Website: http://www.asb.co.nz

Authority: ASB Bank is one New Zealand's major commercial banks and a registered bank under section 69 of the Reserve Bank of New Zealand Act 1989. Opening in 1847, it is NZ's first savings bank and it is part of the ASB group of companies which is a wholly owned subsidiary of the Commonwealth Bank of Australia Group

How to open a ASB Term Deposit:

- You can contact them by telephone on NZ number: 0800 650 506

- You can visit one of ASB 135 branches nationwide. You can find the nearest branch by visiting their website.

Information on ASB 1 Year Term Deposit Rates:

While terms may vary from 30 days to 5 years, a 12 month/1 year term is generally considered to be a short term investment. This short term investment in a 1 year term deposit at ASB provides a fixed interest rate return on your savings or available cash. 

A highly influenced factor to this rate is the affect of the Official Cash Rate (OCR) in New Zealand set by Reserve Bank of New Zealand. The RBNZ can set this rate to meet inflation targets which can be affected by price stability CPI of the NZ economy. ASB forecasts these rates into the future forecasting where OCR will be in the future and adjusts its term deposit interest rates accordingly. In conjunction with RBNZ, other factors do include ASB's business model (spreads on loans), capital and regulation requirements, risk and banking services costs (maintaining physical branches vs online only banks).

The current rate displayed below is for a 12 month term for amounts $10,000+