A term deposit is easy to understand – you choose how long you want to invest (your term) and you’ll know exactly how much your return will be. Before investing, please consider if you’ll need access to your money as with a term deposit you shouldn’t expect to access your money before the maturity date. If you do need access, our ANZ Business Premium Call Account maybe more suitable
For terms of 180 days or more, interest can be paid at regular intervals (monthly, quarterly, six monthly or annually), at the end of the term or reinvested (quarterly, six monthly or annually) – it’s your choice. Other terms are paid or reinvested at maturity.
7 day ‘cooling off’ period
For Retail and Business Banking customers there is a 7 day ‘cooling-off’ period after you open or reinvest your term deposit. During this time you can cancel your term deposit, or change the term or amount of your investment.
Your investment is locked in until the end of your term to help you save and protect you from changes in interest rates. So if you do need access to your money, our call and savings accounts may be more suitable. If you do however unexpectedly need your money after investing in a term deposit, you can request an early withdrawal. You'll need to let us know if you're suffering from financial hardship (businesses with total ANZ deposits of $2m or more will not qualify for early withdrawal on the grounds of hardship or give us 31 days' notice of the withdrawal. If we agree to let you make an early withdrawal, we’ll reduce your rate by 3% per annum on the amount you withdrawal (your return will not go below 0%).
A copy of the Bank's General Disclosure Statement under the Reserve Bank of New Zealand Act 1989 is available on this website or on request from any ANZ branch, free of charge.
Term Deposits with ANZ are not deposits or liabilities of Australia and New Zealand Banking Group Limited. Australia and New Zealand Banking Group Limited does not stand behind or guarantee ANZ Bank New Zealand Limited.
Australian Prudential Regulatory Authority (APRA) regulates all Authorised Deposit Taking Institution (ADI) in Australia. Australia and New Zealand Banking Group Limited is an ADI however ANZ Bank New Zealand Limited is not an ADI.
Cooling-off period: You have a seven calendar day ‘cooling-off’ period after we open or reinvest your ANZ PIE Fund term investment. During this time you can cancel, or change the term or amount of your investment. If you cancel your ANZ PIE Fund term investment during your cooling-off period, we won’t pay you any return you may have earned during that period. If you change the term or amount of your investment during your cooling-off period, a different rate of return may apply.
Breaking a term investment: Your funds are invested for a fixed term and there are access restrictions during the term of your investment. You can request an early withdrawal from your investment, but we don’t have to agree to let you withdraw your money early. Early withdrawals may be permitted if you give us 31 days’ notice or if you’re suffering from hardship (businesses with total ANZ deposits of $2m or more will not qualify for early withdrawal on the grounds of hardship) as reasonably determined by us. If you make an early withdrawal, we’ll reduce the return payable on the money you withdraw. The rate of return reduction is 3% per annum (your return will not go below 0%) on the amount you withdraw.