ING Australia has launched a new cash investment fund, ANZ flexible term deposit plus, which offers a high interest rate, set monthly, with no lock-in periods.
The fund has the security of being invested in ANZ bank deposits but is not covered by the Government’s deposit guarantee, which allows for a higher interest rate, according to ING’s head of product and marketing for wealth management, Mark Pankhurst.
The new fund together with the similar existing ANZ flexible term deposit fund now gives clients the choice of a higher interest rate or the government guarantee, Mark Pankhurst said.
