Foreign currency term investment

Earn interest on your foreign currency without converting it to NZ dollars.

Overview

Key features

  • Foreign currency term investments are for a fixed period of time, ranging from 30 to 180 days at a fixed rate of interest (where applicable)
  • In special circumstances, and if we agree, you may be able to withdraw part or all of your investment before the fixed term ends. In deciding whether to agree, we will apply our early withdrawal policy which may change from time to time. A reduced rate of interest will apply. Please refer to our Early Withdrawal Policy for more information.

Available currencies and minimum investment amounts

You can hold a foreign term investment for any period from 30 to 180 days, in any of these major currencies:

Foreign Currency Term Investments - Minimum investments
You can hold a foreign curency term investment for any period from 30 to 180 days, in any of these major currencies.
Currency Minimum amount
Australian dollar AUD 8,000
Canadian dollar CAD 8,000
Euro currency EUR 5,000
British pound GBP 4,000
US dollar USD 5,000

For other major currencies please call us on 0800 400 600 or contact a Business Manager.

Interest

How interest is calculated

  • interest for term investments is calculated on the market rate at the time of investment
  • whether or not you receive interest depends on the market interest rate at the time of investment
  • interest is paid on maturity in the currency in which the investment is held

Options at investment maturity

When your investment reaches the term, you have a few options:

  • have the investment and interest automatically reinvested in the same currency or a different one
  • credit the money to your foreign currency account
  • convert the money back to New Zealand dollars

Important note

Unless we are instructed otherwise, the term investment will be automatically renewed on maturity for the same term as the original deposit and at the interest rate paid by the bank at the time of reinvestment.

When required by law, Resident or Non-Resident Withholding Tax is automatically deducted from the interest paid into your foreign currency account.

If you qualify as a non-resident then you can elect for the Approved Issuer Levy to be deducted instead.

Term Sheet for Foreign Currency Term Investments

View our latest Term Sheet for Foreign Currency Term Investments (November 2014)

 

Minimum investment amounts

You can hold a foreign term investment for any period from 30 to 180 days, in any of these major currencies:

Foreign Currency Term Investments - Minimum investments
You can hold a foreign curency term investment for any period from 30 to 180 days, in any of these major currencies.
Currency Minimum amount
Australian dollar AUD 8,000
Canadian dollar CAD 8,000
Euro currency EUR 5,000
British pound GBP 4,000
US dollar USD 5,000

For other major currencies please call us on 0800 400 600 or contact a Business Manager