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ANZ Progress Saver

The details shown below are for the Progress Saver

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

Choose the version of this loan that suits you best

  • Progress Saver

  • Progress Saver (Kids)

Interest rate
0.01% p.a.(for $0 and over)
Maximum rate
0.85% p.a. (for $0 and over)
Interest rate
0.01% p.a.(for $0 and over)
Maximum rate
0.85% p.a. (for $0 and over)

Mozo editorial review ANZ Progress Saver

Last updated: 11 June 2020.

binocular icon
What's hot
  • 0.85% 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 0.85% 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 0.85% 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 6 August 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: 0.85% 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 6 August 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: 0.85% 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 customer rating
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 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 14 days ago
  • Overall 10/10
    Bonus interest.

    Bonus interest for continued saving, great banking product.

    Read full review

    Bonus interest for continued saving, great banking product.

    Price
    10/10
    Features
    10/10
    Customer service
    10/10
    Convenience
    10/10
    Trust
    10/10
    Less
    Kerry, Victoria reviewed about 1 month ago
  • Overall 8/10
    Great customer service, ANZ goes above and beyond

    Great customer service and quick turnaround times for inquiries.

    Read full review

    Great customer service and quick turnaround times for inquiries.

    Price
    6/10
    Features
    6/10
    Customer service
    8/10
    Convenience
    8/10
    Trust
    8/10
    Less
    Alexandra, New South Wales reviewed about 1 month ago
  • Overall 7/10
    Great overall product, lacking in diversity.

    It is a very easy to open and simple online saving program. Hard to find big banks that has good rates like that, one downside is only lack of choice for investments.

    Read full review

    It is a very easy to open and simple online saving program. Hard to find big banks that has good rates like that, one downside is only lack of choice for investments.

    Price
    6/10
    Features
    6/10
    Customer service
    5/10
    Convenience
    8/10
    Trust
    9/10
    Less
    Derrick, Western Australia reviewed about 2 months ago
  • Overall 2/10
    Poor customer service.

    Once you sign up you never hear from them again, they never tell you there is a better product available or better interest rate available.

    Read full review

    Once you sign up you never hear from them again, they never tell you there is a better product available or better interest rate available.

    Price
    4/10
    Features
    0/10
    Customer service
    3/10
    Convenience
    5/10
    Trust
    1/10
    Less
    Garrie, New South Wales 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

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1.25% p.a. (for $0 to $5,000,000)

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

Yesup to $250,000

Promoted

Westpac

Westpac

Life (18-29 years old)

3.00% p.a. (for $0 to $30,000)

0.40% p.a.(for $0 and over)

Yesup to $250,000

Promoted

MyState Bank

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1.75% p.a. (for $0 to $250,000)

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

Yesup to $250,000

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Citi

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1.55% p.a. (for $0 to $500,000)

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

Yesup to $250,000

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Bankwest

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Hero Saver

1.25% p.a. (for $0 to $250,000)

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

Yesup to $250,000

Promoted

Bank of Queensland

Bank of Queensland

Fast Track Saver Account

1.65% p.a. (for $1 to $250,000)

0.20% p.a.(for $1 and over)

Yesup to $250,000

Promoted

HSBC

HSBC

Flexi Saver

1.25% p.a. (for $0 to $5,000,000)

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

Yesup to $250,000

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ME

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1.55% p.a. (for $0 to $250,000)

0.10% p.a.(for $0 and over)

Yesup to $250,000

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Smart Saver

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

2.00% p.a. (for $0 and over)