ANZ adjusts online saver rates: What it means for savers

By Cameron Thomson · · 2 min read
Fact Checked
Advertiser disclosure

ANZ has announced changes to its Online Saver account rates. While the overall introductory rate remains unchanged, there are shifts in how this rate is structured that savers should be aware of.

The rate changes at a glance:

  • Base rate: Decreased by 0.10% to 1.40%
  • Bonus rate: Increased by 0.10% to 2.25%
  • Total introductory rate: Remains at 3.65% for the first 3 months

Impact on savers

While the bank has decreased the base interest rate by 10 basis points to 1.40% p.a., the reduction is offset by an increase to the bonus rate, up by 10 basis points to 2.25% p.a. 

For new savers and those still within their introductory period, the change will have no immediate impact as the total introductory rate remains steady at 3.65% p.a. for the first three months.

These small adjustments, both up and down, hint that banks such as ANZ are still operating in a wait and see mode for savings rates in 2024.

Shift towards ANZ Plus

While the changes to the Online Saver are modest, they appear to be part of a broader strategy. ANZ seems to be shifting focus towards promoting its ANZ Plus savings products rather than its traditional bank offerings.

For example, two new ANZ Plus products are set to launch on October 1, 2024:

  1. ANZ Plus Save:
    • Offers a bonus rate of 4.50% p.a.
    • Total maximum rate of 5.00% p.a.
    • Requires account holders to grow their balance by $100 a month
    • Base rate of 0.50% p.a. if conditions are not met.
  2. ANZ Plus Flex Saver:
    • Offers a 5.00% p.a. base rate
    • No minimum deposit amounts
    • Applies to the first $5,000 in the account.
    • Rate for accounts over $5,000 is 2.00% p.a.

These new offerings present significantly higher rates compared to the traditional Online Saver account, potentially incentivising customers to switch to ANZ's digital products.

Other savings accounts

While we’ve seen providers both big and small make adjustments to savings accounts, not all are offering the same rate. To check out some of the high interest savings accounts on offer, go to our savings hub page and compare providers.

Mozo may receive payment if you click products on our site. We don’t compare the entire market, but you can search our database of 255 savings accounts using the filters.
Last updated 5 December 2025 Important disclosures
  • Promoted

    Boss Saver

    Maximum rate
    4.65 % p.a.
    (for $0 to $100,001)
    Minimum $500 deposited into linked transaction account, and 5 Visa Card transactions from that account
    Standard rate
    0.20 % p.a.
    (for $0 and over)
    Go to site
    • Ongoing bonus interest when you meet conditions
    • No minimum balance, ongoing fees or withdrawal penalties
    • Manage your money easily on the BCU Bank app
  • Promoted

    AMP Bank GO Save

    Maximum rate
    4.25 % p.a.
    (for $0 to $250,001)
    Standard rate
    4.25 % p.a.
    (for $0 to $250,001)
    Go to site
    • No deposit or withdrawal conditions
    • No minimum balance or monthly account fees
    • All you need is an AMP Bank GO Everyday Account to open a Save account in the AMP Bank GO app.
  • Promoted

    Reward Saver Account

    Maximum rate
    4.50 % p.a.
    (for $0 to $1,000,000)
    Intro bonus rate of 4.50% for balances up to $1,000,000 for the first 4 months, reverting to 2.50%. Minimum deposit of $50 and no withdrawals.
    Standard rate
    0.00 % p.a.
    (for $0 and over)
    Go to site
    • Earn bonus rate by depositing $50 a month and making no withdrawals
    • Introductory rate for first 4 months
    • No monthly account fees

  • High Interest Savings Account

    Maximum rate
    5.00 % p.a.
    (for $0 to $250,001)
    Bonus rate for the first 4 months from account opening
    Standard rate
    3.45 % p.a.
    (for $0 to $250,001)
    Go to site
    • Easy set up, online and mobile banking app
    • No fees, no minimum balance, no minimum monthly deposit and no minimum term
    • Kick start your savings with the 4 month introductory variable rate

