The bank has said that the rates of the deposit products will rise by 0.25%. The rate of the ANZ Progress Saver which will be up by 0.25% per annum and also the rates of certain new term deposits will also rise. The new term deposits include the three month term deposit which will be up by 7.25% per annum, the six month term deposit which will be up by 7.30% per annum and the 12 month term deposit which will be up by 7.35% per annum.
The interest rates for ANZ’s variable mortgage products will increase by 0.25% per annum for new and existing customers. The new rates include an increase of 9.02% per annum for Standard Variable Rate Home Loan, 8.42% per annum for Money Saver and 9.02% per annum for Equity Manager. The bank said that with effect from February 12, 2008, the interest rates on selected credit cards will increase by 0.25% per annum.
Brian Hartzer, managing director personal, said: The majority of our customers are continuing to manage their home loan repayments well and mortgage arrears are still in sound shape although pressures exist in some specific areas.
