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BankDirect
You've been redirected to this page as all BankDirect customers have now been moved over to ASB
Changes to BankDirect
All BankDirect accounts and services have been switched to ASB. If you were a BankDirect customer, you will find all information about your previous products below. If you need any further information please contact our dedicated BankDirect team on 0800 272 009.
If you are looking for a new account, home loan, credit card or another product or service, then ASB can help you find the right solution. If you are banking online, have a look at making payments and daily limits.
Interest Rates
Loans
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Housing Fixed 6 months
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5.25% p.a.
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|---|---|
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Housing Fixed 6 months special rate*
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4.95% p.a.
|
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Housing Fixed 12 months
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4.69% p.a.
|
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Housing Fixed 12 months special rate*
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4.29% p.a.
|
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Housing Fixed 18 months
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4.79% p.a.
|
|
Housing Fixed 18 months special rate*
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4.39% p.a.
|
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Housing Fixed 24 months
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4.89% p.a.
|
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Housing Fixed 24 months special rate*
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4.49% p.a.
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Housing Fixed 36 months
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5.19% p.a.
|
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Housing Fixed 36 months special rate*
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4.79% p.a.
|
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Housing Fixed 60 months
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5.99% p.a.
|
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Housing Fixed 60 months special rate*
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5.59% p.a.
|
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Variable Rate Loan
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5.80% p.a.
|
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FlexiLoan Variable Rate
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5.80% p.a.
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**Default interest rate (variable) / Unarranged Overdraft Interest Rate
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22.50% p.a.
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Overdraft - Secured variable
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15.50% p.a.
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Overdraft - Unsecured variable
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19.50% p.a.
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Overdraft - Unarranged variable
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22.50% p.a.
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Personal loan - Secured fixed (minimum loan amount $10,000)
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12.95% p.a.
|
|
Personal loan - Unsecured fixed
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17.45% p.a.
|
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Personal loan - debt consolidation fixed
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15.95% p.a.
|
|
Low Equity Margin (LEM bands)
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|
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Loan to Value Ratio (LVR)
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LEM
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80.01% - 85.00% LVR
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0.30% p.a.
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85.01% - 90.00% LVR
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0.75% p.a.
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90.01% - 95.00% LVR
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1.30% p.a.
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> 95.01% LVR
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1.50% p.a.
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Rates effective on and from 9:00am 16 February 2018.
Savings Account
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Standard $1+
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0.10% p.a.
|
|---|
Transaction Account
No credit interest is paid on Transaction accounts.
High Interest Transaction Account
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Less than $5,000
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0.00% p.a.
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|---|---|
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$5,000 - $49,999
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0.00% p.a.
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$50,000 - $99,999
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0.00% p.a.
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$100,000 or more
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0.10% p.a.
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Interest is calculated daily on every dollar in your account and credited monthly.
Credit Cards
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Visa Classic
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20.95% p.a.
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|---|---|
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Visa Gold
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20.95% p.a.
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Visa Low Interest
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13.60% p.a.
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Interest Rate on Credit Balances
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1.00% p.a.
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Interest rates are subject to change.
Term Deposits
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$5,000 - $9,999.99
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$10,000+
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|
|---|---|---|
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7-29 days
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0.75% p.a.
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1.00% p.a.
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30 days
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0.75% p.a.
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1.00% p.a.
|
|
60 days
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1.00% p.a.
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1.00% p.a.
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|
90 days
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1.75% p.a.
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2.75% p.a.
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|
4 months
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2.00% p.a.
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3.00% p.a.
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|
5 months
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2.00% p.a.
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3.00% p.a.
|
|
6 months
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2.00% p.a.
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3.25% p.a.
|
|
9 months
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2.00% p.a.
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3.45% p.a.
|
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12 months
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2.00% p.a.
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3.50% p.a.
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|
18 months
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2.00% p.a.
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3.60% p.a.
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|
2 years
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2.00% p.a.
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3.70% p.a.
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3 years
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2.00% p.a.
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3.80% p.a.
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4 years
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2.00% p.a.
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4.00% p.a.
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5 years
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2.00% p.a.
