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.

No reviews yet. Write a review

Shirley Liu

Last Updated Dec 30, 2020

We’re reader-supported and may be paid when you visit links to partner sites. We don’t compare all products in the market, but we’re working on it!

Details

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.

Minimum Age Requirement	12
Joint account availability	Yes
Min Deposit	$5,000
Available to children	Not available for children under 12 years of age

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

Key features

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

How to apply

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

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

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.

Shirley Liu

twitter linkedin

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.

Ask an expert

To ask a question simply log in via your email or create an account.

Click here to cancel reply.

Display Name

Your Email (will not be published)

Your Question

Subscribe me to Finder’s free weekly newsletter for budgeting tools, timely news and savings essentials to take control of your finances

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms of Use, Disclaimer & Privacy Policy and Privacy & Cookies Policy.

Ask a question

4 Comments

Liz
October 31, 2016

Best interest rate for 6 month term deposit

Maureen
June 8, 2017

best interest rate for 6 month term deposit

Arnold
June 8, 2017

Hi Rimu96,

Thanks for your inquiry.

You may check our website for 6 months term deposit interests up to 2.80%.

Hope this information helped.

Cheers,
Arnold

finder Customer Care

Dee
October 31, 2016

Hi Liz,

Thanks for reaching out.

You can compare term deposit accounts through our website. 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

Types

Term Deposit Guides & Tools

Banks

ANZ Term Deposit