Locking in a fixed term deposit rate feels like placing a bet on where interest rates are headed next. If you’re weighing ANZ’s current offers against the rest of the big four, the numbers tell a clearer story than the marketing.

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ANZ 12-month term deposit rate (Australia): 5.30% p.a. ·
Minimum deposit: $5,000 ·
Big four average 1-year term deposit rate: 5.25% p.a. ·
ANZ NZ 30-day term deposit rate: 1.90% p.a. ·
Number of banks compared by Canstar: 4 (ANZ, CBA, NAB, Westpac)

Quick snapshot

1Confirmed facts
2What’s unclear
  • Whether any bank in Australia currently offers 7% or 9.5% on fixed deposits – no official sources confirm these rates
  • Specific ANZ term deposit rates for seniors or low-minimum deposits (below $5,000)
  • Future rate changes beyond June 2026 data
3Timeline signal
4What’s next
  • RBA cash rate decisions will influence future term deposit pricing (ANZ Term Deposit Calculator)
  • Compare alternatives like high-interest savings accounts for flexibility (ANZ Term Deposit Calculator)
  • Check ANZ’s term deposit calculator for personalised projections (ANZ Term Deposit Calculator)
Key facts about ANZ fixed term deposit rates
Fact Value
ANZ 12-month term rate (Australia) 5.30% p.a.
Minimum deposit $5,000
Big four average 1-year rate 5.25% p.a.
ANZ NZ 30-day rate 1.90% p.a.
Canstar comparison covers Big four banks (ANZ, CBA, NAB, Westpac)
ANZ Advance Notice Term Deposit 5.30% p.a. for 12-month term

What is the interest rate for ANZ term deposits?

Current ANZ term deposit rates for common terms

  • 1 to less than 2 months: 1.40% p.a. (ANZ bank account interest rates, fees and terms)
  • 2 to less than 3 months: 1.65% p.a. (ANZ bank account interest rates, fees and terms)
  • 12-month term (Advance Notice): 5.30% p.a. (ANZ Advance Notice Term Deposit)
  • Minimum deposit: $5,000 (ANZ Term Deposit)

The pattern is clear: short terms pay very little, but commit for a year and the rate jumps above 5%. ANZ’s 12-month advance notice product sits at the same headline rate as its standard term deposit for that period. The trade-off: you need to give 30 days’ notice to withdraw early without penalty.

How to use the ANZ term deposit calculator

ANZ provides an online calculator that projects your interest earnings based on deposit amount, term, and rate. You can access it on the ANZ term deposit calculator page. Enter your expected deposit (between $5,000 and $1,999,999) and select a term to see the maturity amount.

ANZ term deposit rates for seniors

ANZ does not publicly list separate rates for seniors on its main term deposit pages. The standard rates apply regardless of age. However, some smaller institutions occasionally offer senior-specific promotions — none confirmed in the current data from the big four.

Bottom line: ANZ offers 5.30% p.a. for a 12-month term deposit. Shorter terms pay poorly. The calculator is free and quick to use. No special senior rates exist at ANZ.

Which bank gives 7% interest on fixed deposits?

Are there any banks offering 7% on fixed deposits?

No major Australian bank currently advertises a 7% fixed term deposit rate. The highest rate among the big four is 5.30% p.a. for a 12-month term. Outside the big four, the best available rate reported by Money.com.au (Australian banking comparison site) was 5.70% p.a. on a five-year term from Rabobank — still well short of 7%.

Current highest rates among Australian banks

High-interest savings accounts vs term deposits

High-interest savings accounts can offer variable rates that sometimes exceed term deposit rates, but they come with conditions: monthly deposits, withdrawal limits, and bonus rate requirements. For example, some online savers pay over 5.5% variable, but the rate can change at any time. Term deposits lock your rate for the entire term — a trade-off between flexibility and certainty.

The catch

Chasing a mythical 7% fixed deposit may cost you time. No major bank offers it. The real gap between big four rates and the best in market is around 0.40 percentage points — not worth the hunt if convenience matters more.

Bottom line: No Australian bank currently offers 7% on fixed deposits. The best widely available rate from a big four bank is 5.30% p.a.. Non-big-four institutions offer up to 5.70% but on longer terms.

Which bank has the best fixed term deposit rates?

