Savings Plus account

Get rewarded for not dipping into your savings. Our Savings Plus account earns reward interest if you don’t make withdrawals.

Benefits at a glance

  • No minimum balance requirements
  • Reward interest rates encourage you to not make withdrawals and stay on track with your savings
  • No matter how many withdrawals you make, you still earn the base interest rate
  • No monthly base fee, or electronic transfer fees to transfer between your own ASB accounts

Is it right for me?

Savings Plus could be a great option if you have a longer-term savings goal.

With Savings Plus, the fewer withdrawals you make, the better off you are. Your savings earn a base rate of interest and then you have the opportunity to earn reward interest on top. So as long as you don’t make a withdrawal during a calendar quarter (e.g. from 1 January to 31 March), you earn full reward interest. Make one withdrawal and you’ll earn a partial reward interest, or make more than one withdrawal and you’ll earn base interest. A withdrawal at anytime during the calendar quarter (including the first day and last day) will impact your reward interest, so if you know you'll be dipping into your savings think about choosing another ASB savings account.

You can earn full or partial reward interest rates on amounts up to $2 million.

Base interest and any reward interest (after tax) can be automatically transferred to another ASB bank account immediately after it's paid to your Savings Plus account. The transfer of interest will not be counted as a withdrawal for reward interest purposes.

Interest rates & fees

Base interest

Calculated daily and paid monthly regardless of transactional activity or balance.

Full reward interest

Calculated daily and paid quarterly (on balances up to and including $2,000,000) if you make no withdrawals during a calendar quarter.

Combined base and full reward interest

If you make no withdrawals during a calendar quarter.

Partial reward interest

Calculated daily and paid quarterly (on balances up to and including $2,000,000) if you make one withdrawal during a calendar quarter.

Combined base and partial reward interest

If you make one withdrawal during a calendar quarter.

Balances above $2 million earn base interest only.

Monthly base fee

Transfers and deposits

Via online banking, Fastphone and ATM (to your own accounts), FastDeposit boxes or branch deposits.

Payments and withdrawals

Bill payments, one-off payments, IRD payments and withdrawals. Also includes manual transfers via branch, contact centre, business banking and ASB Virtual Branch.

EFTPOS, PayHere, direct debit and automatic payments are not available on Savings Plus.
Cash deposits may incur a cash handling fee.
Service charges apply.
See all our rates and fees.

Get more with ASB

Bank when it suits you

Whether you’re a night owl or an early bird, you can do your everyday banking at any time with FastNet Classic online banking. Sign in and you can pay your bills, set up automatic payments, order foreign exchange and more. You can even apply for a home loan after hours.

Bank on the go

We’re there wherever you need us with the ASB Mobile app. Check your balance while waiting for a bus, move money between your accounts while you’re shopping, or pay a friend for lunch using just their mobile number.

Put away money as you spend

Achieve your savings goal sooner with Save the Change. You can round up electronic purchases you make to the nearest dollar and the change goes into another account. You'll be surprised how quickly it can add up.

Open an ASB Savings Plus account

Apply online

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

Apply online

Call us

We’re here to help.

0800 803 804

Visit a branch

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

Find a branch

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Savings On Call account

A savings account where your money’s on call. It earns a higher interest rate for higher amounts saved.

FastSaver account

A savings account where every dollar earns the same interest rate – great for those with smaller balances.

Save the Change

We automatically round up your electronic transactions and put the difference into a savings account you choose.

Bank AccountsASB Savings Plus