New Zealand·Calculators·Term deposit

Term deposit calculator

Gross interest on a lump sum over a fixed term, before any tax is taken off.

Your numbers

Amount

$NZD

Rate

% p.a.

Gross interest:

$880.00

Maturity value $20,880

Principal$20,000

Gross interest$880.00

At maturity$20,880

Per month, averaged$73.33

Gross simple interest calculated for the selected term with no compounding. No fees, early withdrawal or reinvestment. No market observation date or benchmark coverage applies; check the provider’s minimum deposit and rate for your term. Actual interest payment timing and calculation conventions vary by provider.

Source: entered rate · starting rate illustrative, not a bank offerThe arithmetic is the same in every country

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Gross is not what you keep

Interest on a term deposit is income, so resident withholding tax comes off before it reaches you. The figure above is the gross amount; what lands depends on your RWT rate.

Breaking a term deposit early can cost interest. The rate you agreed applies to the full term, not to the part you served.

Common questions

What rate should I enter?

The starting rate is illustrative, not a current market average or bank offer. Enter a quoted annual rate for your deposit amount and term. Changing the term keeps your entered rate; check the quote again.

Does interest compound?

Not here. This is simple interest for the term, which is how most New Zealand term deposits under a year are paid.