ANZ Online Saver vs ANZ Progress Saver
Rates and conditions verified 18 June 2026
Rates can change without notice. Last verified: 18 June 2026 (AEST). Please confirm details on the bank’s official page.
ANZ's two everyday savers, side by side. The Progress Saver pays a higher rate if you save regularly; the Online Saver is condition-free but lower. Both sit well below the leading savers — here's the trade-off, and the alternatives.
At a glance
| ANZ Progress Saver | ANZ Online Saver | |
|---|---|---|
| Maximum rate (p.a.) | 3.74% | 1.35% |
| Ongoing / base rate (p.a.) | 0.01% | 1.35% |
| Condition to earn it | Deposit $10+ and make no withdrawals in the month | None — ongoing variable rate (intro bonus may apply for new customers) |
ANZ Progress Saver
Condition: Deposit $10+ and make no withdrawals in the month
Best for: regular savers who won't touch the balance and want the higher of ANZ's two rates
- • Higher rate of the two — when you meet the condition
- • Any withdrawal forfeits the bonus that month
- • Still trails the leading high-interest savers
ANZ Online Saver
Condition: None — ongoing variable rate (intro bonus may apply for new customers)
Best for: people who want easy access with no conditions and don't mind a lower rate
- • No conditions; withdraw any time
- • New customers may get a temporary intro rate
- • Low ongoing rate once any intro period ends
The verdict
Within ANZ, the Progress Saver is the better earner if you can leave the balance alone — make one deposit, take nothing out, and you get the higher rate. The Online Saver suits money you need to dip into, since it has no conditions, but its ongoing rate is lower. The bigger picture, though, is that both sit well below the market: a leading bonus saver or a no-conditions account like Macquarie pays substantially more. If you're set on ANZ, pick by access needs; if rate is the priority, compare the leaders below.
FAQs
Which ANZ saver has the higher interest rate?
The Progress Saver, when you meet its monthly condition (deposit $10+ and no withdrawals). The Online Saver's ongoing rate is lower, though new customers may get a temporary introductory rate. The current figures are in the table above.
Can I withdraw from the ANZ Progress Saver?
You can, but any withdrawal in a month means you forfeit the bonus rate for that month and earn only the base rate. If you need regular access, the Online Saver (no conditions) is the better fit of the two — though both pay less than the leading savers.
Related guides
Information verified 18 June 2026. Rates are variable and subject to change. Confirm current rates and conditions on each provider's website before applying. This is not financial advice.