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Media Release: Lifts rates on term deposits/loans

Document date:  Fri 04 Feb 2000
Published:  Fri 04 Feb 2000 14:16:21
Document No:  157988
Document part:  A
Market Flag:  N
Classification:  Other

AUSTRALIA & NEW ZEALAND BANKING GROUP LI      2000-02-04  ASX-SIGNAL-G

HOMEX - Melbourne                                                     

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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 gibbingm@anz.com

* Rates apply to Term Deposits between $5,000 and $25,000.