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Negara / 🇳🇿 New Zealand

Best term deposit rates in New Zealand

NZD term deposit rates from 7 providers, read directly from each bank's website every day, plus 0 more providers to check. Sorted by rate; no paid rankings.

Last checked 18 Oct 2026, 05:37 UTC · all 7 providers · savings account

Best 3-month rate

3.20% p.a.

Rabobank New Zealand

Board rate · min NZ$1,000

Best 6-month rate

3.70% p.a.

Rabobank New Zealand

Board rate · min NZ$1,000

Best 12-month rate

4.15% p.a.

Rabobank New Zealand

Board rate · min NZ$1,000

Best rate for a NZ$10,000 deposit, open to any customer. Promotions can end early; confirm with the bank.

Bandingkan kadar term deposit

Tenure
Rate type
Options

7 bank dengan kadar 12‑bulan untuk NZ$10,000

BankRate p.a.TenureDepositDetailsLink
Rabobank New ZealandTerm Deposit4.15%≈ NZ$415 in 12 months12 monthsNZ$1,000 +Board rate
Personal accounts (individual, joint, children); Interest at maturity (up to 18 months) or annually (2-5 years)
Go to bank
Bank of New Zealand (BNZ)Term Deposit4.05%≈ NZ$405 in 12 months12 monthsNZ$2,000 – NZ$5,000,000Board rate
$2,000 - $5 million (from the page's headline rate cards)
Go to bank
Heartland BankTerm Deposit4.05%≈ NZ$405 in 12 months12 monthsNot statedBoard rate
Minimum deposit not stated on the rates page; Interest on maturity (up to 3 months) or 3-monthly
Go to bank
KiwibankTerm Deposit4.05%≈ NZ$405 in 12 months12 monthsNZ$1,000 – NZ$5,000,000Board rate
Minimum balance $1,000 ($5,000 for 30 and 60 days); Up to $5 million
Go to bank
ANZ Bank New ZealandTerm Deposit4.00%≈ NZ$400 in 12 months12 monthsNZ$10,000 +Board rate
For amounts of $10,000 or more
Go to bank
ASB BankTerm Deposit4.00%≈ NZ$400 in 12 months12 monthsNZ$5,000 +Board rate
Minimum investment $5,000; Not available to financial institutions or where total ASB term investments exceed $10 million
Go to bank
Westpac New ZealandTerm Deposit4.00%≈ NZ$400 in 12 months12 monthsNZ$5,000 – NZ$5,000,000Board rate
$5,000 - $5,000,000; Rates for customers holding up to $5,000,000 in total deposits
Go to bank

"Fresh funds" means money brought in from another bank. Board rates are standing rates; promos are time-limited. How we collect and check rates.

How is this list ordered?

By rate, highest first, for the amount and term you chose. Where a bank publishes its own blended effective rate we use that. Each bank appears once with its best matching offer unless you tick "Show every rate". Banks cannot pay to change the order.

Plan your deposit

Best rate by term

1 months: 2.00% at Rabobank New Zealand2.00%1-month2 months: 2.00% at ASB Bank2.00%2-month3 months: 3.20% at Rabobank New Zealand3.20%3-month4 months: 3.10% at Heartland Bank3.10%4-month6 months: 3.70% at Rabobank New Zealand3.70%6-month9 months: 3.85% at Rabobank New Zealand3.85%9-month12 months: 4.15% at Rabobank New Zealand4.15%12-month18 months: 4.30% at ASB Bank4.30%18-month24 months: 4.45% at Rabobank New Zealand4.45%24-month36 months: 4.70% at Rabobank New Zealand4.70%36-month

Best rate open to any customer for NZ$10,000 at each term, from today's verified offers. Hover a point for the bank.

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Official benchmarks

RBNZ official cash rate (OCR) 02 Sep 20262.75%

Source: rbnz.govt.nz. Shown as a reference point, not a recommendation.

Deposit protection: Depositor Compensation Scheme (DCS)

LimitNZ$100,000

In force since 1 July 2025: if a New Zealand licensed deposit taker fails, the DCS compensates depositors up to $100,000 per depositor, per deposit taker, for money held in DCS-covered accounts. Source, checked 2026-10-18.

Where does your money earn most in New Zealand?

Best 12-month term deposit (Rabobank New Zealand)4.15%
Best savings account (Rabobank New Zealand)2.65%
RBNZ official cash rate (OCR)2.75%

Best 12-month deposit and best savings rate open to any customer, next to the official benchmark. Savings rates are variable and often conditional.

Questions about deposits in New Zealand

What is the best 12-month term deposit rate in New Zealand today?

4.15% p.a. at Rabobank New Zealand (minimum deposit: NZ$1,000), read from the bank's website at 18 Oct 2026, 05:37 UTC. Promotions change often, so confirm with the bank before you deposit.

What is the best 6-month term deposit rate in New Zealand today?

3.70% p.a. at Rabobank New Zealand (minimum deposit: NZ$1,000), read from the bank's website at 18 Oct 2026, 05:37 UTC. Promotions change often, so confirm with the bank before you deposit.

Are term deposits in New Zealand protected?

In force since 1 July 2025: if a New Zealand licensed deposit taker fails, the DCS compensates depositors up to $100,000 per depositor, per deposit taker, for money held in DCS-covered accounts.

How many banks do you compare in New Zealand?

We list 7 providers. Rates for 7 of them are read automatically from their own websites every day; for the rest we link to the bank's official rate page and never show a number we have not read.

How do term deposit rates compare with the RBNZ official cash rate (OCR)?

The RBNZ official cash rate (OCR) is 2.75% (02 Sep 2026). The best 12-month term deposit rate open to any customer today is 4.15%.

Deposit rates in nearby countries

🇦🇺 Australia

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We're a comparison service, not a bank: we don't take deposits. Rates change without notice; verify with the bank before you deposit. Not financial advice.