Changes to ANZ rates, fees and agreements
Changes to ANZ Business overdraft interest rates
Notice published 11 February 2025
We're making changes to some of our business overdraft interest rates. See below for a summary of the changes and effective date.
New rate (p.a.) | Change (p.a.) | Effective date | |
|---|---|---|---|
Commercial Overdraft base rate | 12.10% | -0.25% | 11 February 2025 |
Business Bank Indicator Rate (BBIR) | 12.10% | -0.25% | 11 February 2025 |
Agri Current Account base rate | 10.30% | -0.25% | 11 February 2025 |
Business Overdraft base rate | 14.10% | -0.25% | 11 February 2025 |
Interest rates are subject to change. Our lending criteria, terms, conditions, and fees apply.
Changes to our ANZ General Terms and Conditions and ANZ Electronic Banking Conditions
Notice published 31 January 2025
From 18 February 2025, we’re updating our ANZ General Terms and Conditions and ANZ Electronic Banking Conditions as we introduce a new Confirmation of Payee service for our customers.
Where to find the changes we’re making
- In our General Terms and Conditions, under the section 'Check before confirming an electronic payment'.
- In our Electronic Banking Conditions, under the section 'How to find information about making electronic payments'.
These sections will be updated to include the following paragraphs:
‘Check all payment details before confirming electronic payments. We don't check details for you. If you pay the wrong person or amount, you may have trouble getting your money back. See 'What happens if you have a problem with your electronic payment.'
We offer a Confirmation of Payee service for some banking channels. See our website for details. This service lets you check if account names and account numbers match before paying. Be alert to scams - verify who you're paying and why. You can still pay the wrong person or amount and, unless we were negligent, we're not responsible if that happens. We also don't accept responsibility for any information you, another bank, or another party used in a Confirmation of Payee check or if someone refuses or delays a payment following a Confirmation of Payee check. We also do not check any reference fields in payments.’
More information about this service is on our Confirmation of Payee page.
Use of password managers
We’re also updating our ANZ General Terms and Conditions and ANZ Electronic Banking Conditions to clarify that you can use a secure password manager to save your banking passwords, provided you take reasonable care when doing so. For tips about password managers, see ownyouronline.govt.nz.
You can find the changes:
- In our General Terms and Conditions, under the section ‘How to help protect your PINs, passwords and biometric identification’.
- In our Electronic Banking Conditions, under the section ‘How to help protect yourself and your information’, ‘How to help protect your PINs, passwords and biometric identification’, and ‘Your responsibility for unauthorised use of our electronic banking services’.
Our updated documents will be available from 18 February 2025 on our General terms and conditions page or on request from any ANZ branch.
Changes to information about contacting us in our ANZ Electronic Banking Conditions
Notice published 17 January 2025
We are making some small changes to our Electronic Banking Conditions effective 3 February 2025.
We are updating the paragraph under the heading ‘How we can use your mobile number’ in the goMoney section to explain that if you call us via the ‘Contact us' page in the ANZ goMoney app, your device will exit goMoney and the call will be made using the native dialling app on your device.
We may automatically authenticate you using a one-time secure code added to our phone number. We will also check that the number you are calling from matches the number we have recorded for you in your customer profile. If it matches, you agree that we can consider your identity verified for that call. Charges apply to calls from overseas.
We are also updating the paragraph under the heading ‘You may be charged fees for using goMoney’ in the goMoney section to explain that your mobile service provider may charge additional fees if you call us from overseas.
The updated ANZ Electronic Banking Conditions document will be available from 3 February 2025.
Changes to our Business Overdraft Facility Terms and Conditions
Notice published 5 December 2024
Effective from 4 January 2025 we’re making changes to our Business Overdraft Facility Terms and Conditions to clarify:
- How interest and Overdraft Management fees are charged and paid, where we have agreed that they can be paid from a different account.
- How we can provide notices relating to your Business Overdraft Facility electronically, including by making notices available through our website and online channels.
For the full details of the changes see below.
If you have been provided with a new Business Overdraft Facility since 28 September 2024 or have received the Business Overdraft Facility terms and conditions since that date, then your terms and conditions will already incorporate these changes.
