GrowPay Savings
Make your funds work harder with GrowPay
At GrowPay, we understand that farming income can be seasonal and unpredictable. That’s why our savings accounts are built with flexibility in mind—helping you make the most of your surplus funds when times are good, while keeping them accessible when you need them. Whether you're planning ahead for next season or setting aside funds for future investments, we offer smart, tailored solutions that work as hard as you do—giving you confidence, control, and peace of mind.
Plant the seeds of financial growth with GrowPay
_JPG.jpg)
Disclosure statement
GrowPay has partnered with Xceda Finance Limited to offer competitive interest rates and a range of financial products. Xceda Finance Limited is a licensed Non-Bank Deposit Taker (NBDT) regulated by the Reserve Bank of New Zealand under the Non-Bank Deposit Takers Act 2013. Xceda is the issuer of the term deposit products offered through GrowPay.
The latest Product Disclosure Statement (PDS) can be accessed at www.xceda.co.nz/term-deposits.
Xceda Finance Limited has been assigned a credit rating of 'B Stable' by Equifax Australia Credit Rating Pty Ltd, a Reserve Bank-approved rating agency under section 86 of the Non-Bank Deposit Takers Act 2013.
How to apply
To achieve your financial goals with tailored savings options and competitive interest rates, follow the steps below
Step 1
Sign up online with GrowPay and open your Super Saver Account
Step 2
Complete a simple online form and verify your identity.
Step 3
Make a deposit into your savings account.
Step 4
You'll automatically start earning interest.
The rate offered for our Super Saver Account is published on our website, and is subject to change by GrowPay. It is a variable rate, meaning that the rate of interest is not fixed, and may be changed by GrowPay at any time. The rate applicable is also always published in your online account via our Customer Portal. Interest earned during the month is compounded at the end of each month – meaning it is added to the balance in your account.
The minimum amount to open a Super Saver account is $100.00, and the maximum is $100,000. We only accept New Zealand Dollars (NZD).
Your funds will be deposited to your nominated bank account within 1 Business Day. Your nominated account is one New Zealand bank account of your choice that provides safety when making withdrawals. Any withdrawal from your Super Saver Account will be transferred into this chosen account.
There are no fees to open or close the account, or to make any deposit or withdraw. GrowPay is however required by law to deduct NZ withholding tax at your nominated rate.
Pursuant to the Product Disclosure Statement published on our website (GrowPay.co.nz/term-deposits), GrowPay holds all customer deposits in cash at registered New Zealand banks, NZ government issued bonds, or in loans advanced to other GrowPay customers.
GrowPay has partnered with Xceda Finance to deliver its deposit products. Xceda is a licensed deposit taker regulated by the Reserve Bank of New Zealand (RBNZ). Under the new Deposit Takers Act 2023, a Depositor Compensation Scheme (DCS) will take effect from 1 July 2025. This scheme provides added protection and peace of mind for customers—ensuring that in the event of a licensed deposit taker's failure, eligible deposits are covered up to $100,000 per depositor, per institution. Xceda is included in the DCS, meaning that GrowPay customers’ Term Deposits and Savings Accounts offered through Xceda are covered by this government-backed scheme.