We can help you make the most of your savings. Whether you’re looking for a fixed return over a set time period or a variable return with easy access to your money, ASB has great options to suit you.
The simplest way to save. There’s no minimum balance and you can add to your savings account or withdraw from them whenever you like. Your interest rate can change at any time.
You deposit an amount for a fixed time at a fixed interest rate. You need to deposit $5,000 or more and can’t add to these savings during the fixed time. You also can’t withdraw the deposit in most circumstances unless you give us 31 days’ notice. Only in exceptional circumstances, might we decide to waive the notice period.
Like a Savings On Call account, you can add to or withdraw your savings at any time; however, you do need to maintain a balance of $500 or more.
The main difference is how the tax works if you’re on an income tax rate higher than 28%.
If your income tax rate is 30% or 33%, an ASB Cash Fund may provide a better after-tax return than a Savings On Call account offering the same rate and fees.
A PIE alternative to a term deposit if your income tax rate is 30% or 33%. An ASB Term Fund account may provide a better after-tax return than a term deposit account offering the same rate, term and fees. Investments must be $5,000 or more in the ASB Term Fund.
What’s most important to you? Your ideal savings option might not be the one with the highest interest rate.
Answering these questions could help you choose the right account for your goals – you’ll find different savings solutions below. You can also try our Help me choose tool.
If you choose a term deposit you may be able to withdraw all or part of your funds early with 31 days’ notice.
Depending on your income tax rate, an ASB Term Fund account may boost your returns with a lower tax rate. But because of the nature of this investment you cannot withdraw your funds early, except in exceptional circumstances.
A term deposit or an ASB Term Fund, may give you a better rate of return, if you deposit $10,000 or more, for a term or six months or longer. When you set this up, you’ll have the option to have your interest or returns paid monthly. Choose this and every month your returns will be paid into the New Zealand dollar account that you nominate.
If you need to access your funds for large expenses, you should consider putting some of your funds into a savings account or an ASB Cash Fund account.
Decide how much to invest, for how long, and how your interest or returns should be paid.
Confirm the details and that's it. You're good to go.
Log in anytime to manage your investment.
ASB’s Terms and Conditions apply. Maximum total term deposits of $10 million per customer. The maximum investment across all ASB Term Fund accounts held either solely or jointly with any person is $10 million. Rates of return are before tax and any fees, current rates are available on asb.co.nz and can change at anytime. Rates not available to financial institutions.
For more information on the ASB Cash Fund and ASB Term Fund refer to the ASB Cash Fund and ASB Term Fund Terms and Conditions. Units in the ASB Cash Fund and ASB Term Fund are issued by ASB Group Investments Limited, a wholly owned subsidiary of ASB Bank Limited (ASB). Investments made in the ASB Cash Fund account and Term Fund account 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.