Term deposits

Choose from terms of 30 days to five years and enjoy no establishment or management fees.

Changes to term deposit early withdrawals

If you’d like an early withdrawal from your term deposit, you must now give us 31 days’ notice prior to the date you wish to break the deposit, unless you are experiencing hardship.

If we agree to an early withdrawal from your term deposit, you might receive a reduction in the interest paid to you (as currently occurs).

If you have any questions about this change, please call us on 0800 275 269 or visit any BNZ store.

Choose a term deposit rate

Choose how long you want to invest for and how you want your interest paid, then sit back and watch your savings grow1See all rates.

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How it works

  • Term Deposits can help you earn great returns if you can lock your money away for a set term. So if you have savings that you don't need access to right now, a Term Deposit could be for you.
  • Interest rates can rise and fall without notice. But once you’ve invested in one of our term investments (such as a Term Deposit or Monthly Interest Term Investment), you’ll have the certainty of your fixed rate throughout its term.
  • You can ask to withdraw all or part of your term deposit prior to the Maturity Date

          a) by telling us 31 days before you want to withdraw; or
          b) if you are experiencing hardship (as reasonably determined by us).

If we agree to an early withdrawal for either of the above reasons, you might receive a reduction in the interest paid to you.

Term Deposit1 — the easy way to lock in a great return

Choose how long you want to invest for and how much you want to deposit. If you want an income, some terms let you to select how often you want your interest paid out. Or reinvest your interest and watch your deposit steadily grow as you earn interest on your interest. We do the rest.

Minimum deposit: $2,000
Maximum deposit: $1 million
Terms:   30 days to five years
Available interest payments: Generally paid at maturity, although longer terms may let you select other interest payment options

Monthly Interest Term Investment — a Term Deposit that pays monthly interest

If you want a fixed regular income, Monthly Interest Term Investment1 is a great way to manage your lifestyle from month to month. Interest can be paid out or compounded monthly, and you can organise your maturity date to coincide with your future requirements.

Minimum deposit: $20,000
Maximum deposit: $1 million
Terms:   6 months to five years
Available interest payments: Monthly 

Getting a great Term Deposit rate is easy

Using money that’s already in a BNZ account?

  1. Choose the rate that’s best for you
  2. Fill out and submit the online form. You’'ll need details of the BNZ account the funds are to be transferred from, and your Access number, which is on the back of your BNZ EFTPOS or credit card.
  3. You’re done! We'll transfer the funds within two days and send you an Investment Certificate.

Using money that’s currently with another bank?

  1. Choose the rate that’s best for you
  2. Fill out and submit the online form
  3. Bring your reference number and the funds for your term investment into any BNZ store within two days, along with two forms of ID (one of which must be photo ID).

Already a BNZ customer?

  1. You’ll only need to bring in your reference number and the funds.
  2. Done! We’ll send you an Investment Certificate.

Rates and fees

No establishment or management fees.

Investments help and support

If you need some help call 0800 275 269

Small Print

  1. Rates are subject to change with out notice. 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.

* Interest can only be paid at maturity.

** Interest payment options available (quarterly, six monthly, annually and at maturity).

*** Interest is paid monthly.