The details shown below are for the Progress Saver

The details shown below are for the Progress Saver (Kids)

Choose the version of this product that suits you best

  • Progress Saver

  • Progress Saver (Kids)

Interest rate
0.01% p.a.(for $0 and over)
Maximum rate
0.50% p.a. (for $0 and over)
Govt deposit guarantee
Yes up to $250,000
Interest rate
0.01% p.a.(for $0 and over)
Maximum rate
0.50% p.a. (for $0 and over)
Govt deposit guarantee
Yes up to $250,000

Mozo editorial review ANZ Progress Saver

Last updated: 19 November 2020.

binocular icon
What's hot
  • 0.50% ongoing bonus rate (with minimal conditions)
  • No monthly account fee
What's not
  • only 1 free ANZ transaction per month
  • 0.01% p.a standard interest rate
Mozo snapshot

The ANZ Progress Saver is an account for the committed saver. It has a 0.50% ongoing bonus rate as long as you make at least a $10 deposit per month and no withdrawals.

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Key features

The ANZ Progress Saver has no account fees and free unlimited transactions over the internet but the Progress Saver only comes with 1 free ANZ transaction per month (EFTPOS, phone, or branch) so do most of your banking online.

The 0.50% special ongoing bonus is all yours as long as you make a minimum monthly deposit of $10 and make no withdrawals in that month.

snapshot
Who is it good for

This savings account is good for anyone wanting a high interest savings account with some restrictions so that they are less tempted to touch their savings pot. The savings account can be opened for children of all ages but if they're under 12 the account has to be opened in the name of the adult.

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Any catches

This is really a savings account for people who want to do their banking online. If you want to do your banking over the phone, via the ATM or in branch With the Progress Saver you only get 1 free transaction. After which you'll have to pay $1 ($2.50 over the counter) per transaction.

Details

Rates and fees information correct as at 5 December 2020. 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: 0.01% p.a.

  • Balances from $0: 0.50% p.a.

  • Bonus interest when you make a single deposit of $10 or more in a month and no withdrawals

Fees
  • $0.00

  • n/a

  • 1 free transaction per month from phone, branch withdrawal; unlimited free transactions from internet.

  • n/a

  • n/a

  • n/a

  • $0.00

  • $2.50

  • n/a

  • $1.00

  • $0.00

  • n/a

Other financial bits
  • $10.00

  • $10.00

  • Monthly

Features
  • no

  • none

  • no

  • no

  • no

  • yes

  • no

  • yes

  • yes

  • no

  • no

  • none

  • none

  • none

Details

Rates and fees information correct as at 5 December 2020. 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: 0.01% p.a.

  • Balances from $0: 0.50% p.a.

  • Bonus interest when you make a single deposit of $10 or more in a month and no withdrawals

Fees
  • $0.00

  • n/a

  • If you are under 18, you wont pay additional ANZ Transaction fees for certain additional ANZ Transactions including Staff Assisted Transactions and Electronic Transactions (for eligible customers). A withdrawal will prevent you from qualifying for bonus interest in that month.

  • n/a

  • n/a

  • n/a

  • $0.00

  • $0.00

  • n/a

  • $0.00

  • $0.00

  • n/a

Other financial bits
  • $10.00

  • $10.00

  • Monthly

Features
  • no

  • none

  • no

  • no

  • no

  • yes

  • no

  • yes

  • yes

  • no

  • no

  • none

  • none

  • Under 18

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 Progress Saver

  • Overall 7/10
    Excellent service

    Love my bank. They are incredibly helpful on the phone, answer calls quickly and can often fix problems very easily.

    Read full review

    Love my bank. They are incredibly helpful on the phone, answer calls quickly and can often fix problems very easily.

    Price
    8/10
    Features
    8/10
    Customer service
    10/10
    Convenience
    6/10
    Trust
    10/10
    Less
    Grace, Queensland reviewed about 1 month ago
  • Overall 10/10
    ANZ bank is the way to go.

    I love ANZ bank, I switched to them after leaving another big name bank and I have found ANZ to be reliable, trustworthy, easy to access products and good interest rates. Thank you!!

    Read full review

    I love ANZ bank, I switched to them after leaving another big name bank and I have found ANZ to be reliable, trustworthy, easy to access products and good interest rates. Thank you!!

