You’ve probably seen a headline promising 7% on a fixed deposit and wondered if that’s real or just clever marketing. The current ANZ term deposit rate for a 12-month term sits at 5.30% p.a. — well below those flashy claims. This article takes ANZ’s official rate as a benchmark, compares it against the other Big Four banks, and calculates what a $1,000,000 deposit actually earns you each month. By the end, you’ll know which rates are grounded and which ones need a closer look.

4 related posts

ANZ 12-month term deposit rate: 5.30% p.a. ·
ANZ Advance Notice 12-month term deposit rate: 5.30% p.a. ·
ANZ term deposit minimum investment: $5,000 ·
Monthly pre-tax interest on $1,000,000 at 5.30% p.a.: $4,416.67

Quick snapshot

1Confirmed facts
2What’s unclear
3Timeline signal
  • At publication: ANZ official pages list 5.30% p.a. for 12 months (ANZ Australia — rates page)
  • Rate change window: ANZ notes rates vary by term and can change (ANZ Australia — rates page)
4What’s next
  • Check official bank pages before locking funds — rates shift without warning
  • Compare across Big Four: ANZ, CBA, NAB, Westpac — term-by-term

Six rates across the Big Four, one pattern: ANZ leads at the 12-month mark, but the spread across terms tells a more interesting story.

Bank 3 months 6 months 12 months 24 months
ANZ (Advance Notice) 3.35% p.a. 5.10% p.a. 5.30% p.a. 5.00% p.a.
CommBank 3.30% p.a. 3.45% p.a. 4.75% p.a. 4.95% p.a.
NAB 3.35% p.a. 3.50% p.a. 5.25% p.a. 5.20% p.a.
Westpac 3.25% p.a. 3.40% p.a. 4.75% p.a. 4.50% p.a.

Sources: Finder — Big Four term deposit comparison and Canstar — ANZ, CBA, NAB & Westpac term deposit rates.

The implication: the bank that wins your deposit depends on your chosen term, not just the headline 12-month number.

What are the current ANZ term deposit rates?

What is the ANZ Advance Notice Term Deposit rate?

  • For a 12-month term, the ANZ Advance Notice Term Deposit rate is 5.30% p.a. (ANZ Australia — rates page)
  • Shorter terms: 3 months at 3.35% p.a., 6 months at 5.10% p.a. (Finder — Big Four comparison)

Which ANZ term deposit terms are available?

  • Terms range from 30 days to 5 years, per ANZ’s product page
  • Rates vary by term length; the 12-month offers the highest headline rate among standard terms

How does the ANZ term deposit calculator work?

  • The calculator accepts investments between $5,000 and $1,999,999
  • It shows projected earnings based on the selected term and rate
Bottom line: ANZ’s official rates are clear: 5.30% p.a. for 12 months. Short-term savers get less, and the calculator confirms the math before you lock in.

Which ANZ account has the highest interest rate?

What is the ANZ Advance Notice Term Deposit?

  • It’s a fixed-term deposit that requires 31 days’ notice for early withdrawal, per ANZ’s product terms
  • Rates match standard term deposits for the same term length at the 12-month mark

Are ANZ term deposit rates fixed for the full term?

  • Yes, the rate is locked for the entire chosen term — no changes mid-term (ANZ Australia — rates page)

Where does a 12-month ANZ term deposit sit among ANZ rates?

  • The 12-month rate of 5.30% p.a. is the highest among standard ANZ term deposits in the supplied data
  • Shorter terms (3-month, 6-month) pay lower rates; longer terms (24-month) pay 5.00% p.a.
Bottom line: The 12-month term deposit and the Advance Notice version both offer 5.30% p.a. — the top rate among ANZ’s current offerings. For depositors, that’s the headline to compare against other banks.

Which bank in Australia offers the best term deposit rates?

How do ANZ, Westpac, and BOC term deposit rates compare?

  • ANZ leads at 12 months (5.30% p.a.), per Canstar — Big Four comparison
  • Westpac offers 4.75% p.a. at 12 months, according to the same source
  • BOC (Bank of China) rates are not included in the supplied top SERP results

What are the current Westpac term deposit rates?

  • 3 months: 3.25% p.a., 6 months: 3.40% p.a., 12 months: 4.75% p.a., 24 months: 4.50% p.a. (Finder — Big Four comparison)

What are the current BOC term deposit rates?

  • No official BOC rate page appears in the supplied top five SERP results
The trade-off

ANZ offers the strongest 12-month rate among the Big Four, but NAB’s 24-month rate (5.20% p.a.) beats ANZ’s 5.00% p.a. The best bank depends on your preferred term — not just the headline number.

Which bank gives 7% interest on fixed deposits?

Which bank is giving 7% interest on savings accounts?

  • No official source in the supplied top SERP results confirms 7% on savings accounts in Australia (Canstar — Big Four comparison)

Is a 7% fixed deposit rate realistic in Australia?

  • ANZ’s official 12-month rate is 5.30% p.a., not 7% p.a.
  • No verified source in the supplied data shows 7% for fixed deposits from any Australian bank

How should you evaluate advertised high rates?

  • Check the source: is it an official bank page or a comparison site?
  • Look for conditions: minimum deposits, compounding terms, early-withdrawal penalties
  • Compare against the Big Four benchmark: if ANZ offers 5.30%, a 7% claim needs strong evidence
The catch

7% fixed deposit claims are not supported by any official source in the supplied top results. Depositors who chase that number risk locking funds into products with hidden conditions or no actual 7% rate. Stick to verified bank pages.

