ANZ increases Term Deposit rate to help savers

ANZ today announced it will increase 11-month Term Deposit to 2.35%pa to offer a highly competitive savings rate in the current record-low rate environment.

The new 11-month Advance Notice Term Deposit rate will be effective from Friday 7 June, 2019.

ANZ Group Executive, Australia Retail & Commercial, Mark Hand said: “We recognise it has not been an easy environment for customers who are trying hard to save their money and get a decent return.

“In making this decision we have sought to get the balance right to provide a highly competitive rate for savers over an 11-month term on the back of yesterday’s announcement to cut home loan rates.

“We’re making an effort to provide an attractive option for savers and retirees who rely on interest income.”

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