Supercharge your savings with term deposits

Decide how long you want to put your savings away, lock in one of our rates, then sit back and watch your savings grow.

Grow your savings and reach your goals

Term deposits are an easy way to grow your money, and start at $2,000. Please visit a store or call 0800 275 269 to apply for term deposits with a minimum deposit of $2,000 to $4,999 (not available online).

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Terms that suit you

You can choose a term that suits you from a range of time frames, starting from as little as 30 day to up to five years. 

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Fixed interest rate

Once you’ve locked in your term, your interest rate won’t change for the length of your investment.

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Payment options

Take your interest at the end of your term, or reinvest. If you want an income, some terms pay interest monthly.

Choose a rate

If you're looking for a different term, or a different investment amount, see full range of terms and rates.^

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Compare returns with our savings accounts

Personal OnCall

Interest rate: -% p.a.

A savings account that works best for casual savers - you can deposit as much as you want to, whenever you want to – there’s no monthly minimum deposit needed to qualify for interest.

More about Personal OnCall 

Rapid Save

Interest rates: % p.a. Total rate (-% base + -% bonus)

A savings account that works best for committed savers– earn bonus interest every month you grow your savings (excluding interest earned), and make only one withdrawal^^. It’s free to move your savings to a term deposit - and you can still earn your bonus interest.

More about Rapid Save 

Looking for a tax-smart alternative? Try these

Term PIE

A fixed-term investment that works like a term deposit. You get the certainty of a fixed rate, with the added benefit of potentially paying less tax.

Find out more

Cash PIE

An investment that works like an on-call account, so you can withdraw your money at any time, but with the benefit of potentially paying less tax.

Find out more

Investments help and support

Small Print

  1. Rates are subject to change. Account opening criteria apply. Details, Standard Terms and Conditions (which include terms and conditions for Term Deposits) may also be obtained free at any BNZ store.

  2. A month refers to the period from the last business day of the previous calendar month to the second to last business day of the current calendar month. For the month that an account is opened, the opening balance is nil. In order to qualify for bonus interest, a deposit must be made to the account (not including any interest paid) at any time before the end of that month. Bonus criteria regarding one withdrawal a month still applies.

  3. $5 withdrawal fee applies per withdrawal for all subsequent withdrawals per month.  A withdrawal includes transferring your money from your Rapid Save account to one of your other BNZ accounts.

BNZ Cash PIE and BNZ Term PIE are offered and managed by BNZ Investment Services Limited, a wholly owned subsidiary of Bank of New Zealand (BNZ). BNZ Cash PIE and BNZ Term PIE Terms and Conditions apply. An investment in BNZ Cash PIE or BNZ Term PIE does not represent a deposit or other liability of BNZ or any other member of the National Australia Bank Limited group, and is subject to investment risk, including possible delays in repayment and loss of income and principal invested. None of BNZ, any other member of the National Australia Bank Limited group, or any other person guarantees (either partially or fully) the capital value or performance of the investment.