Countries / 🇳🇿 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, 03:42 UTC · all 7 providers
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.
Compare term deposit rates
6 banks with a 12-month rate for NZ$10,000
| 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 | 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 | Go to bank |
| Heartland BankTerm Deposit | 4.05%≈ NZ$405 in 12 months | 12 months | Not stated | Board rate | Go to bank |
| KiwibankTerm Deposit | 4.05%≈ NZ$405 in 12 months | 12 months | NZ$1,000 – NZ$5,000,000 | Board rate | Go to bank |
| ANZ Bank New ZealandTerm Deposit | 4.00%≈ NZ$400 in 12 months | 12 months | NZ$10,000 + | Board rate | Go to bank |
| ASB BankTerm Deposit | 4.00%≈ NZ$400 in 12 months | 12 months | NZ$5,000 + | Board rate | 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
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
Source: rbnz.govt.nz. Shown as a reference point, not a recommendation.
Deposit protection: Depositor Compensation Scheme (DCS)
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.
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, 03:42 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, 03:42 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
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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.