Reinvesting the full amount of your term deposit at maturity in the BNZ app
When you’re more than 14 days away from your maturity date, you can set up to reinvest, or choose to be paid out the full amount at maturity. If you’re setting up to reinvest, you’ll be able to select a term but you won’t see the interest rates yet^.
You also have the flexibility to come back and change what happens at maturity as often as you like, right up to the business day before your term deposit matures.
How to reinvest at maturity
- Log in to the BNZ app.
- Select your term deposit account.
- Select Change what happens at maturity.
- Read the Before you begin information, and select Next.
- Select Reinvest.
- Select Edit (the button you’ll see if your term deposit has already been set up to reinvest).
- Select Set up your next term (the button you’ll see if your term deposit has been set up to be paid out to your account at maturity).
- Choose a reinvestment term, and select Next.
- Depending on the term you’ve selected, you might now have the option to choose how you’d like your interest to be paid, and the frequency of those interest payments.
- If you choose Add to term deposit, use the Frequency drop-down menu to select how often you would like your interest payments to be added.
- If you choose Pay out to account, use the Account drop-down menu to select which account to have the interest paid into, and then select the frequency of those payments, and select Next.
- Review the reinvestment details and select Save.