If you're considering ways to help your child or grandchild achieve a financially secure future, the ANZ Online Investment Account may be the convenient and simple answer you're looking for.
With a focus on long term investment returns and low minimum investment amounts, and the ability to customise account names on ANZ Internet Banking, it may be the perfect way to conveniently track investment progress and teach children about investing from an early age.
Starting early is important
Beginning your investment early and making regular contributions is essential. From as little as $25 per week ($100 per month) you can make a difference to your child's financial future.
Consider the following investment made on behalf of a child.
Note: A typical savings account returned on average 6.68% between July 1983 and August 2008.
If you started investing when your child was born they would have:
- $20,514.24 when your child turned 10
- $37,910.74 when your child turned 15
- $70,371.60 when your child turned 21
Even if you stopped making further contributions after a child turned 21 but they held on to the investment, they would have $320,135.87 at the age of 40.
The ANZ Online Investment Account cannot be opened in the name of a person under the age of 18. Should you wish to invest on behalf of your child, you will need to hold the account in your name.
Account names can be customised to reflect the account purpose. This can be done using the "customise account name" option on ANZ Internet Banking.
This product is jointly issued by ANZ (for the deposit account) and OnePath Funds Management Limited (for the Fund). The performance of an investment in the Online Investment Account is not guaranteed and can be volatile, particularly in the short term. Once the money that you have deposited is invested in the Fund, it is no longer held on deposit by ANZ or subject to any depositor protection under the Banking Act 1959.
Neither ANZ, OnePath Funds Management nor any other company in the ANZ Group guarantees your investment in the Online Investment Account or the performance of the product or its investments. Your investment in the product is subject to a range of investment risks. They include possible delays in the repayment of withdrawals from your investment and loss of income and principal invested.
ANZ and OnePath Funds Management recommend you read the Product Disclosure Statement (PDF 896kB) before deciding to acquire or hold the product.
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