Notice Saver

A Notice Saver account is a flexible business savings account that earns a good rate of return. You can add money whenever you like, to make a withdraw give either 32 or 90 days' notice. This is reaching your savings goals faster.
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  • No account management or transaction fees

  • Add money whenever you like and leave it in your account for as long as you like

  • Make a withdrawal by giving either 32 or 90 days’ notice

  • Notice Saver is a PIE investment.

How it works

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.

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 The amount of the charge varies depending on the amount being withdrawn, the current rate of return for your Notice Saver and the length of the required notice period.

Calculating the immediate withdrawal charge

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Immediate withdrawal charge = funds to be withdrawn x (Notice Saver rate of return ÷ 365) x Notice Period days (32 or 90).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.

Talk to a business banking specialist

Complete our online form and one of business banking specialists will get back to you within one to three working days.

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Call 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.

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