Keep your cash on call whilst earning 5.25%p.a. returns

Earn higher interest in our On-Call account, with your funds held securely with NZ registered banks. With no hoops to jump through and the ability to withdraw your money when you like, you’ll be better off.

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100% owned and operated within Aotearoa, we've got your best interest at heart

No minimum amount and no penalties for withdrawing
Withdraw, and it's back in your bank account within 2 hours
Your funds are held securely with major New Zealand AA- rated banks
Opportunity to earn more by investing in residential mortgages

Find out more about investing

Ready to give your savings a boost?

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What is the On-Call account?

Your 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 any penalties.

If you haven't set up your Squirrel account, you can here.

Get the guide to saving & investing with Squirrel

Current balance across Squirrel On-Call Accounts


How do you earn interest with your On-Call account?

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.

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Let's dig into the detail

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.

What is the going interest rate for the On-Call account?

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.

What does Squirrel do with my money?

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.

How are you able to hand out high interest when others can't?

Your money is held on trust with major New Zealand AA- rated banks, which Squirrel earns interest on.  We may deduct a Service Margin from the gross interest rate we receive from the banks, and we pass the rest on to you in accordance with the interest rates published by us from time to time on our website. 

I'm investing with you already, do I need to do anything to earn interest on my Squirrel on-call account?

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.

Will Squirrel deduct Resident Withholding Tax for me?

Yep, we’ll manage this automatically for you.

Will I get hit with any fees?

Whilst we don’t charge added fees, we deduct a modest Service Margin, taken from the interest we receive from the bank(s) where your On-Call Account money is held. The interest rate you earn on your On-Call Account balance will be as shown on our website.

Will I be penalised for taking money out?

Not at all. There's no reason why you shouldn't be able to deposit and withdraw when you like, it's your money.

When I make a withdrawal, how long does it take for the money to come back into my bank account?

If you withdraw from your On-Call account, you can expect the money to be in your main bank account in around 2 hours.

Start earning interest with your Squirrel On-Call account

  1. Sign up for a Squirrel account
  2. Deposit whatever amount you want into your On-Call account
  3. You'll automatically start earning interest
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Man looking at his phone, smiling

Earn even more interest with term investments

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. 

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Watch Dave, head of saving and investments, answer our most frequently asked questions

Want to chat to us about saving or investing with Squirrel?

Book a call and we'll be happy to chat through anything you're unsure about.

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