FAQs & Deposit Interest Rates

90 days’ notice

4.15% p.a.

Minimum balance $2,000
90 days’ notice

32 days’ notice

4.00% p.a.

Minimum balance $2,000
32 days’ notice

Notice Saver

Kiwibank’s Notice Saver is a New Zealand first - it gives you better returns than a savings account, without your funds being locked away.

You can add money to your investment whenever you like, then just give us notice when you need to withdraw some or all of it.

  • Deposit money any time
  • No set term – withdraw money by giving 32 days’ or 90 days’ notice. You choose the notice period when you set up your Notice Saver
  • Choose to have your returns either compounding or paid out monthly
  • PIE compliant so you can benefit from greater after-tax returns, if you pay tax at 30% or 33%.
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It’s a brand new way to save

Compare to Term Deposits & Savings Accounts - Notice Saver

FAQs

  • How does Notice Saver work?

    Notice Saver is like a cross between an on call account and a term deposit. You can add money whenever you like, but you can’t instantly withdraw it - instead you have to give 32 days’ or 90 days’ notice. This condition means you earn a higher rate of return than a standard on call account.

  • Are there other accounts like this in New Zealand?

    No, this is a New Zealand first. However, notice accounts are common throughout the UK, US, and South Africa.

  • How do I apply for a Notice Saver account?

    If you already bank with Kiwibank, you can apply immediately through our secure internet banking or you can apply online and your Notice Saver will be opened on the next business day. You can also visit your local Kiwibank or complete the application form which is found in the pdfInvestment Statement for Notice Saver (PDF 268 KB).

    You must read the pdfInvestment Statement for Notice Saver (PDF 268 KB) before Kiwibank can open your Notice Saver.

  • What is the minimum investment to open a Notice Saver?

    $2,000.

  • What is the maximum I can invest in Notice Saver?

    The sum of your investment in Notice Saver, across all notice periods, must not be more than $5 million.

  • If I have a joint account, which tax rate will apply?

    The highest PIR tax rate will be applied regardless of which party is the “primary” account holder.

  • How do I add more money to my Notice Saver?

    You can add money any time via internet banking, phone banking, or by making a cash or cheque deposit at your local Kiwibank.

  • How do I give notice to make withdrawals from my Notice Saver?

    If you use internet banking, just log in and click the ‘give notice’ link, and the money will be transferred to your nominated account 32 days or 90 days later, depending on your notice period (unless that’s a weekend or public holiday, in which case it’ll be there on the next business day).

    Otherwise just give us a call on 0800 11 33 55 and we’ll set up the notice withdrawal for you.

  • Can I withdraw money without giving notice?

    In exceptional circumstances where you need some or all of your money immediately, just talk to us and we may agree to an immediate withdrawal. However, there’s an immediate withdrawl charge for doing this - see the pdfInvestment Statement (PDF 268 KB) for more detail.

  • When I give notice, is there a minimum amount I have to withdraw?

    No, you can withdraw as much or as little as you like.

  • What if my balance drops below $2,000?

    Your Notice Saver will stay active with a balance under $2,000, but it won’t earn a return until it has more than $2,000 again.

  • Am I guaranteed a rate of return?

    Kiwibank Notice Saver will always have a rate of return that is greater than the advertised Kiwibank Online Call rates. However, the rate of return for Kiwibank Notice Saver is not fixed.

  • Is my rate of return fixed for a time period?

    No. Like traditional savings and on call accounts, the return you earn is subject to change without notice.

  • Is there a maturity event or rollover date?

    No. Unlike a term deposit, there’s no term. Just remember to give notice for each withdrawal.

  • Is Notice Saver PIE compliant?

    Yes. Returns earned on a Notice Saver will be taxed at a maximum of 28%.

  • Can Notice Saver provide me with a regular income stream?

    Yes. You can choose whether to have your return paid back into your Notice Saver (compounded) or to have it paid out to your nominated account monthly.

  • Can I link my Online Call account to my Notice Saver?

    No. An Online Call account, PIE Online Call or another Notice Saver can't be made the nominated account for a Notice Saver.

  • How do I change my nominated account?

    Complete the pdfChange your nominated account form (PDF 51 KB) and post it back to us with a copy of a recent bank statement for the new nominated account.

  • How old do I need to be to open a Notice Saver?

    18.

Kiwibank Notice Saver returns are not fixed. Kiwibank Notice Saver is a Portfolio Investment Entity (PIE). Units in Kiwibank PIE Online Call Fund, Kiwibank PIE Term Deposit Fund and Kiwibank Notice Saver are distributed by Kiwibank Limited and are issued by Kiwibank Investment Management Limited. Download the pdfInvestment Statement for Kiwibank PIE Online Call Fund, Kiwibank PIE Term Deposit Fund and Kiwibank Notice Saver (PDF 268 KB) or pick up a copy from your local Kiwibank. Download pdfKiwibank’s Investment Statement for Term Deposits (PDF 847 KB) or pick up a copy from your local Kiwibank.

A copy of the Kiwibank PIE Unit Trust Prospectus, which was registered on 13 December 2012, can be found at www.business.govt.nz/companies under "Kiwibank Investment Management Limited – Documents".