The ANZ Save account is a multi-goal savings account with no monthly account fees. It comes with a linked ANZ Plus account, and both are exclusive to the ANZ Plus app (meaning you won’t see them in any other ANZ app and you won’t see your other ANZ accounts in the ANZ Plus App).
If your total ANZ Save balance is under $250,000, you’ll receive an interest rate of 4.90% p.a (until 1 Sept, 2024, after which additional criteria will apply). If your balance is $250,000 or more, an interest rate of 3.75% p.a. will apply across the whole balance.
The ANZ Save account works hand-in-hand with the ANZ Plus bank account and app to provide customers with a competitive interest rate and money management tools to make the most of their savings.
If your total ANZ Save balance is under $250,000, you’ll be looking at an interest rate of 4.90% p.a. From 1 September, additional criteria will apply but until then you can still earn the higher rates of interest without conditions. For those with savings balances $250,000 and above, the ANZ Save account interest rate drops to 3.75% p.a.
Inside the ANZ Plus app, customers can set up multiple savings goals using separate ‘jars’. The savings interest rate still applies to your total savings, so the money you put towards your goals will accrue monthly to help you reach your targets quicker.
Keep in mind that you won’t be able to access your ANZ Save account through branch, phone banking or Internet Banking on your computer. And you won’t be able to open an ANZ Save account without also having an ANZ Plus account, as the two work together.
While the ANZ Plus Savings account is an online-only product, you'll still be able to message in-app coaches with any queries you have, or if you need assistance, any time between Monday to Friday, 9am to 5pm AEST (excluding National Public Holidays). You can even book an in-person session with a coach that can help teach you how to use the ANZ Plus app and give you a run down on how to spend less and save more.
The ANZ Save account could suit individuals looking for an everyday account and savings account from one of the big four banks that offers digital first access.
To be eligible to sign up, you must be aged of 15 or older and have a valid Australian residential address and valid ID (Australian passport, Australian Drivers licence or International passport).
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Balances from $0: 4.90% p.a. |
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If balance is $250,000 or above a lower rate is applied to the entire balance. |
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ANZ Save account is exclusive to the ANZ Plus app, it is not available through branch, phone or Internet Banking. |
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While ANZ Plus has many appealing features. Along with its highly competitive interest rate, another plus is that there is no minimum monthly deposit required in order to achieve interest. You can also make withdrawals without forfeiting interest, there is one aspect I really don't respect is that their condition on paying interest, which states: "We pay interest into your ANZ Save Account on the last Business Day of each month. It will generally include interest up to (but excluding) that day". This is outrageous. I have never experienced another bank which does it this way and only discovered it when I noticed that my interest for the month of March was much lower than expected. This was a result of Easter falling at the end of March, so I effectively lost 3 full days of interest. After checking the calendar I've discovered that my interest would be affected in this way in June, August and November 2024. Consequently, I am moving my money to a bank with very similar rates who pay interest on the full month. I feel there is no reason for this "feature". It is not commonplace practice and certainly not a good way to do business, particularly in terms of gaining trust. Although it is outlined in the terms, I feel that most people wouldn't even be aware of this.
Read full reviewWhile ANZ Plus has many appealing features. Along with its highly competitive interest rate, another plus is that there is no minimum monthly deposit required in order to achieve interest. You can also make withdrawals without forfeiting interest, there is one aspect I really don't respect is that their condition on paying interest, which states: "We pay interest into your ANZ Save Account on the last Business Day of each month. It will generally include interest up to (but excluding) that day". This is outrageous. I have never experienced another bank which does it this way and only discovered it when I noticed that my interest for the month of March was much lower than expected. This was a result of Easter falling at the end of March, so I effectively lost 3 full days of interest. After checking the calendar I've discovered that my interest would be affected in this way in June, August and November 2024. Consequently, I am moving my money to a bank with very similar rates who pay interest on the full month. I feel there is no reason for this "feature". It is not commonplace practice and certainly not a good way to do business, particularly in terms of gaining trust. Although it is outlined in the terms, I feel that most people wouldn't even be aware of this.
A fabulous product that helps you budget and save at the same time!
Read full reviewA fabulous product that helps you budget and save at the same time!
Yeah same as above plus
Read full reviewYeah same as above plus
Great interest rates and user friendly app
Read full reviewGreat interest rates and user friendly app
It is so easy to use and I can access my accounts at anytime. Only thing is that there is no actual bank I can go to if I’m having problems, but i can chat to them online and resolve any issues I do have.
Read full reviewIt is so easy to use and I can access my accounts at anytime. Only thing is that there is no actual bank I can go to if I’m having problems, but i can chat to them online and resolve any issues I do have.
High Interest Savings Account
5.75% p.a. (for $0 to $250,001)
4.40% p.a.(for $0 to $250,001)
Yes up to $250,000
Reward Saver Account
5.25% p.a. (for $0 to $1,000,000)
0% p.a.(for $0 and over)
Yes up to $250,000
AMP Saver Account
5.40% p.a. (for $0 to $250,000)
1.20% p.a.(for $0 to $5,000,000)
Yes up to $250,000
Savings+Bonus
5.00% p.a. (for $0 to $250,000)
2.00% p.a.(for $0 to $250,000)
Yes up to $250,000
Savings Account
5.35% p.a. (for $0 to $250,000)
4.75% p.a.(for $0 to $1,000,000)
Yes up to $250,000
Save Account
5.10% p.a. (for $0 to $250,000)
0.10% p.a.(for $0 and over)
Yes up to $250,000
Bonus Saver Account
5.00% p.a. (for $0 to $250,000)
0.05% p.a.(for $0 and over)
Yes up to $250,000
High Interest Savings Account
5.75% p.a. (for $0 to $250,001)
Yes up to $250,000
4.40% p.a.(for $0 to $250,001)
Savings Account
5.35% p.a. (for $0 to $250,000)
Yes up to $250,000
4.75% p.a.(for $0 to $1,000,000)
Save Account
5.10% p.a. (for $0 to $250,000)
Yes up to $250,000
0.10% p.a.(for $0 and over)
AMP Saver Account
5.40% p.a. (for $0 to $250,000)
Yes up to $250,000
1.20% p.a.(for $0 to $5,000,000)
Savings+Bonus
5.00% p.a. (for $0 to $250,000)
Yes up to $250,000
2.00% p.a.(for $0 to $250,000)
Reward Saver Account
5.25% p.a. (for $0 to $1,000,000)
Yes up to $250,000
0% p.a.(for $0 and over)
Bonus Saver Account
5.00% p.a. (for $0 to $250,000)
Yes up to $250,000
0.05% p.a.(for $0 and over)
High Interest Savings Account
4.40% p.a.(for $0 to $250,001)
5.75% p.a. (for $0 to $250,001)
Yes up to $250,000
Reward Saver Account
0% p.a.(for $0 and over)
5.25% p.a. (for $0 to $1,000,000)
Yes up to $250,000
AMP Saver Account
1.20% p.a.(for $0 to $5,000,000)
5.40% p.a. (for $0 to $250,000)
Yes up to $250,000
Savings+Bonus
2.00% p.a.(for $0 to $250,000)
5.00% p.a. (for $0 to $250,000)
Yes up to $250,000
Savings Account
4.75% p.a.(for $0 to $1,000,000)
5.35% p.a. (for $0 to $250,000)
Yes up to $250,000
Save Account
0.10% p.a.(for $0 and over)
5.10% p.a. (for $0 to $250,000)
Yes up to $250,000
Bonus Saver Account
0.05% p.a.(for $0 and over)
5.00% p.a. (for $0 to $250,000)
Yes up to $250,000
