ANZ Progress Saver

ANZ Progress Saver

Maximum Variable Rate


Standard Variable Rate


Earn bonus interest on your savings each month you make a single deposit of at least $10 and no withdrawals.

  • Ongoing, variable 2.40% p.a when you deposit at least $10 a month and make no withdrawals
  • Bonus interest is available on the entire balance
  • 24/7 access to funds via Internet banking and the ANZ App
  • Can link to any Australian transaction account

Product details

You're encouraged to save with the ANZ Progress Saver account. It rewards you with a competitive bonus interest rate just for making a single monthly deposit of $10 or more, and no withdrawals. Set regular transfers into your savings account from the ANZ Access Advantage everyday account, and track your progress via the ANZ App or Internet banking.

This savings account has a small minimum monthly deposit requirement compared to other savings accounts in the market, making it easy to earn the bonus interest.

Product Name
ANZ Progress Saver
Maximum Variable Rate
2.40% p.a.
Standard Variable Rate
0.01% p.a.
Bonus Variable Rate
2.39% p.a.
Introductory / Bonus Offer Conditions
The ANZ Progress Saver account pays a bonus interest rate of 2.39% p.a. when you make a single deposit of $10 or more monthly with no withdrawals.
Monthly Fee
Minimum Opening Deposit
Minimum monthly deposit for bonus interest rate
Internet Banking
Internet Transaction Fee
Phone Banking
Phone Transaction Fee
Joint application?
Minimum Age Requirement
Maximum Age Requirement
No Maximum Age
Covered by Government Guarantee?
Yes (Up to $250,000 per person, per institution)

What are the features of the ANZ Progress Saver?

When comparing this account with others in the market, consider the following key features.

Earn up to 2.40% p.a. when you deposit at least $10 per month and make no withdrawals

You receive a bonus interest rate of 2.39% p.a. if you deposit at least $10 by the last business day of the month and there are no withdrawals, charges or fees processed on the account in that same month. If you intend to make this deposit towards the end of the month, note that it could take a few business days to process the transaction.

Base interest rate of 0.01% p.a.

The standard interest rate on balances is 0.01% p.a.. This applies if you can't meet the requirements outlined above, so make sure you can meet the account requirements before opening this account.

$0 monthly account service fee

There is no monthly fee for an ANZ Progress Saver account.

$10 minimum opening deposit

When you open your account, you need to deposit at least 10.

Interest is calculated daily

The interest is calculated daily, and then paid monthly on the last business day of each month. It is a variable interest rate, meaning it can change at any time.

Link to any Australian bank account

You can link this account to any Australian transaction account. You can set up regular transfers from your existing Australian bank account that will ensure the $10 monthly deposit obligation is met.

Transaction fees

The first transaction conducted each month is for free. After that you will be charged $2.50 for a transaction with a teller and $1.00 for each electronic transaction. Also, if you make a transaction from your ANZ Progress Saver you won't be eligible for the bonus interest that month.

Under 18 years old

If you are under 18 years of age you can have all transaction fees waived for your account.


You can view your savings progress at any time using ANZ’s free Internet Banking or the ANZ App on your eligible iOS or Android device. You'll get 24/7 access with a savings graph every statement to show you how you're tracking with your saving.

Personal use only

This account can only be opened under a personal name and is not for business use. If you want to open this account for a child under 12, the account should be opened in the name of an adult but as a trust for the child.


  • $0 ongoing fees
  • Competitive bonus interest rate up to 2.40% p.a.
  • Small minimum monthly deposit requirement of just $10
  • Can be linked to any Australian everyday bank account


  • You can't make any withdrawals if you want to receive the bonus interest rate
  • Low base variable rate of 0.01% p.a. if account conditions aren't met

How do I apply for the ANZ Progress Saver?

If you like the idea of bonus interest just for making a small monthly deposit then you can apply for the ANZ Progress Saver online in less than 10 minutes.

Eligibility to apply online

  • Age. Anyone of any age may open an ANZ Progress Saver account, although for children under the age of 12 it is recommended that the account be opened in the name of an adult who is holding the account in trust for the child.
  • Residency. Only Australian residents with a valid Australian residential address may open an account. You must already be an existing ANZ customer or be able to complete the ANZ customer identification process in Australia when the account is opened.
  • Deposit. You will need to make an initial deposit of at least $10 when opening the account.
  • Account purpose. This savings account is only for use by individuals for private or domestic purposes. It is not meant for any business purpose.

Documents you'll need to supply online

  • Identifying documents. You will be asked to supply the number of a valid Australian identification document. This could include a driver’s licence or passport. If neither of these is available, you could use your birth certificate accompanied by another form of non-photo ID such as a utility bill.
  • Linked account numbers. If you are an existing ANZ customer and would like to link the savings account with your ANZ Access Advantage everyday account, you will need to be able to provide an account number.
  • Non-residents. If you are currently living overseas with plans on coming to Australia you will need the non-Australian resident form to complete the application.

