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 1.60% 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
1.60% p.a.
Standard Variable Rate
0.01% p.a.
Bonus Variable Rate
1.59% p.a.
Introductory / Bonus Offer Conditions
The ANZ Progress Saver account pays a bonus interest rate of 1.59% 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 1.60% p.a. when you deposit at least $10 per month and make no withdrawals

You receive a bonus interest rate of 1.59% 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 1.60% 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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32 Responses

  1. Default Gravatar
    CathySeptember 24, 2019

    My husband and I have a progress saver for my son who turns 18 in a couple of weeks. We are wanting to use some of the money in his progress saver before he turns 18 to buy him a car. What are the processes for withdrawing from this account? We only have paper based statements, there is no card associated with this account.

    • Avatarfinder Customer Care
      NikkiSeptember 25, 2019Staff

      Hi Cathy,

      Thanks for getting in touch! If you have a Progress Saver without a card attached and would like to make a withdrawal, it is possible to do so at any ANZ Branch or if the account is linked to Internet Banking, transferring the funds out. Generally, you’ll just need to bring in a photo ID so ANZ can verify that it is your account.

      Hope this helps and happy birthday to your son!


  2. Default Gravatar
    JanJuly 15, 2019

    How do I get a Statement I can print

    • Avatarfinder Customer Care
      NikkiJuly 15, 2019Staff

      Hi Jan,

      Thanks for getting in touch! To get your statement of account you can register your ANZ account to ANZ’s Internet Banking. Once registered, you’ll be able to manage your eligible accounts from their online statement feature. You can also search and download two years’ worth of transaction history. View your statements from a PC or laptop to print it easily.

      Hope this helps! For any further questions, feel free to reach out to us again, we’re here to help.


  3. Default Gravatar
    AnnoyedJune 28, 2019

    When did ANZ reduce the rate from 2.4%? How much notification was provided?

    • Avatarfinder Customer Care
      NikkiJune 29, 2019Staff

      Hi Caty,

      Thanks for your inquiry.

      When checked in the terms and conditions of this account – as it is an account with variable rates, bonus and base rates are variable and subject to change. The rates changed last June 26th 2019. You can see the change on the website directly or notice will be sent usually in the statement’s inserts.

      Hope this helps! For any further questions, feel free to reach out to us again, we’re here to help.


  4. Default Gravatar
    MonicaJune 13, 2019

    Will I be charged for multiple deposits for my ANZ progress saver account? I would like to deposit $50 every week. I would do the deposits though online banking as that is unlimited and free (no charge) but I’m worried about the “single deposit of $10 or more”. Does that mean only a single deposit is allowed for that month or just the minimum amount and minimum deposit for the month? Sorry I know it seems silly to ask but I’m quite worried. Thank you in advance!

    • Avatarfinder Customer Care
      NikkiJune 15, 2019Staff

      Hi Monica,

      Thanks for getting in touch!

      It’s great to hear that you want to deposit $50 every week as the minimum deposit per month is $10 and you can deposit more money as you’d need. You won’t be charged for multiple deposits on your ANZ Progress Saver Account.

      Hope this helps!


  5. Default Gravatar
    ChelseaJune 9, 2019

    Do I have to go to the bank to withdraw money from my ANZ Progress Saver account ?

    • Avatarfinder Customer Care
      JhezJune 9, 2019Staff

      Hello Chelsea,

      Thank you for your comment.

      Yes, you can go to the branch to withdraw from your ANZ Progress Saver account. You can also do online banking by transferring to a linked transaction account and withdraw from your linked transaction account.


  6. Default Gravatar
    AlvinMay 28, 2019

    Can i make online transactions like a regular debit card with this progress saver card?

    • Avatarfinder Customer Care
      NikkiMay 29, 2019Staff

      Hi Alvin,

      Thanks for getting in touch! The ANZ Progress Saver is not capable of online transaction much like how a debit card is used. This savings account is for the purpose of growing your money. As it says on the page, you will 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.

      Hope this clarifies!


  7. Default Gravatar
    BillMay 16, 2019

    Closing my Progress Saver Acc or withdrawing most of my money in my Progress Saver Acc. For example, if my Account has gone on for 11 months without any transaction and the $10 has been added and I close the account on the 12th month, do I lose any of my interest ?

    • Avatarfinder Customer Care
      NikkiMay 17, 2019Staff

      Hi Bill,

      Thanks for getting in touch with Finder!

      Interest is calculated and added on to your account every monthly anniversary of account opening. If you decide to close the account, it would be reasonable to proceed after the interest has been applied.

      Hope this clarifies!


  8. Default Gravatar
    ErrolFebruary 23, 2019

    As pensioners, we have a joint pensioner advantage account. Should we have been issued with a card each? If not, can we obtain a second card?

    • Avatarfinder Customer Care
      JoshuaFebruary 26, 2019Staff

      Hi Errol,

      Thanks for getting in touch with Finder. I hope all is well with you. :)

      Upon checking, I couldn’t find a specific answer to your question. However, generally, you can request an additional card for your account. You simply need to let the bank know about your needs. For this reason, it would be best to get in touch with ANZ to confirm.

      I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.

      Have a wonderful day!


  9. 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.


  10. Default Gravatar
    CharlesNovember 4, 2016

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

    • Avatarfinder 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.


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