Term deposits

Lock in an interest rate for a fixed amount of time with the aim of growing your money.

See interest rates and termsOpen a term deposit

Featured term deposit rates

Special interest rates are available in Internet Banking and the BNZ app, for selected terms. You’ll need to have an individual or joint account with us.
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180 days$2,000 - $5 million
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270 days $2,000 - $5 million
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1 year$2,000 - $5 million
See all rates and terms
Open a term deposit

Key features and benefits

Invest from $2,000 to $5 million

With a minimum amount of $2,000 and maximum of $5 million, you can invest an amount that suits your financial plan.

Pick a term that suits

You decide the length of your investment term to suit your savings goals, from 7 days to 5 years.

Special interest rates

You can open a term deposit and view special interest rates in Internet Banking or the BNZ app . These rates are available for selected terms only. 

Interest payments options

Depending on the type and term of your deposit, you can choose to have your interest paid monthly or at the end of the term.

Compounding interest

For money invested for 60 days or more, you can choose to keep your returns invested, so you’ll be earning interest on interest.

Manage online

Use the convenience and security of Internet Banking or the BNZ app, to open, reinvest, or change what happens to your term deposit at maturity.

Securely locked away

When you open a term deposit, we lock away your money for the duration of your term. If you need to access it early, you may be able to make an early withdrawal.

How BNZ customers open a term deposit

If you plan to use money that’s currently with another bank, you’ll need to transfer the money to your BNZ account before you can open your term deposit in Internet Banking.

 

BNZ app

Log in to the BNZ app and tap the menu icon (three horizontal lines in the top left corner). Select Apply now, then select Open a term deposit, and fill in your details.

 

How to open a term deposit if you’re not a customer

  1. Join BNZ by opening a YouMoney account online.
  2. Once your account is open, deposit your funds into your new account.
  3. Log in to mobile or Internet Banking, select Apply Now from the menu, then select Open a term deposit and fill in your details.

Otherwise, you can request to open a term deposit by filling in your details on our online application form and we’ll get back to you to let you know the next steps. If you need help setting up a term deposit, you can call us on  0800 275 269

How to open a term deposit for a trust

If you’re a trustee and would like to open a term deposit for a trust, give us a call on 0800 275 269 or +64 4 931 8209 from overseas (international toll charges apply).

Other savings and investment options

Managed funds

Access or top up your investment when you need with the flexibility of a YouWealth account.

More about YouWealth

Savings account

Earn interest on every dollar in your Rapid Save account, no matter what your balance.

More about Rapid Save

Term PIE

A fixed-term investment that works like a term deposit, with the potential to pay less tax.

More about Term PIE
Small Print

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

  1. Rates are subject to change. Account opening criteria apply. Details, Standard Terms and Conditions (which include terms and conditions for Term Deposits) may also be obtained free at any BNZ branch.

  2. Applies to individual and joint account owners only.

Internet Banking terms and conditions apply