ANZ Savings Accounts
Compare ANZ savings accounts
Considering a savings account from ANZ? The table below displays a snapshot of ANZ savings accounts on Canstar’s database, sorted by Star Rating. These results are based on a regular saver in NSW with $10,000 in current savings.
What savings accounts does ANZ offer?
ANZ offers the following savings accounts, at the time of writing:
ANZ Progress Saver
This account offers bonus interest when you make a single deposit of $10 or more in a month with no withdrawals.
Key features of an ANZ Progress Saver account
- Monthly account fee: $0
- Minimum balance: There is no minimum amount required to open or maintain your account.
- Minimum age: There is no minimum age for opening a Progress Saver account and under 18s can apply for a transaction fees waiver.
- Account access: Access your account online, in an ANZ branch or through the ANZ mobile banking app.
- Link accounts: Link your ANZ Progress Saver to your everyday banking account and set up automated transfers to ensure that you make your monthly deposit.
- Transactions: Receive one free transaction from your ANZ Progress Saver account each month. After that, electronic transactions are $1 each and staff-assisted transactions are $2.50 each. You can make unlimited transactions using the mobile app or internet banking each month for free.
How can I get bonus interest on my ANZ Progress Saver account?
The ANZ Progress Saver account offers a bonus variable interest rate each month if you make a single deposit of $10 or more. The bonus interest will not apply if you make a withdrawal or incur fees and charges throughout the month. If you cannot fulfil the bonus interest requirements, you will get the low base interest rate and will be eligible to earn the bonus interest again the following month.
Who may the ANZ Progress Saver account suit?
The ANZ Progress Saver may suit beginner savers who are committed to making regular small deposits into their savings without making withdrawals.
ANZ Online Saver
The ANZ Online Saver is a savings account with bonus interest available for the first three months. This account allows you access your savings via your linked ANZ everyday bank account.
At the time of writing, some key features of the ANZ Online Saver account include:
- Monthly account fee: $0
- Minimum balance: There is no minimum balance required to open or maintain your account.
- Account access: Access your account online, in an ANZ branch or through mobile banking.
- Link accounts: An ANZ Online Saver requires a linked everyday banking account. Eligible accounts include ANZ Access Advantage, ANZ Access Select, ANZ Access Basic, ANZ Pensioner Advantage, ANZ Progress Saver, ANZ V2 PLUS and ANZ Premium Cash Management Account. Make unlimited instant transfers between a linked ANZ everyday banking account each month.
- Bonus rate: You can receive a bonus interest rate for three months when you open your first ANZ Online Saver account, even if you make a withdrawal. To qualify, you must not have held an Online Saver account in the last 6 months or more. The three months bonus interest is only available on your first ANZ Online Saver account.
ANZ Premium Cash Management Account
This account offers tiered interest rates depending on your balance, and promises easy access to your money.
At the time of writing, some key features of the ANZ Premium Cash Management Account include:
- Monthly account service fee: $0
- Minimum balance: Requires a minimum opening deposit of $10,000 and an ongoing minimum balance of $1,000.
- Account access: Access your account online, in an ANZ branch or through the ANZ mobile banking app. You receive five free ANZ transactions each month.
- Bonus rate: An ANZ Premium Cash Management account offers tiered variable interest rates depending on your account balance. The balance of your account each day determines the interest rate that is applied.
You can view the current interest rates on ANZ savings accounts in our comparison tables.
Do ANZ savings accounts require a linked transaction account?
The ANZ Online Saver is the only ANZ saving account that requires a linked account. You can link ANZ savings accounts to an ANZ everyday banking account at any time to access your savings.
If you’re looking to compare transaction accounts, you can use Canstar’s comparison tables to potentially find one that suits your requirements.
Does ANZ charge fees on its savings accounts?
Savings accounts can come with several fees, such as monthly account-keeping fees, transaction fees, withdrawal fees and more. ANZ charges no monthly account keeping fees on its Online Saver, Progress Saver and Premium Cash Management accounts at the time of writing.
The ANZ Progress Saver account includes one free transaction each month. After this, electronic transactions are $1 each and staff assisted transactions are $2.50 each, at the time of writing. Transactions via the mobile app and internet banking are free. A Premium Cash Management account charges $2.50 per staff-assisted transaction and $0.50 each for electronic and cheque transactions.
For current information on fees and how they apply, please check the Product Disclosure Statement.
What does ANZ offer in terms of mobile banking for savings accounts?
ANZ offers both online and mobile banking for its savings products. There is also an ANZ mobile app which is free to download from both the App Store and Google Play. Notable features of ANZ’s mobile banking include:
- Your banking, insurance, investments and super all in one place
- You can track your daily spending and set daily budgets, among other things
- You have access to cardless cash via your digital wallet
- You can check balances from your home screen without logging in to your phone app
- There is voice ID for payments over $1000
How to apply for a ANZ savings account
Before applying for a ANZ savings account, consider comparing it against some other savings accounts on the market to ensure it is the right one for you.
You can apply for a ANZ savings account online, provided you have the correct documentation:
- At least one form of ID, such as your driver’s license or passport
- Accurate personal information, such as your name, date of birth, address and phone number
Once your account is opened, ANZ may require you to transfer in a minimum amount before your account can be activated – check the PDS document for more information on how much you might need to deposit.
ANZ was founded in 1835 in London and Sydney as the Bank of Australasia. ANZ is one of the big four banks in Australia, and is the largest banking group in the Pacific and New Zealand region. According to ANZ’s website, the company is ranked among the top 50 banks in the world, operating in 33 markets globally. Its current headquarters are located in Melbourne.
Cover image source: anz.com.au