ANZ changes rates for investors, decreasing some, and raising others but by a much smaller change than for borrowers. However ANZ remains remains very competitive compared with its main rivals

At the same time ANZ raised most of its mortgage rates (including its floating rate), it also announced a range of term deposit rate changes.

There were no changes this time to the bank's 'at call' savings products, and some short term deposit rates were reduced.

Most other changes were modest increases. (ANZ's PIE rates rose by the same amounts at the same time.)

The full change activity is recorded in our rate tables here and here. But as the summary below shows, ANZ's changes affected term investors at a lower quantum than the impact on borrowers.

All term deposit changes are effective Thursday, January 19, 2017.

As at September 30, 2016, ANZ had almost $40 bln in customer term deposits, another $42 bln in "on demand and short term deposits", and a further $7.8 bln in deposits that don't earn any interest. All up (and excluding UDC), ANZ has $90 bln in Total Customer Deposits.

A summary setting out the ANZ changes for the same time periods reveals this:

Despite the ANZ term deposit changes being significantly less that the mortgage rate changes, the new ANZ TD rates leave the bank positioned well against its main rivals, and that is true for most term options.

ANZ offers the highest carded term deposit rates for all terms by the main banks except for three months and one year, where Westpac has an edge.

For higher rates, you need to asses the offers of institutions with a lower credit rating.

As we have earlier noted, savers may wish to think through the wisdom of locking up of funds for longer terms in what seems to be a turning rate environment. This situation should have 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
Main banks
	AA-	3.00	3.30	3.60	3.35	3.60	3.80	3.90
	AA-	3.00	3.20	3.60	3.20	3.50	3.65	3.80
	AA-	3.00	3.30	3.65	3.25	3.60	3.75	3.80
Kiwibank	A+	3.00	3.10	3.20	3.35		3.40	3.60
	AA-	3.15	3.20	3.10	3.40	3.20	3.70	3.50
Other banks
	BBB	2.95	3.40	3.50	3.60	3.65	3.75	3.85
	BBB	3.10	3.30	3.70	3.40	3.40	3.40	3.70
HSBC Premier	AA-	2.50	2.80	2.90	2.90		2.90	2.95
ICBC	A	3.05	3.35	3.65	3.45	3.65	3.75	3.85
	A	2.85	3.40	3.35	3.40	3.40	3.45	3.80
	BBB	2.75	3.55	3.60	3.60	3.70	3.80	4.00
	A-	3.00	3.30	3.75	3.50	3.70	3.80	4.00
Selected fincos
F&P Finance	BB*	3.10	3.80	4.00	4.10	4.15	4.25	4.35
	BBB	3.40	3.95	4.15	4.40	4.80	4.95	5.15
	A-	3.00	3.50	3.75	3.80	3.65	3.60	3.55
	* = the only credit rating in this review that is not investment grade.

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