Heartland Cash PIE | Heartland Bank

What makes Cash PIE different from other call accounts?

When you earn interest from a PIE, the tax you pay is based on your Prescribed Investor Rate (PIR) - a special tax rate just for PIE accounts. You will pay less tax than with a regular savings or investment account if your income tax rate is 30%, 33% or 39%.

Lower tax on earnings

You could pay less tax on the interest you earn, thanks to the maximum PIE tax rate (PIR) of 28%.

Keep more of your earnings

Because of the lower tax rate, you can end up with more money in your pocket compared to a standard account.

No impact on your tax bracket

PIE income doesn’t get added to your personal income, so it won’t push you into a higher tax bracket.

This calculator is a tool to estimate the annual tax savings on a Cash PIE when compared against a comparable bank savings account on the same interest rate, with interest compounding monthly. These tax savings are estimated using our current variable interest rate, a Prescribed Investor Rate (PIR) of 28%, your estimate of annual income before tax, and your Residential Withholding Tax (RWT) rate. To prepare this estimate, we have needed to make some assumptions: firstly, that your RWT and PIR will remain unchanged, secondly, that you will not add funds to or withdraw funds from the account over the coming twelve months, and thirdly, that the interest rate on the account will not change for the same period. Our variable interest rates are subject to change without notice. Check out our current Disclosure Statement, Product Fact Sheets and Account and Service General Terms and Conditions here for more information.

Why choose a Heartland Cash PIE?

Tax capped at 28%

No minimum monthly deposit or account fees

Same-day access to your money on business days, no notice needed

Competitive interest rate

Canstar's Savings Bank of the Year

We are very proud to be awarded Canstar’s Bank of the Year - Savings for eight consecutive years! This achievement is awarded to the institution that provides the strongest combination of products, accounting for the price positioning, features, savings tools and flexibility of the products assessed within Canstar's Savings Account Star Ratings profiles, as well as supporting savers through a competitive Term Deposit offering.