The Westpac Term PIE Fund works in a similar way to a term deposit where investments are for a fixed term and fixed return. Like a term deposit, the Westpac Term PIE Fund is a low risk investment which invests solely in a New Zealand dollar, interest bearing account with Westpac.

For some investors, the Westpac Term PIE Fund may be a tax efficient alternative to a term deposit.

The Westpac Term PIE Fund is a unit trust and registered as a Portfolio Investment Entity ('PIE') for tax purposes. This means your investment returns are taxed at your Prescribed Investor Rate ('PIR') up to 28%. By comparison, if you invest in a term deposit, you'll be taxed at either 30%, 33% or 39% on interest.

Click here for further details on the Westpac Term PIE Fund.

Click here for our latest Westpac Term PIE Fund rates of return.

Investments made in the Westpac Term PIE Fund do not represent bank deposits or liabilities of Westpac New Zealand Limited or any other member of the Westpac group of companies, and are subject to investment and other risk. No Westpac company or any person guarantees the Westpac Term PIE Fund's performance, returns or payment of capital. You can get a copy of the current Disclosure Statement for Westpac New Zealand Limited, and a copy of the term sheet for Westpac Term PIE Fund from any Westpac branch in New Zealand free of charge. Rates of return quoted are subject to change and are not available to financial institutions. Full details of the terms and conditions are available from any Westpac branch in New Zealand.

This material is provided for information purposes only and is not a recommendation or opinion in relation to any term investment products.