ANZ Term Deposit

ANZ Term Deposit

Min. Opening Deposit

5,000

Account Keeping Fee

0

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

  • Minimum investment of $5,000.
  • Choice of terms between one month and five years
  • No setup or monthly fees

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 over a period of 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
1.65%
3 month interest rate
1.90%
4 month interest rate
1.65%
6 month interest rate
1.95%
9 month interest rate
1.65%
12 month interest rate
2.05%
24 month interest rate
2.35%
36 month interest rate
2.40%
48 month interest rate
2.45%
60 month interest rate
2.65%
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?

  • Monthly fees. No monthly maintenance fees are deducted from your savings with the ANZ term deposit.
  • 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.
  • Minimum deposit. ANZ requires a minimum deposit of $5,000 to open a term deposit account.
  • Terms. You can choose to be locked into terms ranging from one month to five years.
  • Interest payment frequency. You can choose to have your interest payments made monthly, quarterly, half yearly or annually.
  • Early withdrawal. 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.
  • Account maturity. 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.

Pros

  • No monthly service fee.
  • No establishment or set-up fee.

Cons

  • Rates are calculated on a minimum investment of $5,000.

How do I apply for the ANZ Term Deposit online?

If you believe that the ANZ Term Deposit is the right savings product for you, and you are not already an existing ANZ customer, you will need to visit a local branch or call the bank in order to apply.

Click “Go to Site” if you are an existing ANZ account holder and have ten free minutes to fill out the application. Before getting started, check to see if you are eligible for a term deposit account from ANZ:

  • 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.

ANZ will also ask for certain documentation which you should have readily available in order to make filling out the application easier:

  • 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.

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

 

Currently I am holding a term deposit account that will be mature soon. Can I negotiate my rates at other ANZ branches instead of going to my original ANZ branches where I opened my account?

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

What is interest rates for term deposits over 100.000 at ANZ Australia?

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

Can I open an online saving account at a Citibank branch in Melbourne. If so where?

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.

Can I open two separate Citibank Online Saver Accounts linked to the same Citibank account offset account ?

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.

I have $600,000 to invest for three to four months before buying a house. What is the best place to lodge it to earn maximum interest please?

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.

What are the ATM fees and which ATM’s should be used?

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.

I have $490,000.00 available to deposit for 4 months. Please advise what interest rate is available for this term.

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.

What is the BSB number for Citibank , required for transfer of funds from linked account to online (citibank) account ?

The BSB number for Citibank Australia is 242 200.

Can I directly transfer money from my online savers account to another international citibank account? What is the maximum amount that is allowed per day? Are there any fees for the transaction?

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.

 

Back to top Back to top Back to top

Ask a Question

You are about to post a question on finder.com.au

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Disclaimer: At finder.com.au we provide factual information and general advice. Before you make any decision about a product read the Product Disclosure Statement and consider your own circumstances to decide whether it is appropriate for you.
Rates and fees mentioned in comments are correct at the time of publication.
By submitting this question you agree to the finder.com.au privacy policy, receive follow up emails related to finder.com.au and to create a user account where further replies to your questions will be sent.

2 Responses to ANZ Term Deposit

  1. Default Gravatar
    Liz | October 31, 2016

    Best interest rate for 6 month term deposit

    • Staff
      Anndy | October 31, 2016

      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

Ask a question
feedback