Term Deposits

Earn up to 4 .25%p.a.

Our rates

Personal, Trust, Children's & Business accounts up to $5m

Terms	Standard interest^	Monthly (interim)	Quartlerly (interim)	Six-monthly (interim)	Minimum investment	Account fees
1 month	2.05%	-	-	-	$1,000	None
3 months	3.10%	-	-	-	$1,000	None
6 months	3.35%	-	-	-	$1,000	None
9 month	3.35%	-	-	-	$1,000	None
1 year	3.40%	3.35%	3.36%	3.37%	$1,000	None
15 months	3.40%	3.35%	3.36%	-	$1,000	None
18 months	3.70%	3.64%	3.65%	3.67%	$1,000	None
2 years	3.85%	3.78%	3.80%	3.81%	$1,000	None
3 years	3.95%	3.88%	3.89%	3.91%	$1,000	None
4 years	4.10%	4.02%	4.04%	4.06%	$1,000	None
5 years	4.25%	4.17%	4.18%	4.21%	$1,000	None

Early withdrawal fees may apply. Refer to the RaboDirect Terms & Conditions for more information.
^ Standard Interest payments are paid at maturity only for terms up to 18 months, and annually and at maturity for terms of 2 years or more. RaboDirect does not currently offer a compounding interest option for Term Deposits. The interest rates listed here are for deposits up to $5 million. For rates on deposits over $5 million please call us on 0800 22 44 33.

Frequently Asked Questions

How many Term Deposits can I have?

During the initial account opening process you are only able to set up one Term Deposit, however, once you receive your Welcome Pack and PIN you are then able to login and create as many Term Deposits as you wish.

When is interest paid?

Interest is calculated daily and paid at maturity for terms of 1-9 months.

For terms of 1-5 years, you can choose to have interest paid monthly, quarterly, six monthly (excluding the 15 month term) or annually.

Interest is paid back to the RaboDirect savings account that originally credited the term deposit. We are not able to pay interest back into the investment or directly to the nominated account.

Can interest be compounded?

We do not offer compounding interest payments. Interest is paid back to the RaboDirect savings account that credited the term deposit.

However, if you are investing in a term of 1 year or less you can choose to automatically reinvest the term deposit at maturity and capitalise the interest. The interest will automatically be added to the original sum and incorporated in the new term investment.

How do I invest over $5,000,000?

Please call our friendly Customer Contact Centre on 0800 22 44 33, between 8am and 6pm weekdays. They will advise the best available rate and create the term deposit on your behalf.

My funds haven't cleared. Can I still set up a Term Deposit?

Yes. You can reserve a term deposit using uncleared funds providing the funds clear within three business days. The interest rate will be held and the term deposit will start once the funds clear. But don’t worry, if rates go up, we will honour the new rate. While the funds are clearing you will earn interest at our RaboSaver rate.

If your transfer is dishonoured, the term deposit request will be cancelled and one of our friendly contact centre consultants will contact you.

How do I change my reinvestment instructions?

Log into your RaboDirect account
Click ‘Term Deposits’
Click the ‘Actions’ button next to your term deposit
Select ‘Change Reinvestment Option’
Choose your new reinvestment instructions
Confirm the change using your Digipass

You can make changes up until the last business day before maturity.

What if my tax rate changes during the Term Deposit?

Tax will be deducted at your new tax rate when the next interest payment is made. For example, if you have a 6 month term deposit and change your tax rate part way through, tax will be deducted at your new rate when the interest is paid at maturity. It is not possible to deduct tax at two separate rates for one interest payment.

Can I add funds to a Term Deposit?

Once the term deposit is set up, the details such as the amount, term and interest rate are locked in. You can always open additional term deposits with any balance of $1,000 or more.

I need access to my funds. Can I break my Term Deposit?

We may, at our discretion, allow you to break the term deposit and return the funds to your RaboDirect savings account.

Call us on 0800 22 44 33 or send a secure message with details of the term deposit you wish to break.

To send a secure message, log into RaboDirect and click 'My Rabo' then 'Create new message'.

We will then contact you to advise if the investment can be broken and if a fee will apply.

Once we have approved your request to break, and provided you with a break quote, confirmation from you to proceed must be received by 12.00pm on a business day to ensure it is broken that day.

The funds should be available in your RaboDirect savings account by 5.00pm that evening. From there, you can transfer them back to your nominated account online by clicking 'Transfers'.

Satisfyingly good terms

Regular interest payments

Reinvest automatically

Maturity email alerts

Low minimum investment

3.35% p.a.

6 months

3.40% p.a.

1 year

4.25% p.a.

5 years

Our rates

How do we stack up?

Term Advantage fund