In this guide

  • Our verdict
  • Details
    • Key details
  • Key features
  • How to apply
  • Your reviews
  • Ask a question
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ANZ Progress Saver savings account

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ANZ Progress Saver

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Maximum variable rate
4.25% p.a.
Base interest rate
Minimum deposit

Our verdict

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

This account offers a small bonus rate of 4.25% 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.


  • $0 ongoing fees
  • Bonus interest rate up to 4.25% 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% if account conditions aren't met

In this guide

  • Our verdict
  • Details
    • Key details
  • Key features
  • How to apply
  • Your reviews
  • Ask a question

The ANZ Progress Saver account is designed to encourage good savings habits. It rewards you with a small bonus interest rate just for making a single monthly deposit of $10 or more, and no withdrawals. You can 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.


Key details

Product Name ANZ Progress Saver
Maximum Variable Rate 4.25% p.a.
Standard Variable Rate 0.01% p.a.
Monthly Account Fee $0
Minimum Opening Deposit $10
Minimum Age 12

Key features

Earn up to 4.25% p.a. when you deposit at least $10 per month and make no withdrawals

You receive a bonus interest rate of 4.24% 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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January 17, 2024

Hi there,

If I apply online and open a ANZ Progress Saver savings account am I able to access the funds (if needed) with a debit card provided from a ANZ bank, or is it all through online only ?

Thank you


Sarah Megginson Finder

March 25, 2024

Hi Jake, you would need to transfer the funds from your Progress Saver to your everyday savings account in order to access them using a debit card.



December 20, 2023

How do l transfer money from progress savings to savings account , they are both linked to same card


Sarah Megginson Finder

January 05, 2024

Hi Tanya, You could do this online or through phone banking. Each account will have a different account number (which is seperate/different to the card) so you can transfer between them. Hope this helps!



November 29, 2023

If I go to the bank in person can I withdraw money for personal emergencies? Is there a limit?


Jason Loewenthal Finder

January 05, 2024

Hi Allie,

Withdrawing from this account means you won’t earn interest for that month. There are fees associated with withdrawals as well, depending on how you make the withdrawal.

I hope that helps.


John McCarthy

August 31, 2023

I have a progress saver account. If I withdraw say 20% from that account I understand that I lose interest on the remaining 80% for the next month. If I don’t withdraw any further sums then does interest start again on the remaining 80% one month later?


Alison Banney Finder

September 08, 2023

Hi John, that’s correct, you will be eligible to earn interest on your balance again the following month.



July 18, 2023

Can I withdraw money from the atm card from progress saver


Alison Banney Finder

July 21, 2023

Hi, no you can’t. You’ll first need to transfer the money from your saver account to a linked ANZ transaction account with a debit card.

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