/staff assisted transactions $5.00. Service fees may apply.
Express Deposit Tower deposits No charge3
Facility fees
Overdrawn savings account fee $5.00 for any month overdrawn. You will also pay interest on the overdrawn amount at the Bank's Base Lending Rate plus 10% p.a.
Overdraft establishment fee Not applicable to these accounts
Overdraft facility fee Not applicable to these accounts

Next steps

Apply online nowFind a store 0800 275 269

Small print

  1. A month refers to the period from the last business day of the previous month to the second to last business day of the current calendar month
  2. Fees are charged on the last business day of each calendar month and are based on the period between the last business day of the previous calendar month and the second to last business day of the current month, inclusive.
  3. Fees for Telegraphic Transfers will apply.
  4. Automatic Payments into your account from other parties are classed as Electronic Transactions.

* Although the Telephone and Internet Banking and ATM services will normally be available 24 hours a day, maintenance of the system is required from time to time. Accordingly certain options may not be available for an average of three hours a week. This maintenance, however will be carried out at times which will cause the least disruption to you.

Account opening criteria apply. Full details, terms and conditions and disclosure statement may also be obtained free of charge from a BNZ store.