Heartland Term PIE | Heartland Bank

What makes a Term PIE different from a Term Deposit?

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 tax savings on a Term PIE when compared against a standard Term Deposit on the same interest rate and term, with interest compounding quarterly. These tax savings are estimated using our current effective interest rate, a Prescribed Investor Rate (PIR) of 28%, your estimate of annual income before tax, and your Residential Withholding Tax (RWT) rate. The estimate is based on your RWT and PIR remaining unchanged during the term of investment. Tax savings are calculated over the full term of investment. Our fixed interest rates are subject to change without notice. Please note that a Term PIE requires a minimum investment of $1,000. 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 Term PIE?

Our investment terms range from 30 days to five years, offering competitive interest rates and flexible options to suit your individual needs.

Tax capped at 28%

Interest paid out or compounded quarterly

Track growth in the Heartland Mobile App

Competitive interest rates

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.