Term Deposits
Start with as little as $1,000 and choose a term that suits you from 1 month up to 5 years
1 Year Term
%
P.A.
It's rare for banks and other deposit takers to fail. But in the unlikely event of a failure, your money could be automatically protected up to $100,000. Find out more about how the Depositor Compensation Scheme protects your money.
The benefits
- No annual account fees
- Minimum $1,000 investment
- Choose interest payments for terms of one year or more
- Option to reinvest automatically when your term matures
- Is covered under the Depositor Compensation Scheme
The details
Our term deposits are a great way to get some predictability back into your savings.
Term deposits give you the reassurance that you will have a fixed rate for a fixed period so you know exactly where you stand.
Plus with Rabobank Term Deposits, you're not only growing your savings, you're helping to fund New Zealand farmers and growers to produce food for us all.
Last updated:
Our rates
The rates below are applicable to Personal Accounts which include: Individual, Joint and Children accounts. For Business and Trust rates, see here.
| Terms | At maturity | Monthly | Quarterly | Six-monthly | Annually |
|---|---|---|---|---|---|
| 1 month | % | - | - | - | - |
| 3 months | % | - | - | - | - |
| 6 months | % | - | - | - | - |
| 9 months | % | - | - | - | - |
| 1 year | % | % | % | % | - |
| 15 months | % | % | % | - | - |
| 18 months | % | % | % | % | - |
| 2 years | - | % | % | % | % |
| 3 years | - | % | % | % | % |
| 4 years | - | % | % | % | % |
| 5 years | - | % | % | % | % |
A minimum investment of $1,000 is required for a Term Deposit. Interest rates are subject to change without notice, apply to deposits up to $5 million, and are available for Personal Accounts only. Rabobank Online Savings does not currently offer a compounding interest option for Term Deposits. For interest rates on deposits over $5 million, please call us on 0800 22 44 33. Early withdrawal fees may apply.
Open a Rabobank Online Savings Account
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Get set-up with an account and start saving towards your goals.
For more information, take a look at our Frequently Asked Questions.
Our Client Services Team is ready to take your call, Monday to Friday, 8am - 6pm (NZT)
Other savings options
RaboSaver
RaboSaver makes it easy to move money around your accounts.
Interest Rate
%
p.a.
- Interest calculated daily and paid monthly
- No account fees or minimum balance
- Unlimited deposits & withdrawals
PremiumSaver
Earn a premium interest rate if you increase your balance by $50 per month.*
Earn up to
%
p.a.
- Premium interest for growing your savings up to $100k*
- Money is on call
- No account fees or minimum balance
NoticeSaver
Earn a variable interest rate by providing 60 days' notice each time you make a withdrawal.^
Interest Rate
%
p.a.
- Add to your balance and make withdrawals at any time^
- No account fees
- No minimum balance
Important Information
Rabobank Online Savings terms, conditions and eligibility criteria apply. Interest rates subject to change without notice. All interest rates shown are expressed as a percentage per annum (p.a.) before the deduction of taxes.
^ A 60 day notice period applies prior to each withdrawal.
* If the required $50 monthly balance increase excluding interest paid during that month is achieved. The standard RaboSaver rate applies to the portion of the PremiumSaver balance over $100,000 and up to $5 million. If the required $50 monthly balance increase is not achieved, a rate of % p.a. will apply to the total PremiumSaver balance for that month up to $5 million.
Frequently Asked Questions
During the initial account opening process you are only able to set up one Term Deposit, however, after your account is opened and you can access it online, you are then able to login and create as many Term Deposits as you wish.
Please call our friendly Client Service Centre on 0800 22 44 33, between 8am and 6pm weekdays. They will tell you what the best available rate is and create the Term Deposit on your behalf.
Yes. You can reserve a Term Deposit using uncleared funds providing the funds clear within three business days. The interest rate will be held and the Term Deposit will start once the funds clear. But don’t worry, if rates go up, we will honour the new rate. While the funds are clearing you will earn interest at our RaboSaver rate.
If your transfer is dishonoured, the Term Deposit request will be cancelled.
Tax will be deducted at your new tax rate when the next interest payment is made. For example, if you have a 6 month Term Deposit and change your tax rate part way through, tax will be deducted at your new rate when the interest is paid at maturity. It is not possible to deduct tax at two separate rates for one interest payment.
Once the Term Deposit is set up, the details such as the amount, term and interest rate are locked in. You can always open additional Term Deposits with any balance of $1,000 or more.
Interest is calculated daily and paid at maturity for terms of 1-9 months.
For terms of 1-5 years, you can choose to have interest paid monthly, quarterly, six monthly (excluding the 15 month term) or annually.
Interest is paid back to the Rabobank Online Savings account that originally credited the Term Deposit. We do not provide compounding interim interest and we are not able to pay interest directly to your nominated account.
We do not offer compounding interest payments. Interest is paid back to the Online Savings account that credited the Term Deposit.
However, if you are investing in a term of 18 months or less with interest at maturity, you can choose to automatically reinvest the Term Deposit and capitalise the interest. The interest will automatically be added to the original sum and incorporated in the new Term Deposit.
1. Log in to your Rabobank Online Savings account
2. Go to ‘Accounts’ and select your Term Deposit
3. Select ‘Manage term deposit maturity’ at the top of the page
4. Choose your preferred reinvestment instructions
5. Confirm your changes by following the on-screen instructions
You can update your reinvestment instructions up until the last business day before your Term Deposit matures.
We may, at our discretion, allow you to break the Term Deposit and return the funds to your Rabobank Online Savings account. An Early Withdrawal Fee may apply.
Call us on 0800 22 44 33 or send a secure message with details of the Term Deposit you wish to break.
To send a secure message, log into Rabobank Online Savings and click on the envelope icon top right hand side of screen then 'Create new message'.
We will then contact you to advise if the deposit can be broken and if an Early Withdrawal Fee will apply.
Once we have approved your request to break, and provided you with a break quote, you must confirm whether you wish to proceed breaking the Deposit by 3.00pm on the same business day when we provided the confirmation to you to ensure it is broken that day.
The funds will be available in your Rabobank Online Savings account by the end of that day. From there, you can transfer funds to your nominated account online by clicking 'Transfer & pay'.
If you've held multiple Term Deposits over the years, some matured or closed deposits may not be visible through our standard enquiry screens.
If you're looking for information about a previous Term Deposit, please contact our Client Services team on 0800 22 44 33, Monday to Friday, 8am–6pm. We can arrange further investigation and help you access the information you need.
When you update your Term Deposit reinvestment instructions, the change is applied immediately. However, it may not appear in the ‘Accounts’ tab on Rabobank Online Savings Internet Banking or mobile app.
This is because:
- The ‘Accounts’ tab shows your current Term Deposit details (the active contract until maturity)
- Your updated reinvestment instructions are forward-dated and will only take effect at maturity
1. Go to the ‘Accounts’ tab and select your Term Deposit
2. On the ‘Account’ activity’ screen, select ‘Rates & details’
Your Term Deposit reinvestment instructions will be displayed there.