Best Savings Accounts in NZ (2026 Comparison)
Compare savings account interest rates across NZ banks — who offers the best returns for your emergency fund and savings goals?
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Where you keep your savings matters. The difference between a 0.5% and a 5% savings account on $10,000 is $450/year — for doing nothing differently.
Here's how NZ savings accounts compare in 2026.
What to look for
Interest rate
The obvious one. But watch for:
- Base rate vs bonus rate — many accounts advertise a high rate that requires conditions (no withdrawals, minimum deposits)
- Introductory rates — some banks offer high rates for 3-6 months then drop
- Notice periods — some accounts require 32 or 90 days notice for withdrawals
Access
How quickly can you get your money?
- On-call: Instant access, lower rates
- Notice saver: 32-90 day notice, higher rates
- Term deposit: Locked for 3-12 months, highest rates
For an emergency fund, you want on-call. For house deposit savings, a notice saver is fine.
The comparison
Big banks
- ANZ Serious Saver: Competitive base rate + bonus if you deposit $20/month and make no withdrawals
- ASB Savings On Call: Basic rate, easy access
- BNZ Rapid Save: Bonus rate for months with no withdrawals
- Westpac Online Bonus Saver: Bonus rate with $50/month minimum deposit
- Kiwibank Notice Saver: 32-day notice, higher rate than on-call
Challenger banks & platforms
- Squirrel: Often the highest on-call rate in NZ
- Heartland Bank: Competitive term deposit rates
- Rabobank: Good savings rates, NZ deposit guarantee applies
Where to check current rates
Rates change frequently. Check:
- interest.co.nz — NZ's most comprehensive rate comparison
- sorted.org.nz — Government's financial literacy site with comparisons
Which account for what?
Emergency fund ($1,000-10,000)
Use an on-call savings account at a different bank from your spending account. The friction of transferring between banks prevents impulsive dipping.
House deposit ($10,000+)
Use a notice saver (32-day notice). You won't need instant access, and the higher rate compounds nicely over 1-2 years.
Short-term goal (holiday, car)
Use an on-call account with a dedicated name. Most banks let you rename savings accounts — call it "Fiji 2027" or "New Car."
Steady tip: Steady tracks all your accounts across multiple banks in one place. You can see your total savings across ANZ, ASB, Kiwibank — whatever you use — on a single dashboard.
The bottom line
Don't leave savings in your everyday spending account earning 0.1%. Move it to a dedicated savings account — even the difference between 2% and 4% adds up fast. Check interest.co.nz for current rates and switch if you're getting a bad deal.
Written by the Steady Team
Steady is a personal finance app built in New Zealand. We help Kiwis track spending, set savings goals, and understand their money — without spreadsheets or manual budgeting.Learn more about us
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