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4.10% p.a.
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As at 9:00am 26 February 2018.
Maximum total term deposits of $10,000,000 per customer.
Rates not available to financial institutions.
Interest can be paid monthly (for deposits of at least $10,000), quarterly, six monthly, annually or at the end of the term.
Minimum deposit $10,000.
Early withdrawal
You can request to make an early withdrawal of your term deposit before the maturity date, by giving us 31 days' prior notice. BankDirect can waive this notice period in circumstances where you are experiencing hardship (as reasonably determined by us). If we agree to your early withdrawal request, a reduced interest rate will be applied to the amount withdrawn early. Term deposit early withdrawal Q & A's.
BankDirect's Terms and Conditions apply. Please refer to the fees section below for applicable fees.
For Home Loans please also refer to the Home Lending General Terms and Conditions and the Mortgage Memorandum.
For Personal Loans please also refer to the Facility Agreement for Secured Loan and the Personal Loans General Terms and Conditions.
For Credit Cards and Overdrafts please refer to the BankDirect Terms and Conditions.
Interest rates are subject to change.
Fees
Transaction, FlexiLoan and Personal Loan Accounts
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Flexiloan Account Base Fee
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$3.00*
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|---|---|
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Transaction Account Base Fee
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$3.50
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*Note: No Base Fee if paper statements are suppressed.
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EFTPOS
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Free
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|---|---|
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ASB ATM
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Free
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Bill Payment (once Authorities are set up)
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Free
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Automatic Payment (once Authorities are set up)
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Free
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Direct Debits
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Free
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Transfers via NetDirect, DialDirect & ASB ATMs
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Free
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Virtual Cheques
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Free
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Manual Contact Centre transaction fee
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$3.00
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Paper Cheque fee
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$2.00
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Personal loan processing fee
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$250.00
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Personal loan default fee - monthly overdraft Facility fee (default fee) (unarranged overdraft exceeding $20) 0.12% of the highest daily overdrawn balance (minimum $10).
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Overdraft establishment fee
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$15.00
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|---|
Monthly overdraft facility fee (arranged) - The greater of 0.12% of the overdraft limit and 0.12% of the highest daily overdrawn balance (minimum charge $2).
Monthly unarranged overdraft fee (Unarranged overdrafts exceeding $20) - 0.12% of the highest daily overdrawn balance (minimum $10).
Effective 15 May 2017.
Non standard charges apply.
For further information please refer to our Terms and Conditions.
High Interest Transaction Account
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Flat Monthly Base Fee*
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$10.00
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|---|
*Note: The Base Fee is rebated if your average monthly balance^ for the account is $5,000 or more for that month.
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TRANSACTION FEES
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|
|---|---|
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EFTPOS
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Free
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ASB ATM
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Free
|
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Bill Payment (once Authorities are set up)
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Free
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Automatic Payment (once Authorities are set up)
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Free
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Direct Debits
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Free
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Transfers via NetDirect, DialDirect & ASB ATMs
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Free
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Cheques (Virtual and Paper)
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Free
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Manual Contact Centre transaction fee
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Free
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Effective 15 May 2017.
Non standard charges apply.
^The average monthly balance is calculated by aggregating the end of day balances in your account on each day in the month and dividing that amount by the number of days in the month.
For further information please refer to our Terms and Conditions.
Savings Account
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Transfers between your BankDirect accounts via NetDirect & DialDirect.
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Free
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|---|---|
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Deposits via BankDirect and ASB.
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Free
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All other withdrawals and transfers.
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$5 each
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Effective 15 May 2017.
Non standard charges apply.
For further information please refer to our Terms and Conditions.
Credit Cards
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6 month fee - Visa Classic
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$10.00
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|---|---|
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6 month fee - Low Interest Visa
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$30.00
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6 month fee - Visa Gold
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$25.00
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Additional card 6 month fee - Visa Classic
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$5.00
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Additional card 6 month fee - Low Interest Visa
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$5.00
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Additional card 6 month fee - Visa Gold
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$10.00
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CASH ADVANCES
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|
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Cash advance at any bank in NZ - counter
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$5.00
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Cash advance ATM
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$2.00
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Cash advance transfer via BankDirect Contact Centre /NetDirect or DialDirect
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$2.00
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Cash advance at overseas bank or ATM (NZD)
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$7.50
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Note: Interest on Cash Advances accrues on a daily basis from the date the cash advance is made from your card account until the date you repay the amount of such cash advance in full.
