Term Deposits2019-08-06T13:39:24+12:00


In October 2018 we launched our new Term Deposit (TD) offering.  Just like our range of managed funds, we will bring you Term Deposits from a number of banks here in New Zealand.

These are TDs with the named banks, supported by the standard terms and conditions the banks have for their TDs, as if you had purchased them directly from them, through one of their branches or online.

Launching with the BNZ, SBS Bank joined InvestNow in November 2018, ANZ in June 2019 and China Construction Bank joined August 2019.  We are currently working with a number of other banks to add them to InvestNow.

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How does it work?

It’s just the same as when you invest in managed funds with us.  You transfer cash from your nominated bank account, into your InvestNow Transaction Account.  Once the cash is cleared, you can invest in TDs (note that the minimum TD amount is $2,000 for all banks, except ANZ where the minimum is $10,000).

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What terms do we offer?

For most banks it will be all the standard ones – 1 month, 3 month, 6 month, 9 month, 1 year, 18 months, 2 years, 3 years, 4 years and 5 years.

What interest options are available?

Initially we will be offering interest at maturity, unless the TD is for a term of 2 years or longer, where interest will be paid semi-annually.

What rollover options are there?

When you invest in a TD you can elect to have your investment:

  • Not rollover at maturity, at which time the principal and net interest will be credited to your InvestNow Transaction Account
  • Only the principal rolls over at maturity, with the net interest credited to your InvestNow Transaction Account
  • Principal and net interest roll over at maturity.

You will receive a notification e-mail, five days prior to the maturity date for your TD, advising you that you can amend the rollover preferences right up to the day before your TD is due to mature/roll over.

Rollovers for BNZ are processed on the maturity date, while rollovers for SBS are processed on the next business day.

What are the cut off & processing times?

Your TD orders are processed once a day – they are sent to each bank at 12pm each working day (no orders are processed during weekends or national public holidays).

Term deposit breaks

Each bank has their own terms & conditions for accepting and processing any break request – you can find those details here.   Break requests will be handled directly between you, us and the relevant bank.  If you wish to raise a break request please complete the contact us form here or email us on contact@investnow.co.nz

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