The average bank one year term deposit rate is currently 2.58%, and all-time record low and still trending down, although these new Kiwibank and BNZ rates will take it up marginally to an average of 2.62%. His remaining $10,000 stays in his original Term Deposit at 3.40% with the same maturity date. Money remaining in the Term Deposit. If John had taken out more than $1,000, his remaining balance would have fallen below $10,000. In this case, his Term Deposit interest rate will drop to the rate. Term Deposit rates apply to the first $5 million of total deposits you hold with Kiwibank. If you are investing more than $5 million, please contact us to discuss rates.The effective rate takes into account the potential tax rate.
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