Term Deposits

A few of our current rates

The above rates are minimum investment $10,000, interest at maturity.

More Term Deposit rates

How it works

• 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 704.6 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.

When the term is up

Choose to:

• 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).

More about early withdrawals