A few of our current rates
The above rates are minimum investment $10,000, interest at maturity.
How it works
- Interest rates may get better the more you invest and the longer you invest for.
- Terms from 30 days to five years for amounts from $1,000 to $5 million.
- PIE option available.
- The interest rate you earn is based on how much you invest and how long you invest for.
- You can’t add money once the term has started, and you get less interest if you need to withdraw the money early and no interest if you withdraw in the first 30 days.
- See our current Term Deposit rates.
Setting up your Term Deposit
- You can invest any amount between $1,000 and $5 million.
- Your rate is locked in for the length of the term.
- You can’t add money once the term starts, or withdraw before the end of the term without incurring a fee.
- You’ll earn less interest if you need to withdraw the money early and no interest if you withdraw in the first 30 days.
By investing in a Term Deposit, you agree and are bound by Kiwibank’s General Terms and Conditions (PDF 279.7 KB).
For terms longer than a year
Choose to have your interest paid:
- as a lump sum at the end of your term
- monthly or quarterly into your bank account.
For terms longer than two years
- Access up to 20% of your deposit anytime, without paying a fee or losing any interest.
A bigger slice of the PIE
If you pay 30 or 33% tax on your income (you earn over $48,000 a year) and you’ve got $10,000 or more to invest, only want to invest for up to one year and want your interest at maturity, choose the PIE Term Deposit option when you open your account.
PIE Term Deposits work just like standard Term Deposits, but you’ll only pay 28% tax on the interest you earn (so you pay less tax if your income tax rate is 30% or 33%), keeping more of your return in your pocket.
When the term is up
- reinvest your original deposit and the interest it earned
- have it all paid out into your bank account.
You can change this during the term if you need to.
Making an early withdrawal
If you need your money before your term is up:
- you'll have to make a formal application to break the deposit early, because you’re breaking the Term Deposit contract
- you won’t get any interest if you need to break the deposit in the first 30 days
- you’ll get a lower rate of interest if you break the deposit after the first 30 days — how much will depend on the rate on the date you invested or the date you withdraw (whichever is lower).
Units in the Kiwibank PIE Term Deposit Fund are distributed by Kiwibank and are issued by Kiwibank Investment Management Limited. Download the Kiwibank Term Deposit Terms and Conditions (PDF 40.1 KB) and Terms and Conditions for the PIE Term Deposit Fund (PDF 51.1 KB), or pick up a copy from your local Kiwibank.
This communication contains general information only and not investment or tax advice, and as such you should not 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 investing in an investment.