New Zealand savings market averages
RBNZ market-average savings and cash PIE rates by rate type. These are statistical averages, not account offers.
An average is not an offer. Account rates and the conditions for earning them can differ by institution.
How savings rates are set
These are market averages, not account offers. The Reserve Bank averages the call savings rates institutions publish, split into the rate including a bonus and the rate that does not depend on one.
A bonus is only paid in the months its conditions are met. Compare the unconditional average first if you might withdraw in a month, because it is the rate you are certain to earn.
4 savings market averages, including the cash PIE rate, published by the Reserve Bank.
2.04%is the average rate including a bonus, paid only in the months you meet the conditions.
1.25%is the average unconditional rate, what you earn with no conditions met.
0.79 ppseparates the including-bonus and unconditional averages — the part of the headline that depends on conditions.
Not offersAn average is not an offer. Account rates and the conditions for earning them differ by institution.
4 rate types · showing Market averageInterest rate, % per year
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Source: New interest-bearing call savings account interest rates (B25) (nz-rbnz-b25) · Effective 2026-09-30 · Checked