Savings account vs term deposit
IMB Bank Zoo Account vs term deposit
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Compare on
Interest over 1 year on $50,000
$2,375
4.75% a year, conditions met
$2,650
5.30% a year · paid at maturity
Over 1 year on $50,000, IMB Bank Zoo Account pays $2,375 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 BankZoo Account
IMB BankTerm deposit
Figure by figure
Interest over 1 year
on $50,000
$2,375
with its conditions met
$2,650
paid at maturity
+$275 · More interest over the term
Interest over 1 year without meeting the conditions
on $50,000
$50
at the base rate
$2,650
no monthly conditions
Rate over the term
a year, on $50,000
4.75%
with its conditions met
5.30%
fixed for the term
+0.55 · Higher rate over the term
Asked of you each month
- A deposit of at least $10
- 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
Anyone under 13
Anyone
How they differ
- A savings rate can change at any time. IMB Bank Zoo Account'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 2 November 2026, over 1 year on $50,000, IMB Bank Zoo Account pays $2,375 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.