Term Deposits

Watch your hard earned savings grow with a Term Deposit

We offer very competitive investment rates, for deposits ranging from $500 to $1,500,000. Interest is calculated on a daily basis and can be paid at regular intervals or on maturity to an account of your choice.

You are advised of your options prior to maturity, including reinvesting for a further term.

Credit Union Baywide trading as NZCU Central. Terms and conditions apply. The current Product Disclosure Statement, other disclosure statements and rates and fees are available on the Offer Register at disclose-register.companiesoffice.govt.nz, on nzcucentral.nz or on request from NZCU Central. Credit Union Baywide savings are shares secured by a first ranking security over Credit Union Baywide's assets.
Term deposit rates are subject to change without notice.  Term deposits with NZCU Central are subject to approval. Interest is calculated on a daily basis and investors are advised of their options prior to maturity. Unless advised prior, all term deposits will automatically renew on the original term at the interest rates applicable at the time of renewal. 

You must be a NZCU Central member to hold a term deposit with us, but don't worry, joining is easy! Contact one of our 7 branches today and we can help you get up and running.

Can I get my money out early?

It is the Credit Union’s policy not to make repayments prior to maturity for Term Share Accounts. However, in the event of financial hardship or extraordinary circumstances, written application may be made to the Board, which may exercise its discretion to repay the funds in whole or in part. Break rates apply. To find out a break rate, please contact your nearest branch. 

If an early withdrawal is approved by NZCU Central, a reduced rate of interest will apply as follows:
      a) If a term deposit is withdrawn, in full or in part ,within the first 30 days, 0% interest will be applied to the withdrawn portion.
     b) Where the deposit is withdrawn, in full or in part, before the maturity date but after the first 30 days, a reduced interest rate will be applied calculated using the advertised rate at the time the term deposit was opened, for the actual period of time the money was invested (as determined at our discretion), less 2%. The applicable interest rate will not reduce below 0%.