ICBC Term Deposit Rates
Compare the latest ICBC term deposit (fixed deposit) interest rates, updated daily. Estimate your returns with our term deposit calculator or see how ICBC stacks up against every major NZ bank.
ICBC Rates
| Product Details | 1 month ↕ | 3 months ↕ | 4 months ↕ | 5 months ↕ | 6 months ↕ | 9 months ↕ | 12 mths ↕ | 18 mths ↕ | 2 years ↕ | 3 years ↕ | 4 years ↕ | 5 years ↕ |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
 ICBC Rating: A Min Deposit: $5,000 | 1.95% | 3.15% | 3.15% | 3.25% | 3.60% | 3.70% | 3.80% | 4.00% | 4.30% | 4.55% | 4.70% | 4.85% |
Last updated: July 05, 2026 at 06:29 AM
ICBC term deposit rates in New Zealand
ICBC (NZ) Limited is the New Zealand subsidiary of the Industrial and Commercial Bank of China — measured by total assets, ICBC is one of the largest banks in the world. Its New Zealand arm is a locally registered bank that offers deposits and everyday banking, serving both local savers and customers with cross-border NZ–China banking needs. ICBC runs a relatively small footprint here compared with the big domestic banks, but it backs that footprint with the scale of its global parent. The comparison table above lets you weigh ICBC against all major NZ banks side by side.
How to read ICBC’s rates table
The rates table at the top of this page lists ICBC’s advertised annual interest rate against each available term — typically running from a few months out to several years. Read across a row to see the headline rate for that period, and note any minimum-deposit threshold or term band shown alongside it. Because rates move regularly, treat the figures here as a guide and confirm the current offer directly with ICBC before committing. You can plug a rate and amount into our term deposit calculator to estimate the interest a given fixed deposit might earn.
Interest payment and compounding options
Like most NZ banks, ICBC generally lets you choose how interest is paid — commonly monthly, quarterly, annually, or at maturity — though exact options depend on the term and product. Taking interest at maturity can allow it to compound over the term, while regular payments suit those wanting a steady income stream. Confirm the payment frequencies ICBC offers, as the choice can affect your overall return.
Minimum deposits and early withdrawal
A fixed-term deposit usually requires a minimum opening amount, and ICBC’s threshold varies by product and term. We don’t publish a specific figure here because it can change — check the rates table or ask ICBC directly. Funds are committed for the agreed term, and withdrawing early typically triggers a reduced interest rate or a break adjustment, and may require notice. Ask ICBC for its current early-withdrawal terms before locking money away you might need.
What drives ICBC’s rate changes
ICBC’s term deposit rates respond to the same forces as other NZ banks:
- Reserve Bank of New Zealand policy — movements in the Official Cash Rate (OCR) feed through to deposit pricing.
- Competition — what other banks are advertising for similar terms.
- Funding costs — wholesale rates and how much the bank wants to attract deposit funding.
- Global conditions — international rate trends, relevant given ICBC’s worldwide network.
How ICBC compares
ICBC’s main distinction is its parentage: it pairs a modest local presence with the standing of one of the world’s largest banking groups, which can appeal to customers managing money or business between New Zealand and China. On rates, it competes term by term rather than always leading the market, so it’s worth comparing its advertised rates against domestic banks for the specific period you have in mind. Retirees comparing income options may also want to review our term deposit rates for seniors guide.
Risks and considerations
Term deposits are low-risk relative to many investments, but a few points apply to ICBC deposits as to any NZ deposit:
- Rate lock-in — a fixed rate protects you if rates fall, but you miss out if rates rise during your term.
- Inflation — if inflation outpaces your interest, real returns shrink.
- Liquidity — your money is tied up for the term, with penalties for early access.
- Deposit protection — check the current NZ deposit-protection arrangements and ICBC’s standing under Reserve Bank regulation.
This is general information, not financial advice. Rates and terms change, so verify the details with ICBC before deciding.
ICBC Term Deposit FAQs
What are the current ICBC term deposit rates?
The ICBC term deposit interest rates shown above are refreshed daily from published market data so you can compare them at a glance. Rates change frequently, so confirm the current rate and any conditions directly with ICBC before investing.
Does ICBC offer special term deposit rates for seniors?
Some New Zealand banks promote term deposit rates aimed at seniors or retirees, while others apply the same rates to all customers. The rates listed here are the standard published rates — contact ICBC to ask about any seniors, retiree or over-65 offers and eligibility.
Is a ICBC term deposit the same as a fixed deposit?
Yes. A term deposit is also called a fixed deposit or fixed-term deposit — money is locked in for a set period at a fixed interest rate. ICBC uses the term "term deposit", but the product works the same way as a fixed deposit.
What is the minimum deposit for a ICBC term deposit?
Minimum deposit requirements vary by product and term. Where a minimum is published it appears in the rates table above. Confirm the current minimum (and any maximum) directly with ICBC.
How is interest paid on a ICBC term deposit?
Most New Zealand banks let you choose when interest is paid — monthly, quarterly, annually, or at maturity — and some offer compounding. The frequency you choose can affect your overall return. Check the options ICBC offers for your chosen term.
What happens if I break a ICBC term deposit early?
Term deposits are designed to be held to maturity. Withdrawing early usually means a reduced interest rate, loss of accrued interest, and sometimes a notice period or fee. Ask ICBC for its current early-withdrawal conditions before you commit.
How is ICBC term deposit interest taxed in New Zealand?
Interest is taxable income. ICBC deducts Resident Withholding Tax (RWT) at the rate tied to your IRD number; PIE term deposits are instead taxed at your Prescribed Investor Rate (capped at 28%). Give the bank your correct tax details and consult IRD or a tax adviser for your situation.