Shopping around for a term deposit? ANZ — New Zealand’s biggest bank — is a common first stop, but its current rates range from 3.55% for 180 days to 4.30% for two years as of early August 2026. With rates shifting and competitors sharpening offers, knowing exactly what ANZ is paying right now matters.
ANZ 180-day term deposit rate: 3.55% p.a. ·
ANZ 1-year term deposit rate: 3.90% p.a. ·
ANZ 2-year term deposit rate: 4.30% p.a. ·
Minimum deposit: $10,000 ·
Rate effective date: 5 August 2026
Quick snapshot
- ANZ’s highest short-term rate is 3.55% for 180 days (TermDepositRates.co.nz, NZ rate aggregator)
- Minimum deposit of $10,000 applies (ANZ New Zealand, official bank website)
- Rates effective 5 August 2026 (ANZ New Zealand, official bank website)
- Exact competitor rates may differ by capture date (ValueHub, third-party aggregator)
- Whether any bank currently offers 7% on savings (Steady NZ, personal finance guide)
- Future RBNZ rate decisions (Calculate.co.nz, NZ reference site)
- Rates last updated 24 July 2026 on ANZ’s official site (ANZ New Zealand, official bank website)
- No further changes announced as of mid-August (TermDepositRates.co.nz, NZ rate aggregator)
- Monitor RBNZ Official Cash Rate decisions for direction (Steady NZ, personal finance guide)
- Specialist banks may adjust offers in response (Calculate.co.nz, NZ reference site)
The snapshot separates confirmed figures from open questions; the table below condenses the essential numbers.
| Highest ANZ rate (2 years) | 4.30% p.a. |
| Best short-term rate (180 days) | 3.55% p.a. |
| Minimum deposit | NZ$10,000 |
| Rate effective date | 5 August 2026 |
| Term lengths available | 30 days to 5 years |
| Deposit insurance (NZ) | Up to NZ$50,000 per institution |
What are the current interest rates for ANZ Term Deposits?
ANZ term deposit rates by term length
- 1 month: 1.80% p.a. (TermDepositRates.co.nz, NZ rate aggregator)
- 3 months: 2.90% p.a. (TermDepositRates.co.nz, NZ rate aggregator)
- 6 months (180 days): 3.55% p.a. (TermDepositRates.co.nz, NZ rate aggregator)
- 12 months: 3.90% p.a. (TermDepositRates.co.nz, NZ rate aggregator)
- 2 years: 4.30% p.a. (TermDepositRates.co.nz, NZ rate aggregator)
- 3 years: 4.40% p.a. (TermDepositRates.co.nz, NZ rate aggregator)
- 4 years: 4.60% p.a. (TermDepositRates.co.nz, NZ rate aggregator)
- 5 years: 4.70% p.a. (TermDepositRates.co.nz, NZ rate aggregator)
Seven term lengths span from 30 days to five years, with the shortest terms paying less than 2% and the longest breaching 4.70%. The minimum to lock in any rate is NZ$10,000, as per ANZ’s official terms (ANZ New Zealand, official bank website).
How rates have changed recently
ANZ last updated its rates page on 24 July 2026 (ANZ New Zealand, official bank website). A June 2026 comparison site showed ANZ’s 12-month rate at 4.20% and 24-month at 3.95% (MoneyBalance NZ, rate comparison site), while a late-July tracker recorded 4.20% for 12 months (ValueHub, third-party aggregator). The variations highlight that third-party snapshots can differ by a few days.
The implication: the official ANZ page is the single source of truth, but aggregators give a useful range for comparison shopping.
Which NZ bank has the best term deposit rates?
Comparison of ANZ, ASB, BNZ, Westpac rates
Four big banks, one pattern: none consistently leads across all terms.
| Bank | 6-month rate (approx) | 12-month rate (approx) | 2-year rate (approx) |
|---|---|---|---|
| ANZ | 3.55%* | 3.90%* | 4.30%* |
| ASB | 3.60–3.80%** | 3.85–4.10%** | 4.15–4.35%** |
| BNZ | 3.50–3.75%** | 3.80–4.05%** | 4.10–4.30%** |
| Westpac | 3.55–3.80%** | 3.85–4.15%** | 4.20–4.40%** |
| * ANZ rates per TermDepositRates.co.nz as of 10 Aug 2026; ranges for other banks based on market data from Calculate.co.nz, NZ reference site, and Steady NZ, personal finance guide. | |||
Specialist banks such as Heartland, SBS, and Rabobank often add 0.25% to 0.75% above the big four (Calculate.co.nz, NZ reference site). The catch: those institutions may offer less branch access or shorter online track records.
Factors beyond the interest rate
- Minimum deposit: ANZ requires $10,000; some specialist banks accept $1,000.
- Early withdrawal penalties: ANZ charges a break fee that can eat into interest (ANZ New Zealand, official bank website).
- Deposit insurance: All covered up to NZ$50,000 under the NZ deposit insurance scheme.
- Online versus branch: ANZ offers both, while some competitors are digital-only.
For a saver with $10,000, a 0.25% to 0.75% rate gap is $25 to $75 in yearly interest — enough to justify checking specialist banks before locking in.
What this means: ANZ’s rates are competitive but rarely the highest. The best rate for a given saver depends on term, deposit amount, and tolerance for online-only banking.
Which bank is giving 7% interest on savings accounts?
Are there savings accounts with 7% interest?
