If you’re looking for a place to lock your savings away, ANZ’s Advance Notice Term Deposit could be just the place. With a 9 month rate of 0.35% and rates up to 0.40% on deposits from 5 years, whether you deposit your funds with ANZ for a short or long period, you could earn a fair amount in interest. Keep in mind, the minimum deposit amount is $5,000, so if you have a big stash that you don’t need to touch for a little while, this may be a term deposit worth considering.
Whether you’re a commitment-phobe or not, ANZ’s Advance Notice Term Deposit has a wide variety of terms that could suit your savings strategy. At the moment, ANZ is offering a rate of 0.40% on 1 year terms which could be the perfect short stay option for your savings while you figure out what to do next.
In addition, ANZ have an instant rollover feature, so if you decide to keep your money locked away once your term reaches maturity, you can. Just bear in mind that your rate may be subject to change after the initial loan period.
ANZ don’t only offer rates on shorter terms though. On its 3 year term it offers a 0.40% interest rate, and 0.40% on 5 year terms. If you have a long term goal and you need to keep your hands off your money, this could be a great way to ensure your money stays out of arm’s reach and earning interest.
There is also a 31 day notice restriction on ANZ’s Advance Notice Term Deposit, meaning if you want to break your fast and withdraw from your savings, you must give at least a month’s notice before you have access.
With its current special offer on 10 month terms, the ANZ Advance Notice Term Deposit could suit anyone with a short-term savings goal who has a solid savings stash their wanting to earn interest on.
Keep in mind this term deposit is not for small bags of cash, as the minimum deposit amount is $5,000. Also remember that you must give 31 days notice if you want to withdraw your funds.
Different interest rates apply to different amounts or different interest payment frequencies.