Finding the right balance between different investments may be a challenge, but it can be worthwhile. One option you might consider is a mix of fixed-term investments.
A term deposit is a low-maintenance investment option that may help if you are looking to diversify your investments. You may find it helpful in smoothing out some of the volatility that occurs when investing.
An ASB Term Fund account is a PIE (Prescribed Investment Entity) alternative, and may offer a better after-tax return than a term deposit offering the same rate, term and fees if you're on a 30% or higher income tax rate.
6 months
$5,000+
9 months
$5,000+
12 months
$5,000+
Resident withholding tax (RWT) is the tax deducted on interest paid to New Zealand tax residents on their deposit accounts. Find out more information about RWT if you are not sure what rate you should be on.
Prescribed investor rate (PIR) is the tax that applies to PIE products like an ASB Term Fund account. Find out more information about PIR if you are not sure what rate you should be on.
With a term deposit you'll earn a fixed interest rate for a fixed period of time. You will need to give us 31 days' notice if you wish to make an early withdrawal.
A PIE alternative to a term deposit, which may provide a better after-tax return than a term deposit offering the same rate, term and fees - if you're on a 30% or higher income tax rate. You won't be able to make an early withdrawal from an ASB Term Fund, except in exceptional circumstances approved by ASB.
A PIE alternative to a Savings On Call account, which may provide a better after-tax return than a Savings On Call account offering the same rate and fees - if you are on a 30% or higher income tax rate. You can make a withdrawal at any time however, you need to maintain a minimum account balance of $500.
Log in to FastNet Classic internet banking and go to 'Open & Apply' or join now if you're not yet with ASB or registered for FastNet Classic.
Decide how much to invest, for how long, and how your interest or returns should be paid.
Confirm the details and that's it. You're good to go.
Log in anytime to manage your investment.
Whether you're a night owl or an early bird, you can open and manage a term deposit or ASB Term Fund account at any time with FastNet Classic internet banking or FastNet Business. Log in to check your earnings or change what you want to happen with your money after your investment matures.
Our Wealth Managers can talk you through your investment options and help you put a plan in place to protect and grow your wealth.
Maximum total term deposits of $10 million per customer. Maximum amount across all ASB Term Fund accounts held either solely or jointly with any person is $10 million. Rates not available to financial institutions.
ASB's Terms and Conditions apply. For more information on ASB Term Fund refer to the ASB Term Fund and ASB Cash Fund Terms and Conditions. Units in the ASB Term Fund are issued by ASB Group Investments Limited, a wholly owned subsidiary of ASB Bank Limited ("ASB"). Investments made in the ASB Term Fund are not deposits with ASB. ASB guarantees account balances and returns due but not paid (less fees and any PIE tax). The guarantee is unsecured.
ASB Wealth Managers' disclosure statements are avaliable on request and free of charge from your ASB Wealth Manager.
