The increase comes following the major bank lifting its ANZ Save account rate for ANZ Plus customers by 50 basis points post-RBA's August decision.

Previously, ANZ Save customers were eligible to receive a rate of 2.50% p.a. on balances up to $250,000.

Now sitting at 2.70% p.a, ANZ Save boasts one of the most competitive savings account offerings from a major bank based on Savings.com.au's market research. 

While this may not top the likes of Bank of Queensland's 3.50% p.a. 'Future Saver' account for millennial savers or ING's 3.10% p.a. 'Savings Maximiser' offering, ANZ Save requires no monthly deposit, minimum transaction or age restrictions to be met to achieve the rate.

This 'unconditional' product is similar to Macquarie Bank's 2.25% p.a. transaction account. 

ANZ Save customers receive the 2.70% p.a. rate on balances up to $250,000, with balances over this amount receiving a sole rate of 0.05% p.a. 

ANZ states interest is calculated based on the effective daily balance of your ANZ Save account, paid monthly.

It's important to note ANZ Plus is a digital product offered through both iOS and Android applications which differs to traditional ANZ saving account offerings. 

For ANZ Plus customers, in-app features include:

  • BPAY - Pay bills using BPAY.
  • PayID - ANZ Plus customers can send payments to a PayID such as a mobile number, email address or ABN.
  • Add digital card to Apple Wallet immediately - Customers can instantly set up digital card when joining ANZ Plus. 
  • Dynamic CVV - Provides a digital alternative to the static three-digit number on the back of the ANZ Plus card.
  • Query a transaction - ANZ Plus customers can dispute all available transaction types via the self-service option.
  • Age to join reduced to 15 years - ANZ Plus customers can begin learning how to manage their money and save earlier.
  • Card-less cash - ANZ Plus customers can securely withdraw cash from an ATM without their card.

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Need somewhere to store cash and earn interest? The table below features savings accounts with some of the highest interest rates on the market.

Rates
Features
Conditions
Other
Provider
4000$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]More details
  • Bonus rate for the first 4 months from account opening
  • No account keeping fees
  • No minimum balance

High Interest Savings Account (< $250k)

  • Bonus rate for the first 4 months from account opening
  • No account keeping fees
  • No minimum balance
More details
010000$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]More details
  • Deposit at least $1,000 + each month from an external source
  • Make 5 or more eligible transactions
  • Grow your savings balance each month

Savings Maximiser (<$100k)

  • Deposit at least $1,000 + each month from an external source
  • Make 5 or more eligible transactions
  • Grow your savings balance each month
More details
010000$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]More details
  • No account fees
  • Total ongoing variable rate of up to 5.20% pa by depositing $1,000 in the previous month
  • Easy access to your money

Saver Account (<$250k)

  • No account fees
  • Total ongoing variable rate of up to 5.20% pa by depositing $1,000 in the previous month
  • Easy access to your money
More details
4000$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]More details
  • A high-interest online savings account with no monthly fees, easy withdrawals and award-winning digital banking
  • A great base interest rate of 4.75%

Savings Account (Amounts < $250k)

  • A high-interest online savings account with no monthly fees, easy withdrawals and award-winning digital banking
  • A great base interest rate of 4.75%
More details
05001$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]More details
  • Maximum Age - 24
  • $0 monthly account fee
  • Earn bonus interest

Goal Saver

  • Maximum Age - 24
  • $0 monthly account fee
  • Earn bonus interest
More details
02000$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]More details
No monthly fees
  • Download the App to open your account
  • Get better visibility of your spending within App!
  • Deposit $200 per month to activate bonus interest
No monthly fees

Save Account

  • Download the App to open your account
  • Get better visibility of your spending within App!
  • Deposit $200 per month to activate bonus interest
More details
0200$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]More details
  • No fees or penalties for withdrawing money
  • Savings guaranteed up to $250,000
  • Maximise your savings and reach your goals faster with Auto-Savings

Bonus Saver Account (Amounts < $250k)

  • No fees or penalties for withdrawing money
  • Savings guaranteed up to $250,000
  • Maximise your savings and reach your goals faster with Auto-Savings
More details
010000$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]More details
For customers aged 14-35 years
For customers aged 14-35 years

Future Saver Account ( < $50k)

    More details
    010000$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]More details

    Boost Saver

      More details
      Important Information and Comparison Rate Warning

      All products with a link to a product provider’s website have a commercial marketing relationship between us and these providers. These products may appear prominently and first within the search tables regardless of their attributes and may include products marked as promoted, featured or sponsored. The link to a product provider’s website will allow you to get more information or apply for the product. By de-selecting “Show online partners only” additional non-commercialised products may be displayed and re-sorted at the top of the table. For more information on how we’ve selected these “Sponsored”, “Featured” and “Promoted” products, the products we compare, how we make money, and other important information about our service, please click here. Rates correct as of December 8, 2023. View disclaimer.

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