Term deposits FAQs
Term deposits explained
The principal differences are:
- Termination with 31 days’ notice. If you wish to access your funds in an ANZ Advance Notice Term Deposit prior to the end of your investment term, you will be required to give ANZ 31 days’ notice. Before maturity or after your grace perioddisclaimer ends, any request for an early withdrawal or transfer of all or part of your funds in your ANZ Advance Notice Term Deposit will be returned to you 31 days after the date we received your request. If the 31st day falls on a non-business day, your funds will be returned the next business day. If the maturity date is before the expiry of the 31-day notice period, your funds will be returned to you on the maturity date. If you are suffering financial hardship, please contact ANZ to discuss whether earlier disbursement is possible.
- Interest rates change with each rollover. If you consent to reinvest your ANZ Advance Notice Term Deposit at maturity in a new ANZ Advance Notice Term Deposit, then ANZ will do this, and the interest rate applicable at reinvestment will apply to the new term. This interest rate may be lower or higher than the interest rate on your current ANZ Advance Notice Term Deposit. Higher interest rates may be available for other investment terms or for a different deposit product with a comparable term. Please contact us within the grace perioddisclaimer to obtain details of other current interest rates and any special offers. If your circumstances change or this product is no longer suitable for you, please contact ANZ at or prior to the maturity date, or within your grace perioddisclaimer to make alternative arrangements.
The minimum investment amount for an ANZ Term Deposit and ANZ Advance Notice Term Deposit is $5,000.
Depending on the investment term, interest payment frequency can be monthly, quarterly, semi-annually, annually or at maturity. Please check the ANZ Savings and Transaction Product Terms and Conditions (PDF 408kB) for details.
ANZ Advance Notice Term Deposits are priced more competitively to recognize the restriction of 31 days’ notice to withdraw or transfer your funds before maturity.
Withdraw funds early
The early withdrawal or transfer of your funds will incur an interest reduction, and an administration fee is applicable. See ANZ Savings and Transaction Product Terms and Conditions (PDF 408kB) for more information about ANZ’s fees and charges.
Will I be allowed to break the ANZ Advance Notice Term Deposit to meet unexpected expenses or manage emergency situation?
ANZ Advance Notice Term Deposits are suitable for customers who do not have a foreseeable need to access their funds prior to maturity. However, if you are facing hardship, you will need to call ANZ’s dedicated Hardship team (1800 092 536 between 9am and 6pm AEST, Monday to Friday) to discuss your situation and options.
Yes. ANZ will send you a Record of Confirmation outlining your break request with your investment and disbursement details. If you cancel your break notice, ANZ will send you a Record of Cancellation to confirm your break notice cancellation.
A break request can be cancelled up to two business days prior to the completion of the 31 day notice period (disbursement date). If the details of your break request need to be changed after the request has been submitted, you will need to cancel the break request and submit a new request. This will reset the 31 day notice period to start again.
Will I continue to earn interest during the 31 days notice period on my ANZ Advance Notice Term Deposit?
Yes, your funds will earn interest during the notice period.
Once notice is received, ANZ will calculate the date on which the funds will be available. This cannot be extended. However, if the day of disbursement falls on a non-business day then the funds will be disbursed on the next business day.
If you wish to access your funds in a Notice Term Deposit prior to the end of your investment term, you will be required to give ANZ 31 days’ notice. Before maturity or after your grace perioddisclaimer ends, any request for an early withdrawal or transfer of all or part of your funds in your Notice Term Deposit will be returned to you 31 days after the date we received your request. If the 31st day falls on a non-business day, your funds will be returned the next business day. If the maturity date is before the expiry of the 31-day notice period, your funds will be returned to you on the maturity date. If you are suffering financial hardship, please contact ANZ to discuss whether earlier disbursement is possible. Any disbursement of your funds will be as in accordance with your agreed payment instructions and fee and charges may apply.
Term deposit matures
Rollover instructions are required at account opening for an ANZ Advance Notice Term Deposit. You have a choice to rollover your ANZ Advance Notice Term Deposit or disburse your funds at maturity. Your instructions can be changed at any time prior to maturity.
Yes. You can contact us via Internet Banking, phone or visit a branch to roll your ANZ Term Deposit to ANZ Advance Notice Term Deposit during the 7 day grace perioddisclaimer of your maturing ANZ Term Deposit.
Need more help?
Any advice does not take into account your personal needs and financial circumstances and you should consider whether it is appropriate for you. ANZ recommends you read the ANZ Savings and Transaction Product Terms and Conditions (PDF 408kB) and the Financial Services Guide (PDF 104kB) which are available at anz.com or by calling 13 13 14, before deciding whether to acquire, or continue to hold, the product. Fees, charges and eligibility criteria apply.
The 7 day grace period on a term deposit: (a) commences on the first day after the maturity date of your existing term deposit; and (b) only applies to term deposits opened as a result of a rollover or re-investment of funds from a maturing term deposit (i.e. does not apply to new term deposit accounts).
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