How can I split my Term Investment?

Work out how you can get a better overall return by splitting your term investment over a range of different maturity periods. To help demonstrate this calculator, watch the introductory video below.

Did you know for term investments of one year and over, you may be able to make one withdrawal of up to 20% of your invested amount without loss of returns?  Conditions apply; see our Early Withdrawal Policy for details.

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Things you should know

  • For Westpac term investments of $5,000,000 and over, the calculator uses interest rates/rates of return for amounts of $10,000 – $5,000,000. Interest rates/rates of return for amounts $5,000,000 and over are available on request.
  • For Term Deposits shorter than one year, the ‘Total Interest in Year 1’ is calculated on the assumption the Term Deposit will roll over for the duration of Year 1 at the same interest rate, term, interest payment frequency, payment option and income tax rate.
  • For Term PIE investments shorter than one year, the ‘Total Return in Year 1’ is calculated on the assumption the Term PIE investment will roll over for the duration of Year 1 at the same rate of return, term, return payment frequency, payment option, income tax rate and prescribed investor rate.
This calculator provides indicative results (with some rounding used), and should be treated as a guide only. It does not take into account your personal financial situation or goals and does not constitute a quotation or offer by Westpac in relation to any product or service. Your exact return will depend on various factors including the start date, the term, and the amount of your investment, and the rates that apply at the time. Returns are compounded net of tax (where applicable). All interest rates and rates of return quoted are subject to change at Westpac's discretion, and are not available to financial institutions. Results do not include inflation rate adjustment. Terms, conditions, fees and charges apply to Westpac products and services. You can get a copy of the current disclosure statement for Westpac New Zealand Limited, and a copy of any applicable investment statement or term sheet for your investment from any Westpac branch in New Zealand free of charge. References to third party websites are provided for convenience only. Westpac accepts no responsibility for the availability or content of such websites.

More information on Westpac PIE products (applies to PIE products only)
Investments made in the Westpac Term PIE Fund (the “Fund”) do not represent bank deposits or other liabilities of Westpac Banking Corporation ABN 33 007 457 141, Westpac New Zealand Limited or other members of the Westpac group of companies. They are subject to investment and other risks including possible delays in payment of withdrawal amounts in some circumstances, and loss of investment value, including principal invested. None of BT Funds Management (NZ) Limited (as manager), any member of the Westpac group of companies, Trustees Executors Limited (as trustee) or any director or nominee of any of those entities guarantees the Fund’s performance, returns or repayment of capital.

Effective Return
The Effective Return incorporates the tax benefits of the Westpac Term PIE Fund (the “Fund") so you can compare this with the interest rate on a Term Deposit. It is the rate you’d need to receive from a Term Deposit to match the after tax returns from an investment in the Fund. The Effective Return is calculated based on the Income Tax Rate and PIR that you entered in the calculator. If you have a PIR of 0%, are a trustee of a trust who elects a PIR of less than 28%, or you submit an incorrect Income Tax Rate or PIR, the Effective Return may not be representative of your final return.

Tax Disclaimer
The information shown in this calculator is intended as a guide only, and does not constitute tax advice to any person, and you should not rely upon the content of this information. Taxation legislation, its interpretation and the rates, levels and basis of taxation may change. Different tax rules may apply in respect of New Zealand resident investors and non-New Zealand resident investors. We recommend investors seek independent advice. Neither the manager or trustee of the Westpac Term PIE Fund, Westpac New Zealand Limited, Westpac Banking Corporation ABN 33 007 457 141, or their related companies, nor their directors, officers, or employees accept any liability for any loss or damage of any kind arising out of the use of or reliance on the information provided in this calculator. Please refer to the IRD website ( regarding the calculation of PIRs.