Media Release: Lifts rates on term deposits/loans
Fri 04 Feb 2000
Published: Fri 04 Feb 2000 14:16:21
Document No: 157988
Document part: A
Market Flag: N
AUSTRALIA & NEW ZEALAND BANKING GROUP LI 2000-02-04 ASX-SIGNAL-G HOMEX - Melbourne +++++++++++++++++++++++++ ANZ today announced it would increase interest rates on term deposits, and variable home and residential investment loans following recent increases in the wholesale cost of funds and the Reserve Bank of Australia's decision to lift the Official Cash Rate. From 7 February 2000, interest paid on new Term Deposits will increase with the rate for six and twelve month Term Deposits rising to 5.6% and 6.10% respectively*. The interest rate for ANZ's standard variable housing loan, which has no monthly fees, will increase by 0.50%, from 6.80% to 7.30%. The rate change is effective from 11 February and increased repayments for existing customers will apply from mid March onwards. ANZ Head of Personal Financial Services, Mr Peter Hawkins said ANZ continued to offer customers attractive financial services deals with highly competitive deposit and lending rates. "We are pleased to be able to increase interest paid on new Term Deposits. Our Term Deposit rates have consistently been amongst the highest in the market," Mr Hawkins said. ANZ Housing Loans continue to offer a range of other benefits including: * No monthly fees on standard variable and fixed rate loans. * The ability to link standard variable rate loans to a 100% mortgage offset account, with the account balance working daily to reduce the interest payable on the loan. For media enquiries, please contact: Michelle Gibbings Media Relations Manager Tel: 03 - 9273 6190 or 0409-655 551; email email@example.com * Rates apply to Term Deposits between $5,000 and $25,000.