Moneymaker tool
Savings Switcher
Pop in how much you have saved. We’ll show the interest you’d earn at New Zealand banks, how much tax comes out, and what actually lands in your account each month.
Right now you keep
$0 a month
Interest a year$0
Tax taken$0
You keep a year$0
| Account | Rate | Interest a year | Tax | You keep | vs now |
|---|
How it works
Where the numbers come from
InterestYour balance times the yearly interest rate. We split it into months by dividing by 12. Banks usually pay a little more because interest is added each month and then earns interest too.
TaxBank interest is taxed at your resident withholding tax (RWT) rate, which depends on your income. Cash funds are PIE funds, taxed at your prescribed investor rate (PIR), which is never more than 28%.
SwitchingBefore you move, check fees, how fast you can get your money and any bonus rules. A notice saver pays more but you have to wait 32 to 90 days to take money out.
Rates were collected from interest.co.nz on 26 October 2026, and the main bank savings rates were rechecked against Canstar on 11 November 2026. Tax rates are from IRD. The PIR shown is a guide based on income only; IRD has the full rules. Rates change often, so always check with the bank before you switch. Moneymaker shares general information, not personalised financial advice.