Bonus Bonds are ending after decades of investments

ANZ has announced it won't accept new money into its three-billion dollar scheme, and it's winding up by the end of October.

ANZ's Ben Kelleher says investors have two choices - they can redeem their Bonds before then, or wait and be entitled to a share of the remaining reserves, after expenses.

He says they are confident the reserves are sufficient for bondholders to get their money back.

Kelleher says the low interest rates caused by Covid-19 have affected investment returns, reducing the prize pool.