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Replacement card fee
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$7.50
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|---|---|
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Couriering cards outside NZ
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$40.00
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Duplicate Statement
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$5.00
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Late Payment Penalty fee
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$9.00
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Offshore service margins
Overseas card transactions will either first be converted into US dollars and then into New Zealand dollars or converted directly at an exchange rate selected by Visa, from available wholesale rates (or, if applicable, the government mandated rate).
Visa
The Offshore Service Margin is a margin charged by us when you use your card to make an overseas card transaction.
For overseas card transactions made using your BankDirect Visa card Offshore Service Margins of 1.85% of the converted New Zealand dollar amount of the transaction are charged.
For purchases refunded back to your BankDirect Visa card Offshore Service Margins of 1.85% of the converted New Zealand dollar amount of the transaction are charged to your card account.
The margins that are charged to your card account may differ from the margins that were charged for the original transaction due to fluctuations in the conversion rate.
The converted amount and the Offshore Service Margins will appear on your card statement.
Effective 31 March 2018.
For further information please refer to our Terms and Conditions.
Home Loan Fees
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Home loan processing fee
When you apply for a new home loan. |
$150.00
|
|---|---|
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Home loan top up fee
When you increase the amount of your existing home lending. |
$99.00
|
|
Re-documentation fee
If a home loan is approved and you then make changes to your home loans that require new documentation to be prepared. |
$50.00
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|
Alterations to security fee
When you request one of the following:
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$125.00
|
|
FlexiLoan Account - Transaction Account fees apply once account is active please see Transaction and FlexiLoan account fees
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|
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Registrations affecting land titles fee
When you request one of the following that affects the land title:
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$125.00
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Copy of loan history fee
When you request a copy of your loan history held by BankDirect. |
$20.00 per loan.
|
|
LINZ search fee
When a copy of your title is required. |
$15.00 per title.
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|
Change parties to loan agreement or owners on title fee
When you request one of the following:
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$125.00
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Priorities fee
When you request one of the following:
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$125.00
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Early repayment adjustment (ERA) cost
When you have a home loan on a fixed interest rate and you decide to do one of the following:
|
This amount varies. Please call 0800 500 400 for more details.
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|
Early repayment adjustment administration fee
When you decide to break your fixed interest rate for any of the above reasons. |
$20.00
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|
Local body rates demand notice fee
Charged if we have to make a rates payment on your behalf. |
$25.00
|
|
Loan demand fee
When we have to write to you due to the preparation of a formal demand for the repayment of your outstanding debt. |
$125.00
|
|
Default interest rate / Unarranged Overdraft Interest Rate
|
|
|
When you default on your home loan and the deduction account is overdrawn or in excess of an agreed overdraft limit. The interest will be calculated daily on the overdrawn amount, or the amount in excess of the arranged limit, at the Unarranged Overdraft interest rate until paid in full. This also applies when the balance owing on your FlexiLoan loan account exceeds the limit.
|
22.50% p.a.
|
|
Monthly unarranged overdraft fee
|
|
|
When you default on your home loan and the deduction account is overdrawn (exceeding $20.00) in excess of an agreed overdraft limit or there is no arranged overdraft in place.
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0.12% of the highest daily overdrawn balance (minimum $10).
|
|
Settlement statement fee
When we receive a request from your solicitor for a settlement statement as part of releasing your mortgage. |
$35.00
|
Effective 31 January 2018.
Fees are subject to change.
