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ASB Cash Fund

An ASB Cash Fund is a PIE alternative to a Savings On Call account, and may provide a better after-tax return than a Savings On Call account offering the same rate and fees - if you are on a 30% or 33% income tax rate.

Benefits at a glance

  • Tax on your returns is capped at a maximum rate of 28%
  • Higher balances earn higher returns (lower rates may apply for balances greater than $20 million)
  • You can access your account balance whenever you like
  • Easy to open and manage using FastNet Classic internet banking

Is it right for me?

An ASB Cash Fund is worth considering if you’re on a higher income tax rate and you’re looking for the flexibility to access your account balance.

If your income tax rate is 30% or 33%, an ASB Cash Fund may provide better after-tax returns than a Savings On Call account offering the same rate and fees.

About ASB Cash Fund

Access your funds anytime

Invest additional funds or withdraw all or part of your account balance at any time. For a partial withdrawal, the remaining balance needs to be $500 or more. You can make a withdrawal by transferring your funds to another ASB account or as a bill payment to a nominated bill payee that you set up.

Tax advantages for higher incomes

An ASB Cash Fund account may have tax advantages for you if you are a New Zealand resident on a 30 or 33% income tax rate. The ASB Cash Fund is a PIE Fund, which taxes your share of returns at a maximum rate of 28%.

Returns earned daily

Each New Zealand dollar you invest buys one unit in interest-bearing deposits. Returns are earned daily and paid as additional units into your account monthly.

Higher returns for higher balances

For balances up to $20 million, tiered rates of return mean higher balances earn higher returns. Investments over $20 million may earn a lower rate.

ASB Cash Fund rates of return

ASB Cash Fund account balance
Rate of return
Balance < $10,000
Balance $10,000 - $24,999.99
Balance $25,000 - $49,999.99
Balance $50,000 - $99,999.99
Balance $100,000 - $19,999,999.99
Balance $20,000,000+

See all rates and fees

The rates of return are before tax and any fees. A $500 minimum balance is required.
Rates of return can change at any time.

Get started today

01. Log in

Log in to FastNet Classic internet banking and go to 'Open & Apply'. Not yet with ASB or registered for FastNet Classic? Join now.

02. Set up

Decide how much to invest, for how long, and how your interest or returns should be paid.

03. Confirm

Confirm the details and that's it. You're good to go.

04. Manage

Log in anytime to manage your investment.

Open an ASB Cash Fund now

Open online

Open online and we’ll get you up and running as soon as possible.

Open online

Call us

We’re here to take your call 24 hours a day.

0800 803 804

Visit a branch

Visit us at one of our many branches across New Zealand.

Find a branch

Get more with ASB

Invest on the go

We’re there wherever you need us with the ASB Mobile app. Check your balance while waiting for a taxi or move money in or out of your fund while you’re shopping.

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ASB Term Fund

PIE alternative to a term deposit for those on a 30% or 33% tax rate.

Term deposit

Earn a fixed interest rate over a time period you choose.

Savings Plus

A savings account that rewards you for not making withdrawals.

For more information refer to the ASB Cash Fund and ASB Term Fund Terms and Conditions. Units in the ASB Cash Fund are issued by ASB Group Investments Limited, a wholly owned subsidiary of ASB Bank Limited (ASB). Investments made in the ASB Cash Fund are not deposits with ASB. ASB guarantees account balances and returns due but not paid (less fees and any PIE tax). The guarantee is unsecured.

Bank Accounts ASB Cash Fund