Save for your goals with Rapid Save

You’ll earn interest on every dollar in your Rapid Save account, no matter what your balance.

  • Earn Loading% interest p.a.
  • No monthly base fees
  • One free withdrawal per bank month

Keep your savings goals on track

Stick to your savings goals

You’ll earn interest on every dollar in your account, no matter what your balance . The more you can add to your savings, the  closer you’ll get to your savings goals. Learn how to set a savings goal in the BNZ app or in Internet Banking.

Help to resist temptation

You’ll get one free withdrawal every bank month. After that you’ll be charged $3 for each withdrawal which includes automatic payments, and transfers between your accounts.

Rates and fees

Benefits and rates

No monthly account fee.

Earn Loading% interest p.a..

One free withdrawal each bank month, after that each withdrawal costs $3.

Free account alerts.

Overdraft fees

Unarranged: $4 per month.
A grace period applies.

Unarranged overdraft interest rate: 13.70% p.a. + margin.

Arranged overdraft not available.

More about overdrafts

BNZ Internet Banking screen showing the add an account button

BNZ customers can open a Rapid Save account straightaway

If you’re already a BNZ customer and registered for Internet Banking, it’s easy to open a new Rapid Save account in Internet Banking or the BNZ app. Just log in, and click [+] Add an account, which appears alongside or below your existing accounts.

Tips for reaching your savings goals using Rapid Save

Set up a savings goal

Add a savings goal, load a personalised picture, and nickname your account to match what you’re saving for. No matter what your goal is, it’s much easier to stay on track with daily visual reminders. 

Automate your savings

Set up automatic payments in Internet Banking or the BNZ app so you can grow your savings and get closer to your savings goals.

Get alerts for withdrawals

Set up a push notification if you make a withdrawal from your Rapid Save account. Keep it top of mind that you can’t make another withdrawal within that same bank month without being charged a fee.

Rapid Save for small businesses

Put money aside in a Rapid Save account to help with tax payments, equipment purchases, or other future business expenses. Businesses with less than $2 million of total deposits are eligible for a Rapid Save account.

You could grow your money faster with a term deposit

If you won’t be using your savings for a while, you could consider a term deposit. This locks the money in an account for a set amount of time where it earns interest at a fixed interest rate. Depending on how long you set your term deposit for, this interest rate is usually better than the Rapid Save rate, so you get greater returns.

  • Fixed interest rate for the investment term.
  • No establishment or management fees.
  • Option to open and manage online.
  • Early withdrawals available for changes in circumstance.
  • Minimum investment of $2,000.
  • Terms from seven days to five years.
Small Print

Account opening and lending criteria, terms and fees apply. BNZ standard terms and conditions apply to all BNZ transaction and savings accounts. Details of our fees can be found in our Fees Guide. Rates and fees are subject to change.

  1. Interest and fees are calculated each day in a bank month. These amounts are then processed the day after the bank month ends.

  2. The Rapid Save rate is only available for:
    – personal customers with less than $5,000,000 of total deposits held with BNZ
    – businesses and trusts with less than $2,000,000 of total deposits held with BNZ.

    For amounts over the maximum value, visit us in branch or call 0800 275 269 to see how we can help.

  3. A “bank month” is different to a calendar month. Each one ends on the second to last business day of a calendar month, and the next bank month starts the following calendar day.

  4. Within each bank month the first withdrawal is free, and a $3 withdrawal fee applies to each withdrawal after that. A withdrawal includes transferring your money from your Rapid Save account to one of your other BNZ accounts. It does not include transferring money to a BNZ term deposit. If you ask us to change your account to a Rapid Save, this fee also applies to withdrawals on the day of switching, and any non-business days prior.

  5. The unarranged overdraft fee only applies when you don’t have an arranged overdraft in place and is payable monthly in arrears for overdrawn balances greater than $20. 

  6. The unarranged overdraft fee will not be applied if your account is no longer overdrawn by 11.45pm the following day. If you miss this window, the fee will be debited to your account on the day after the bank month ends. A "bank month" ends on the second to last business day of a calendar month, with the next one starting the following calendar day.

  7. If your account has an unarranged overdraft, interest at the Bank’s personal overdraft base rate plus 10% p.a. also applies to the debit balance, calculated daily and debited monthly. Unarranged overdraft fee may apply.

  8. Early withdrawals are subject to approval and deductions may apply to the interest payable.

  9. Term Deposits rates are available only for the first $5,000,000 of total deposits you hold with BNZ. Term PIE rates are available only for the first $10,000,000 of total deposits you hold with BNZ.