  • Reward Saver Kick Start Account - Up to 30 years old

    Maximum rate
    4.75 % p.a.
    (for $5,000 to $100,000)
    Minimum deposit of $20 and no withdrawals in the month.
    Standard rate
    0.00 % p.a.
    (for $0 and over)
    Go to site
    • Earn bonus rates by depositing $20 a month and making no withdrawals
    • Mozo Experts Choice Awards winner for Teen High Interest Savings in 2025
    • No monthly account fees

  • Boss Saver

    Maximum rate
    4.65 % p.a.
    (for $0 to $100,001)
    Minimum $500 deposited into linked transaction account, and 5 Visa Card transactions from that account
    Standard rate
    0.20 % p.a.
    (for $0 and over)
    Go to site
    • Ongoing bonus interest when you meet conditions
    • No minimum balance, ongoing fees or withdrawal penalties
    • Manage your money easily on the BCU Bank app

  • Savvy Saver Account

    Maximum rate
    4.65 % p.a.
    (for $0 to $100,001)
    Minimum $500 deposited into linked transaction account, and 5 Visa Card transactions from that account
    Standard rate
    0.20 % p.a.
    (for $0 and over)
    Go to site
    • No minimum balance required
    • Move money in and out and still earn interest
    • Transfer or make payments using the mobile app

  • Reward Saver Account

    Maximum rate
    4.50 % p.a.
    (for $0 to $1,000,000)
    Intro bonus rate of 4.50% for balances up to $1,000,000 for the first 4 months, reverting to 2.50%. Minimum deposit of $50 and no withdrawals.
    Standard rate
    0.00 % p.a.
    (for $0 and over)
    Go to site
    • Earn bonus rate by depositing $50 a month and making no withdrawals
    • Introductory rate for first 4 months
    • No monthly account fees

  • Smart Saver Account

    Maximum rate
    4.45 % p.a.
    (for $0 to $250,000)
    Minimum deposit of $100 and no withdrawals in the month
    Standard rate
    0.50 % p.a.
    (for $0 and over)
    Go to site
    • Earn bonus interest each month (T&Cs apply)
    • Open up to five accounts
    • No monthly fees or minimum balance

  • Power Saver

    Maximum rate
    4.35 % p.a.
    (for $0 to $250,000)
    Minimum of $100 deposited into account, and no withdrawals made.
    Standard rate
    0.50 % p.a.
    (for $0 and over)
    Go to site
    • Bonus interest for the first four months
    • No minimum balance, ongoing fees or withdrawal penalties
    • Manage your money easily on the BCU Bank app

  • AMP Bank GO Save

    Maximum rate
    4.25 % p.a.
    (for $0 to $250,001)
    Standard rate
    4.25 % p.a.
    (for $0 to $250,001)
    Go to site
    • No deposit or withdrawal conditions
    • No minimum balance or monthly account fees
    • All you need is an AMP Bank GO Everyday Account to open a Save account in the AMP Bank GO app.

  • Savings+Bonus

    Maximum rate
    4.25 % p.a.
    (for $1 to $250,000)
    Minimum $100 monthly deposit and no withdrawals to earn bonus interest each month.
    Standard rate
    1.75 % p.a.
    (for $1 to $250,000)
    Go to site
    • Enjoy bonus interest when you meet criteria
    • Access your money at any time via app
    • $250K maximum balance

  • Bonus Saver

    Maximum rate
    4.25 % p.a.
    (for $0 and over)
    Standard rate
    0.05 % p.a.
    (for $0 and over)
    Go to site
    • Bonus interest for the first four months
    • No minimum balance, ongoing fees or withdrawal penalties
    • Manage your money easily on the BCU Bank app

  • Hi Saver

    Maximum rate
    4.25 % p.a.
    (for $0 and over)
    Bonus rate for the first 4 months from account opening
    Standard rate
    0.05 % p.a.
    (for $0 and over)
    Go to site
    • Earn bonus interest for the first four months
    • No Minimum balance required
    • Transfer or make payments using the mobile app
Showing 11 results from 255 savings accounts. Use the filters to see more

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