ANZ raises term deposit rates

The ANZ Bank has lifted fixed-term home loan interest rates by as much as 20 basis points, taking its lead from the recent sharp rise in longer-term bond yields, The Australian reports. ANZ’s three-year fixed rate has increased from 6.7 per cent to 6.9 per cent.

InfoChoice has found the number of financial institutions raising fixed terms rates has begun to increase in recent weeks as the interest rate cycle turns upwards and variable rate rises are imminent. Fixed loan rates have been rising for some time and it now appears the welcome flow-on to savers is starting to happen.

See InfoChoice's term deposit comparison feature for more information.