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All your savings stay in NZ

Your savings help grow
NZ agribusiness

Your savings help your community

Together we help the

Zero fees on all accounts

Zero fees on our
Term Deposits

 We're here to help

Contact our friendly
customer service team

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.

Your deposits go to support the New Zealand food and agribusiness sector which contributes to feeding kiwis and the world.

The Benefits
  • No account fees
  • Open a Term Deposit with only $1,000
  • Option for regular interest payments on terms one year and over
  • Option to reinvest automatically when your term matures
  • Maturity email alerts - start planning your next move
  • Earn a return and help grow a better New Zealand

Our rates

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

Account fees
1 month 0.20%
- - - $1,000 None
3 months 0.40%
- - - $1,000 None
6 months 1.35%
- - - $1,000 None
9 months 1.50%
- - - $1,000 None
1 year 1.55%
$1,000 None
15 months 1.60%
- $1,000 None
18 months 1.65%
$1,000 None
2 years 1.80%
$1,000 None
3 years 2.00%
$1,000 None
4 years 2.25%
$1,000 None
5 years  2.35%
$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.

Open a Rabobank Online Savings account 

Open an account

Apply for an account online in minutes. Make sure you have a valid Driver Licence or Passport, your mobile phone and your IRD number handy.


Contact Rabobank New Zealand Our friendly team is here to help
Monday – Friday 8am - 6pm (New Zealand time)
If you're overseas call



Earn a variable interest rate by providing 60 days' notice each time you make a withdrawal.

Interest Rate


  • Add to your balance and make withdrawals at any time^
  • No account fees
  • No minimum balance

Learn more


Earn a premium interest rate if you increase your balance by $50 per month.*

Variable rate up to


  • Premium interest for growing your savings up to $100k*
  • Money is on call
  • No account fees or minimum balance

Learn more


RaboSaver makes it easy to move money around your accounts.

Interest Rate


  • Interest calculated daily, paid monthly
  • No account fees or minimum balance
  • Unlimited deposits & withdrawals

Learn more

^ 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 0.30% p.a. will apply to the total PremiumSaver balance for that month up to $5 million.

Frequently Asked Questions

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 Wellington based 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 Online Savings (RaboDirect) account that originally credited the term deposit. We are not able to pay interest back into the investment or directly to the nominated account.

Can interest be compounded?


We do not offer compounding interest payments. Interest is paid back to the Online Savings (RaboDirect) account that credited the term deposit.

However, if you are investing in a term of 1 year or less you can choose to automatically reinvest the term deposit at maturity and capitalise the interest. The interest will automatically be added to the original sum and incorporated in the new term investment.

How do I change my reinvestment instructions?

  1. Log into your Online Savings (RaboDirect)
  2. Go to’ Accounts’ then select the Term Deposit
  3. Click the on the Term Deposit
  4. At the bottom of the page click on ‘Manage term deposit maturity’
  5. Choose your new reinvestment instructions
  6. 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?


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

We may, at our discretion, allow you to break the term deposit and return the funds to your Online Savings (RaboDirect) 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 Online Savings (RaboDirect) 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 investment can be broken and if a fee will apply.

Once we have approved your request to break, and provided you with a break quote, confirmation from you to proceed must be received by 12.00pm on a business day to ensure it is broken that day.

The funds should be available in your Online Savings (RaboDirect) account by 5.00pm that evening. From there, you can transfer them back to your nominated account online by clicking 'Transfer and pay'.

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