Term deposits, all in one place

Compare and invest in term deposits from a range of leading banks through your InvestNow account, without needing to open a separate account with each bank.

View term deposit rates

Start investing

Two women walking and talking in an office

Compare current term deposit rates

Today’s best term deposit rates from InvestNow’s partner banks.

Term

1 month

3 months

6 months

9 months

1 year

18 months

2 years

3 years

4 years

5 years

Best rate

2.25%

3.15%

3.55%

3.70%

4.40%

4.30%

4.35%

4.50%

4.75%

4.85%

Rates shown are % p.a. and were last updated 26 October 2026.

Rates displayed on the public website are recent rates offered through InvestNow but are not live. Log in to your InvestNow account to see the rates currently available before investing.

Create an account

More banks, without more bank accounts

InvestNow brings term deposits from multiple banks together in one place.

Once you have an InvestNow account, you can choose term deposits from any of the available partner banks without needing to open and manage a separate account with each one.

SBS Bank

Create an account

How investing in a term deposit works

Add money to your account

Transfer the amount you want to invest from your nominated bank account into your InvestNow Transaction Account.

Compare your options

View the available banks, terms and interest rates and choose the term deposit you want to invest in.

Place your order

Enter the amount you’d like to invest, review the bank’s terms and conditions and confirm your order.

Choose what happens at maturity

Decide whether you want your principal and interest returned to your InvestNow Transaction Account or automatically reinvested.

Start investing in term deposits

Your deposits and the Depositor Compensation Scheme

Eligible term deposits are protected by New Zealand’s Depositor Compensation Scheme (DCS) for up to $100,000 per eligible depositor, per licensed deposit taker, subject to the Scheme’s eligibility requirements.

Term deposits available through InvestNow are issued by the underlying bank or deposit taker, not by InvestNow.

$100,000

What does the $100,000 limit mean?

DCS protection is calculated across your eligible deposits with the same deposit taker, including deposits you may hold directly with that institution.

For example, if you already hold eligible deposits directly with a bank and also invest in a term deposit from the same bank through InvestNow, they count towards the same $100,000 DCS protection limit. Deposits with different eligible deposit takers are considered separately.

Learn about the Depositor Compensation Scheme

Things to understand before investing

A term deposit generally means agreeing to leave your money with the bank for a fixed period in return for a fixed rate of interest.

Before investing, make sure you understand:

Your money is invested for a fixed term

Term deposits are designed to be held until maturity. Accessing your money early isn’t the same as withdrawing from an everyday bank account.

Breaking a term deposit early

You may be able to request an early withdrawal, but this is subject to the relevant bank’s terms and conditions. Fees, changes to the interest you receive and notice periods may apply.

Interest and tax

Interest is generally paid at maturity for shorter terms. For terms of two years or longer, payment frequency varies by bank. Resident withholding tax (RWT) is deducted from interest at your applicable rate.

Rates can change

The rate available for a new term deposit or rollover may be different from the rate available today. Check the current rate before confirming an investment or rollover.

Read the term deposit FAQs

Frequently asked questions

Which banks offer term deposits through InvestNow?

InvestNow currently provides term deposit options from ANZ, BNZ, Bank of China, Heartland Bank and SBS Bank.