Savings account vs term deposit
Heritage Bank Online Saver Account vs term deposit
3.92% a year
5.20% a year for 1 year
Compare on
Interest over 1 year on $50,000
$1,958
3.92% a year
$2,600
5.20% a year · paid at maturity
Over 1 year on $50,000, Heritage Bank Online Saver Account pays $1,958; Heritage Bank's 12-month term deposit pays $2,600.
Worked out on $50,000 until you pick a balance
Heritage BankOnline Saver Account
Heritage BankTerm deposit
Figure by figure
Interest over 1 year
on $50,000
$1,958
nothing to do each month
$2,600
paid at maturity
+$642 · More interest over the term
Rate over the term
a year, on $50,000
3.92%
with its intro rate of 4.85% for the first 4 months
5.20%
fixed for the term
+1.28 · Higher rate over the term
Asked of you each month
Nothing
Nothing
the money stays put
Getting the money out
Any time
no notice needed
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
The same on both
Nothing to compare in these: both say the same.
- AnyoneWho can open it
How they differ
- A savings rate can change at any time. Heritage Bank Online Saver Account's figure holds today's rate for 1 year, with its intro rate of 4.85% for the first 4 months.
- 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 Heritage Bank shares that one $250,000.
Heritage 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 maturity2.25%$94
2 monthsPaid at maturity3.00%$250
4 monthsPaid at maturity4.85%$808
5 monthsPaid at maturity4.00%$833
7 monthsPaid at maturity5.45%$1,590
8 monthsPaid at maturity4.50%$1,500
9 monthsPaid at maturity5.10%$1,912
10 monthsPaid at maturity4.50%$1,875
11 monthsPaid at maturity4.50%$2,063
1 yearPaid at maturity5.20%$2,600
3 yearsPaid annually5.25%$7,875
4 yearsPaid annually5.25%$10,500
5 yearsPaid annually5.25%$13,125
As of 10 November 2026, over 1 year on $50,000, Heritage Bank Online Saver Account pays $1,958 with nothing to do each month; Heritage Bank's 12-month term deposit pays $2,600 at 5.20%. 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.