Non Standard Charges
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No exemptions apply
|
|
|---|---|
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ASB branch over the counter withdrawal
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$5.00
|
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DEPOSITS
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|
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ASB Branch over the counter
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Free
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Deposit for another bank (depends on bank)
|
$15.00
|
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Deposit to another bank through Contact Centre
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$15.00
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CHEQUES
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|
|
Place stop on cheque
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$10.00
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Place stop on cheque book
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$10.00
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Request a copy / trace of a cheque
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$15.00
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Bank cheque
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$5.00
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Bank cheque stop (in limited circumstances)
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$10.00
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Cheque Special Answer (plus costs)
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$25.00
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ATM / CARDS
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|
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Overseas ATM withdrawals
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$7.50
|
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Replacement cash card
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$5.00
|
|
STATEMENTS
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$5.00
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Order duplicate statement, per statement
|
|
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Order interim statement, per statement
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$2.50
|
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netCODE
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Free
|
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netCODE SMS Fee (per session)
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|
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netCODE Token Fee (monthly)
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$1.00
|
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netCODE Token Replacement Fee
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$20.00
|
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OTHER
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|
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Automatic Payment / Bill Payment set up and alteration
|
|
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~ Via NetDirect
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Free
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~ Via Contact Centre
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$5.00
|
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Search archived account history (minimum charge of $10.00)
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$25.00 per hour
|
|
Local Body Rates Demand Fee
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$5.00
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Charged when ASB issues notice to mortgagors for payment of overdue local body rates. Notice will be issued following demand being made by Local Authorities on the Bank for payment by the Bank under Section 62 Local Government (Rating) Act 2002 or may be issued pursuant to the mortgage.
|
Local body rates payment, charged if ASB is required to pay your local body rates on your behalf.
|
$60.00
|
|---|---|
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High Use Contact Centre Fee
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$1.00
|
Effective 31 March 2018.
For further information please refer to our Terms and Conditions.
Overseas Transaction Margins
Overseas Transaction Margins
Overseas card transactions will either first be converted into US dollars and then into New Zealand dollars or converted directly at an exchange rate selected by Visa, from available wholesale rates (or, if applicable, the government mandated rate).
The Offshore Service Margin is a margin charged by us when you use your card to make an overseas card transaction.
BankDirect Visa and BankDirect Cash Card
For overseas card transactions made using your BankDirect Visa or BankDirect Cash Card, Offshore Service Margins of 1.85% for BankDirect Visa and 1.10% of the converted New Zealand dollar amount of the transaction for BankDirect Cash Card are charged.
For purchases refunded back to a BankDirect Visa Card Account, Offshore Service Margins of 1.85% of the converted New Zealand dollar amount of the transaction are charged to your card account.
This amount may differ from the margins that were charged for the original transaction due to fluctuations in the conversion rate.
The converted amount and the Offshore Service Margins will either be debited from your nominated bank account or charged to your BankDirect Visa Card Account and detailed on your card statement.
Effective 15 May 2017
Note: BankDirect fees are subject to change at any time without notice.
Please refer to the interest section above for more information.
Bank Direct Terms and Conditions
Mortgage memorandum
General Bank Direct Terms and Conditions
Terms and Conditions
BankDirect Terms and Conditions, including the Customer Declaration (Adobe Acrobat Reader required). Adobe Acrobat Reader is available to download for free from the Adobe web site.
The Purpose of these Terms and Conditions
The Terms and Conditions together with any relevant product brochure, and the terms of any account opening form or application, form the basis of your relationship with BankDirect. It is important for you to carefully read, understand and keep the Terms and Conditions as they outline the rights, obligations and responsibilities for both you and us when opening and operating bank accounts and using the services offered by BankDirect. Unless there is any written agreement to the contrary, between you and BankDirect, the Terms and Conditions will apply to your use of BankDirect products and services.
BankDirect has changed the BankDirect Terms and Conditions, so that additional cardholders are no longer liable for amounts debited to the card account. Principal cardholder(s) remain liable for these amounts. This change is effective 20 October 2008.
Disclosure Statement
A copy of ASB Bank Limited's Disclosure Statement is available upon request from BankDirect or from any branch of ASB Bank, as BankDirect is part of ASB Bank Limited.
Privacy
Click on the link to see our Privacy Statement.
Copyright and Trademarks
© ASB Bank Limited 1997. The BankDirect logo is a trademark of ASB Bank Limited.
