Diversifying your investments

Finding the right balance between different investments may be a challenge, but it can be worthwhile. One option you might consider is a mix of fixed-term investments.

Open online Contact us

Great reasons to choose us

  • A great addition to your saving plan - low maintenance investment with fixed returns
  • Choose how and when you receive your investment returns
  • Enjoy fixed returns to suit your savings goals – from 30 days up to five years
  • Easy to open and manage with FastNet Classic internet banking

Is it right for me?

A term deposit is a low-maintenance investment option that may help if you are looking to diversify your investments. You may find it helpful in smoothing out some of the volatility that occurs when investing. 

An ASB Term Fund account is a PIE (Prescribed Investment Entity) alternative, and may offer a better after-tax return than a term deposit offering the same rate, term and fees if you're on a 30% or higher income tax rate.

Term deposit and ASB Term Fund rates

6 months


9 months


12 months


Rates of return are before tax and any fees. Rates can change at any time. For terms of less than six months, interest is paid at maturity. For longer terms you can choose to have interest paid monthly, quarterly, six monthly, annually or at maturity or you can choose to have quarterly, six monthly or annual interest compounded. Monthly interest cannot be compounded and is only available on balances of $10,000 or more.


Resident Withholding Tax

Resident withholding tax (RWT) is the tax deducted on interest paid to New Zealand tax residents on their deposit accounts. Find out more information about RWT if you are not sure what rate you should be on.


Prescribed Investor Rate

Prescribed investor rate (PIR) is the tax that applies to PIE products like an ASB Term Fund account. Find out more information about PIR if you are not sure what rate you should be on.


Find the right investment

Term deposit

With a term deposit you'll earn a fixed interest rate for a fixed period of time. You will need to give us 31 days' notice if you wish to make an early withdrawal.

Apply online

ASB Term Fund

A PIE alternative to a term deposit, which may provide a better after-tax return than a term deposit offering the same rate, term and fees - if you're on a 30% or higher income tax rate. You won't be able to make an early withdrawal from an ASB Term Fund, except in exceptional circumstances approved by ASB.

Apply online

ASB Cash Fund

A PIE alternative to a Savings On Call account, which 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 higher income tax rate. You can make a withdrawal at any time however, you need to maintain a minimum account balance of $500.

Apply online

Get started today

01. Log in

Log in to FastNet Classic internet banking and go to 'Open & Apply' or join now if you're not yet with ASB or registered for FastNet Classic.

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 a term deposit or ASB Term 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 help.

0800 803 804

Visit a branch

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

Find a branch

Get more with ASB

Guides to get you there

Maximum total term deposits of $10 million per customer. Maximum amount across all ASB Term Fund accounts held either solely or jointly with any person is $10 million. Rates not available to financial institutions.

ASB's Terms and Conditions apply. For more information on ASB Term Fund refer to the ASB Term Fund and ASB Cash Fund Terms and Conditions. Units in the ASB Term Fund are issued by ASB Group Investments Limited, a wholly owned subsidiary of ASB Bank Limited ("ASB"). Investments made in the ASB Term 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.

ASB Wealth Managers' disclosure statements are avaliable on request and free of charge from your ASB Wealth Manager.

Term investments Diversifying your investments