Term investments

With a term deposit or ASB Term Fund account you earn a fixed return over a time period that you choose. This could help you reach your savings goal faster.

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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.

Benefits at a glance

  • Enjoy fixed returns to suit your savings goals – from 30 days to five years

  • Payment options to reinvest or pay out at maturity

  • Pay your interest directly into your New Zealand dollar bank account

  • Easy to open and manage your term investments using FastNet Classic internet banking.

How can we help you?

Money to invest

Looking to invest? Term deposits and ASB Term Fund accounts are investment options that provide a fixed return over the time period you choose.

Manage your investments online

You can reinvest online and see a visual timeline of your investment, as well as being able to lock in a rate early using our rate promise feature.

Living off your interest

Use the interest or returns you earn on your term deposit or ASB Term Fund account to pay yourself a regular income.

Saving for a goal

Saving for a goal? Compounding the interest or returns on your term deposit or ASB Term Fund account can help you achieve your savings goal faster.

Diversifying your investments

A term deposit or ASB Term Fund account could play a valuable role in your investment mix and provide a source of income.

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.

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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.

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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.


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. 

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Call us

We’re here to help.

0800 803 804

Visit a branch

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

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ASB's Terms and Conditions apply. Minimum deposit $5,000. Rates may change. Rates not available to financial institutions. Maximum amount across all term deposits held either solely or jointly with any person is $10 million.

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.  

ASBTerm investments