Interest rate
0.05% p.a.(for $0 and over)
Maximum rate
0.30% p.a. (for $0 and over)
Govt deposit guarantee
Yes up to $250,000

Mozo editorial review ANZ Online Saver

Last updated: 4 June 2021.

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What's hot
  • 0.30% introductory bonus rate
  • No account fees
  • Bpay functionality
What's not
  • No branch access
Mozo snapshot

The ANZ Online Saver has an introductory savings rate of 0.30% and fee friendly features like no account fees and minimum balance requirements. It also comes with BPay functionality so you can pay bills directly from the account.

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Key features

Stash your cash and reap in the rewards! The 0.30% bonus rate is available for the first three months for new accounts. After the bonus rate period, the interest rate drops to 0.05%. Interest is calculated daily and paid into your account on a monthly basis.

You'll have to do all your transactions through phone or internet banking with the ANZ Online Saver as there is no ATM card or branch access. But the upshot to this is you'll never be slugged with transaction and account fees. Unlike many other online savings accounts where you have to transfer funds to a linked account to pay bills, the ANZ Online Saver features Bpay functionality so you can do all your banking direct from the account.

You can even open multiple ANZ Online Saver accounts under one name if you're keen to save for a number of goals. Since no minimum deposit amount is required, this means that you can whip out your wish list and tick each one off as the interest earnings come in.

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Who is it good for

If you're looking for a high interest savings account that lets you save for multiple goals, your cash will find itself right at home with the ANZ Online Saver.

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Any catches

The 0.35% introductory interest rate is only offered to new ANZ customers. You'll also need to open an everyday ANZ bank account in order to access the funds in your ANZ Online Saver account.

Details

Rates and fees information correct as at 23 June 2021. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates
  • Balances from $0: 0.05% p.a.

  • Balances from $0: 0.30% p.a.

  • Bonus rate for the first 3 months from account opening. The bonus rate offer is only available to new ANZ Online Saver customers who have not held an ANZ Online Saver account during the last 6 months, and apply online. Offer not available to beneficiaries for an ANZ Online Saver account held on trust within the past 6 months

Fees
  • $0.00

  • n/a

  • unlimited free transactions from phone and internet

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • $0.00

  • $0.00

  • n/a

Other financial bits
  • $0.00

  • $0.00

  • Monthly

Features
  • no

  • none

  • no

  • no

  • no

  • no

  • no

  • yes

  • yes

  • yes

  • no

  • Must be linked to ANZ deposit account.

  • none

  • none

Customer Reviews

How are ANZ savings accounts rated by the Mozo community?

Overall
7.4/10
Price
6.6/10
Features
6.2/10
Customer service
7.4/10
Convenience
7.9/10
Trust
7.5/10

Latest reviews of ANZ Online Saver

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About ANZ

ANZ is one of the largest companies in Australia and New Zealand, with a history that stretches back over 170 years. The bank offers a range of banking and financial products to more than 5.7 million retail customers, including home loans, credit cards and debit cards, personal loans, savings and banking accounts and personal insurance. And now, with its new mobile banking application, ANZ App, it's easier to do banking on the go.

See ANZ savings accounts