ING has launched a term deposit on its OneAnswer platform, offering investors a no-lock in period through its ANZ Flexible Term Deposit Fund.
Fund investors are offered interest rates (paid monthly) of 7.30 per cent per annum through OneAnswer and 7.60 per cent through OneAnswer Select, after platform fees.
A key feature of the term deposit is that investors have no lock-in period and no pre-set maturity to receive the rate, according to ING head of product for personal investments George Lytas.
“Rather than introduce yet another term deposit product, ING decided to deliver a product with all the benefits of a term deposit, but without the key negative — the lock-in.
“So forget 90 days, 180 days or even 365-day terms!” he said.
