Money Choices

The ANZ Online Saver Account is a great option for savers looking for high interest rates (4.50% p.a.), flexibility and a low-cost account. It is also useful for first-time savers and people on a low income.

Is This the Account For Me?

People with very strict savings project might benefit from a savings account with more incentives to save regularly, but if you are looking to save as and when you can, and still get a great interest rate, this account could be great for you. It is suitable for first-time savers, students, younger people, or anyone who needs to put a little money buy without huge pressure to make the same saving every month and leave their money untouched.

The Advantages of This Account

The 4.50% p.a. interest rate on an ANZ Online Saver Account is competitive, meaning that every dollar you save works harder for you in the bank. This is, as with most savings account, the main incentive to use the product. Aside from this, there is no minimum balance, no withdrawal fee, and no fixed term requirements; everything about the account is very casual. So, if you’re a first-time saver who is intimidated by scary savings plans, this is a great place to start putting money away, with no penalties to face if you need to access your cash earlier than you had planned.

Another great feature of the account is that there is no monthly account service fee, so your savings will not be eaten up in this way.

ANZ have added a nice touch to this account by allowing multiple Online Saver accounts to be opened in one person’s name, meaning that if you have several projects to save for but want to keep everything clear and simple, you can do so without having to find a different bank for each one.

Aside from these benefits, the ANZ Online Saver gives the customer good access to their cash via a linked ANZ current account, from which you can take money via internet banking, phone banking and BPAY, leaving you with a variety of options for transactions.

Eligibility

To be eligible for an ANZ Online Saver Account, you must be aged 16 years or over, be an Australian resident and able to complete the ANZ Customer Identification Process on application, or be an existing ANZ customer.

How Do I Open an ANZ Online Saver Account?

To open an ANZ Online Saver Account, you must first have an ANZ current account to link to the saver account.

You can set up both accounts by visiting your nearest branch and speaking to an advisor, or calling ANZ on the phone and discussing your options. Alternatively, you can use the online application form on the ANZ website, which is secure, simple and takes only a few minutes to complete.

Summary

The ANZ Online Saver Account is a very relaxed savings account with no hidden fees and a great interest rate to help you get started on your savings project.