A survey by RaboDirect found 73% of New Zealanders now have cash savings compared to 47% in 2010, while the number of people not saving has more than halved to 11%.
RaboDirect's general manager Melanie Templeton says there has been a profound shift in people's savings habits.
However, 69% of respondents said they could not be bothered shopping around between banks or hunting out the best interest rates.
Ms Templeton says standardised league tables showing the range of interest rates on offer could help savers make better decisions about where to invest their money.
