If you’re hoping to stash away a lump sum for the long term without the hassle of set-up costs or monthly service fees, then the ANZ Term Deposit may be what you’re looking for. With terms of up to 5 years, the ANZ Term Deposit offers the certainty of fixed returns for any savers searching for a set-and-forget option.
The ANZ Term Deposit offers terms from as short as 1 month all the way up to 5 years. Savers who invest for 6 months will be able to receive a 0.15% p.a. interest rate when they invest between $5,000 (minimum) and $99,999 (maximum). At 2 years, the interest rate increases to 0.30% p.a., while investing your funds for 5 years earns you a 0.40% p.a. interest rate.
Bear in mind that the ANZ Term Deposit has an automatic rollover feature, so make sure to let ANZ know if you want to withdraw your funds at the end of your investment period. If you don’t notify them, your account will roll into a new term and you might get a lower interest rate.
The ANZ Term Deposit could be a good choice for Aussies looking for a low-maintenance place to store away a bit of cash for the long term.
The ANZ Term Deposit doesn’t pay interest to another bank, so you’ll need to have an ANZ bank account to receive interest on your term deposit.
Different interest rates apply to different amounts or different interest payment frequencies.
This product is not currently reviewed.