Savings account vs term deposit
IMB Bank Reward Saver Kick Start vs term deposit
5.60% a year
5.30% a year for 1 year
Compare on
Interest over 1 year on $50,000
$2,800
5.60% a year, conditions met
$2,650
5.30% a year · paid at maturity
Over 1 year on $50,000, IMB Bank Reward Saver Kick Start pays $2,800 with its conditions met; IMB Bank's 12-month term deposit pays $2,650.
Worked out on $50,000 until you pick a balance
IMB BankReward Saver Kick Start
IMB BankTerm deposit
Figure by figure
Interest over 1 year
on $50,000
$2,800
with its conditions met
+$150 · More interest over the term
$2,650
paid at maturity
Interest over 1 year without meeting the conditions
on $50,000
$0
at the base rate
$2,650
no monthly conditions
Rate over the term
a year, on $50,000
5.60%
with its conditions met
+0.30 · Higher rate over the term
5.30%
fixed for the term
Asked of you each month
- A deposit of at least $20
- No withdrawals
Nothing
the money stays put
Getting the money out
Any time
a withdrawal can cost that month’s bonus
Locked for 1 year
31 days’ notice to break it early, usually at a lower rate
Can the rate change?
Yes, at any time
the bank sets it
No
fixed for 1 year
Minimum to open
None
$1,000
Who can open it
13 to 29 year olds
Anyone
How they differ
- A savings rate can change at any time. IMB Bank Reward Saver Kick Start's figure holds today's rate for 1 year.
- A term deposit's rate is fixed for the term, but the money is locked in: breaking it early needs 31 days' notice and usually costs some of the interest.
- Both are covered by the Financial Claims Scheme, up to $250,000 per person at each bank. Money in both at IMB Bank shares that one $250,000.
IMB Bank Term Deposit at every term
The rate the balance above gets at each term, and the interest it pays over that term.
1 monthPaid at maturity1.25%$52
9 monthsPaid at maturity2.25%$844
1 yearPaid at maturity5.30%$2,650
3 yearsPaid annually4.50%$6,750
4 yearsPaid annually4.00%$8,000
5 yearsPaid annually4.00%$10,000
As of 9 November 2026, over 1 year on $50,000, IMB Bank Reward Saver Kick Start pays $2,800 with its monthly conditions met; IMB Bank's 12-month term deposit pays $2,650 at 5.30%. Figures are the bank's published rates, worked out on the balance above as simple interest. Each row says which figure is higher; it doesn't say which one suits you.