Term PIE

The tax-smart, 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.

% p.a. 5-year Term PIE interest rate^
  • Pick a term that suits you
  • Choose when your returns are paid
  • No entry, exit or management fees

How it works

BNZ Term PIE^ is a managed investment scheme that works in a similar way to a term deposit. It gives you a fixed rate of return for investments of $2,000 or more over a fixed period of time and you can choose how you want your returns paid to you.

An advantage of investing with BNZ Term PIE is that you may get a tax benefit from holding your savings in a portfolio investment entity (PIE).

Returns are maximised because tax is minimised

BNZ Term PIE has special tax rules. Under current legislation, your share of BNZ Term PIE taxable income is taxed at your prescribed investor rate (PIR) up to a maximum rate of 28% for most investors. So if you currently pay income tax at the top rates of 30% or 33% you’ll pay less tax on your PIE returns. If you’ve just returned to the workforce, your PIR might be lower, so you could pay even less than 28% on your investment.

Read more about PIEs and PIRs

Why choose BNZ Term PIE?

Get better returns

Term PIE’s potential tax advantages mean that your post-tax returns could be higher than those from a standard term deposit.

Pick a term that suits you

You decide how long your investment lasts, from 30 days to five years.^

Choose when returns are paid

Depending on the term of your deposit, you can choose to have your interest paid monthly, quarterly, six monthly, annually, or at maturity.

No management fees

Pay no establishment or management fees on your Term PIE account.^


Use the convenience of Internet Banking to see how your investment is doing.

Get a fixed rate of return

Enjoy the certainty of a fixed rate of return on investments of $2,000 or more.^

Is Term PIE right for you? 

Term PIE could suit you if:

  • you pay income tax at the top rates of 30% or 33%
  • you’ve returned to the workforce after an absence of at least two years. That’s because your PIR is based on your taxable income in either of the last two income years
  • you’ve had an increase in salary and, as a result, you’re now paying a higher rate of income tax
  • you’re a trust with a trustee tax rate of 33%, or a trust beneficiary on a 30% or 33% income tax rate.

See examples of how a PIE investment could work for you

Compare returns between term deposits and Term PIE

Got a question?

You can ask us questions about Term PIE by clicking on the ‘Enquire online’ button at the top of the page.

Ready to invest?

If you’re ready to invest, you simply need to read and understand the BNZ Term PIE Terms and Conditions PDF 162KB, complete and sign the application form in the Terms and Conditions, and bring it with you to one of our branches. You can also call us on 0800 275 269.

Current BNZ Term PIE rates of return (%p.a.)^