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
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
  • No withdrawal notice periods or interest rate penalties
  • Save up to 10% on eGift cards at over 50 retailers with Macquarie Marketplace

Savings Account (Amounts < $250k)

  • A high-interest online savings account with no monthly fees, easy withdrawals and award-winning digital banking
  • No withdrawal notice periods or interest rate penalties
  • Save up to 10% on eGift cards at over 50 retailers with Macquarie Marketplace
More details
000$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]More details
*Rate varies on savings amount
  • Deposit $500 per month to get bonus interest
  • 5.50% p.a. available on total savings up to $100k.
  • 5.00% p.a. applies to savings between $100k-250K.
  • Tiered bonus rates apply. (TMDs at ubank.com.au)
*Rate varies on savings amount

Save Account (<$100,000)

  • Deposit $500 per month to get bonus interest
  • 5.50% p.a. available on total savings up to $100k.
  • 5.00% p.a. applies to savings between $100k-250K.
  • Tiered bonus rates apply. (TMDs at ubank.com.au)
More details
010000$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 $1,000+ each month from an external source
  • Make 5 or more eligible transactions
  • Grow your savings balance each month
More details
40501$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]More details
  • Earn up to 5.25% p.a. interest on balances up to $1M. T&Cs apply.

Reward Saver (< $1M)

  • Earn up to 5.25% p.a. interest on balances up to $1M. T&Cs apply.
More details
05001$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]More details

Goal Saver

    More details
    0200$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]More details

    Bonus Saver Account (Amounts < $250k)

      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 July 27, 2024. View disclaimer.

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