New interest bearing term deposit interest rates - B26

Released
07 July 2020 03:00 p.m.
Next release
07 August 2020 03:00 p.m.
Source
Reserve Bank of New Zealand
Periodicity
Monthly
Previous years: Monthly:
Jun 2018 Jun 2019 Feb 2020 Mar 2020 Apr 2020 May 2020 Jun 2020
Term deposits $10,000+
1 month1 1.27 1.07 0.74 0.58 0.53 0.39 0.34
3 month1 2.62 2.41 2.00 1.81 1.66 1.33 1.02
6 month1 3.06 2.94 2.54 2.36 2.26 1.96 1.67
9 month1 3.31 3.06 2.65 2.48 2.37 2.08 1.76
1 year1 3.24 2.92 2.50 2.38 2.30 2.02 1.78
18 month1 3.58 3.12 2.63 2.56 2.48 2.15 1.87
2 year1 3.63 3.04 2.56 2.42 2.36 2.09 1.86
3 year1 3.76 3.07 2.56 2.42 2.35 2.11 1.88
4 year1 3.93 3.17 2.60 2.44 2.38 2.12 1.89
5 year1 4.03 3.24 2.63 2.47 2.42 2.15 1.91
  1. The interest rates recorded here are simple averages of new term deposits with a minimum of $10,000, and a maturity greater than 1 day. Deposits are fixed for a specified time period.

The data: coverage, periodicity, and timeliness

Coverage characteristics

Average interest rate for new customer term deposits with a minimum of $10,000 investment, 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.

View the Statistics Release Calendar

Integrity

Dissemination of terms and conditions under which official statistics are produced, including confidentiality of individual responses

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

Read the Reserve Bank of New Zealand Act 1989.

The Reserve Bank of New Zealand publishes only aggregated data. Individual institutional data is confidential.

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.

Any major changes in methodology are posted on the website as a special note.

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

The Reserve Bank publishes data on the weighted new customer six month term deposit rate in the Retail interest rates on lending and deposits (B3) and data on simple averages for PIE (Portfolio Investment Entity) accounts in New interest bearing term PIE deposits interest rates (B27).

Interest.co.nz publishes term deposit interest rates for a range of terms.

New customer term deposit average interest rates

The interest rates recorded here are simple averages of new customer term deposits with a minimum investment of $10,000 advertised by all registered banks with available offerings. Deposits are fixed for a specified period and have a maturity greater than 1 day.

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
  • You are free to copy, distribute and adapt these statistics subject to the conditions listed on our copyright page.