The ANZ PIE Fund - Term Option has been designed for customers who want tax effective, competitive returns with the assurance of receiving a fixed rate of return for a fixed term.

The minimum investment is $10,000, there are no joining, management or monthly fees and your investment earns a daily return on every dollar invested. Your rate of return is locked for the term so you know exactly how much income your investment will generate.

Distribution options

For terms of 180 days or more, distributions can be either:

  • paid into any New Zealand bank account monthly, quarterly, six monthly, annually or at maturity
  • reinvested (compounded) quarterly, six monthly, annually or at maturity.

For terms of less than 180 days, distributions are paid or compounded at maturity. The rate of return is set at the start of the investment for the term selected.


Type of rate Rate of return (p.a.)

Effective rate*

Effective rate for investment based on PIR of 28% and if you pay income tax at:

    30%** 33%^
30 days 0.50% p.a. 0.51% p.a. 0.54% p.a.
60 days 1.50% p.a. 1.54% p.a. 1.61% p.a.
90 days 2.65% p.a. 2.73% p.a. 2.85% p.a.
120 days 3.00% p.a. 3.09% p.a. 3.22% p.a.
150 days 3.15% p.a. 3.24% p.a. 3.39% p.a.
180 days 3.25% p.a. 3.34% p.a. 3.49% p.a.
210 days 3.25% p.a. 3.34% p.a. 3.49% p.a.
240 days 3.45% p.a. 3.55% p.a. 3.71% p.a.
270 days 3.35% p.a. 3.45% p.a. 3.60% p.a.
1 year 3.40% p.a. 3.50% p.a. 3.65% p.a.
18 months 3.55% p.a. 3.65% p.a. 3.81% p.a.
2 years 3.65% p.a. 3.75% p.a. 3.92% p.a.
3 years 3.80% p.a. 3.91% p.a. 4.08% p.a.
4 years 3.90% p.a. 4.01% p.a. 4.19% p.a.
5 years 4.00% p.a. 4.11% p.a. 4.30% p.a.

* For 30% and 33% taxpayers, ANZ PIE Fund returns are taxed at 28%.The effective rate is the rate you would need to earn if taxed at your income tax rate, to achieve the same after tax return as investing in the Call / Term Option at a PIR of 28%. The calculation assumes interest is paid quarterly and is not compounded.
** Applies to investors with taxable income of $48,001 to $70,000.
^ Applies to investors with taxable income of $70,001 and over.

Early withdrawal
If you’re not in the ‘cooling-off’ period, you can only request an early withdrawal if either:

• you give us 31 days’ notice or;
• you’re suffering from hardship, as reasonably determined by us.

Unless you’re in the ‘cooling-off’ period, we don’t have to agree to let you withdraw money early.

Reduced rate of return on early withdrawal

If we agree to let you withdraw some or all of your money from an investment in a Term Option category before the end of its term, the rate of return you get on that amount can be reduced by 3% per year, to a minimum of 0% per year.


There are no joining, management or monthly fees in the Term Option. Service charges may apply, including if you use ANZ Internet Banking. See ANZ Fees and Charges booklet for more information.

What's your next step?

For more information ANZ PIE Fund Information Brochure (PDF 327kB) and ANZ PIE Fund Terms and Conditions (PDF 217kB)

Apply Online
Apply online
If you're an existing ANZ customer and have ANZ Internet Banking, the quickest way to apply for your new ANZ PIE Fund - Term Option is to log on and use the 'Apply and Open' tab.
Visit an ANZ branch
Find your nearest branch

A copy of the ANZ PIE Fund Information Brochure, Terms and Conditions and Financial Statements can be obtained below, from any ANZ branch, or by calling 0800 269 296.

Other information:

ANZ Investment Services (New Zealand) Limited, the issuer of the ANZ PIE Fund, has elected that the Financial Markets Conduct Act 2013 (FMCA) will apply to all offers of securities in the ANZ PIE Fund made from 1 December 2014. See the notice to the Financial Markets Authority under Part 1 of Schedule 4 of the FMCA confirming that election below.

Investments in the ANZ Fund issued by ANZ Investment Services (New Zealand) Limited do not represent deposits or liabilities of ANZ Bank New Zealand Limited or Australia and New Zealand Banking Group Limited (together “ANZ Group”). Neither ANZ Group or The New Zealand Guardian Trust Company Limited (the "Trustee") stand behind or guarantee ANZ Investment Services (New Zealand) Limited. Investments are subject to investment risk, including possible delays in repayment, and loss of income and principal invested. Neither ANZ Group nor the Trustee will be liable to you for the capital value or performance of your investment.

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. 

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