Comparing term deposit rates across the big four banks

Canstar’s latest comparison of big four term deposit rates shows a tight cluster:

Bank 1-year rate (p.a.) Minimum deposit Short-term rate (1 month)
ANZ 5.30% $5,000 1.40%
NAB 5.30% $5,000 1.40%
Commonwealth Bank 5.25% $5,000 Not published
Westpac 5.20% – 1.40%

Sources: Canstar big four comparison, ANZ rates page, NAB term deposit rates, CommBank term deposits, Westpac term deposit rates.

The pattern: ANZ and NAB lead the big four pack at 5.30%, with CBA 0.05% behind and Westpac another 0.05% back. The differences are small — over a $50,000 deposit, the gap between top and bottom is just $50 a year.

Best fixed term deposit rates in Australia

Beyond the big four, smaller banks and credit unions sometimes offer higher rates. According to Canstar (Australia’s leading comparison site), the highest online-partner rate on 1 June 2026 was 5.60% p.a. Money.com.au reported a five-year rate of 5.70% p.a. from Rabobank. These typically require deposits above $5,000 and may have shorter promotional windows.

Factors to consider beyond the interest rate

  • Early withdrawal penalties: Most term deposits charge a loss of interest if you withdraw before maturity. ANZ’s early withdrawal penalty for standard term deposits is unspecified, but the Advance Notice product requires 30 days’ notice.
  • Deposit insurance: In Australia, the Financial Claims Scheme (APRA deposit insurance) protects up to $250,000 per account holder per institution. ANZ is covered.
  • Interest payment options: Monthly, quarterly, or at maturity — choose what suits your cash flow.
Bottom line: ANZ and NAB tie for best big four 1-year rate at 5.30%. Outside the big four, rates reach 5.60–5.70% but on longer terms. Early withdrawal terms and deposit insurance matter as much as the headline rate.

Which New Zealand bank has the highest term deposit rate?

ANZ NZ term deposit rates compared to BNZ, Kiwibank, ASB

New Zealand term deposit rates are significantly lower than Australian rates. ANZ New Zealand offers 1.90% p.a. for a 30-day term deposit, with effective rates up to 2.24% p.a. for longer terms. Other NZ banks — BNZ, Kiwibank, and ASB — publish their own rate ladders. According to Consumer NZ (independent consumer organisation), rates across the market hover in the 2–3% range for longer terms as of mid-2026.

Current highest term deposit rates in New Zealand

The highest rates in New Zealand tend to come from smaller institutions like Heartland Bank or Rabobank NZ, which have offered up to 3.5% on longer terms in recent months. The big four NZ banks (ANZ NZ, BNZ, ASB, Westpac NZ) typically cluster within 0.2% of each other.

Bottom line: NZ term deposit rates lag Australia by 2–3 percentage points due to the lower official cash rate. ANZ NZ pays 1.90% on 30-day deposits; longer terms reach around 2.24%. The best rates in NZ come from non-big-four providers.

Which Australian bank has the best term deposit rate?

Top term deposit rates in Australia for 2025

The big four banks lead the market for 1-year terms at 5.20–5.30% p.a. The best rate available from any Australian deposit-taking institution, according to Money.com.au (specialist Australian banking rate tracker), is 5.70% p.a. for a five-year term from Rabobank. For shorter terms, rates at 6–12 months are typically the most competitive across the industry.

How to choose the best term deposit

  • Compare rates for the specific term you need — don’t assume longer is always better.
  • Check the minimum deposit: ANZ requires $5,000; some smaller banks accept $1,000.
  • Understand early exit costs: some banks charge up to 3 months’ interest as penalty.
  • Consider laddering: split your money into multiple term deposits with different maturities to maintain liquidity.

Alternatives to term deposits for earning higher interest

High-interest savings accounts from neobanks or online lenders sometimes offer rates above 5.5% with no lock-in period. For example, some accounts pay 5.6% variable for the first 3–6 months as an introductory offer. However, these rates are not guaranteed and can drop. Shares, bonds, or exchange-traded funds (ETFs) can yield more but carry market risk.

What to watch

The best headline rate is meaningless if you can’t meet the deposit minimum or you lock money away for longer than you need. For Australian savers, a 1-year term deposit at 5.30% from ANZ or NAB is a solid benchmark. Anything above 5.5% from a smaller institution adds complexity but also a modest extra return.

Bottom line: For Australian savers, ANZ and NAB offer the best big four 1-year rates at 5.30%. The market best is 5.70% from Rabobank (5-year). Laddering and savings accounts offer alternatives worth considering.

Comparison: Big four term deposit rates at a glance

Four major banks, four very similar 1-year rates — the differences are less than the cost of a coffee each year on a $50,000 deposit.

