ANZ Term Deposit
With a fixed interest rate spread out over terms you choose, you can start making plans for your financial future.
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.
|Product Name||ANZ Term Deposit|
|3 month interest rate||0.05%|
|4 month interest rate||0.05%|
|6 month interest rate||0.10%|
|7 month interest rate||0.10%|
|9 month interest rate||0.15%|
|12 month interest rate||0.20%|
|24 month interest rate||0.20%|
|36 month interest rate||0.20%|
|48 month interest rate||0.20%|
|60 month interest rate||0.20%|
|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.|
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.
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.
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.
How to applyYou 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.
- 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.
When applying for any banking product in Australia, the following documentation will be asked for:
- 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 after I submit my application?
Once your application has been reviewed and your initial deposit cleared, ANZ will provide you with the details for your new term deposit account.