Term Deposits

Earn up to 3 .20%p.a.

The Details

The Benefits

Our rates

Term Deposits are available to Personal, Children's and existing Trust* & existing Business* accounts.

Terms	Standard interest^	Monthly (interim)	Quarterly (interim)	Six-monthly (interim)	Minimum investment	Account fees
1 month	0.45%	-	-	-	$1,000	None
3 months	0.90%	-	-	-	$1,000	None
6 months	1.75%	-	-	-	$1,000	None
9 months	1.85%	-	-	-	$1,000	None
1 year	2.25%	2.23%	2.23%	2.24%	$1,000	None
15 months	2.25%	2.23%	2.23%	-	$1,000	None
18 months	2.35%	2.33%	2.33%	2.34%	$1,000	None
2 years	2.70%	2.67%	2.67%	2.68%	$1,000	None
3 years	3.15%	3.11%	3.11%	3.13%	$1,000	None
4 years	3.15%	3.11%	3.11%	3.13%	$1,000	None
5 years	3.20%	3.15%	3.16%	3.17%	$1,000	None

All interest rates on this page are percentage per annum (p.a.) and are shown before the deduction of taxes. The term deposit interest rates listed here are only for the first $5 million of total deposits you have with Rabobank Online Savings. For rates on deposits over $5 million please call us on 0800 22 44 33.

Early withdrawal fees may apply. Refer to the Rabobank Online Savings Terms & Conditions for more information.
*Please take note that we no longer accept applications for new Business or Trust customers.
^Standard Interest payments are paid on maturity only for terms up to 18 months, and annually for terms 2 years or greater. Rabobank Online Savings does not currently offer a compounding interest option for Term Deposits.

NoticeSaver

PremiumSaver

RaboSaver

The carpet being hoisted into the new Rabobank Centre in Hamilton earlier this year

Carpet made from clients wool to feature in Rabobank Centre

The new Rabobank Centre is set to open soon and will feature carpet made from wool sourced from three of the bank’s agribusiness clients.

Rabobank & KiwiHarvest Food Waste Research

Food waste survey shows we're taking steps in the right direction

Kiwis are wasting less of their food spend than they were in 2019 but the estimated cost of that food waste has risen, stinging households an estimated $1,259 per year. That’s the finding from the new Rabobank-KiwiHarvest Food Waste Survey.

7 ways to save on your food bill

New Zealanders are spending more on their groceries than ever before. Household food spend makes up a significant portion of New Zealand household budgets.

How many Term Deposits can I have?

During the initial account opening process you are only able to set up one Term Deposit, however, once you receive your Welcome Pack and PIN you are then able to login and create as many Term Deposits as you wish.

How do I invest over $5,000,000?

Please call our friendly Customer Contact 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.

My funds haven't cleared. Can I still set up a Term Deposit?

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 and one of our friendly contact centre consultants will contact you.

What if my tax rate changes during the Term Deposit?

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.

Can I add funds to a Term Deposit?

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.

When is interest paid on Term Deposits?

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 the nominated account

Can interest be compounded?

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.

How do I change my reinvestment instructions?

Log into your Rabobank Online Savings
Go to’ Accounts’ then select the Term Deposit
Click the on the Term Deposit
At the bottom of the page click on ‘Manage term deposit maturity’
Choose your new reinvestment instructions
Confirm the change using your Digipass

You can make changes up until the last business day before maturity.

I need access to my funds. Can I break my Term Deposit?

We may, at our discretion, allow you to break the Term Deposit and return the funds to your Rabobank Online Savings account.

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 a 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 money'.