To buy term deposits you need to have available funds in your InvestNow transaction account. You can deposit money to your InvestNow transaction account from your nominated bank account.
Please note the minimum investment amount for ANZ and China Construction Bank is $10,000. The minimum investment amount for the Bank of China is $25,000 and needs to be input to a whole dollar. For all other banks, the minimum investment amount is $2,000.
To buy a term deposit, please follow these steps:
- Login to your account
- Go to the Term Deposits page
- Identify the bank and term for the term deposit you wish to buy, then click the rate.
- Enter the dollar amount you wish to invest (you need to have at least this amount of available cash in your transaction account)
- Select your preferred rollover option – ‘Do not reinvest’, ‘Principal only’, or ‘Principal & interest’
- Click the Download link to read the bank’s Terms and Conditions
- Click the check box to show that you have accepted the Terms and Conditions
- Click “OK”
It can take 5-7 business days for your term deposit order to be completed, with it appearing in your InvestNow portfolio, however you will receive interest from the date your order is sent for processing.
You can cancel a buy order until 12pm of the current business day. If you placed an order after 12pm on a business day or on a non-business day, you can cancel the order until 12pm on the next business day.
If you need to break a term deposit, please contact us at 0800499466 or contact@investnow.co.nz – noting that there are specific terms and conditions that apply to requesting to break a term deposit. For more details please read this FAQ.