Whether you’re deciding how long to lock in your savings, thinking ahead to what happens at the end of your term (maturity), or wanting to understand rates or breaking your term (early withdrawals), each guide breaks things down simply and clearly. You’ll find practical explanations, helpful examples, and a clear view of what your choices mean, so you can plan with certainty and peace of mind.

Each guide focuses on a specific topic, so you can easily find the information that’s most helpful for your goals, when you need it, now and as your plans evolve.

  • Understanding term deposit early withdrawals

    Things change; we get that. To help you feel confident about your options, we’ve put together some helpful information explaining how early withdrawals work, what you can expect, and why a reduced interest rate may apply.

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  • What happens when your term deposit matures?

    When your term deposit reaches its maturity date, your term deposit has finished the term you have chosen. Learn about what happens next.

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  • Compounding interest, how it works and why it matters

    Compounding interest helps your money do more of the heavy lifting by earning interest on both what you put in and what’s already been earned. Over time, small steps today can support your longer‑term goals.

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  • How to choose your term deposit length

    Unsure of what term length to choose? we’ve put together a simple guide that may help you decide what will work for you.

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  • What affects term deposit rates in New Zealand?

    When you’re comparing New Zealand term deposit rates, it’s completely natural to have a few questions. Here’s a simple look at the things people often wonder about, how we approach term deposit rates.

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Term deposit glossary

We’ve put together this glossary to explain common term deposit terms, to help you understand how term deposits work and better understand your options.

Term Definition
Term deposit Money saved for a set period at a fixed interest rate.
Term The length of time your money is locked in.
Interest rate The percentage per annum used to work out how much interest your savings earn.
Fixed rate An interest rate that stays the same for the duration of the term.
Minimum deposit The smallest amount needed to open a term deposit.
Monthly interest Interest paid to you each month, where this option is available.
Compounding interest Interest added to your balance, so future interest is calculated on the increased amount.
Interest at maturity Interest paid all at once at the end of the term.
Maturity The date when your current term deposit ends.
Maturity instructions The instructions you provide for what you would like to happen when your term deposit ends.
Reinvest or renew (rolling over) When the term of your current term deposit ends, choosing to automatically reinvest your term deposit balance for a further fixed period.
Early withdrawal (breaking a term) Withdrawing some or all of your money before the term ends, where approved (may affect the interest you earn).
Reduced interest A lower interest rate that may be applied if an early withdrawal is approved.

Important: This guide shares general information only and isn’t financial advice. It doesn’t consider your personal goals or situation. If you’d like advice for your circumstances, it’s a good idea to speak with a licensed financial adviser.