What is the monthly interest on $1,000,000 in Australia?

What is the annual interest on $1,000,000 at 5.30% p.a.?

  • Annual pre-tax interest: $53,000 ($1,000,000 × 0.053)

How does compounding frequency affect monthly interest?

  • Simple monthly interest (no compounding): $4,416.67 per month ($53,000 ÷ 12)
  • Actual credited interest depends on payment frequency, compounding schedule, and tax

What calculation does the ANZ term deposit calculator use?

  • The calculator applies the chosen rate to the deposit amount over the selected term
  • It shows projected earnings before tax, per ANZ’s product page

One large deposit, one clear math: $4,416.67 per month pre-tax at 5.30% p.a. For a $1,000,000 depositor, the monthly payout is a straightforward calculation — but tax and payment frequency change what lands in your account.

Deposit amount Annual rate Annual interest (pre-tax) Monthly interest (pre-tax)
$1,000,000 5.30% p.a. $53,000 $4,416.67
$500,000 5.30% p.a. $26,500 $2,208.33
$100,000 5.30% p.a. $5,300 $441.67

The pattern: for a large depositor, monthly income is predictable — but check whether your bank pays monthly, quarterly, or annually, because that affects cash flow.

Is ANZ a good bank in Australia?

What are the pros and cons of choosing ANZ for a term deposit?

Upsides

  • One of the Big Four banks, providing stability and regulatory oversight
  • 12-month rate of 5.30% p.a. leads among Big Four
  • Flexible term options from 30 days to 5 years

Downsides

  • Minimum deposit of $5,000 may exclude smaller savers
  • Early withdrawal penalties apply; not suitable for emergency funds
  • Shorter-term rates lag behind some competitors

How does ANZ compare with other Big Four banks?

  • ANZ’s 12-month rate (5.30% p.a.) beats CBA (4.75%), NAB (5.25%), and Westpac (4.75%) per Canstar — Big Four comparison
  • NAB offers a better 24-month rate (5.20% p.a.) than ANZ (5.00% p.a.)

What should you check before locking money into an ANZ term deposit?

  • Compare rates across all terms, not just the 12-month headline
  • Confirm interest payment frequency — monthly, quarterly, or annually
  • Understand early-withdrawal penalties before committing
Why this matters

For Australian savers, ANZ offers a competitive 12-month rate that leads the Big Four. But the best choice depends on your term: if you need flexibility, shorter terms pay less; if you want a longer lock, NAB may be stronger. ANZ is a solid anchor, not automatically the best for every situation.

Confirmed facts vs. what’s unclear

Confirmed facts

  • ANZ’s official 12-month term deposit rate is 5.30% p.a. (ANZ Australia — rates page)
  • ANZ Advance Notice 12-month rate is 5.30% p.a. (Finder — Big Four comparison)
  • Investment range is $5,000 to $1,999,999 (ANZ Australia — rates page)
  • Canstar compares ANZ, CBA, NAB, and Westpac in the supplied top results (Canstar — Big Four comparison)

What’s unclear

  • Whether any Australian bank currently offers 7% on fixed deposits
  • Whether any Australian bank currently offers 7% on savings accounts
  • Which bank holds the absolute best rate across every term without checking all official pages

“ANZ’s official 12-month term deposit rate is 5.30% p.a., making it the highest among the Big Four at that term.”

— Canstar — Big Four comparison (established editorial site)

“For a $1,000,000 deposit at 5.30% p.a., the monthly pre-tax interest is approximately $4,416.67.”

— Calculation based on ANZ Australia — rates page (official bank source)

“Finder’s Big Four comparison lists ANZ Advance Notice at 5.3% p.a. for 12 months and 5.1% p.a. for 6 months.”

— Finder — Big Four term deposit comparison (specialist site)

“Commonwealth Bank’s term deposit page lists 12 months at 4.75% p.a. for deposits of $5,000 to $5,000,000.”

— CommBank — term deposits page (official bank source)

For Australian savers deciding where to park cash, the choice is clear: compare the Big Four term-by-term, verify rates on official bank pages, and be skeptical of 7% claims that lack verified sources. ANZ’s 5.30% p.a. 12-month rate is a reliable benchmark — but your best rate depends on your term, deposit size, and cash-flow needs.

Additional sources

anz.co.nz, commbank.com.au, savings.com.au, northonline.com.au, anz.co.nz, southernwatch.net, auratepulse.com, auratepulse.com

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Frequently asked questions

Does ANZ offer 5% deposit?

If this means a 5% term deposit rate, ANZ’s official 12-month rate is 5.30% p.a., which exceeds 5%. If it refers to a home loan deposit requirement, that’s a different product category not covered here.

What is the minimum amount needed to open an ANZ term deposit?

The minimum is $5,000, per ANZ’s official product page.

How often is interest paid on an ANZ term deposit?

Interest can be paid monthly, quarterly, half-yearly, or annually — you choose when setting up the deposit, per ANZ’s interest options page.

Can I withdraw from an ANZ term deposit before maturity?

Yes, but early withdrawal typically incurs a penalty — usually loss of some interest. The exact terms depend on the product.

Are ANZ term deposit rates available in Sydney the same as national rates?

ANZ’s official rates page applies nationally, so Sydney rates match the national rates listed on the ANZ website.

Is there a penalty for early withdrawal from an ANZ term deposit?

Yes, early withdrawal usually results in an interest rate adjustment or a fee. Check your contract for specific penalty details before locking funds.

Related reading

  • Big Four term deposit comparison — Finder
  • ANZ, CBA, NAB & Westpac term deposit rates — Canstar