    Price
    7/10
    Features
    7/10
    Customer service
    8/10
    Convenience
    9/10
    Trust
    10/10
    Less
    Amber, New South Wales reviewed 2 months ago
  • Overall 8/10
    Easy reliable bank.

    ANZ has always been supportive and helpful. Easy access to online and phone banking and for me it's convenient as I am close to a few outlets if I need to go into a branch.

    Read full review

    ANZ has always been supportive and helpful. Easy access to online and phone banking and for me it's convenient as I am close to a few outlets if I need to go into a branch.

    Price
    9/10
    Features
    6/10
    Customer service
    10/10
    Convenience
    9/10
    Trust
    10/10
    Less
    Craig, New South Wales reviewed 3 months ago
  • Overall 8/10
    Good.

    Very good choice of bank. Great rates.

    Read full review

    Very good choice of bank. Great rates.

    Price
    7/10
    Features
    7/10
    Customer service
    7/10
    Convenience
    6/10
    Trust
    8/10
    Less
    Luke, Queensland reviewed 4 months ago
  • Overall 1/10
    They have no idea what customer service is.

    ANZ have changed not only interest rates, but conditions without informing. They misplaced my new card and then the replacement one as well. They closed my local branch without advising. Always quite a wait to see someone at my closest branch, and the person does not always seem to know what they are doing.

    Read full review

    ANZ have changed not only interest rates, but conditions without informing. They misplaced my new card and then the replacement one as well. They closed my local branch without advising. Always quite a wait to see someone at my closest branch, and the person does not always seem to know what they are doing.

    Price
    5/10
    Features
    5/10
    Customer service
    1/10
    Convenience
    1/10
    Trust
    1/10
    Less
    Kathryne, Queensland reviewed 4 months ago
ANZ

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

MyState Bank

MyState Bank

Bonus Saver Account

1.35% p.a. (for $0 to $250,000)

0.15% p.a.(for $0 and over)

Yes up to $250,000

Heritage Bank

Heritage Bank

Online Saver

1.30% p.a. (for $1 to $100,000)

0.65% p.a.(for $1 and over)

Yes up to $250,000

Bankwest

Bankwest

Hero Saver

0.90% p.a. (for $0 to $250,001)

0.01% p.a.(for $0 to $5,000,000)

Yes up to $250,000

Bank of Queensland

Bank of Queensland

Fast Track Saver Account

1.05% p.a. (for $1 to $250,000)

0.05% p.a.(for $1 and over)

Yes up to $250,000

Up

Up

Saver Account

1.10% p.a. (for $0 to $1,000,000)

0% p.a.(for $0 and over)

Yes up to $250,000

Citi

Citi

Online Saver

1.10% p.a. (for $0 to $500,000)

0.35% p.a.(for $0 and over)

Yes up to $250,000

MyState Bank

MyState Bank

Bonus Saver Account

1.35% p.a. (for $0 to $250,000)

0.15% p.a.(for $0 and over)

Yes up to $250,000

Heritage Bank

Heritage Bank

Online Saver

1.30% p.a. (for $1 to $100,000)

0.65% p.a.(for $1 and over)

Yes up to $250,000

Bankwest

Bankwest

Hero Saver

0.90% p.a. (for $0 to $250,001)

0.01% p.a.(for $0 to $5,000,000)

Yes up to $250,000

Bank of Queensland

Bank of Queensland

Fast Track Starter Account

3.00% p.a. (for $1 to $10,000)

0.05% p.a.(for $1 and over)

Yes up to $250,000

Bank of Queensland

Bank of Queensland

Fast Track Saver Account

1.05% p.a. (for $1 to $250,000)

0.05% p.a.(for $1 and over)

Yes up to $250,000

Up

Up

Saver Account

1.10% p.a. (for $0 to $1,000,000)

0% p.a.(for $0 and over)

Yes up to $250,000

Citi

Citi

Online Saver

1.10% p.a. (for $0 to $500,000)

0.35% p.a.(for $0 and over)

Yes up to $250,000

Up

Up

Saver Account

0% p.a.(for $0 and over)

1.10% p.a. (for $0 to $1,000,000)

Yes up to $250,000

Newcastle Permanent

Newcastle Permanent

Smart Saver

0% p.a.(for $0 and over)

1.55% p.a. (for $0 and over)

Yes up to $250,000