Deposit Interest Rates

Interest rates last updated 30 July 2014.

Special Offer Term Deposits

Minimum Deposit $5,000
Interest Rate %p.a.
6 Months 4.30
12 Months* 4.60
  • * Interest paid monthly or at maturity only

Term Deposits

Minimum Deposit $2,000
Interest Rate %p.a.
Minimum Deposit $10,000
Interest Rate %p.a.
Minimum Deposit $50,000
Interest Rate %p.a.
1 Month  2.90 3.00 3.00
3 Months 3.90 4.00 4.00
6 Months 3.90 4.00 4.00
9 Months 4.40 4.50 4.50
12 Months 4.40 4.50 4.50
18 Months 4.60 4.70 4.70
24 Months 4.75 4.85 4.85
36 Months 5.00 5.10 5.10
48 Months 5.25 5.35 5.35
  • Monthly income option on deposits over $5,000.
  • Refer to Term Deposits for our interest options.
  • Maximum deposit $1,000,000. Interest rates may be negotiated for deposits over this amount.
  • Term Deposits are available anywhere from 1 month to 48 months. Where the term chosen by a customer does not have a specific quoted interest rate, the interest rate for that Term Deposit will be the rate applicable to the next shortest term that has a quoted rate.

Bonds

Interest rate % p.a.
24 Months 3.00
36 Months 3.00
48 Months 3.00
  • Minimum deposit $2,000.

Online Account

  • 3.15% p.a. interest on all credit balances.
  • Interest calculated daily, paid monthly.

Business Online Account

  • 3.15% p.a. interest on all credit balances.
  • Interest calculated daily, paid monthly.

Current

  • Nil interest on all balances.

Electronic

  • Nil interest on all balances.

Smile On Call

  Interest Rate % p.a.
$0 - $3,999 nil interest
$4,000 - $14,999 1.25
$15,000 - $49,999 1.50
$50,000 - $99,999 2.00
$100,000 or more 3.15
  • Interest calculated daily, paid monthly.

Step Saver

  Standard Rate % p.a. Bonus Interest % p.a. Bonus Rate % p.a.
All credit balances 0.50 4.00 4.50
  • Bonus interest is paid in every month if the account balance, exclusive of interest, is higher at the month end (or on the date the account is closed) than the balance at the start of the month (or on the date the account is opened if the account has been open for less than one month) and no more than one withdrawal is made in the month.
  • A month in this context runs from 8.00pm on the last day of a calendar month to 7.59pm on the last day of the next calendar month.
  • Interest is calculated daily, paid monthly.

Basic Saver

  • 2.00% p.a. on all credit balances.
  • Interest is calculated daily, paid as at 31 March each year.

Dollars and Sense

For 0 - 12 year olds.

Find out more about our youth accounts

Balance Interest Rate % p.a.
$0 - 4,000 5.00
Over $4,000 2.75
  • Interest calculated daily, paid monthly.
  • Interest rate applies on a stepped basis. Interest is paid at 5.00% p.a. on balances up to $4,000, then at 2.75% p.a. on balances over $4,000.
  • Limit of one Dollars and Sense account per customer.

Dosh

For 13 - 17 year olds and for full time tertiary students.

Find out more about our youth accounts

Find out more about our tertiary package

Balance Interest Rate % p.a.
$0 - 4,000 5.00
Over $4,000 2.75
  • Interest calculated daily, paid monthly.
  • Interest rate applies on a stepped basis. Interest is paid at 5.00% p.a. on balances up to $4,000, then at 2.75% p.a. on balances over $4,000.
  • Limit of one Dosh account per customer.

Christmas Saver

  • 2.00% p.a. on all credit balances.
  • Interest is calculated daily, paid quarterly.

Ultra Saver (for existing Ultra Saver accounts only)

  • 2.00% p.a. on all credit balances
  • Interest calculated daily, paid monthly.
  • No interest is earned for the month if the account balance is less than the minimum for the tier selected.
  • In any month a withdrawal is made, interest is calculated according to the account balance at the current Basic Saver account interest rate.
  • Interest is calculated at the rate applicable to the tier chosen by you. You can apply in writing to change tiers.

All rates are subject to change.

An Investment Statement and the current Disclosure Statement are available from any branch of The Co-operative Bank or can be downloaded here.

Terms and conditions apply. Available between 1 April 2014 and 23 May 2014. Interest rates are subject to change. An Investment Statement and the current Disclosure Statement are available from any branch of The Co-operative Bank or can be downloaded at co-operativebank.co.nz. Interest paid at maturity. This special term deposit offer is for new funds. It does not apply to existing deposits held with The Co-operative Bank. Limit one Term Deposit account at this special rate per customer.

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