Bank 1-year rate 3-month rate 6-month rate Minimum deposit
ANZ 5.30% 3.20% (approx.) 3.50% (approx.) $5,000
CBA 5.25% Not published Not published $5,000
NAB 5.30% 3.20% (approx.) 3.50% (approx.) $5,000
Westpac 5.20% 3.20% 3.40% (approx.) $5,000

Sources: ANZ, CBA, NAB, Westpac official rate pages. Short-term rates are indicative based on the sources cited above.

The implication: choosing between the big four comes down to factors beyond the rate — branch access, online platform, and relationship benefits.

Term deposits: upsides and downsides

Upsides

  • Guaranteed interest rate for the full term
  • No market risk — capital is protected
  • Deposit insurance up to $250,000 per account holder
  • Predictable returns for budgeting

Downsides

  • Early withdrawal penalties reduce or eliminate interest
  • Inflation can erode purchasing power if rates are below inflation
  • Lower potential returns compared to shares or ETFs
  • Lack of liquidity — money locked for the term

What’s confirmed and what’s still unclear

Confirmed facts

  • ANZ Australia offers 5.30% p.a. on 12-month term deposits
  • ANZ New Zealand offers 1.90% p.a. for 30-day term deposits
  • Canstar reports big four rates as of June 2026: ANZ/NAB 5.30%, CBA 5.25%, Westpac 5.20%
  • Minimum deposit for ANZ term deposit is $5,000
  • Deposit insurance covers up to $250,000 per account holder under APRA

What’s unclear

  • Whether any bank in Australia offers 7% or 9.5% on fixed deposits — no verified sources confirm this
  • Specific ANZ rates for seniors or low-deposit amounts below $5,000
  • Future rate changes beyond the current data
  • Detailed early withdrawal penalty amounts for standard ANZ term deposits

Perspectives from the market

“Interest 5.30% p.a. on a 12 month term.”

— ANZ Advance Notice Term Deposit (official product page)

“ANZ, NAB lead big four at 5.30% for 1 year.”

— Canstar (leading Australian comparison site)

Summary: What this means for savers

ANZ’s term deposit rates are competitive within the big four, but the real choice is between locking in a guaranteed 5.30% or chasing a slightly higher return with less certainty elsewhere. For Australian savers with at least $5,000 to set aside for a year, the ANZ Advance Notice Term Deposit is a straightforward option. For New Zealand savers, rates are far lower, and the best deals come from smaller banks. The decision is clear: if rate certainty matters most, take the 5.30% now. If you can accept some variability, split your money between a term deposit and a high-interest savings account.

Related reading: Big Four bank term deposit rates · ANZ Advance Notice Term Deposit

Additional sources

bendigobank.com.au, anz.com.au, infochoice.com.au, macquarie.com.au

For retirees looking for competitive returns, ANZs term deposit rates for seniors offer a slightly different rate structure that’s worth comparing against the standard 12-month offerings.

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Frequently asked questions

Which bank gives 9.5% interest on FD?

No major Australian bank offers 9.5% on fixed deposits. The highest rates available from the big four are around 5.30% p.a. Promotional rates sometimes reach 5.70% from smaller institutions, but 9.5% does not exist in the current market.

Where can I put my money to earn the most interest in Australia?

For safety and simplicity, a 1-year term deposit from ANZ or NAB at 5.30% is competitive. For a higher potential return, high-interest savings accounts from neobanks offer variable rates above 5.5%. For longer-term growth, consider diversified ETFs, but be prepared for market risk.

How do I open an ANZ term deposit?

You can open an ANZ term deposit online via the ANZ website, by phone, or in branch. You’ll need a minimum of $5,000 and an existing ANZ account. The process takes about 10 minutes.

What is the ANZ term deposit early withdrawal penalty?

For standard ANZ term deposits, early withdrawal typically results in loss of all or part of the interest earned. The Advance Notice Term Deposit requires 30 days’ notice. Exact penalty amounts are not publicly detailed, so confirm at account opening.

Are term deposits safe?

Yes, term deposits with APRA-regulated banks like ANZ are covered by the Financial Claims Scheme up to $250,000 per account holder per institution. Your capital is protected.

What happens when a term deposit matures?

At maturity, ANZ typically offers to roll over the deposit into a new term at the current rate, or you can withdraw the funds without penalty. If you do nothing, it may automatically reinvest for the same term.

Can I have multiple term deposits with ANZ?

Yes, you can hold multiple term deposits with ANZ, each for different terms and amounts. This is a common strategy called laddering.