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ANZ Progress Saver savings account

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

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.

0.85% p.a.

Maximum variable rate

0.01% p.a.

Base interest rate

0.84% p.a.

Bonus interest rate


Minimum deposit


Product NameANZ Progress Saver
Maximum Variable Rate0.85% p.a.
Standard Variable Rate0.01%
Bonus Variable Rate0.84%
Monthly Account Fee$0
Minimum Opening Deposit$10
Minimum Age12

Expert review

Alison Banney

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.

Expert review

This account offers a bonus rate of 0.85% 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.

Key features

Earn up to 0.85% p.a. when you deposit at least $10 per month and make no withdrawals

You receive a bonus interest rate of 0.84% 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.

How to apply

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.


  • 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.

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  1. Default Gravatar
    February 12, 2020

    I already have a Progressive Saver account with the ANZ.
    Am I able to open another Progressive Saver Account?


    • Default Gravatar
      February 12, 2020

      Hi Dianne,

      Thanks for your comment and I hope you are doing well. You may certainly open multiple Progress Saver Accounts if desired and you are also able to earn the same bonus interest and do the same process in the application.

      Just to reiterate: For Progress Saver, it is a great account for customers who wish to have strict savings plan/goals. With this account, you could earn up to 1.60% pa, providing that there is no withdrawal and a minimum deposit of $10 per month.

      For further restriction on this account, you can opt in to not have an Access Card, and restrict your internet banking access on this account so that you can’t transfer the funds out or withdraw using the card. If you need to withdraw, you will need to visit the branch.
      Base rate is 0.01% pa, and bonus rate is 1.59%pa.

      Hope this helps and feel free to reach out to us again for further assistance.


  2. Default Gravatar
    September 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.

    • Default Gravatar
      September 25, 2019

      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!


  3. Default Gravatar
    July 15, 2019

    How do I get a Statement I can print

    • Default Gravatar
      July 15, 2019

      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.


  4. Default Gravatar
    June 28, 2019

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

    • Default Gravatar
      June 29, 2019

      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.


  5. Default Gravatar
    June 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!

    • Default Gravatar
      June 15, 2019

      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!


  6. Default Gravatar
    June 9, 2019

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

    • Avatarfinder Customer Care
      June 9, 2019

      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.


  7. Default Gravatar
    May 28, 2019

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

    • Default Gravatar
      May 29, 2019

      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!


  8. Default Gravatar
    May 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 ?

    • Default Gravatar
      May 17, 2019

      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!


  9. Default Gravatar
    February 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
      February 26, 2019

      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!


  10. Default Gravatar
    November 3, 2017

    Can a SMSF use an ANZ Progress Saver Account?

    • Default Gravatar
      November 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.


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