How do I buy a term deposit?

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 that the minimum amount for a term deposit purchase is $2,000.

To buy a term deposit, please follow these steps:

  • Go to the Invest 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 […]
By |2019-06-14T13:02:11+12:00September 24th, 2018|, |Comments Off on How do I buy a term deposit?

Is term deposit interest compounded?

We do not offer compounding interest payments for individual term deposits. Term deposit interest is paid back to your transaction account.

However, you can choose to automatically roll over a term deposit at maturity, including both the principal and interest in a new term deposit.

By |2019-06-14T13:15:01+12:00September 24th, 2018|, |Comments Off on Is term deposit interest compounded?

Can I change the rollover option I selected when I created my term deposit?

Yes, you can change what happens to your term deposit when it matures. Just go to the ‘Holdings’ page and click ‘Edit’ beside the term deposit you want to modify, then select either ‘Do not reinvest’, ‘Principal only’, or ‘Principal & interest’.

You can change the rollover option up to the day before your term deposit matures.

By |2019-06-14T13:15:40+12:00September 24th, 2018||Comments Off on Can I change the rollover option I selected when I created my term deposit?

What performance data is available for funds?

You can access two forms of performance data for the funds we offer – the performance returns for funds you hold in your InvestNow portfolio, since you have held them, or historical performance data going back up to 10 years, where available.

Performance Data for My Funds

On your PERFORMANCE page we provide a simple bar chart which shows the returns for each asset you currently hold, since inception of your portfolio – you can sort this by the name of the asset or the value of the $ return.  We also […]

By |2019-06-14T13:16:26+12:00May 6th, 2019|, |Comments Off on What performance data is available for funds?

What happens when my term deposit matures?

If you have elected to have your term deposit automatically roll over, we will create a new term deposit for you and confirm when this has happened.

Depending on the bank your deposit is with, the new term deposit will either be created on the maturity date or the next business day.

If you have not chosen an automatic rollover option, your principal and interest (net of withholding tax) will be paid to your InvestNow transaction account. Please note that interest is not paid on funds in your transaction account, so you […]

By |2019-06-14T13:17:07+12:00September 24th, 2018||Comments Off on What happens when my term deposit matures?

Can I end my term deposit early?

We may, at our discretion, and in conjunction with the bank your term deposit is with, allow you to break your term deposit and return the funds to your Transaction Account.

Call us on 0800 499 466, email us on contact@investnow.co.nz or use the Contact Us form with details of the term deposit you wish to break.

We will then obtain a quote from the bank your term deposit is with to determine the break fee and adjusted interest amount. We will contact you to advise if your term deposit can […]

By |2019-06-14T13:18:34+12:00September 24th, 2018||Comments Off on Can I end my term deposit early?