Business Notice Saver

A Business Notice Saver account is a flexible business savings account that earns a good rate of return. You can add money whenever you like, but to make a withdrawal you need to give either 32 or 90 days' notice.

Key features and benefits

  • 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

  • A minimum investment of $2,000 is needed to to earn returns

  • Notice Saver is a PIE investment.

Rates of return are subject to change.

How it works

Notice periods and 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 Business 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 31.3 KB).

Withdrawing money early

When you request an immediate withdrawal of part or all of your money from Business 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 The amount of the charge varies depending on the amount being withdrawn, the current rate of return for your Business Notice Saver and the length of the required notice period.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Immediate withdrawal charge = funds to be withdrawn x (Notice Saver rate of return ÷ 365) x Notice Period days (32 or 90).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?

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 satisifed 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 business 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 expert

Find a business banking expert in your area. Request a call back, or call them directly.

Find a business banker

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 – 6pm

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