ANZ Online Saver Review (2026)
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.
Ongoing rate
1.35%
p.a. variable, no conditions
Conditions
None
no deposit or card rules
New customers
Intro
bonus may apply — check ANZ
About the ANZ Online Saver
The ANZ Online Saver is a no-frills online savings account from the big-four bank. There are no monthly conditions to track — you earn the ongoing variable rate of 1.35% p.a. on your whole balance. New customers are typically offered a higher introductory rate for an initial period, after which the account reverts to the ongoing rate. It’s separate from ANZ Plus, the bank’s app-only platform.
The appeal is simplicity and the ANZ brand. The drawback is the ongoing rate, which is well below the leading high-interest savers — so once any introductory period ends, your money works much harder elsewhere. ANZ is APRA-regulated, with deposits up to $250,000 protected by the Financial Claims Scheme.
Pros and cons
Pros
- ✓ No monthly conditions to meet
- ✓ Big-four bank, linked to ANZ everyday banking
- ✓ Possible introductory bonus for new customers
- ✓ Government deposit guarantee up to $250,000
Cons
- ✗ Ongoing rate (1.35%) is well below the market leaders
- ✗ Any introductory rate is temporary, then reverts
- ✗ A conditional bonus saver usually pays much more
How It Compares
- ANZ Online Saver: 1.35% — no conditions, but a low ongoing rate (reviewed here)
- ANZ Progress Saver: 3.74% — ANZ's bonus saver — higher rate if you save regularly
- Macquarie Savings Account: 5.35% — no conditions and a far stronger ongoing rate
- ubank Save Account: 5.85% — grow balance each month — much higher rate
- Rabobank High Interest Savings Account: 5.90% — top intro rate, no conditions for 4 months
Compare head-to-head
Related guides
FAQs
What is the ANZ Online Saver interest rate?
The ANZ Online Saver pays an ongoing variable rate of 1.35% p.a. with no monthly conditions. New customers may receive a higher introductory rate for an initial period — check ANZ for the current offer.
Does the ANZ Online Saver have any conditions?
No — the ongoing rate has no deposit, balance-growth or card-purchase conditions. The trade-off is that the ongoing rate is low; an introductory bonus (if you're a new customer) only applies for a limited time.
Is the ANZ Online Saver a good savings account?
It's simple and condition-free, but the 1.35% p.a. ongoing rate is well below the market's leading savers. After any introductory period ends, you'd earn far more elsewhere — it's worth comparing higher-rate accounts.
Information verified 18 June 2026. Rates variable and subject to change, and introductory offers are time-limited. Confirm current rates and conditions on ANZ’s website before applying. This is not financial advice.