Need a term deposit?

Term Deposit Account........key features;

- Minimum deposit balance required NZD $5000 (capped at $5m)
- For deposits greater than $5m - please call the branch on details below
- Available in USD$ (min balance US$5000) and CNY (min bal CNY25,000)
- Competitive interest rates
- Partial withdrawal and early withdrawal permissible but subject to conditions and penalty - check fees / charges section or call branch.

Term Deposit Withdrawals

When you invest on a term deposit, you are investing a fixed amount of your money for a fixed term at the agreed fixed interest rate. However, you can ask to withdraw all or part of your term deposit prior to the maturity date for the term deposit:

(a)  by telling us 31 days before you want to withdraw; or
(b)  if you are experiencing hardship (as reasonably determined by us).

If we agree to an early withdrawal for either of the above reasons, you will receive a reduction in the interest paid to you. If the last day of the 31 day notice period falls on a non-Business Day, the amount being withdrawn will be paid to you on the next Business Day.
Effect of withdrawal on interest: A withdrawal may affect the interest rate payable on the remaining amount invested in the Term Deposit.

Interest reduction for early withdrawals

Interest reduction: If you withdraw all or part of a Term Deposit before its Maturity Date in accordance, you might receive a reduction in the interest paid to you on the amount withdrawn. The actual withdrawal rate is subject to the withdrawal date. We will tell you the amount of that reduction at the time you ask to withdraw all or part of your Term Deposit. In some cases, the interest reduction might result in no interest being payable on the amount being withdrawn before the Maturity Date.

For current rates, fees and charges click here.

The bank deducts IRD Withholding Tax at the tax rate you declared. If you didn’t inform ICBC NZ of your tax rate, ICBC NZ will deduct your tax at the highest IRD tax rate.

If you have any questions, please call or visit us at the address or number below.

ICBC NZ Branch Contact
Branch address：2 Queen Street, Auckland City,New Zealand
Phone number：0064 9 374 7266
Opening hours：Mon to Fri 9:00 - 16:00 (close on weekends and public holidays)

This information is for your reference only and is subject to the bank’s Terms and Conditions  click here.