Term Deposits

Lock in to one of our Term Deposit Options and build you wealth.

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  • Choose your investment term

  • Interest calculated daily

  • Interest paid at regular intervals or on maturity

  • Interest paid to any account of your choice

  • You are advised of your options prior to maturity, including reinvesting for a further term 

Learn more about term deposits in our helpful guides and information section.


NZCU Steelsands offers competitive term investment rates


from 0.80% p.a.*

Open a serious saver account

for 6 month term


from 0.90% p.a.*

Open a Retirement saver account

for 12 month term

Investment interest rates

Term   Investment rate 
3   months 0.30% p.a.
6   months 0.70% p.a.
12 months 0.70% p.a.


> Interest is calculated on a daily basis and paid at maturity.  Interest can be paid to a nominated account monthly.
   For deposits of 6 months and over, interest can be compounded quarterly.

> Investors are advised of their options prior to maturity.

> Maximum deposit $100,000 per member.

> Minimum deposit is $1,000

> These are indicative rates only and may be subject to change without notice.

> Where a term deposit is withdrawn prior to the maturity date, the break rate fee will be the agreed Term Deposit Interest Rate at time of application less the Term Deposit Break Rate.  

   The current maximum break rate to be applied is 1%

    e.g. Original investment 12 months 3.5% less 1% leaving 2.5% as the interest rate applied.  
    Early withdrawals will only be considered for genuine hardship.

 Effective date: 24th September 2021


Apply now

 Helpful Guides and Information


What is a term deposit & how does it work?

Looking at investing in your future and earn high interest on your savings as you do? Whether you are saving for a car, holiday, a home or retirement, a Term Deposit investment is an easy, risk-free way to earn great rates on your savings. Find out what a Term Deposit investment is, how it works, and why it could be the perfect way for you to invest.
More on 'What is a Term Deposit & how does it work?'


What return can I expect on a term deposit?

Credit Unions currently offer some of the highest returns on investment, but what does this mean for you, your savings, and the return you can expect to receive from a Term Deposit? Read on to find out what these rates mean for you, and how much you can expect to make with the high fixed rate of a Term Deposit Investment.
More on 'What investment return can I expect on a Term Deposit?