This data shows the interest expenses paid by banks as a percentage of the value of their customer deposits, including savings (call) accounts and term deposits.

Costs of bank deposits | |||
---|---|---|---|

Date | Cost of total deposits | Cost of savings (call) accounts | Cost of term deposits |

Previous years: | |||

Jul 2020 | 1.17 | 0.31 | 2.22 |

Jul 2021 | 0.46 | 0.15 | 1.06 |

Monthly: | |||

Aug 2021 | 0.46 | 0.15 | 1.06 |

Sep 2021 | 0.47 | 0.15 | 1.07 |

Oct 2021 | 0.50 | 0.19 | 1.11 |

Nov 2021 | 0.53 | 0.22 | 1.15 |

Dec 2021 | 0.60 | 0.31 | 1.24 |

Jan 2022 | 0.63 | 0.33 | 1.31 |

Feb 2022 | 0.67 | 0.33 | 1.41 |

Mar 2022 | 0.76 | 0.40 | 1.53 |

Apr 2022 | 0.85 | 0.49 | 1.66 |

May 2022 | 0.99 | 0.65 | 1.82 |

Jun 2022 | 1.17 | 0.82 | 2.02 |

Jul 2022 | 1.34 | 0.98 | 2.25 |

Yields on loans and costs of deposits at the end of month for registered banks.

Monthly

Data is published approximately five weeks after the end of the reference month.

Data is released on the Reserve Bank’s website.

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

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

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

Find out more about the Reserve Bank Act 1989.

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.

A copy of the Income Statement survey template and definitions is available from our Surveys page.

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

The monthly yield on residential mortgage loans (Total) is a weighted average yield on the total of all types of loans (floating and fixed) for registered banks fully secured on residential property.

It is calculated using the sum of each bank’s interest income received for both floating and fixed residential mortgage loans compared to the sum of a two period moving average of the value of these loans. Using a two period moving average for the value of loans takes into account that not all loans at the end of the reporting period would have contributed to the interest income over the reported month.

The yield takes into account the number of days within each month and is annualised. Each yield is calculated as follows:

Yield = (*The sum of each bank's interest income received on loans* / *The sum of a two period moving average of the value of loans*) X (365 / *number of days in a month*) X 100

The monthly yield on residential mortgage loans (Floating) is a weighted average yield on the total of all floating rate loans for registered banks fully secured on residential property.

It is calculated using the sum of each bank’s interest income received for floating residential mortgage loans compared to the sum of a two period moving average of the value of these loans. Using a two period moving average for the value of loans takes into account that not all loans at the end of the reporting period would have contributed to the interest income over the reported month.

The yield takes into account the number of days within each month and is annualised.

See Yield on residential mortgage loans (Total) above for the calculation formula.

The monthly yield on residential mortgage loans (Fixed) is a weighted average yield on the total of all fixed rate loans for registered banks fully secured on residential property.

It is calculated using the sum of each bank’s interest income received for fixed residential mortgage loans compared to the sum of a two period moving average of the value of these loans. Using a two period moving average for the value of loans takes into account that not all loans at the end of the reporting period would have contributed to the interest income over the reported month.

The yield takes into account the number of days within each month and is annualised.

See Yield on residential mortgage loans (Total) above for the calculation formula.

The monthly yield on total business loans is a weighted average yield on the total of all business loans for registered banks (not fully secured by residential property).

It is calculated using the sum of each bank’s interest income received for total business loans compared to the sum of a two period moving average of the value of these loans. Using a two period moving average for the value of loans takes into account that not all loans at the end of the reporting period would have contributed to the interest income over the reported month.

The yield takes into account the number of days within each month and is annualised.

See Yield on residential mortgage loans (Total) above for the calculation formula.

The monthly cost of total deposits is a weighted average cost on the total of savings (call) accounts and term deposits for registered banks.

It is calculated using the sum of each bank’s interest expenses paid for both savings (call) accounts and term deposits compared to the sum of a two period moving average of the value of these deposits. Using a two period moving average for the value of deposits takes into account that not all deposits at the end of the reporting period would have contributed to the interest expenses over the reported month.

The cost takes into account the number of days within each month and is annualised. Each cost is calculated as follows:

Cost = (*The sum of each bank’s interest expenses paid on bank deposits* / *The sum of a two period moving average of the value of deposits*) X (365 / *number of days in a month*) X 100

The monthly cost of savings (call) accounts is a weighted average cost on the total of savings (call) accounts for registered banks.

It is calculated using the sum of each bank’s interest expenses paid for savings (call) accounts compared to the sum of a two period moving average of the value of these deposits. Using a two period moving average for the value of deposits takes into account that not all deposits at the end of the reporting period would have contributed to the interest expenses over the reported month.

The cost takes into account the number of days within each month and is annualised.

See Cost of total deposits above for the calculation formula.

The monthly cost of term deposits is a weighted average cost on the total of term deposits for registered banks.

It is calculated using the sum of each bank’s interest expenses paid for term deposits compared to the sum of a two period moving average of the value of these deposits. Using a two period moving average for the value of deposits takes into account that not all deposits at the end of the reporting period would have contributed to the interest expenses over the reported month.

The cost takes into account the number of days within each month and is annualised.

See Cost of total deposits above for the calculation formula.

Symbol or convention | Definition |
---|---|

0 | Zero or value rounded to zero |

- | Not applicable |

.. | Not available |

bold |
Revised/new |

italics |
Provisional |

Light grey background | Historical |

- 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.

View our other Exchange and interest rate statistics series.