ANZ Online Saver Account

Take advantage of monthly interest and at-call access to your savings.

The ANZ Online Saver Account offers new account holders an introductory bonus rate of 0.3% p.a. for the first 3 months after opening the account.

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Shirley Liu

Last Updated Dec 30, 2020

0.3% p.a.

Maximum variable rate

0.05%p.a.

Base interest rate

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Product Name	ANZ Online Saver
Maximum Variable Rate	0.3% p.a.
Standard Variable Rate	0.05%
Monthly Account Fee	$0
Minimum Opening Deposit	$0
Minimum Age	12

Pros

Introductory rate of 0.3% p.a. for first 3 months
$0 Account keeping fees
Interest rate is available on the entire balance
Suitable for short-term savings goals

Cons

Interest rate drops to 0.05% p.a. after the introductory period
Must link to an ANZ Everyday transaction account
Only available to new account holders

Review by

Shirley Liu

shirley@finder.com.au

Shirley Liu is Finder's global program manager. She was previously the publisher for banking and investments and has also written comparisons for energy, money transfers, Uber Eats and many other topics. Shirley has a Master of Commerce and a Bachelor of Media, Journalism and Communications from the University of New South Wales. She is passionate about helping people find the best deal for their needs.

Expert review

This account is suited for short-term savings goals.

Key features

Bonus interest of 0.3% p.a. for the first 3 months

New customers are given a bonus rate on top of the variable standard interest rate, just for opening the Online Saver account. This introductory interest rate lasts for 3 months before it will revert back to the standard interest rate. The bonus rate offer is only available to new ANZ Online Saver customers who have not held an ANZ Online Saver account during the last 6 months.

Standard interest rate of 0.05%

After the introductory period, the rate will revert to the standard variable rate.

Online accessibility

You can transfer funds in and out of your savings account easily by logging into your account and making the transfer. You can use ANZ internet banking, phone banking or the ANZ App to log into your savings account whenever you need to.

Linked bank account

You can only link this account with an ANZ Everyday transaction account. This account can only be linked to: the ANZ Access Advantage, ANZ Access Basic or ANZ Pensioner Advantage. Please note that fees could apply to these accounts and these accounts all come with linked debit cards.

Direct debits

The ANZ Online Saver account can support direct debits, but cannot support periodical transfers.

$0 fees

The ANZ Online Saver carries no monthly service fees.

No minimum balance

With an ANZ Online Saver you are not required to maintain a monthly minimum balance.

How is my interest calculated?

Your interest will be calculated daily and deposited into your account at the beginning of the following month. It is a variable interest rate, so will most likely move alongside the RBA cash rate.

Easy-to-use app

With a 4 digit pin to log in, you can access your ANZ online saver from an iPhone or Android mobile phone. The ANZ App offers fingerprint login, and allows you to check your balance and transfer money between accounts as well as pay bills on the go.

Transfer instantly between ANZ accounts

You can transfer funds instantly between your ANZ Everyday account and your ANZ Online Saver account, so you have the convenience of accessing larger amounts of money in real time should you ever need to. Just remember, while you be able to access the money in real time, it may still take up to 3 business days for the funds to clear to an external account.

Protected by the Government Guarantee

The ANZ Online Saver is protected by the Australian Government guarantee scheme, securing that your deposits of up to $250,000 are safe.

Launch savings calculator

How to apply

Eligibility

There are some eligibility requirements you should make sure you can meet before proceeding to the application:

Minimum age. Applicants for the ANZ Online Saver must be at least 12 years old.
Residency requirements. Only Australian residents with a valid Australian address can open an ANZ Online Saver.

Depository requirements. There is no minimum deposit requirement, but you will have to provide account information for an ANZ transaction account in order to transfer money.

Documentation needed

When filling out the application you are going to need information from the following documentation:

Tax file number. Depending on your circumstance and the amount of interest earned, you could be required to pay taxes to the Australian government. Providing your tax file number ensures that the correct taxes are applied.
Identification. All Australian banks require that you are able to verify your identity using a valid driver's licence, passport or other documentation such as a utility bill.
Transaction account. Be sure that you have your transaction account information ready in order to be able to link the accounts.

What happens after I submit my application?

Completing the application should take about ten minutes after which it will be processed through ANZ who will set up your savings account within two business days.

What if I'm a non-resident or not eligible to apply online?

If you're currently overseas but planning to migrate to Australia, you can open an ANZ online saver before you arrive. If you're not eligible to apply online or if none of the above situations apply to you, please visit your local ANZ branch to apply.

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24 Comments

Serdal
June 17, 2019

I’m a current ANZ customer. What is the best term and rate for term deposit or any other type of account?

finder Customer Care

Jeni
June 18, 2019

Hi Serdal,

Thank you for getting in touch with Finder.

If you consider having an ANZ term deposit account, I suggest that you get in touch with ANZ since you’re an existing customer as they may give you better options.

If you’re still looking around, you can start comparing your term deposit options. Once you’ve chosen the bank to invest with, please click on the ‘Go to site’ button to be redirected to the bank’s website to start your online application.

Please make sure that you’ve read the relevant T&Cs or PDS of the account to help consider whether the product is right for you.

I hope this helps.

Thank you and have a wonderful day!

Cheers,
Jeni

Joe
January 15, 2019

I’m a current ANZ customer. Can I renew my online save account or not?

finder Customer Care

Charisse
January 17, 2019

Hi Joe,

Thanks for reaching out to finder.

Once you have an ANZ Online Saver account, there is no need to renew the account. The account will just continue to operate along side your other accounts until such time you decide to close or terminate the account.

I hope this helps.

Cheers,
Charisse

Aneeta
January 16, 2017

I am an ANZ customer and I want to save money for holiday like $25 per week.

Which account is the best for this type of option

finder Customer Care

May
January 16, 2017

Hi Aneeta,

Thank you for your inquiry.

Basically, you can go with a savings account for that purpose. If you’ve already decided to go with ANZ Online Saver, you may open an account by clicking the green “Open” button above.

Meanwhile, you can also check your other online savings account options featured on our website.

You can use the calculator above the table on that page to calculate your approximate interest earnings by indicating your initial and monthly deposits as well as term/period of investment.

Cheers,
May

Michael
December 21, 2016

Please advise if this account is available to business customers

finder Customer Care

Dee
December 21, 2016

Hi Michael,

Thanks for your question.

The ANZ Online Saver Account is for individuals only.

You may want to compare business savings accounts featured on our website to explore your other options.

Cheers,
Anndy

Sarah
August 31, 2016

Can I renew the online saver after three months and receive the bonus interest rate again?

finder Customer Care

Dee
August 31, 2016

Hi Sarah,

Thanks for your question.

Unfortunately, that is not possible. The bonus interest rate offer is only available to new ANZ Online Saver customers who:

– Have not held an ANZ Online Saver account during the last 6 months
– Have submitted an application online.

After 3 months, the interest rate will revert to the standard variable rate.

Cheers,
Anndy

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