ANZ Term Deposit Review (2026)
Rates and details verified 23 May 2026
Rates can change without notice. Last verified: 23 May 2026 (AEST). Please confirm details on the bank’s official page.
Best rate
5.25%
p.a. for 12 months
Minimum deposit
$5,000
to open
Early withdrawal
31 days
notice required
About ANZ Term Deposits
ANZ is one of Australia's four major banks and offers the ANZ Advance Notice Term Deposit — so named because you must give 31 days advance notice to withdraw funds before maturity. The current best rate is 5.25% p.a. for a 12-month term, which actually edges out CommBank (5.20%) and NAB (5.20%) among the big four.
ANZ offers some non-standard terms compared to other banks: a 5-month option at 5.00% p.a. (rather than the typical 6-month) and an 18-month option at 5.25% p.a. There is no standard 6-month or 24-month term in the published rate schedule. Challenger banks like Judo Bank (5.45%) and AMP Bank (5.40%) still offer higher 12-month rates.
Eligibility note: To open an ANZ Advance Notice Term Deposit you must already hold (or open) an eligible ANZ everyday or savings account. New customers will need to open that account first and fund it before they can open the term deposit.
Note: ANZ acquired Suncorp Bank in July 2024, but Suncorp products continue to be offered under the Suncorp brand separately.
Current Term Deposit Rates
| Term | Rate (p.a.) | Notes |
|---|---|---|
| 3 months | 3.35% | At maturity, $5k–$1,999,999 |
| 5 months | 5.00% | At maturity — ANZ uses 5m instead of 6m |
| 12 months | 5.25% | At maturity |
| 18 months | 5.25% | Interest paid annually |
Check ANZ's website for the latest rates before investing.
Pros and Cons
Pros
- ✓ 5.25% p.a. for 12 months — best big-four rate, ahead of CommBank and NAB
- ✓ 18-month option at the same 5.25% rate for longer locking
- ✓ No account service fees
- ✓ Government deposit guarantee up to $250,000
- ✓ Easy to open for existing ANZ customers online
Cons
- ✗ 3-month rate (3.35%) is very low vs challengers
- ✗ No standard 6-month or 24-month term offered
- ✗ 31 days notice for early withdrawal; $30 fee + interest penalty
- ✗ Requires existing ANZ everyday or savings account
- ✗ 12-month rate still below Judo (5.45%), AMP (5.40%), and Macquarie (5.35%)
How It Compares
- Judo Bank: 5.45% for 12m, $1k min — highest 12m rate
- AMP Bank: 5.40% for 12m, $5k min
- Macquarie Bank: 5.35% for 12m, $5k min
- ING: 5.30% for 12m, $10k min
- ANZ: 5.25% for 12m, $5k min — best big-four rate
- CommBank: 5.20% for 12m (special offer), $5k min
- NAB: 5.20% for 12m, $5k min
- Westpac: 5.10% for 12m (with online bonus), $5k min
Information verified 23 May 2026. Rates and offers subject to change. Confirm current rates on ANZ's website before investing. This is not financial advice.