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Savings Plus account

Reward interest rates encourage you to limit your withdrawals.

Benefits at a glance

  • No minimum balance requirements
  • Reward interest rates encourage you to limit your 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, depending on the number of withdrawals you make during a calendar quarter*.

We understand that sometimes you'll need access to your funds, so if you know you'll need to dip into your savings, try to plan ahead as 1 withdrawal during the first 5 days of the calendar quarter may not impact the interest you earn. 

  • To earn base interest plus full reward interest - you can make 1 withdrawal during the first 5 days of the calendar quarter. No other withdrawals are permitted.
  • To earn base interest plus partial reward interest - you can make 1 withdrawal but if that withdrawal is during the first 5 days of the calendar quarter then you can make a second withdrawal at any time during that calendar quarter.
  • If you are not eligible for full reward interest or partial reward interest as above then you will receive base interest only.

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.

*A "calendar quarter" means any of the following periods: 1 January to 31 March, 1 April to 30 June, 1 July to 30 September or 1 October to 31 December (as applicable).

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). You can make 1 withdrawal during the first 5 days of the calendar quarter. No other withdrawals are permitted.

Combined base and full reward interest

Partial reward interest

Calculated daily and paid quarterly (on balances up to and including $2,000,000). You can make 1 withdrawal but if that withdrawal is during the first 5 days of the calendar quarter then you can make a second withdrawal at any time during that calendar quarter. 

Combined base and partial reward interest

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.
Rates may change. Fees may change. Refer to asb.co.nz for other fees and charges.
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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FastSaver account

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Save the Change

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

Bank AccountsASB Savings Plus