What happens after I apply?

If you are prepared with the right documentation, filling out the application form should take only ten minutes. Once submitted, your new savings account will be opened within two business days. You can then set up automatic transfers from your everyday account to ensure you are making the minimum monthly deposit required to receive the bonus interest.

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

If you intend of moving to Australia, ANZ has specialist migrant services to help you open an account before you arrive. Otherwise, if your situation is none of the above, please get in touch with ANZ over the phone or visit your local ANZ branch to open an account.

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16 Responses

  1. Default Gravatar
    marcusNovember 3, 2017

    Can a SMSF use an ANZ Progress Saver Account?

    • Default Gravatar
      JonathanNovember 3, 2017

      Hi Marcus,

      Thank you for your inquiry.

      ANZ Progress Saver Account is designed for personal private or domestic use only, not for SMSF. This information is available on ANZ Savings and Transaction Product Terms and Conditions.

      We have options for superannuation bank accounts on this page instead.

      Alternatively, you can contact your superannuation fund or financial adviser for advice relating to your particular circumstances.

      Hope this helps.


  2. Default Gravatar
    November 4, 2016

    How do i transfer money from my progress saver account to my linked everyday account?

    • finder Customer Care
      HaroldNovember 4, 2016Staff

      Hello Charles,

      You can transfer funds to your everyday account by logging onto ANZ Internet Banking, or the goMoney iPhone or Android app. You can also transfer funds using ANZ Phone Banking. I’d recommend contacting ANZ directly to find out exactly how this is done.

      I hope that helps.


  3. Default Gravatar
    NazMay 11, 2016

    I am thinking transfer my super fund to self manage, if I decide to keep all money to a bank account where my fortnightly employer contribution will go as well,
    Question – what is the current interest rate?
    > is there any hidden bank fee
    > anything you can add in terms of pros and cons.


    • finder Customer Care
      ShirleyMay 11, 2016Staff

      Hi Naz,

      Thanks for your question.

      Please note that the ANZ Progress Saver is only available for personal accounts and is not a SMSF product.

      ANZ has a separate range of products designed for SMSFs.

      You can use the ANZ Progress Saver as a personal bank account, where your employers pays your salary into it.

      All the fees are disclosed through the Product Disclosure Statement.

  4. Default Gravatar
    BeauApril 29, 2016

    How do i get the money out of the progress saver account?

    • finder Customer Care
      ShirleyMay 2, 2016Staff

      Hi Beau,

      Thanks for your question.

      There are a few ways you can take it out: 1) electronic transfer (but you’ll need to speak to ANZ directly to get it linked to your online account if you haven’t already done so) or 2) do it over phone or within a branch.

      Hope this helps.

  5. Default Gravatar
    ShelbeyJanuary 28, 2016

    Me and my partner want to open an account together for us to save up to buy a house. We are not married, but want to make the first step to getting a house. Would we be able to open an ANZ.progress saver together?

    • finder Customer Care
      ShirleyJanuary 29, 2016Staff

      Hi Shelbey,

      Thanks for your question.

      Yes you can still open a ANZ progress saver together even if you’re not married.

      All the best,

  6. Default Gravatar
    ConJanuary 9, 2016

    Why is the progress saver have an introductory offer and not as a permanent offer for existing clients? The interests rates have gone down and down for the purpose to introduce new clients by. offering a promotional offer using the existing clients money to do so. We miss out on high interest for your introductory offer. ANZ should be at least competitive and offer the same as other banks especially the likes of ME Bank offering a much higher interest rate at an ongoing rate. If this sounds too forward perhaps I need to change.

    • finder Customer Care
      ShirleyJanuary 11, 2016Staff

      Hi Con,

      Thanks for your question. Since we’re a third party comparison website we can’t comment on ANZ’s behalf, though we do agree that all Aussies deserve a better deal.

      If you feel like you’re not getting the interest rate you deserve, then we’d recommend that you make the switch.

      All the best,

  7. Default Gravatar
    ShinNovember 23, 2015

    I have an access advantage account and a progress saver account and I can transfer money from my access account but not from my progress saver account on the ANZ app and internet banking. How can I transfer money from progress to access?

    • finder Customer Care
      ShirleyNovember 23, 2015Staff

      Hi Shin,

      Thanks for your question.

      You’ll need to speak to the ANZ customer service centre about connecting your Progress Saver onto your ANZ online banking account. After they’ve done this, you should be able to transfer from the ANZ progress saver.


  8. Default Gravatar
    EloiseAugust 28, 2015

    I can’t attach my progress saver so I can use it with online banking. How do I attach it to my account?

    • finder Customer Care
      ShirleyAugust 28, 2015Staff

      Hi Eloise,

      Thanks for your question.

      Please be mindful that you can’t connect your ANZ Progress Saver online, you’ll need to call up ANZ to get them to attach it manually through their system.


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