If you like the idea of a steady, reliable way to grow your savings, have a look at our Term Deposits. Lock in a competitive interest rate for a fixed term – anywhere from 30 days to five years.

Popular rates and 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 33%. With a PIE, the maximum tax you’ll pay on the return you earn is 28%. Returns are payable at maturity.

120 days
Current rate:
Effective rate*:
6 months
Current rate:
Effective rate*:
200 days
Current rate:
Effective rate*:
1 year
Current 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 longer than a year, 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 income from your investment.

1 year
2 years
3 years
4 years
5 years

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

Apply now

If you’re keen to build your nest egg with a Term Deposit, you can apply online.

New to Kiwibank or want to talk through options?

No problem, the easiest way to apply is to complete our form and an investment expert will call you.

Apply now

Already a Kiwibank customer?

Log in to Internet Banking and go to Apply & Open to make it happen.

Log in to Internet Banking

In branch

You can also visit one of our branches whether you're new to Kiwibank or already a Kiwibank customer.

Find my nearest Kiwibank

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
  • Passport and/or driver licence to verify your identity and your address.

If you're a business banking customer, please call 0800 601 601 or talk to our business banking managers.

About the terms

  • For a Term Deposit of two years or longer, you can access up to 20% of your deposit anytime, without paying a fee or losing any interest.
  • When your 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. You can change your instructions about what you want to do during the term if you need to.  

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 33%. 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

Savings

Earn good returns and have immediate access to your funds.

Interest rates are subject to change.

Savings

Add money whenever you like, give notice to make a withdrawal.

Rates of return are subject to change.

Savings

Earn higher interest if you add at least $20 each month and don’t dip into your account.

Interest rates are subject to change.