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ASB Supports Savers With New 1.75% Market Leading Term Deposit Rate
ASB is increasing its term deposit rates, including lifting the 60-month term deposit rate by 0.75% to a market leading 1.75%.
ASB’s Executive General Manager of Retail Banking, Craig Sims, says ASB is taking the opportunity to offer Kiwis with cash savings some highly competitive term deposit options while also balancing the needs of borrowers who have been benefiting for some time from an extremely low interest rate environment.
“While there’s been much focus on home loan rates, customers with funds to invest are often seeking to balance their portfolios, and term deposits can be an important part of the mix.
“Given the performance of the New Zealand economy through COVID-19 has been stronger than anyone anticipated and our commitment to helping the financial progress of all New Zealanders we’re pleased to be able to support our savers with these market leading term deposit rates.”
In addition to the new 60-month rate, ASB has also increased the rates for deposit terms from 9 to 48 months. The below rate changes are effective from Tuesday 2 March 2021.
| Updated term deposits | Old rate | New rate |
| 9 months | 0.75% | 0.80% |
| 12 months | 0.75% | 0.80% |
| 18 months | 0.80% | 1.00% |
| 24 months | 0.80% | 1.00% |
| 36 months | 0.90% | 1.25% |
| 48 months | 1.00% | 1.50% |
| 60 months | 1.00% | 1.75% |
More information on term deposit rates can be found at ASB’s Term investment rates
ASB Bank
Helping you get one step ahead.
In 1847, ASB opened as the Auckland Savings Bank with the pledge: 'to serve the community; to grow and to help Kiwis grow'. And that is very much what ASB is about today.
ASB is a leading provider of integrated financial services in New Zealand including retail, business and rural banking, funds management and insurance.
ASB strives to consistently provide its customers with outstanding service and innovative financial solutions. They're dedicated to providing simple financial products that allow their customers to bank with them how and when they want.
We all have our own ways to measure progress, and our own stories about the things that matter to us. Whatever way you choose to measure progress, and whatever your goals, ASB is there to help you get one step ahead.
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