Asb Bank Limited

ASB Bank Deposit Rates

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ASB Bank offers a variety of deposit accounts to suit different needs. Whether you’re looking for a savings account to grow your money, a term deposit to earn a higher interest rate, or a business deposit account to manage your cash flow, ASB Bank has an account for you.

What are ASB Bank’s deposit rates?

ASB Bank’s deposit rates vary depending on the type of account and the term of the deposit. For example, savings accounts typically offer lower interest rates than term deposits.

And longer-term deposits typically offer higher interest rates than shorter-term deposits.

Here are some examples of ASB Bank’s deposit rates as of October 20, 2023:

  • Savings Plus account: 2.90% p.a.
  • ASB Cash Fund: 2.90% p.a.
  • 6-month term deposit: 6.00% p.a.
  • 12-month term deposit: 6.10% p.a.
  • 36-month term deposit: 6.10% p.a.

How to choose the right ASB Bank deposit account

The best way to choose the right ASB Bank deposit account for you is to consider your individual needs and budget.

If you’re looking for a savings account to grow your money, the ASB Savings Plus account is a good option. It offers a competitive interest rate and no monthly account fees.

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If you’re looking for a term deposit to earn a higher interest rate, the ASB Cash Fund is a good option. It offers a high interest rate for a term of 30 days.

How to open an ASB Bank deposit account

You can open an ASB Bank deposit account online, by phone, or at an ASB Bank branch. To open an account online, you’ll need to provide some basic information about yourself, such as your name, address, and date of birth.

You’ll also need to provide your bank account details so that ASB Bank can transfer your deposit into your new account.

Pros and cons of ASB Bank deposit accounts

Here are some of the pros and cons of ASB Bank deposit accounts:

Pros:

  • Competitive interest rates
  • Variety of account types to choose from
  • Easy to open and manage your account
  • Good customer service

Cons:

  • Some accounts have monthly account fees
  • Interest rates can change at any time
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