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Cash and Term PIE Fund

The tax-efficient way to deposit

Are you a higher rate tax payer? Heartland’s Cash and Term PIE Funds enable you to invest in a tax-efficient way.

TERM PIE

Fixed rate and term (3 month minimum) with interest paid or compounded monthly.

CASH PIE

Get on-call access to your funds at an attractive interest rate.

Why invest with Heartland?

  • No fees for Cash or Term PIE Funds

  • Competitive interest rates

  • Long and proud history stretching back to 1875

  • 100% New Zealand owned and operated

Canstar's Savings Bank of the Year

We are very proud to be awarded Canstar’s Bank of the Year - Savings for the eighth consecutive year! This achievement is awarded to the institution that provides the strongest combination of products, accounting for the price positioning, features, savings tools and flexibility of the products assessed within Canstar’s Savings Account Star Ratings profiles, as well as supporting savers through a competitive Term Deposit offering.

Got questions?

The fund invests exclusively in Heartland Bank deposits, ranking equally with all other deposits.
No, Heartland’s Cash and Term PIE Funds don’t charge any fees.
A Cash PIE is an on-call account. You can access your money overnight on business days, so long as we receive your withdrawal request by 3pm. Please be aware that if you inform us of your request by email or secure message, we may not receive the request immediately. When establishing your Cash PIE, you will be asked to provide Heartland with a nominated settlement account. This is the account into which withdrawals will be paid.

A Term PIE is a fixed term investment. but we understand that people’s circumstances do change. We may accept written requests for early repayment in certain circumstances, such as the death of an investor or unforeseen financial hardship (but we’re not required to do so). If we do agree to an early repayment, the interest rate payable in respect of your Term PIE will be reduced. You can request an early, full or partial break by contacting our Retail Investments team on 0800 85 20 20 or [email protected].
If the funds have been invested for less than one month, we will return the requested amount but will not pay you interest on that amount.

If the funds have been invested for longer than one month, the standard process is for the interest rate payable in respect of the funds that you are withdrawing to be reduced by 2.00% p.a. over the term of the investment. However, Heartland may from time-to-time reduce the interest rate payable by a larger amount, up to a maximum of 3.00% p.a, or a smaller amount. Your final return will not be reduced below zero.
A PIE, standing for portfolio investment entity, is an entity which invests the contributions from its investors in different types of passive investment. Heartland’s PIE fund invests exclusively in Heartland Bank deposits, ranking equally with all other deposits.
A PIR, standing for prescribed investor rate, is the tax rate that your portfolio investment entity (PIE) uses to calculate the tax on the income from the investment of your contributions.
Your PIR is based on your taxable income, such as salary, wages and any other sources of income you would include in your income tax return. Use the PIR tool on the IRD website to determine yours.

Useful resources

View our Heartland Account & Service fee guide

View service fee guide

Read our Credit Rating and find out how it relates to you

View credit rating

Go to our Documents and Forms page to view and download

View documents & forms

See a summary of our Terms & Conditions for investment accounts

View terms & conditions

Our Cash and Term PIE Fund is DCS-protected.

The Depositor Compensation Scheme (DCS) covers eligible depositors up to $100,000 held in DCS-protected accounts. Find out more.

Can't find what you're looking for?

We have a great team standing by to answer any of your investment questions.

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