Finding 7% on a standard savings account in New Zealand right now is essentially impossible. The highest term deposit rates from any bank sit around 4.7% (ANZ’s 5-year) or just above 5% at specialist lenders (Steady NZ, personal finance guide). Some promotional offers hit 5–6% for limited periods with conditions, but 7% remains a marketing headline rather than a current reality.
Comparing savings accounts vs term deposits
The real trade-off is liquidity: a savings account can be tapped anytime, but its rate can change; a term deposit locks the rate but ties up the money.
| Feature | Savings account | Term deposit |
|---|---|---|
| Typical rate (Aug 2026) | 1–4% variable | 1.80–4.70% fixed |
| Liquidity | Instant access | Locked until maturity |
| Rate guarantee | None (bank can change) | Fixed for term |
| Minimum deposit | $0–$1 often | $10,000 (ANZ) or higher |
| Best for | Emergency fund | Money you won’t need for months |
The trade-off: savers chasing 7% in today’s market will need to consider other asset classes, which bring their own risks.
Is ANZ a good long-term investment?
ANZ’s financial performance
ANZ Group (ASX: ANZ) is a blue-chip stock with a trailing dividend yield around 5–6% as of mid-2026. Analysts point to consistent earnings from its Australian and New Zealand banking operations (MoneyBalance NZ, rate comparison site). However, a term deposit is not a share — it’s a contractual loan to the bank, not an equity stake.
Dividend history and share price trends
ANZ shares have shown moderate capital growth over five years, but bank stocks are sensitive to interest rate cycles and credit quality. A term deposit offers zero capital upside but also zero downside: your principal is returned plus fixed interest.
Why this matters: conflating ANZ the term deposit issuer with ANZ the stock is a common confusion. A term deposit is a savings product, not an investment in the company’s future.
What are the risks of investing in ANZ?
Market risk for ANZ shares
If you buy ANZ shares, you face market volatility, dividend cuts, and potential capital loss. In contrast, ANZ term deposits are exempt from market risk.
Interest rate risk for term deposits
Locking in a fixed rate means missing out if rates rise. With the RBNZ potentially adjusting the OCR, term deposit holders cannot benefit from increases during their term.
Credit and liquidity risks
- Inflation risk: If inflation runs above your fixed rate, purchasing power erodes.
- Early withdrawal penalty: ANZ charges a break fee that can reduce or eliminate interest (ANZ New Zealand, official bank website).
- Deposit insurance limit: Covered up to NZ$50,000 per institution under the NZ deposit insurance scheme (Steady NZ, personal finance guide). Amounts above that are not guaranteed.
The paradox: term deposits are low-risk for capital, but not risk-free in real terms.
A saver with $50,000 in an ANZ term deposit at 3.90% for 12 months earns $1,950 in interest. If inflation runs at 3.5%, the real gain is just $200 — and any early withdrawal would wipe that out. Fixed returns are safe, but not a hedge against rising prices.
Pros and cons of ANZ term deposits
Upsides
- Rates fixed for the entire term
- Backed by NZ’s largest bank with extensive branch network
- Covered by NZ deposit insurance up to $50,000
- Multiple term options from 30 days to 5 years
Downsides
- Minimum deposit of $10,000 locks out smaller savers
- Early withdrawal penalties can be steep
- Rates often trail specialist banks by 0.25–0.75%
- No liquidity — funds tied up until maturity
“ANZ’s term deposit rates are reviewed regularly and apply to deposits of $10,000 and above.”
— ANZ New Zealand, official bank website
“Specialist banks such as Heartland and Rabobank often offer 0.25% to 0.75% more than the big four, making them worth a look for savers willing to go online-only.”
— Calculate.co.nz, NZ financial reference site
The balance of upsides and downsides: ANZ suits savers with $10,000 or more who want branch access and fixed returns; it is not built for smaller deposits or depositors chasing the absolute top rate.
Summary
ANZ term deposit rates in August 2026 range from 1.80% for 30 days to 4.70% for five years, with the sweet spot for most savers sitting at the 6-month to 2-year band (3.55% to 4.30%). While ANZ’s rates are competitive, they are rarely market-leading — specialist banks frequently nudge 0.5% higher. For the New Zealand saver willing to trade branch access for yield, the smarter move may be to compare ANZ’s offering against Rabobank or Heartland before locking in. ANZ’s $10,000 minimum means savers must budget ahead before locking in.
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Frequently asked questions
How is term deposit interest calculated?
Interest is calculated daily on the deposit amount and paid at maturity or at intervals (e.g., monthly, quarterly) depending on the product selected. ANZ offers both options (ANZ New Zealand, official bank website).
What happens if I withdraw early from an ANZ term deposit?
ANZ may charge a break fee that can reduce the interest earned or even affect the principal. The exact fee depends on the remaining term and current rates (ANZ New Zealand, official bank website).
Can I have multiple ANZ term deposits?
Yes, you can hold multiple term deposits at ANZ, each with its own term, amount, and interest payment option.
Are term deposits covered by the New Zealand deposit insurance scheme?
Yes, the New Zealand deposit insurance scheme covers up to NZ$50,000 per institution per depositor. ANZ term deposits are included (Steady NZ, personal finance guide).
What is the difference between a term deposit and a savings account?
A term deposit locks your money for a fixed period at a fixed rate; a savings account offers instant access but a variable rate that can change at any time.
How do I open an ANZ term deposit online?
You can open one via ANZ’s internet banking or at a branch. Log in to ANZ Internet Banking, select “Open a term deposit”, choose the amount, term, and interest option, then confirm.
These answers cover the common edge cases; the right choice still depends on term, deposit amount, and how soon the money may be needed.