ANZ offers two main savings accounts.
- The Online Saver account provides easy online access to your savings, as well as a higher bonus interest rate for the first three months. It also allows you access to your savings at any time to pay bills via direct debit or using BPAY. It does not charge a monthly account service fee and there is no minimum balance requirement.
- The Progress Saver account can help you save towards a goal by offering a higher bonus interest rate each month you deposit at least $10 and make no withdrawals.
ANZ's Progress Saver may also help to teach children about banking as it makes it easy for them to watch their savings grow.
For customers looking for more than just savings accounts, ANZ also offers home loans, personal loans, credit cards, insurance and superannuation.
ANZ savings account interest calculator
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ANZ savings accounts rates
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Intro 3 months then 0.05%
- No monthly fees
- Progress Saver charges $1 per electronic transaction
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Bonus Saver Account
- Has branch access
- Has no ongoing fees
- Has no minimum balances
While personal loans and medium amount loans don’t offer guaranteed approval, there are steps you can take to help increase the likelihood of your application being approved, including:
- Fulfilling the eligibility criteria (providing ID, proof of residency, proof of income etc.)
- Checking your credit history (you can order one free copy of your credit file per year, and make sure that there aren’t any errors that may be bringing down your credit score)
- Comparing carefully before applying (making multiple loan applications can mean having your credit checked multiple times, which can look bad to some lenders and reduce your chances of being approved by them)
It’s not usually possible to set up a direct debit from your savings account to cover ongoing expenses or bills, as savings accounts are structured around growing your wealth by earning interest on regular deposits, and discouraging withdrawals.
Some transaction accounts allow you to set up direct debits and also earn interest, though you may not enjoy as much flexibility as a dedicated transaction account, or get as high an interest rate as a dedicated savings account.
A lot of savings accounts won’t let you overdraw. Some will allow this feature but you’ll need to apply first. It’s best to read the fine print and check with your lender whether this is a feature they offer. It can be a helpful addition, but as your lender can charge you a fee as well as interest for going into negative numbers, it’s best to avoid overdrafting when possible.