Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Kiwi Icon To Deliver Christmas Cheer

Kiwi Icon To Deliver Christmas Cheer

Sales of Bonus Bonds are expected to rise by close to 300% by the end of December as a 'Grab a million' promotion gains momentum.

'Grab a million' will give anyone who purchases a $20 Bonus Bond or more during December entry into a draw to win a tax paid prize of $1,000,000. One purchaser will be asked to select one of 100 envelopes in the hope that it contains $1,000,000. The other 99 envelopes contain $10,000.

The draw is independent from the regular Bonus Bonds draw which pays over $5,000,000 to bondholders every month.

A similar promotion in March this year led to an unprecedented level of sales, up 270% on the monthly average.

ANZ Head of Consumer and Rural Markets Natalie Sutherland expects December 2002 to eclipse the earlier promotion.

"ANZ branches get thousands of customers through the doors in December looking to buy Bonus Bonds as gifts or for themselves. The chance to become a millionaire as well makes them even more attractive.

"Bonus Bonds are a uniquely Kiwi banking investment. The promotion underlines their unique properties as an investment option which contains the excitement of winning a lottery, but with the security that the funds can be withdrawn at any time."

Bonus Bonds Launched in 1970 and managed by ANZ Investments since 1990, Bonus Bonds is now New Zealand's largest unit trust, worth over $2.2 billion, with over 1 million bondholders.

ANZ Head of Consumer and Rural Markets Natalie Sutherland says that Bonus Bonds have major points of difference from other banking products.

"The investment returns are not distributed proportionally as with most unit trusts," she says. "Instead they are placed in a pool and distributed as prizes to those holders of Bonus Bonds that are selected, at random, in monthly prize draws."

Every month over 150,000 in cash prizes are paid out. The current monthly draw has three major prizes: 1st $300,000; 2nd $100,000; 3rd $50,000; and multiple prizes of $5000, $1000, $500, $100, $50, $20.

"Ease of access is another factor that makes Bonus Bonds such an attractive product for New Zealanders. The minimum starting investment is only $20 and they can bought from any ANZ branch, Postshop, Books and More store, and by phone and mail order."

© Scoop Media

Business Headlines | Sci-Tech Headlines


Nurofen Promotion: Reckitt Benckiser To Plead Guilty To Misleading Ads

Reckitt Benckiser (New Zealand) intends to plead guilty to charges of misleading consumers over the way it promoted a range of Nurofen products, the Commerce Commission says. More>>


Half A Billion Accounts: Yahoo Confirms Huge Data Breach

The account information may have included names, email addresses, telephone numbers, dates of birth, hashed passwords (the vast majority with bcrypt) and, in some cases, encrypted or unencrypted security questions and answers. More>>

Rural Branches: Westpac To Close 19 Branches, ANZ Looks At 7

Westpac confirms it will close nineteen branches across the country; ANZ closes its Ngaruawahia branch and is consulting on plans to close six more branches; The bank workers union says many of its members are nervous about their futures and asking ... More>>

Interest Rates: RBNZ's Wheeler Keeps OCR At 2%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2 percent and said more easing will be needed to get inflation back within the target band. More>>


Half Full: Fonterra Raises Forecast Payout As Global Supply Shrinks

Fonterra Cooperative Group, the dairy processor which will announce annual earnings tomorrow, hiked its forecast payout to farmers by 50 cents per kilogram of milk solids as global supply continues to decline, helping prop up dairy prices. More>>



Meat Trade: Silver Fern Farms Gets Green Light For Shanghai Maling Deal

The government has given the green light for China's Shanghai Maling Aquarius to acquire half of Silver Fern Farms, New Zealand's biggest meat company, with ministers satisfied it will deliver "substantial and identifiable benefit". More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news