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Best 12-month term deposit rates in New Zealand

Best 12-month rate per provider for a NZ$10,000 deposit, open to any customer, read from each bank's website. Last checked 18 Oct 2026, 03:42 UTC.

3-month 6-month All tenures and amounts

Bank	Rate p.a.	Tenure	Deposit	Details	Link
Rabobank New ZealandTerm Deposit	4.15%≈ NZ$415 in 12 months	12 months	NZ$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 Deposit	4.05%≈ NZ$405 in 12 months	12 months	NZ$2,000 – NZ$5,000,000	Board rate $2,000 - $5 million (from the page's headline rate cards)	Go to bank
Heartland BankTerm Deposit	4.05%≈ NZ$405 in 12 months	12 months	Not stated	Board rate Minimum deposit not stated on the rates page; Interest on maturity (up to 3 months) or 3-monthly	Go to bank
KiwibankTerm Deposit	4.05%≈ NZ$405 in 12 months	12 months	NZ$1,000 – NZ$5,000,000	Board rate Minimum balance $1,000 ($5,000 for 30 and 60 days); Up to $5 million	Go to bank
ANZ Bank New ZealandTerm Deposit	4.00%≈ NZ$400 in 12 months	12 months	NZ$10,000 +	Board rate For amounts of $10,000 or more	Go to bank
ASB BankTerm Deposit	4.00%≈ NZ$400 in 12 months	12 months	NZ$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

Different amount, priority tiers or fresh-funds filter? Open the full comparison.

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.

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.