See what questions customers have asked us about investments.

Q. My term deposit is maturing. I normally go to a branch to reinvest it, are there other ways to do it?"

A. There are other ways to manage your Term Deposit reinvestment. You can use our mobile app, internet banking, or if you‘d prefer to chat please give us a call on 0800 11 33 55.

All our branches have returned to normal trading hours. See the latest updates on our branches.

Q. Can I get access to my term deposit before the term finishes?"

A. We realise that sometimes you might need to access some or all of your money from a Term Deposit or PIE Term Deposit before the term is up. See how you can break your term deposit.

If you’d like to go ahead with breaking your Term Deposit, please call 0800 11 33 55 to discuss your individual situation.

Q. What are your current Term Deposit interest rates?"

A. See our latest Term Deposit rates.

Q. Is it possible to withdraw funds from my Notice Saver account without giving the required notice?"

A. Yes, you can. In some circumstances, you can access your funds earlier than the set notice period, which is usually 32 to 90 days. To find out how we can help, please complete our personal support form.

Q. I normally ring a few days beforehand to manage my term deposit but I haven’t been able to get through, what can I do?"

A. The situation with COVID-19 means our contact centres are experiencing an extremely high volume of calls. At the moment, you have up to seven days after the maturity of your term deposit to make changes with no penalty. We’re here to help, so please try to call again. If you’re a business customer and have a business manager, you can talk to them directly.

Q. I see Notice Saver has a variable rate that can change. Can I transfer my money to a term deposit to get a fixed rate?"

A. Yes, you can. This is easily done through internet banking or on our mobile app. Simply choose to open a Term Deposit and then select the Notice Saver account you want to transfer the funds from. There is no notice period or charge to do this.

Q. What are PIE investments and are they better than standard investments?"

A. Kiwibank offers a PIE Term Deposit option (up to 1 year term) and our Notice Saver is a PIE. Portfolio Investment Entity (PIE) investments use a prescribed investor rate (PIR) tax rate that can provide a tax benefit to you depending on your income level. Our PIE products are overseen by an independent supervisor.

Find out more about PIE funds

Q. We currently don't bank with you and are wanting to open a new investment account for our family trust – is that possible during the COVID-19 pandemic?"

A. Yes, it's possible. However, as a new trust customer, you'll need to visit a branch to open an investment account.

All our branches have returned to normal trading hours. See the latest updates on our branches.

Q. Up to about six months ago, I was able to make a term deposit with Kiwibank with a mininum deposit of $1,000. Do we see that as a possibility again in the foreseeable future?"

A. There have been no changes to the minimum investment amount required to open a Kiwibank Term Deposit. However, we only offer our special rates for investments of at least $10,000. Currently term deposits that are between $1,000 and $4,999 can only earn up to 2.00% p.a. (rate correct as at 21 April 2020).

Q. How can I find the current balance of my term deposit?"

A. You can see the balances of your Term Deposits in both internet banking and the mobile app. Alternatively, if you don't have either of these set up give us a call on 0800 113 355 and we can let you know the balance of any of your current Term Deposits

Q. Can I open a new term deposit during the COVID-19 pandemic?"

A. Once you’re a Kiwibank customer, you can simply use internet banking or our mobile app to open a new term deposit.

New customers can apply using our online application form. Once we’ve reviewed it, we’ll give you a call to discuss in more detail. We’ll need to see some identification, so please make sure you have two of the following:

  • Current New Zealand passport
  • Current New Zealand driver's licence
  • New Zealand birth certificate (issued affter 1998)

We also need your IRD number and proof of address to open an account for you. If you own a home or car, or are named on your power bill, then we can do this over the phone, otherwise you'll need to visit a branch. All our branches have returned to normal trading hours. See the latest updates on our branches.

Q. What does 'standard rate' mean, as in 'reinvest at the standard rate'?"

A. Standard rate, in relation to Term Deposits, refers to our current advertised Term Deposit rates. So, when you reinvest at the standard rate, your Term Deposit is reinvested at the current advertised rate, for the term you've instructed us to reinvest your Term Deposit for.

Q. How do I find my PIE and RWT statements online?"

A. Unfortunately, we don't currently provide RWT and PIE tax statements online.

If you’ve earned more than $50 interest in the last tax year, you should've received a tax certificate in the post. It would've been sent to the address we hold on file for you as at the end of March 2020. The expected mailing date was 29 April 2020.

Q. How can I transfer my term deposit to another bank?

A. The easiest way to do this is by updating your maturity instructions within internet banking or our mobile app, so it pays the principal and interest to an external account.

When your term deposit matures, the funds will be automatically transferred to the account number at the other bank that you've provided.

Q. I've received my withholding tax certificate for our investment and noticed that it's not a joint account. How can I update this?

A. Updating your investment to a joint account requires a change to the account name on that account. To do this, please get in touch by sending us a secure mail or call us on 0800 113 355.

Q. Do you price match interest rates of Notice Savers?"

A. No we don't. The rates we offer on our Notice Saver accounts are listed on our interest rates page and are the same for all customers.

Keep informed with other FAQs