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Change, renew or terminate your term deposit
With ANZ Internet Banking, viewing and managing your term deposit is at your fingertips. Follow the steps below to change, renew or terminate your term deposit.
What is a term deposit?
A term deposit is a type of deposit account, which offers a fixed rate of return for a fixed amount of funds over a range of available investment terms of deposit.
You can easily view the details of your term deposit. They consist of an account summary and an investment details summary.
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How to change your term deposit settings in Internet Banking
- Log in to ANZ Internet Banking
- Select your term deposit
- Then select the Maintain term deposit
Step 4 - Enter the principal payment instructions
Choose what you want to do with the principal amount when your ANZ term deposit matures. You can choose between two options:
- Reinvest principal amount into term deposit
- Transfer principal amount to a selected account
Step 5 - Enter the interest payment instructions
Choose what you want to do with the interest earned on your term deposit. You can choose between two options: Reinvest interest or Transfer interest.
Step 6 - Review your request
Review your request on the "Maintain your term deposit - review request" page to ensure all information is correct. If you need to change any details, click "Back" on the bottom left and re-enter any details by following steps 1-4.
Step 7 - Confirm your request
When you are happy with the details provided, click "Confirm" to acknowledge and accept the customer authorisation conditions.
Step 8 - View your request
The "Maintain your term deposit - Enquiry sent" page will display confirming your request to amend the existing term deposit instructions has been submitted.
What happens next?
The ANZ term deposit team will process your request and respond to your enquiry within two bank business days.
When you request to reinvest your ANZ term deposit at maturity there is a seven day grace period after the reinvestment. During this grace period you can make changes.
- Choose to increase or decrease the investment amount as well as the instructions for payment at maturity.
- The ongoing interest rate applied to your term deposit will be the current rate on the date your deposit was reinvested.
How to reinvest your term deposit in Internet Banking
- Log in to ANZ Internet Banking
- Select your term deposit
- Then select the Maintain term deposit
Step 4 - Fill in the required information
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Click Continue, select the Update details button on the bottom right and you're all done.
Step 5 - Enter the reinvestment amount details
Choose one of three options for the reinvestment amount.
- Keep the reinvestment amount the same
- Increase balance of the term deposit
- Decrease balance of term deposit
Step 6 - Review your request
Depending on the options you chose in step 2, you will be taken to one of the following pages to review your request:
- Maintain your term deposit - review request
- Increase term deposit amount - review request
- Withdraw part of deposit - review request
Review your request on this page to ensure all information is correct. If you need to change any details, click "Back" and re-enter any details by repeating steps 1-2.
Step 7 - Confirm your request
When you are happy with the details provided, click "Confirm" to acknowledge and accept the customer authorisation conditions.
Step 8 - View your lodgement receipt
Depending on the options you chose in step 2, you will be taken to one of the following confirmation pages confirming that a SecureMail has been sent to the ANZ term deposit team on your behalf requesting an amendment to the existing term deposit instructions:
- Option 1 - Maintain your term deposit - Securemail sent
- Option 2 - Increase term deposit amount - Securemail sent
- Option 3 - Withdraw part of deposit - Securemail sent
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You will be notified that your ANZ term deposit is currently in grace period and the following information will display: Maintain term deposit and Start date. |
We make it easy for you to request to withdraw all or part of your ANZ term deposit before the maturity date.
- Choose the withdrawal amount and the account to transfer the funds into, should the request be approved.
- The request gets submitted to us via a SecureMail.
- After you submit the request we'll contact you within 24-48 hours.
How to terminate your term deposit early in Internet Banking
- Log in to ANZ Internet Banking
- Select the term deposit
- Then select the Terminate your term deposit early
- Enter your withdrawal details and choose between two options
- Enter the amount you wish to withdraw.
- Please note your balance must remain above $5,000.
- Select the account to transfer the ANZ term deposit funds to
- Fill in your contact details
- Review all your information to ensure it is correct. If you notice any mistakes or wish to change your request, click Back and re-enter the correct details following steps 4-7.
- Click Confirm on the bottom right to confirm your request
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Option 1 - Full withdrawal of your term deposit. This will close your term deposit account. Option 2 - Partial withdrawal of your term deposit. |
It's important to note that:
- Any funds withdrawn early will earn a reduced interest rate than that which was originally agreed
- The money you leave in the term deposit will continue to earn the interest rate originally agreed
- There will also be an administration fee payable for any early withdrawn term deposits opened or reinvested on maturity from 6 December 2004.
- Full or partial withdrawal of your ANZ term deposit is at the discretion of ANZ, and additional costs may apply.
- We will endeavour to process your request within the next bank business day.
