Which investment is right for me?

Term Investments

$500 minimum amount on establishment
  • Easy way to earn more interest over a fixed timeframe
  • Simple to set up using our online application form
  • Either compound and grow your investment, or take interest as additional income

If you’re looking to lock funds away for a longer period and do not require access to your money, you will be rewarded with a higher rate of return than for funds on a Call Investment. A Term Investment will be repaid or re-invested at the end of an agreed term in accordance with your instructions.

The investment rate at the start of your Term Investment is fixed for the duration of the agreed term unless you have requested that WBS repay your investment prior to maturity and WBS has agreed to do so.

Depending on the type of Term Investment chosen, interest payments are made either monthly, quarterly, six-monthly, annually or on maturity.

Interest payments cannot be compounded back into your Term Investment; interest must be paid into a WBS Call Investment or to an external domestic third party bank account.

Interest when paid at maturity can be either reinvested or paid out.

There are no fees and charges payable by you in connection with your Term Investment, except when you request repayment of your Term Investment before maturity. If the request is agreed by WBS then a flat fee equal to the higher of: $25.00; or 1.00% of the amount withdrawn.

In addition, the interest rate applying to your Term Investment may be retrospectively adjusted to the rate that would have applied for the actual term of your initial investment.

Call Investments

$500 minimum amount on establishment
  • Easy access to your money whenever you like
  • Interest calculated daily and compounded monthly
  • No set up or withdrawal fees

If you’re looking for quick and easy access to your money with no fixed term, this is the account for you. The interest rate applicable to Call Investments can change from time to time at the sole discretion of WBS without prior notice. Any change will apply to your Call Investment from the date of the interest rate adjustment.

Interest on your Call Investment is paid monthly.

Insurance

Invest in your future by protecting yourself, your assets and your lifestyle against the unexpected. While we don’t offer insurance services ourselves, we partner with Provincial Insurance brokers – brokers who share our commitment to helping locals and our community protect their future.

Get a quote

IRD changes to Resident Withholding Tax (RWT) from 1 April 2020

From April 1 2020 the RWT rate for investors who have not given us their IRD number has been increased by the IRD from 33% to 45%. If you have given us your IRD number but have not nominated a RWT rate we must also now automatically charge RWT at the ‘default’ rate of 33%. To update your IRD number or RWT rate please contact us on (06) 370-0070, or email [email protected] For more information about these changes and rates please visit the Inland Revenue Department.

No more cheques received from 30 June 2021

As a result of trading banks phasing out cheques, WBS will no longer be able to receive payment via cheque from 30 June 2021. Please discuss other ways you can make a payment with us.