You’ll need to contact us to request an early withdrawal from your term deposit. It’s important to understand that unless you’re in the 7 day ‘cooling off’ period after you open or reinvest your term deposit, we don’t have to agree to let you withdraw your money early.
If you’re not in the ‘cooling-off’ period, early withdrawals may be permitted if you give us at least 31 days’ notice or if you’re suffering from hardship, as reasonably determined by us. Businesses with total ANZ deposits of $2m or more will not qualify for early withdrawal on the grounds of hardship.
If we allow an early withdrawal, we'll reduce the interest payable on the money you withdraw. The interest rate reduction is 3.00% per annum (your return will not go below 0%) on the money you withdraw.
For example, say you opened a term deposit on 3 September 2018 with a term of 2 years at a rate of 3.50% p.a. On 6 November 2018, we agree to let you withdraw your investment. We pay you at 0.50% p.a. (3.50% - 3.00% interest rate reduction) on the money you have withdrawn up to and including 6 December 2018. Your investment is paid back to you on 7 December 2018 – the 32nd day after your early withdrawal request.
Contact us
- Call us on 0800 269 296. If you are overseas, call +64 4 470 3142 (toll charges apply)
- Send us a Bank Mail request via ANZ Internet Banking
- visit any ANZ branch in New Zealand with photo ID