Changes to our terms and conditions
Clause 4.1(b) (Authority to Deduct Payments)
Current clause
(b) The Interest and Overdraft Management fees on each Payment Date, or any date on which the Bank makes demand pursuant to clause 3; and
New clause
(b) The Interest and Overdraft Management fees on each Payment Date, or any date on which the Bank makes demand pursuant to clause 3. If the Bank has agreed for Interest or Overdraft Management fees to be paid from a different account, the Bank will add the Interest or Overdraft Management fee to the balance of this Facility on the Payment Date and debit the other account on the next day (Interest) or business day (Overdraft Management fee) to pay the amount of the Interest or Overdraft Management fee; and
Clause 10.1 (Notices)
Current clause
10.1 Notices (other than public notices) under this Facility and for the purposes of all disclosure required by the Credit Contracts and Consumer Finance Act 2003 may be:
(a) Given to the Customer;
(b) Sent by post to the Customer at the address shown on the letter attached, or any other address notified by the Customer or, if the Customer has left that address (or the last notified address) to the Customer care of the Bank at the Branch address;
(c) Sent to the information system specified by the Customer for the purpose of receiving those notices if the Bank’s practice is to give notices in electronic form by electronic means
New clause
10.1 Notices (other than public notices) under this Facility and for the purposes of all disclosure required by the Credit Contracts and Consumer Finance Act 2003 may be:
(a) Given to the Customer;
(b) Sent by post to the Customer at the address shown on the letter attached, or any other address notified by the Customer or, if the Customer has left that address (or the last notified address) to the Customer care of the Bank at the Branch address;
(c) Sent by email to the Customer using the last email address the Customer has provided to the Bank;
(d) Included on a website or online channel the Customer can access, like ANZ Internet Banking or ANZ goMoney.
Change to ANZ Institutional Overdraft Base Rate
Notice published 3 December 2024
We’re making a change to our Institutional Overdraft Base Rate. See below for a summary of this change and effective date.
New interest rate (p.a.) | Change (p.a.) | Effective date | |
|---|---|---|---|
Institutional Overdraft Base Rate | 7.55% | -0.50% | 17 December 2024 |
Interest rates are subject to change.
Change to ANZ interest rates
We're making changes to some of our home loan and account interest rates. See below for a summary of the changes and effective dates.
ANZ Home loans
New rate (p.a.) | Change (p.a.) | Effective date new loans | Effective date existing loans | |
|---|---|---|---|---|
ANZ Floating Home Loan | 7.39% | -0.50% | 3 December 2024 | 10 December 2024 |
ANZ Flexible Home Loan | 7.50% | -0.50% | 3 December 2024 | 3 December 2024 |
ANZ Business Flexible Facility – Base Rate | 7.39% | -0.50% | 3 December 2024 | 3 December 2024 |
ANZ Interest-bearing accounts
Account balance | New rate (p.a.) | Change (p.a.) | Effective date | |
|---|---|---|---|---|
ANZ Online Account | $0.00+ | 1.50% | -0.50% | 10 December 2024 |
ANZ Business Premium Call Account | $0.00+ | 1.50% | -0.50% | 10 December 2024 |
ANZ Agri Current Account | $0.00+ | 1.20% | -0.50% | 10 December 2024 |
ANZ Agri Personal Account | $0.00+ | 0.10% | -0.40% | 10 December 2024 |
ANZ Business Premium Current Account | $0.00+ | 1.20% | -0.50% | 10 December 2024 |
ANZ Select Account | $5,000+ | 0.40% | -0.40% | 10 December 2024 |
ANZ Serious Saver account
New rate (p.a.) | Change (p.a.) | Effective date | |
|---|---|---|---|
Standard interest rate | 0.85% | N/A | 30 November 2024 |
Premium interest rate^ | 2.40% | -0.50% | 30 November 2024 |
Total interest rate | 3.25% | -0.50% | 30 November 2024 |
^To earn premium interest, you must make no withdrawals and deposit $20 or more (not including credit interest) on or before the last business day of the month.
Interest rates are subject to change. Our lending criteria, terms, conditions, and fees apply. A copy of our Reserve Bank Disclosure Statement is available online or on request from any ANZ branch.
