Your selected savings accounts
ANZ Plus is an online-exclusive offering from ANZ. It launched in 2022 with everyday and savings accounts accessible only through its new ANZ Plus mobile app.
ANZ Plus doesn’t have a bank network as an online bank, but it has coaches available through the app. A coach usually replies Monday to Friday, 9am to 5pm AEST. Best of all, it’s super easy to get started online.
High total interest rate of 5.00% p.a.
No monthly account service fees
Multiple savings goals feature
Round-up feature for faster saving
Requires linking to an ANZ Plus everyday account
Bonus interest rate has a monthly growth requirement
ANZ Save, part of the ANZ Plus, comes with a 5.00% p.a. total conditional rate. This rate is split between a base rate of 0.50% p.a. and a bonus rate of 4.50% p.a., which is earned when you grow your balance by $100 or more each month (excluding interest earned).
The account's structure encourages regular saving, which can work well for those looking to build a savings habit. The multi-goal savings feature allows for better organization of your savings, whether you're saving for a holiday, a new car, or an emergency fund.
One of the standout features is the round-up function, which automatically saves the spare change from your everyday transactions. This can help boost your savings without much extra effort and reach the conditions for the most interest.
It's worth noting that to access ANZ Save, you need to open an ANZ Plus everyday transaction account as well. While this provides a seamless banking experience, it may not suit those who prefer to keep their savings with a different institution from their everyday banking.
Your selected savings accounts
It is really easy to use, the app is very simple & I can navigate it easily!
I love the ANZ plus App but am very disappointed they have now changed their conditions which is not what I signed up for. This has caused me to move my money elsewhere as I have lost trust:
ANZ Plus is a horrible experience. For the past few months I had over 200K in the what they call Savings Jar as interest is only paid into that , and the monthly interest was paid. Just last month (October 2024) they made changes that only 0.5& interest is paid unless you make at least a $100 deposit. I was not aware of this until I checked the interest paid was only 0.5 % instead of 5.0% , even though my 200K was in the account untouched all along. Basically I was Robbed of around $800 ! No grace period for customers to understand these changes and communicating with them is useless. Beware of ANZ Plus, they are basically Crooks. !
Staff are very helpful and friendly and they attend to customers quickly and efficiently. My savings interest rate on the PLUS account is very good in comparison to others
ANZ Plus Account Review I have been using the ANZ Plus account, which is an online-only account, and I have to say, it has been a great experience. One of the features I love the most is the ability to create different pots in the app to help with saving. This makes it super easy to manage my finances and set aside money for different goals. Another fantastic aspect is the instant access to my money. There are no wait times, which means I can access my funds whenever I need them without any delays. The app itself is very user-friendly and straightforward, making it a breeze to navigate and use. Additionally, transferring money to another ANZ account is instantaneous. This is incredibly convenient and saves me a lot of time. Moreover, the interest rate on the ANZ Plus account is high, which is great for growing my savings. The only inconvenience I have come across is not being able to access the account in a physical bank, however for my needs this account is perfect.
While ANZ Plus has many appealing features. Along with its highly competitive interest rate, another plus is that there is no minimum monthly deposit required in order to achieve interest. You can also make withdrawals without forfeiting interest, there is one aspect I really don't respect is that their condition on paying interest, which states: "We pay interest into your ANZ Save Account on the last Business Day of each month. It will generally include interest up to (but excluding) that day". This is outrageous. I have never experienced another bank which does it this way and only discovered it when I noticed that my interest for the month of March was much lower than expected. This was a result of Easter falling at the end of March, so I effectively lost 3 full days of interest. After checking the calendar I've discovered that my interest would be affected in this way in June, August and November 2024. Consequently, I am moving my money to a bank with very similar rates who pay interest on the full month. I feel there is no reason for this "feature". It is not commonplace practice and certainly not a good way to do business, particularly in terms of gaining trust. Although it is outlined in the terms, I feel that most people wouldn't even be aware of this.
Review of ANZ Plus Account I opened an ANZ Plus account and wanted to share my thoughts on it. Pros: One thing I really like about the ANZ Plus account is the extra features it offers. It’s not just your run-of-the-mill account – it comes with perks like higher interest rates, fee waivers, and top-notch customer support. These extras definitely add value and make banking more convenient. Another great thing about the ANZ Plus account is the access to exclusive banking products and services. From discounts on loans to insurance and wealth management products, there are plenty of benefits that can help you save money and reach your financial goals faster. Cons: One downside to consider is that some ANZ Plus accounts have eligibility requirements. This could be a minimum balance or a monthly deposit threshold, which might not suit everyone. If you’re looking for a simpler banking solution, this could be a drawback. Another thing to watch out for is the fees and charges. While some services have fee waivers, there are still potential costs for certain transactions or maintaining the account. It’s important to check the fee schedule carefully to understand what you might be charged. Overall, ANZ Plus account has a lot to offer for customers. But it’s worth considering your own financial needs and preferences before signing up, to make sure it’s the right fit for you.
Yeah same as above plus
A fabulous product that helps you budget and save at the same time!
Great interest rates and user friendly app
Yes, ANZ is an Authorised Deposit-taking Institution (ADI) regulated by the Australian Prudential Regulation Authority (APRA). Deposits up to $250,000 are protected under the Australian Government's Financial Claims Scheme.
ANZ Save currently has no monthly account service fees.
You can open an ANZ Save account as a new customer, but you'll need to also open an ANZ Plus everyday transaction account to gain access. Both can be set up through the ANZ Plus app.
^See information about the Mozo Experts Choice Savings Account Awards
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