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ANZ Progress Saver 1.95% p.a (Minimum $10 Deposit + No Withdrawal in a Month)

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ANZ Progress Saver 1.95% p.a (Minimum $10 Deposit + No Withdrawal in a Month)
Go to Deal
djprima on 14/08/2019 - 10:56 anz.com.au (159 clicks)
Last edited 14/08/2019 - 17:22 by 1 other user

This is not the best deal for HISA, but might be useful for those already with ANZ and don't want to have trouble dealing with multiple banks.

Eligibility for 1.95% p.a interest:
- Deposit at least $10 a month
- Not having any withdrawal

Otherwise 0.01% p.a.

To be noted that you'll get 1 free transaction per month, and $1 afterwards for each electronic transaction. I thought this also applied if we deposit money, but the small print at the bottom page says that Internet Banking transactions are free.

FYI this is different than the regular ANZ online saver that gives you 0.15% p.a. after 3 months

Enjoy

Financial ANZ Bank Account Savings Account

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closed Comments

  • Slo20 on 14/08/2019 - 11:28
    +22

    I’m sorry but this is not a bargain. Doesn’t make top 20 and that doesn’t include ones that have intro bonuses.

      • Slo20 on 14/08/2019 - 11:34
        +5

        Greater bank (#4) gives more for less deposit. I’m not trying to sh!t on your deal but if we posted every rate for people too lazy to switch then we’d say home loans for 4% as deals.

        • djprima on 14/08/2019 - 11:48
          -3

          Totally understand your point of view, hence my first disclaimer in the post. Not everyone wants to open and manage a new account with other bank (more passwords), and a lot of people are already with ANZ.

    • check on 14/08/2019 - 11:34

      @Slo20 Useful, thanks!
      Yours?

      • Slo20 on 14/08/2019 - 11:38
        +2

        No, spreadsheet isn’t mine but it’s a great resource and often updated.

    • obavatar on 15/08/2019 - 09:01
      +1

      Just when I thought 2% HISA was decent. Thanks Slo20! Awesome spreadsheet! Ozbargain is awesome!

  • mr_asstight on 14/08/2019 - 11:29
    +2

    so we're in negative interest rates already it seems.

  • His_Holiness on 14/08/2019 - 11:42
    +5

    No deal. Waste of space

  • [Deactivated] on 14/08/2019 - 11:46
    -2

    Dumb ass deal. NOT slightly a bargain. Can't downvote as your account is so often removed by Scotty's (the Christian) unbalanced rules, so might as well upvote in protest, like everyone else.

  • blablabla23 on 14/08/2019 - 12:38
    +2

    this is an astoundingly bad deal. If everything was posted for convenience, we'd be seeing posts for $6 bottles of water "if you stayed at Hilton and would rather not walk to Woolies".

    • djprima on 14/08/2019 - 13:46
      +1

      Why is that wrong? I don't think we should discourage 'bad' deals from being posted, we have the voting system to take care of that

  • [Deactivated] on 14/08/2019 - 12:49
    +3

    Bargain not found.

  • jrt2020 on 14/08/2019 - 12:56

    Anyone has a real good reason to deposit in any bank to get just 1% interest ?

    • obavatar on 15/08/2019 - 09:11

      Everyone should have a bit of cash to hand at all times. So you might as well have it in a HISA earning something. The difference seen between average accounts at 0.7-1% to 2.55% seen here on Ozbargain equates to $500 pa for me so it's well worth it. But the obvious variables are how much you feel you need in cash to hand and how much you value your time.

  • kipps on 14/08/2019 - 13:24
    +2

    Why are these deals even being posted? Not a bargain. Stop promoting ANZ’s terrible product.

    • djprima on 14/08/2019 - 13:47

      Because it benefits me, and I want to share with others

  • stevelo on 14/08/2019 - 13:52

    2.1% from Westpac Life for someone might want a little bit higher interest rates with pretty similar accounts

    • djprima on 14/08/2019 - 15:04

      Thanks. Yes, that's a better deal. Unfortunately I'm not with Westpac

  • lostn on 14/08/2019 - 15:51

    Westpac Life is better.

    Does not have the no withdrawal requirement. To get the full 2.10% you only need to grow your balance. Even by $1 is enough.

    If you don't grow it, or it shrinks, you still get something like 0.95%.

    Progress Saver is the same as Reward Saver which has been replaced with Life.

  • Oofy Doofy on 14/08/2019 - 23:31

    Poor effort all considered when there are better deals on the market. ANZ are losing customers with their affirmative action female hiring 'quotas' for the company too. On that note, happy to put my money elsewhere.

  • AussieZed on 15/08/2019 - 16:27

    How can they afford to offer such a high interest rate when the cash rate is only 1%? Wouldn't they be losing money with this?

    • kipps on 18/08/2019 - 10:04

      How could they possibly be losing money given their home loan rates are much higher than this?

    • H E B on 20/08/2019 - 15:46

      Having a look I think their online 'saver' product ends up 'saving' you a whopping 0.5% all up, hardly comparable to inflation.

      Maybe that and some of their other poor saving products offsets this too.

  • H E B on 20/08/2019 - 15:41

    Sorry. I'd take my business elsewhere at 1.95%. A lot of people aren't loyal to their banks nowadays. It's not a terrible deal just not really much of a deal unfortunately.

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