New interest bearing call savings account interest rates - B25

Released
07 September 2020 03:00 p.m.
Next release
07 October 2020 03:00 p.m.
Source
Reserve Bank of New Zealand
Periodicity
Monthly
Previous years: Monthly:
Aug 2018 Aug 2019 Apr 2020 May 2020 Jun 2020 Jul 2020 Aug 2020
New interest bearing call savings account interest rates
Savings accounts: Incl. bonus1 2.11 1.63 0.90 0.90 0.75 0.58 0.51
Savings accounts: Excl. bonus1 0.32 0.22 0.10 0.10 0.09 0.08 0.08
Savings accounts: Unconditional1 0.92 0.61 0.32 0.31 0.28 0.21 0.20
Cash PIE 1.12 0.79 0.45 0.45 0.38 0.33 0.30
  1. The interest rates recorded here are simple averages of conditional and unconditional call savings accounts. Conditional accounts have specific conditions e.g. when a bonus interest rate applies or when the bonus interest rate is “lost” or not applicable. Funds can be withdrawn at anytime but the applicable interest rate depends on the account conditions. Unconditional accounts are standard accounts where interest is paid on call and funds can be withdrawn at any time with no impact on the advertised interest rate.

The data: coverage, periodicity, and timeliness

Coverage characteristics

Average interest rate for new customer conditional and unconditional call savings accounts, advertised at the end of month by all registered banks with available offerings.

Periodicity

Monthly.

Timeliness

Published five working days after the end of the reference period.

Access by the public

Data Release

Data is released on the Reserve Bank’s Statistics section.

Statistics release calendar

The Statistics Release Calendar provides a long-term plan of scheduled releases. It is updated and released on the first working day of the month.

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Data is collected under Section 36 of The Reserve Bank of New Zealand Act 1989 (The Act).

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Provision of information about revisions and advance notice of major changes in methodology

Revisions are generally published when the table is next due to be updated and released. Should revisions need to be made more promptly, a note is posted on the website as a special note.

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Quality

Dissemination of documentation on methodology and sources used in preparing statistics

A copy of the survey template and definitions is available.

Dissemination of statistics that support statistical cross-check and provide assurance of reasonableness

Interest.co.nz publishes call savings account interest rates for a range of terms.

New customer call savings account average interest rates

The interest rates recorded here are simple averages of new customer conditional and unconditional call savings accounts advertised by all registered banks with available offerings. Conditional accounts have specific terms as to when a bonus interest rate applies or when the bonus interest rate is “lost” or not applicable. Funds can be withdrawn at any time but the applicable interest rate depends on the account conditions. Unconditional accounts are standard accounts where interest is paid on call and funds can be withdrawn at any time with no impact on the advertised interest rate.

Symbols and conventions for summary table

0 Zero or value rounded to zero
- Not applicable
.. Not available
bold Revised/new
italics Provisional
light red background Historical

General notes

  • Individual figures may not sum to the totals due to rounding
  • Percentage changes are calculated on unrounded numbers
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