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do term deposits count as genuine savings for a mortgage
NelsonNewBuyer·8/03/2026·43 views·2 replies·Partner answered
i've got most of my deposit sitting in a term deposit that rolls over every 3 months. will the bank count that as genuine savings or do i need it in a regular account?
2 Replies
Dustin LindaleVerified Partner previewHelpful answer preview4/04/2026
Yeah that’s totally fine — having your deposit in a term deposit isn’t an issue. From a bank’s point of view, they’re mainly looking to see that you’ve got at least 5% genuine savings (so your own money, not gifted). That can be made up of things like KiwiSaver, cash savings, investments (once they’re turned into cash), and term deposits — so your setup ticks the box. The main thing with term deposits is less about...
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