Changes to benefits available under ANZ banking packages
Notice published 21 November 2024
We’re making a change to the benefits available under our ANZ banking packages. This means that ANZ will no longer offer a benefit for ANZ Life & Living Insurance under ANZ banking packages from and including 5 December. This change will not affect existing ANZ Life & Living Insurance policyholders who have signed up under an ANZ banking package.
This change impacts the terms and conditions for the following ANZ banking packages: ANZ@work, ANZ Staff Banking and Retired Officer, Law and Accounting Professionals, Franchise, Early Childcare Council and NZ Bar Association packages.
For information about a specific package, including package eligibility criteria and package benefits, or a copy of the new ANZ banking package Terms and Conditions, call our team on 0800 269 296 or visit any ANZ branch. ANZ Life & Living Insurance is provided by Chubb Life Insurance New Zealand Limited. No member of ANZ Bank New Zealand Limited and its related companies, or any other person, guarantees Chubb Life or any of its subsidiaries, or any of the products issued by them.
Changes to the Fair Trading Act and our standard form small trade loan contracts
Effective from 16 August 2022
We’ve reviewed and made changes to our standard form small trade loan contracts to comply with certain changes to the Fair Trading Act 1986. Those changes extend protections that currently apply to customers who have standard form consumer contracts to customers on standard form small trade contracts.
What are standard form small trade loan contracts?
Small trade contracts are defined in section 26C of the Fair Trading Act 1986 and standard form contracts are defined in section 46J of the Fair Trading Act 1986. If your loan or facility with us is a small trade contract and is documented on any of the ANZ template standard form contracts set out at the end of this notice, then that is a standard form small trade loan contract for the purposes of this notice.
What are the changes?
Generally, we’ve made the following changes to our standard form small trade loan contracts covered by this notice:
- Events of default clauses: Where our standard form small trade loan contracts include default clauses, we’re including remedy periods or materiality thresholds into some of the circumstances that could result in you being in default
- Indemnities: Where you’ve given us an indemnity, we’re generally limiting the scope of costs we can recover from you under that indemnity
- Unilateral changes: We’re:
- clarifying the changes we can make to standard form small trade loan contracts and what you can do if you’re not happy with the changes we’re making; and
- limiting when we can make those changes immediately and generally extending the notice period to 30 days’ notice for other changes - Limitation of liability: We’re generally not limiting our liability for loss or damage that arises from our gross negligence or wilful misconduct
- Entire agreement clauses: We’re not excluding prior statements or representations that may have been made
- Conclusive evidence clauses: Where we determine an amount, such as how much you owe us, and we say it is conclusive or binding on you, you’ll be able to ask us how we’ve calculated that amount if you think it’s incorrect.
What contracts and customers are impacted?
New and existing small trade customers will both benefit from these changes we have made. From 16 August 2022 the standard form small trade loan contracts we issue, and the processes we apply to the existing standard form small trade loan contracts that are signed, varied or renewed from that date, will reflect the changes we’ve outlined above.
ANZ template standard form small trade loan contracts governed by this notice
- Commercial and Corporate Facility Agreements (and associated general conditions or general conditions – development)
- Agri Loan Agreements
- Agri Current Account Agreements
- Business Overdrafts (and associated overdraft terms and conditions)
- Commercial and Corporate Development and Investment Facility Agreements and Investment Facility Agreements (and associated general conditions)
If you have received a Loan Summary or Flexible Facility Summary from us that’s issued under the Business Loan Terms and Conditions or the Business Flexible Facility Terms and Conditions, we’ve separately updated those terms and conditions effective from 16 August 2022 – please visit our business agreements page to view those terms and conditions.
Important information
Our eligibility criteria apply. Fees and interest rates are subject to change. For full details see our Reserve Bank Disclosure Statement, Terms and Conditions and Fees and Charges, or you can request these, free of charge, from any ANZ branch.
Apple, the Apple logo, iPhone, iPad, Apple Pay and Touch ID are trademarks of Apple Inc. registered in the US and other countries and regions. App Store is a service mark of Apple Inc. Eligibility criteria and terms and conditions apply to Apple Pay. For more information see Apple Pay with ANZ.
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