This information is for you if you’ve received a letter/email titled ‘Information about your term deposit maturity date(s)’. Here’s some more information about this change.

What’s changing?

As stated in our standard terms and conditions, the maturity date of your term deposit is ‘the next business day, following the last day of your term’. We’re making a change to our systems to ensure the maturity dates on all term deposits fall on a business day. If your term deposit is due to end on a non-business day, the maturity date will move to the next business day.

What’s a ‘business day’?

Business day means every day except Saturday, Sunday, and national public holidays (but includes provincial anniversary days).

When does this happen?

From 16 March 2025, you will see your maturity date reflected as a business day in the BNZ app and Internet Banking, and any communications we send to you about your term deposit. For any new term deposits you set up, or when your existing term deposit rolls over, your maturity date will automatically show as a business day, even if the chosen term ends on a non-business day.

Do I need to do anything?

There’s nothing you need to do; we’ll make this change automatically on 16 March 2025.

Will I earn less interest because of this change?

No – if your term is extended, you’ll earn interest for all days of your term.

What if I want to change my maturity instructions?

You can change your maturity instructions at any time in Internet Banking. (Internet access required for Internet Banking. BNZ Internet Banking terms and conditions apply. Maintenance sometimes required.)

If you’re more than 14 days away from your maturity date, you can set up to reinvest or be paid out the full amount at maturity. If you’re within 14 days of your maturity date, you can choose all reinvest instructions including term and applicable interest rate, and interest payment instructions. (Account opening criteria and standard terms and conditions apply.)

Regardless of whether your term deposit is reinvesting or paying out, the maturity date will be a business day.