ANZ Term Deposit

ANZ Term Deposit

Min. Opening Deposit

5,000

Account Keeping Fee

0.00

With a fixed interest rate spread out over terms you choose, you can start making plans for your financial future.

  • Up to 1.70% p.a. for a 6 month deposit
  • Minimum investment of $5,000
  • Choice of terms between one month and five years
  • Interest payments available monthly, quarterly, half yearly or annually

Product details

The ANZ Term Deposit is a high interest savings product that locks your money away until the terms you set have been met. Terms can range from one month to five years, allowing you to meet short term saving plans or a long term financial goal. It has no monthly fees and provides you with choices on how and when your interest payments are made.

ANZ also offer Advance Notice Term Deposits - if you need to access your funds prior to the end of your investment term, you will be required to give 31 days notice.

Product Name
ANZ Term Deposit
1 month interest rate
1.20%
3 month interest rate
1.55%
4 month interest rate
1.40%
6 month interest rate
1.70%
9 month interest rate
1.40%
12 month interest rate
1.70%
24 month interest rate
2.10%
36 month interest rate
2.05%
48 month interest rate
2.10%
60 month interest rate
2.40%
Min Deposit
$5,000
Joint Application
Yes
Minimum Age Requirement
12
Covered by Government Guarantee
Yes (Up to $250,000 per person, per institution)

What are the features of the ANZ Term Deposit?

No monthly fees

No monthly maintenance fees are deducted from your savings with the ANZ term deposit.

Tiered high interest rates

The interest rates are fixed with the term deposit and tiered according to how long you choose to invest and the amount of your investment.

$5000 minimum deposit

ANZ requires a minimum deposit of $5,000 to open a term deposit account.

Choose your term length

Not everyone will be comfortable locking their money away for five years at a time. ANZ allows you to choose your term ranging from one month to five years.

Choose your interest payment frequency

You can choose to have your interest payments made monthly, quarterly, half yearly or annually.

$30 early withdrawal fee

If for any reason you must make a withdrawal from your account before the terms reach maturity, you will be charged an administration fee of $30 and your interest earned will be adjusted to reflect the shorter term.

Automatic roll-over

Unless you notify ANZ in advance, your term deposit will be rolled over into a new one when it reaches maturity. This could be with a new interest rate if they have changed since you first opened the account.

Government Guarantee

Your balance of up to $250,000 in total is guaranteed by the Australian Government Deposit Guarantee Scheme. This amount applies to the total held in all ANZ accounts.

Launch term deposit calculator

Pros

  • $0 Account keeping fees
  • Wide ranges of terms from from 1 month to 5 years

Cons

  • If a withdrawal is made before the term reaches maturity, a $30 administration fee will be applied
  • Minimum investment of $5,000

How do I apply for the ANZ Term Deposit online?

You must have an existing ANZ Everyday Account or Savings account in order to apply for a term deposit online. If you're not sure if a term deposit is the right choice for you, you can compare ANZ's range of high interest savings accounts instead.

Eligibility criteria:

  • Minimum age. You must be at least 12 years of age or older for your application to be considered.
  • Residency requirements. In order to be eligible for a term deposit from ANZ you must be an Australian resident with an Australian residential address.
  • Depository requirements. You will have to be able to make a deposit of at least $5,000 for the account to be opened and begin earning interest.

Documentation needed for the application:

  • Tax file number. As this is an interest earning account, providing ANZ with your tax file number (TFN) or TFN exemption code will help in making sure that the withholding tax on your earned interest is at the correct rate.
  • Identification. An Australian driver’s licence or passport is required as an identifying document in order for your application to be processed. If you do not have either of these, ANZ can provide you with a list of other acceptable forms of identification.
  • US citizens. If you are a United States resident or citizen, you will need to provide your tax identification number (TIN) or Social Security Number (SSN) as required by law.
  • ANZ account. You need to have an ANZ savings or transaction account already active before applying for this account. When completing the application you will be asked for that account number. If you do not already have an account with ANZ, you will need to first apply for one.

What happens next?

Once your application has been reviewed and your initial deposit cleared, ANZ will provide you with the details for your new term deposit account.

I would recommend contacting ANZ directly to discuss your term deposit account and negotiation of rates.

Please refer to this page for the latest on ANZ term deposit rates.

If you’d like to apply for the Citibank online saver account, you can visit your nearest branch. To locate a branch in Melbourne, you can use the ‘Find my Citi’ application on the Citibank website and search using your suburb or postcode.

Generally, you can only use one linked account at a given time from an Australian financial institution. You can change this linked account at any time, but normally you can only have one linked account.

Unfortunately as we’re a comparison service we’re not able to provide personal advice on where to lodge your funds to earn the maximum interest on your savings. I would recommend contacting a financial advisor to find out the best type of account or investment to earn maximum interest.

Please be mindful that you don’t have ATM access to this account. You’ll need to link this to an Australia bank account and access the funds through there.

At the time of writing, the interest rate for this account is 4.00%p.a. for four months on balances up to $499,999.99. For balances above $500,000, the rate at the current time of writing is 2.90%p.a. for four months.

The BSB number for Citibank Australia is 242 200.

You can’t directly transfer money from your online savers account to another international Citibank account. You’ll need to transfer the funds first into your linked Australian bank account, and then transfer the funds again from there.

Generally the limit is $10,000, but you can change this by contacting Citibank, or changing your account settings online. The fees and charges will ultimately depend on which transaction account you’re transferring from.

 

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4 Responses

  1. Default Gravatar
    LizOctober 31, 2016

    Best interest rate for 6 month term deposit

    • Default Gravatar
      MaureenJune 8, 2017

      best interest rate for 6 month term deposit

    • Staff
      ArnoldJune 8, 2017Staff

      Hi Rimu96,

      Thanks for your inquiry.

      You may check this page for 6 months term deposit interests upto 2.80%.

      Hope this information helped.

      Cheers,
      Arnold

    • Staff
      AnndyOctober 31, 2016Staff

      Hi Liz,

      Thanks for reaching out.

      You can compare term deposit accounts through this page. Please do take advantage of the calculator on that page to check which term deposit account can give you high-interest earnings for your particular amount of deposit.

      Cheers,
      Anndy

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