ANZ Advance Notice Term Deposit

Get more flexibility and higher rates when you choose to invest with the ANZ Advance Notice Term Deposit.

Offering higher competitive interest rates than their standard term deposit, the Advance Notice Term Deposit is a versatile savings product with a fixed rate over the investment term.

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Shirley Liu

Last Updated Dec 23, 2020

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Details

Product Name	ANZ Advance Notice Term Deposit (31 days notice required for early withdrawals)
3 month interest rate	0.10%
4 month interest rate	0.10%
6 month interest rate	0.20%
7 month interest rate	0.20%
9 month interest rate	0.25%
12 month interest rate	0.30%
24 month interest rate	0.30%
36 month interest rate	0.30%
48 month interest rate	0.30%
60 month interest rate	0.30%
Minimum Opening Deposit	$5,000
Minimum Age Requirement	12

The rates displayed above are interest rates paid at maturity only. We endeavour to ensure that the information on this site is current and accurate but you should confirm any information with the product or service provider and read the information they can provide.

Minimum Age Requirement	12
Joint account availability	No
Min Deposit	$5,000
Available to children	Not available for children under 12 years of age

Pros

Lock in your money with the certainty of a fixed rate
Wide range of investment terms
No monthly fees

Cons

Large minimum investment amount
31 days notice required if you'd like to access it early

Key features

No fees

With ANZ's Advance Notice Term Deposit there are no set-up, service, or monthly management fees.

Chose your term length

You are given the choice of terms ranging from 1 month to five years.

$5,000 minimum deposit

You are required to make a minimum deposit of $5,000 with this savings product.

Tiered interest rates

The fixed interest rates are competitive, and grow higher when you choose longer terms for your investment. This is the bank's way of thanking you for lending them your money for a longer period of time.

Chose your interest payment frequency

Depending on the length of terms you choose, you can set up your account to receive interest payments monthly, quarterly, half yearly, annually or only at maturity . In some instances you will note a slight reduction in the interest rate if you choose to receive your payments more frequently.

Interest will not be compounded

All payments made to you from this account, both principal and interest, will be by cheque or credit to another ANZ account. The interest is calculated on the daily closing balance but will not be compounded.

Account maturity options

You will be asked upon applying whether you intend to reinvest your term deposit at maturity or withdraw the funds. These instructions can be changed at any time up to seven days after your new terms have taken affect. If you do reinvest, the interest rate may change to reflect the prevailing rate at that time.

Early withdrawal option available

With this account you are permitted to make a whole or partial withdrawal before maturity so long as you provide ANZ with at least 31 days notice. The interest rate will be adjusted according to the percentage of the term that was fulfilled, while any funds left in the account will still continue to earn interest at the same fixed rate. You may only make a partial withdrawal if that leaves the principal balance at $5,000 or more. You are also charged a $30 administration fee for an early withdrawal.

Launch term deposit calculator

How to apply

If you are not already an ANZ customer you will need to visit a branch or call them direct in order to apply for this account. Existing ANZ customers can apply online. This should take about ten minutes to complete, but before beginning check to make sure that you meet the below eligibility requirements and have the following documentation handy. If you don't think this account is right for you, take a look at the alternative accounts offered by ANZ for one that meets your needs.

Eligibility

Minimum age. Applications are accepted from individuals aged 12 or older.
Residency requirements. In order to open an Advance Notice Term Deposit you must be an Australian resident with a residential address.

Depository requirements. You must be able to make a minimum opening deposit of at least $5,000.

Documentation needed

Tax file number. Your tax file number (TFN) or exemption is asked for with interest earning accounts so that the bank is able to apply the correct withholding tax rate to your earnings. It is not obligatory to offer this information, but if you don't you could find that you are being taxed at the highest marginal rate.
Identification. In order to confirm your identity you will be asked for information from your driver's licence, passport or Medicare card.
Account information. The account name and number for another ANZ banking product is required in order for you to transfer your deposit and receive your interest payments.

What happens after I submit my application?

The Advance Notice Term Deposit is activated once the opening funds have cleared into the account. You will then begin to receive your interest payments as you set forth in your account opening instructions.

Shirley Liu

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Shirley Liu is Finder's global program manager. She was previously the publisher for banking and investments and has also written comparisons for energy, money transfers, Uber Eats and many other topics. Shirley has a Master of Commerce and a Bachelor of Media, Journalism and Communications from the University of New South Wales. She is passionate about helping people find the best deal for their needs.

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2 Comments

Finlay
November 18, 2016

Where is “Go to Site” link to begin filling out an online application form for advance notice term deposit.

finder Customer Care

May
November 18, 2016

Hi Finlay,

Thanks for your question.

At the moment, the “Go to site” button on this page is not yet available. However, if you wish to apply for the ANZ Advance Notice Term Deposit, you may head over to ANZ’s website directly and submit your application there.

Cheers,
May

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