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Term Deposits

Make your hard-earned savings work harder

Our term deposit investment terms range from 30 days to five years, offering competitive interest rates and flexible options to suit your individual needs.

Ready to get started?

Please choose savings type.

Rates are subject to change without notice.

Direct Call




32 Day Notice Saver




9 Month Term Deposit




How to open a Term Deposit

  1. Choose your deposit amount (min. $1,000), term and rate.
  2. Fill out your details and answer some tax questions.
  3. Let us know how you would like your interest to be paid.
  4. Someone from our team will be in touch.

Savings Bank Award 2018 - 2023

We are very proud to be awarded Canstar's Bank of the Year – Savings for the sixth 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?

A term deposit is a fixed term investment. However, Heartland understands that people’s circumstances do change. Heartland may accept written requests for early repayment in certain circumstances such as the death of an investor or unforeseen financial hardship (but is not required to do so). If Heartland does agree to an early repayment, the interest rate payable in respect of your term deposit may be reduced. You are able to request an early full or partial break by contacting our Retail Investments team on 0800 85 20 20 or [email protected].
For terms of 12 months or longer with a minimum deposit of $50,000, interest can be paid out monthly to a New Zealand bank account of your choice.
Prior to the maturity date of your Heartland Term Deposit, Heartland will give you notice to tell you that your investment is about to mature. This notice will be sent ten days before maturity and will give you the option to reinvest the full balance, reinvest the full balance plus add funds, reinvest part of the balance or pay the matured funds into another bank account. You can set and edit your maturity instructions within the 10 day notice period through the Heartland Mobile App and Heartland Digital.
Yes. For terms 6 month or longer, interest will be paid every 3 months. For terms less than 6 months, interest will be paid at maturity.
Yes, you can have interest paid to any New Zealand bank account of your choice.
Yes, you can open a term deposit account without any other Heartland account.
Yes, you must deposit at least $1,000 to open a Term Deposit account. The maximum balance of each Term Deposit account cannot exceed $5,000,000.
Yes, we will send a maturity notice prior to your Term Deposit maturing.

Looking for something else?

Heartland has a number of products that could help you manage your money and save for your goals.

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