Term deposit rate offers are tweaked higher by ANZ for terms of 18 months and longer following wholesale benchmarks that are moving higher at the long end

Following their hiking of fixed mortgage rates, ANZ has now announced changes to its term deposit rates.

These are all also effective Thursday, November 24, 2016.

ANZ are dropping their 30 day term deposit rate by -10 bps to just 0.65%.

They are also lowering their one year term deposit rate, this one by -5 bps to 3.50%.

For eight months (240 days), their offer has been raised by +25 bps to 3.40%.

Rates are also rising for all terms of 18 months or longer, by between +10 and +15 bps.

For 18 months, the rise is +15 bps to 3.60%, up from 3.45%.

Their two year offer is also up by +15 bps, but only to 3.50%.

3.50% is also the offer for a three year term, and increase of +10 bps.

For four years, their new rate is 3.60% and for five years it is 3.60%, both rises of +10 bps.

(ANZ's hikes in mortgage rates were by +9 bps to +16 bps.)

These new rates don't come anywhere near matching BNZ's recent special of 4% for 2 years (interest at maturity).

All the ANZ offers require a minimum investment of $10,000. There is a maximum limit of $5 mln for these rates. For amounts greater you will need to contact ANZ for custom rates.

For terms of 180 days or more, interest can be either paid into any New Zealand bank account monthly, quarterly, six monthly, annually or at maturity. Or it can be reinvested (compounded) quarterly, six monthly, annually or at maturity.

But the locking up of funds for longer terms in what seems to be a turning rate environment will have many savers thinking through the risk/reward scenarios.

Use our deposit calculator to figure exactly how much benefit each option is worth; you can assess the value of more or less frequent interest payment terms, and the PIE products, comparing two situations side by side.

All carded, or advertised, term deposit rates for all institutions for terms less than one year are here, and for terms one-to-five years are here.

Term PIE rates are here.

The latest headline rate offers are in this table.

for a $25,000 deposit	Rating	3/4 mths	5/6 mths	8/9 mths	1 yr	18 mths	2 yrs	3 yrs
	AA-	3.00	3.35	3.50	3.50	3.60	3.50	3.50
	AA-	3.00	3.20	3.25	3.20	3.50	3.25	3.35
	AA-	2.75	3.30	3.60	3.25	3.30	4.00	3.40
Kiwibank	A+	3.20	3.15	3.20	3.60		3.25	3.40
	AA-	3.40	3.35	3.10	3.40*	3.20	3.25	3.30
	BBB	2.95	3.50	3.30	3.50	3.55	3.60	3.65
	BBB	3.10	3.30	3.70	3.40	3.40	3.40	3.70
HSBC Premier	AA-	2.55	2.90	2.90	2.90		2.90	2.95
	A	2.85	3.50	3.35	3.40	3.40	3.45	3.55
	BBB	2.75	3.55	3.30	3.70	3.45	3.35	3.40
	A-	3.00	3.15	3.15	3.20	3.25	3.30	3.40
UDC	A-	3.00	3.35	3.60	3.60	3.65	3.45	3.45
Wholesale/swaps		2.03	2.08		2.11		2.28	2.46

Our unique term deposit calculator can help quantify what each offer will net you.