Key features & benefits
Rates of return are subject to change.
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No account management or transaction fees
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Add money whenever you like and leave it in your account for as long as you like
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Make a withdrawal by giving either 32 or 90 days’ notice
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Notice Saver is a PIE investment.
How it works
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Notice period
When you open an account, you'll choose either a 32 or 90 days' notice option. This is how long your funds take to be transferred after you've given notice. It works just like a normal transfer between your accounts except it takes 32 or 90 days.
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Keep saving
You can add money to your Notice Saver account whenever you like and can transfer money in from any other Kiwibank account using internet or mobile banking.
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Eligibility
To open a Notice Saver account with us, the director of the company must be a New Zealand citizen or reside in New Zealand.
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Withdrawals
There’s no set investment period – you just need to give us the agreed amount of notice (32 or 90 days) when you want to withdraw your money.
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How returns are paid
Choose to have your returns paid back into your Notice Saver (compounding) or paid monthly to your nominated account.
Notice periods & withdrawals
Giving notice
To give notice, you can log in to internet banking for business or our mobile app, and set up a transfer. You can choose any available amount to transfer and you can have multiple transfers on the go. You'll also earn the Notice Saver rate of return right until your money leaves the account. Alternatively, you can also give us a call.
Once you’ve given notice, you’ll need to wait either 32 or 90 days, depending on which option you chose when you opened your account.
Your nominated account
When you make a withdrawal you can take out all of your money, or just some of it. When your funds are transferred, they go into an account that you nominate at the time your Notice Saver is opened. This can be any New Zealand bank account. If you want to change your nominated account and to help protect your funds, please complete a Notice Saver account change advice (PDF 31.3Â KB).
Withdrawing money early
When you request an immediate withdrawal of part or all of your money from Notice Saver without giving the required notice, you'll be charged an immediate withdrawal charge. The amount of the charge varies depending on the amount being withdrawn, the current rate of return for your Notice Saver and the length of the required notice period.
If your application is approved the Immediate Withdrawal Charge applies (which is a reduction against the return earned).
This is based on the following calculations:
Immediate withdrawal charge = funds to be withdrawn x (Notice Saver rate of return ÷ 365) x Notice Period days (32 or 90).
Example 1: You’ve invested $50,000 in a Notice Saver with a 32-day notice period at 2.25% p.a. If you have had the money in the account for 50 days, your Immediate Withdrawal Charge would be: return earned on $50,000 over the last 32 days x 2.25% p.a. = $98.63 (before tax).
Example 2: You’ve invested $50,000 in a Notice Saver with a 32-day notice period at 2.25% per annum, but your money has only been in the account for seven days. Your Immediate Withdrawal Charge would be: return earned on $50,000 over the last 7 days @ 2.25% p.a. = $21.58 (before tax).
The charges are capped, so your initial contributions won’t be reduced.
Is a Notice Saver account right for your business?
Notice Saver enables you to regularly build your savings. However you should consider if you’ll need your money before your notice period is satisfied as break penalties may apply. One of our other savings accounts may be more suitable if you do.
Talk to us
If you’re keen to build up your reserves with a Business Notice Saver account, get in touch with our business banking team and they'll get it sorted.
Find a business banking specialist
Find a business banking specialist in your area. Request a call back, or call them directly.
Find a business bankerCall us
Call our business banking team on 0800 601 601, or +64 4 803 1646 if you’re calling from overseas.
Mon – Fri: 8am – 5pm.
Other accounts you might be interested in
Standard terms and conditions
Interest rates are subject to change. The rate of return for Notice Saver can change at any time and without notice. This means the rate might go up or down during your investment.
Units in Kiwibank Notice Saver are issued by Kiwibank Investment Management Limited and are distributed by Kiwibank Limited. See our Notice Saver Fund Terms and Conditions (PDF 186.4Â KB) or a pick up copy from your nearest Kiwibank. Notice Saver is a fund within a Portfolio Investment Entity (PIE).
This communication contains general information only and not investment or tax advice, and as such you shouldn't rely on it as the sole basis for any financial decision. Potential investors should seek professional advice as to whether an investment is right for them, including the taxation implications of such an investment.