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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.
$10
Minimum deposit
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Product Name | ANZ Progress Saver |
---|---|
Maximum Variable Rate | 0.5% p.a. |
Standard Variable Rate | 0.01% |
Monthly Account Fee | $0 |
Minimum Opening Deposit | $10 |
Minimum Age | 12 |
Review by
Alison Banney is the banking and investments editor at Finder. She has written about finance for over six years with her work featured on sites including Yahoo Finance, Money Magazine and Dynamic Business.
This account offers a bonus rate of 0.5% each month you deposit $10 and make no withdrawals. This deposit requirement is really low and easy to meet compared to other sayings accounts, however the bonus rate is far less competitive also.
The withdrawal restrictions are also quite strict, compared to other accounts which offer a much better rate and have no withdrawal restrictions. That being said, these withdrawal restrictions could be just what you need to help you keep the money in the account and stick to your savings goal.
This account could be suited to you if you’ve got your transaction account or business bank account with ANZ and like the idea of keeping all your day-to-day finances in the one place. You can link your savings account to your everyday account and easily keep across your money in the ANZ app. But if you’re simply looking for a great interest rate, there are many accounts with higher rates on offer.