NZ Term Deposit Rates

Within New Zealand and similar to Australia, fixed term saving instruments issued by banks are called term deposits. Conversely this differs to other countries around the world such as China (time deposits), United States (certificate of deposit or CDs), fixed rate bonds in the UK and GICs within Canada.

In NZ and similar to other countries, this product type provides individuals with an investment opportunity to lock in a fixed interest rate of return of their funds for an upfront agreed period which makes their funds illiquid or unavailable for that term. Penalties of interest may be applicable if you withdraw before the agreed maturity.

NZ banks rates for deposits may rise and fall depending on a number of economic factors including the cash rate set by the RBNZ.

Highest Interest Rates by Term Deposit Account Product in New Zealand

Deposit Account Term APY
BNZ 1 Year Term Deposit1 year4.40% Feb, 2015
ASB 1 Year Term Deposit1 year4.40% Feb, 2015
ANZ 1 Year Term Deposit1 year4.30% Feb, 2015
Westpac NZ 1 Year Term Deposit1 year4.20% Mar, 2015
ASB 6 Month Term Deposit6 month4.15% Feb, 2015
BNZ 6 Month Term Deposit6 month4.10% Feb, 2015
ANZ 6 Month Term Deposit6 month4.10% Feb, 2015
BNZ 3 Month Term Deposit3 month3.50% Feb, 2015
ASB 3 Month Term Deposit3 month3.50% Feb, 2015
ANZ 3 Month Term Deposit3 month3.50% Feb, 2015
ANZ 1 Month Term Deposit1 month3.00% Feb, 2015
BNZ USD 3 Month Term Deposit3 month0.20% Feb, 2015