Revolut is now operating as a registered New Zealand bank and is running an introductory savings promo for new users. Unlike traditional notice saver accounts, there are no monthly deposit hoops, balance growth rules, or withdrawal penalties to get the rate.
To claim the offer:
Join Revolut via the link.
Open a Savings account in the app within 1 month of joining.
Deposit funds to start earning 3.50% p.a. (variable) for 4 months on balances up to NZ$50,000.
Key details:
Daily interest & compounding: Interest is calculated and paid into your account every single day.
Instant access: No lock-up periods or penalties if you need to withdraw cash at any point.
No monthly account fees: On the Standard plan ($0/month), plan fees apply on plans above Standard.
Government protected: Covered up to NZ$100,000 under the New Zealand Depositor Compensation Scheme (DCS).
Tax: RWT is automatically deducted and paid to Inland Revenue.
Good to know:
End of promo rates: After 4 months, your rate depends on your plan. On the Standard plan ($0 monthly fees), this is 2.00% p.a. (variable) (or up to 3.00% on Ultra). Plan fees apply on plans above Standard. T&Cs apply.
Cap: Rates on balances above NZ$50,000 are determined by plan tier.
Eligibility: New customers only.
Full Promotion Terms & Conditions
Limited time offer. Available to new customers who open a Savings account within 1 month of joining. Intro variable rate applies for 4 months up to $50,000. Variable plan rates apply after 4 months and above $50,000. T&Cs apply.
NZ Herald
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