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.
- 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 $5,000 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.
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
You could choose how you receive your returns: monthly, quarterly, six-monthly, annually, or at maturity — or reinvest.
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.
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 Cash PIE and BNZ Term PIE Terms and Conditions PDF 200KB, complete and sign the application form PDF155KB, and bring it with you to one of our stores. You can also call us on 0800 275 269.
Investments help and support
Term Deposits rates are available only for the first $5,000,000 of total deposits you hold with BNZ.
Rates are subject to change without notice.
BNZ Term PIE is 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 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.
You can ask to withdraw all or part of your funds prior to the maturity date of your account:
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, an early break fee might apply. Please refer to the BNZ Cash PIE and BNZ Term PIE Terms and Conditions PDF 200KB for details. If the last day of the 31-day notice period in a) above falls on a non-business day, the amount being withdrawn will be paid the next business day.
The maximum deposit acceptable is $10 million.
^ Rates are subject to change without notice.
* Returns are paid at maturity.
** Returns can be paid monthly, quarterly, six monthly, annually or at maturity.
To obtain a copy of the Governing Document or other documents relating to the BNZ Cash PIE and BNZ Term PIE, you can contact us by:
- calling 0800 275 269
- emailing firstname.lastname@example.org or
- writing to Level 9, 80 Queen Street, Private Bag 92208, Auckland, 1142.
Our BNZ Cash PIE and BNZ Term PIE Terms and Conditions may also be obtained from any BNZ store.
BNZ Authorised Financial Advisers’ disclosure statements are available on request and free of charge.