Earn higher interest in our On-Call account, with your funds held on deposit with NZ registered banks. With no hoops to jump through, no transaction fees and the ability to withdraw your money when you like, you’ll be better off.
Get started nowYour On-Call account is basically your Squirrel transaction account that's automatically created when you register as a Squirrel investor. It's where you deposit money into when you want to make an investment, and where your returns are paid into from your investment.
It's directly linked to your verified bank account, and you can deposit and withdraw money when you like without fees or penalties.
If you haven't set up your Squirrel account, you can here.
Simply by depositing money into it. Whatever's in there automatically earns interest which is calculated every day, and earned monthly.
If and when you use the money to place an investment order, your money will continue earning the on-call interest rate, until the order has been snapped up by a borrower. That means if there's a queue of orders ahead of yours, your money won't be sitting idle earning nothing.
If you've got questions, we've got answers. Have a read below and if you can't find what you're looking for, feel free to give us a call on 0800 21 22 30.
The rate of return is currently 5.25%p.a.
It's a floating rate which means it rises and falls in line with movements in short-term interest rates.
Any money that you put into your Squirrel On-Call account is held in a bank deposit with S&P AA- rated NZ registered main banks. To be 100% clear, the money isn't invested anywhere other than at a bank.
This is different to when you place an investment order, which means the money is lent to our Squirrel borrowers. You can read about our investing options on this page.
The money is held on trust with a major New Zealand bank, which Squirrel earns interest on. We pass interest earned to anyone with money in their Squirrel On-Call account because we can, and more importantly, we want to.
Nope, you'll automatically earn interest on any money you have in your On-Call account. If you're waiting for an investment order to be matched, that money will earn the On-Call interest rate too, until it's invested at the going investment rate.
Yep, we’ll manage this automatically for you.
Nope.
Not at all. There's no reason why you shouldn't be able to deposit and withdraw when you like, it's your money.
If you withdraw from your On-Call account, you can expect the money to be in your main bank account in around 2 hours.
Through the power of peer-to-peer lending, you also have the option of investing in loans, and earning up to 7.75%p.a. whilst helping out local homeowners. Set up and manage your investments inside your Squirrel account, with the opportunity to sell your investment when you want your money back.
Whilst past performance cannot guarantee future performance, no Squirrel investor has ever lost a cent.