ANZ has become the second major bank to cut term deposit interest rates this week with reductions of between 10 and 30 basis points to its one to five-year rates.
The cuts, effective today, see ANZ's one-year rate cut 10 basis points to 4.40%, its 18 month rate cut 10 basis points to 4.50%, its two year rate cut 10 basis points to 4.60%, its three year rate cut 30 basis points to 4.70%, its four year rate cut 30 basis points to 4.80%, and its five year rate cut 30 basis points to 5.00%.
The ANZ term deposit rate cuts follow a range of cuts from BNZ on Monday.
See all advertised, or carded, term deposit rates for 1 to 9 months here and see all advertised term deposit rates for 1 to 5 years here.
The ANZ term deposit rate cuts come against a backdrop of recent falls in swap rates. And in a global environment of low interest rates, 2015 is expected to offer borrowers better deals than savers.
Daily swap rates
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