New interest bearing term PIE deposits interest rates - B27

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 PIE
1 month1 0.69 0.63 0.39 0.35 0.35 0.21 0.16
3 month1 2.69 2.46 1.96 1.73 1.56 1.21 0.92
6 month1 3.28 3.18 2.68 2.49 2.38 1.95 1.69
9 month1 3.41 3.13 2.67 2.51 2.40 1.98 1.69
1 year1 3.50 3.15 2.66 2.47 2.38 1.99 1.73
18 month1 3.60 3.11 2.60 2.53 2.43 2.00 1.76
2 year1 3.69 3.11 2.60 2.44 2.37 1.98 1.76
3 year1 3.80 3.14 2.60 2.44 2.37 2.00 1.79
4 year1 3.99 3.18 2.61 2.45 2.38 2.02 1.82
5 year1 4.07 3.21 2.62 2.45 2.39 2.05 1.85
  1. The interest rates recorded here are the simple averages for PIE (Portfolio Investment Entity) accounts. These accounts are a type of investment similar to a call deposit that has tax advantages for depositors. Cash PIE are on-call – money can be withdrawn at any time. Term PIE are fixed term investments.

The data: coverage, periodicity, and timeliness

Coverage characteristics

Average interest rate for new customer term PIE (Portfolio Investment Entity) deposits, 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).

Read the Reserve Bank of New Zealand Act 1989.

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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.

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 term deposit accounts in New interest bearing term deposits interest rates (B26).

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

New customer term PIE deposit average interest rates

The interest rates recorded here are the simple averages of new customer PIE (Portfolio Investment Entity) accounts advertised by all registered banks with available offerings. These accounts are a type of investment similar to a call deposit that has tax advantages for depositors. Cash PIE are on-call – money can be withdrawn at any time. Term PIE are fixed term investments.

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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