Popular rates & terms
PIE Term Deposits
A PIE Term Deposit could have tax advantages for you. Usually you’d pay your regular income tax on interest earned on term deposits, which could be up to 39%. With a PIE, the maximum tax you’ll pay on the return you earn is 28%. Returns are payable at maturity.
Effective rate*:
Effective rate*:
Effective rate*:
Effective rate*:
* This is the effective rate that applies if you pay tax at the top marginal rate. Find out more.
Interim interest
For terms one year or longer, you can choose to have your interest paid out as a lump sum at the end of your term or paid monthly, quarterly, six-monthly or annually into your bank account. A great way to generate regular return from your investment. Interim interest isn't available on the one year PIE Term Deposit.
Interest rates are subject to change. The above rates are valid for investments of $10,000 to $5 million. If you're investing more than $5 million, please contact us for rates.
How Term Deposits work
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Fixed interest rate for a fixed term
Enjoy a fixed return on terms ranging from 30 days to five years. Your interest rate is fixed for the length of the term you choose. For terms two years or longer, you can access up to 20% of your original deposit anytime, without paying a fee or losing any interest.
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PIE Term Deposits
A PIE Term Deposit could have tax advantages for you. With a PIE the maximum tax you'll pay on the return you earn is 28%.
Returns are payable at maturity and interim interest isn't available for PIE Term Deposits.
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Term Deposit investment and interest
Invest from $1,000 to $5 million. For investments above $5 million please contact us for rates.
Interim interest options are available for terms one year or longer. -
Breaking a Term Deposit
We have a simple break policy – just give us a call or visit us in branch. You'll have an interest penalty applied if you withdraw your money early.
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What it costs
There are no set up or monthly fees on our Term Deposits, but early termination charges may apply if you need to access your money before the maturity date.
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Self-manage your account
You're in control – you can open and manage your Term Deposit anytime and anywhere using internet banking or our mobile app.
Apply now
If you’re keen to build your nest egg with a Term Deposit, you can apply online.
Once your application is complete, our team will get in touch with you so make sure you have your:
- IRD number and the IRD number of any joint applicant(s)
- Prescribed Investor Rate (PIR) if you're applying for a PIE investment
- Confirmation of ID and proof of address. See more about acceptable forms of ID and proof of address.
If you're a business banking customer, please call 0800 601 601 or talk to a business banking specialist.
New to Kiwibank or want to talk through options?
No problem, the easiest way to apply is to complete our form and an investment specialist will call you.
Apply nowAlready a Kiwibank customer?
Log in to Internet Banking and go to Apply & Open to make it happen.
Log in to Internet BankingIn branch
You can also visit one of our branches whether you're new to Kiwibank or already a Kiwibank customer.
Find my nearest KiwibankWhen your Term Deposit matures
When the term is up, you can set it up so your original deposit and the interest you’ve earned is automatically reinvested, or you can have it all paid out into your chosen bank account. If you haven't already set your interest to pay out during the term, you can change your instructions about what you'd like to do in internet banking or the mobile app.
- Select the Term Deposit on the 'Accounts' page
- Select 'Change' next to Maturity details
- You'll have the following options:
- change to pay out the interest at maturity to a New Zealand dollar bank account
- change to pay out the full Term Deposit at maturity to a New Zealand dollar bank account
- reinvest the Term Deposit with or without the interest previous terms interest by choosing the term you want to reinvest it at.
If you choose to reinvest at maturity, the Term Deposit will reinvest for the selected term at the rate on the day of maturity.
- Select the Term Deposit on the 'Accounts' page
- Click the 'Detail' tab
- Select 'Change maturity details'
- You'll have the following options:
- change to pay out the interest at maturity to a New Zealand dollar bank account
- change to pay out the full Term Deposit at maturity to a New Zealand dollar bank account
- reinvest the Term Deposit with or without the interest previous terms interest by choosing the term you want to reinvest it at.
If you choose to reinvest at maturity, the Term Deposit will reinvest for the selected term at the rate on the day of maturity.
If your Term Deposit has reinvested and you want to make changes, you have up to five business days to do this from the date it was reinvested. You can still update your maturity instructions in internet banking or the mobile app, however you'll need to contact us by sending a SecureMail in internet banking or the mobile app, giving us a call on 0800 113 355 or visit your nearest Kiwibank for any other changes, including:
- changing the term the Term Deposit has reinvested for, or
- changing the amount invested.
Is a Term Deposit right for you?
A Term Deposit offers a fixed return for a set period. However, you should consider if you’ll need your money before the maturity date as break penalties may apply. If you think you'll need the money early, one of our savings accounts may be more suitable.
PIE Term Deposit
It works the same as a standard Term Deposit, but it could have tax advantages for you. Usually you’d pay your regular income tax on interest earned on savings accounts, which could be up to 39%. With a PIE, the maximum tax you’ll pay on the returns you earn is 28% – meaning you could keep more of your return in your pocket.
Other options you may be interested in
Standard terms and conditions
Interest rates are subject to change.
Units in the Kiwibank PIE Term Deposit Fund are distributed by Kiwibank and are issued by Kiwibank Investment Management Limited. See all investments terms and conditions or pick up copies from your nearest Kiwibank.
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.
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