New Zealand term deposit market averages
RBNZ market-average interest-bearing term deposit rates, by term. These are statistical averages, not institution offers.
An average is not an offer. An institution's advertised rate, minimum deposit and conditions can differ.
How term deposit rates are set
These are market averages, not institution offers. The Reserve Bank averages the interest-bearing term deposit rates institutions publish for deposits of $10,000 or more.
Compare the whole curve before locking in. The shortest and the longest terms here pay differently, and a term deposit pays the rate you take for the length you agree.
10 terms on the Reserve Bank's $10,000+ term deposit series.
10 termsare published, from one month to five years, so the whole curve is comparable.
1.94%is the lowest average in the table, on the 1 month term.
4.79%is the highest average, on the 5 year term.
Not offersAn average is not an offer. An institution's advertised rate, minimum deposit and conditions can differ.
Term — each one is its own page
1 rate type · showing 1 monthInterest rate, % per year
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Source: New interest-bearing term deposit interest rates (B26) (nz-rbnz-b26) · Effective 2026-09-30 · Checked