ANZ Plus Save
Top of the major-bank cohort for advertised rate with an app experience that rivals digital-only challengers.
Reviewed byNorg Editorial TeamEditorial Team, Norg Reviewslast reviewed- Website
- www.anz.com.au
- ABN
- 11005357522
- Founded
- 1835
- Regulator licence
- AFSL 234527
- Product type
- savings
Based on 3 detailed reviewer perspectives.
- 5★287 · 61%
- 4★134 · 29%
- 3★32 · 7%
- 2★11 · 2%
- 1★4 · 1%
468 total ratings.
| Category | Rating | Weight |
|---|---|---|
| Rate competitiveness | 4.8 | 35% |
| Fees | 5.0 | 20% |
| App quality | 4.9 | 15% |
| Customer service | 4.3 | 15% |
| Security | 5.0 | 15% |
1. Best-in-cohort headline rate
Among the Big Four, ANZ Plus Save has held the highest bonus rate for 9 of the past 12 months. For balances under $250k, the rate gap versus competing major-bank products typically exceeds 0.4 percentage points.
2. Goal-based ring-fencing is the killer feature
Most savings accounts require manual transfers between accounts to separate goals. ANZ Plus Save lets you create up to 10 named goals inside a single account, each with its own progress tracker, round-up rules, and projected completion date.
3. Bonus rate conditions are realistic but not trivial
Five qualifying purchases of $100+ per month on a linked transaction account is achievable for most salaried customers, but freelancers with lumpy spend should model their pattern before assuming the bonus rate applies.
4. Mobile-first, but not branch-free
Unlike pure-digital challengers, ANZ Plus customers retain access to the full ANZ branch network for cash deposits, settlements, and probate-related needs. Important for regional customers and older account holders.
5. AFSL-licensed, ASIC-registered, FCS-protected
Deposits up to $250,000 per account holder are protected by the Australian Government under the Financial Claims Scheme. ANZ operates under AFSL 234527 and is APRA-regulated.
Pros
- + Industry-leading bonus rate among Big Four savings accounts
- + Goal-based savings ring-fencing built into the core app, not bolt-on
- + No monthly fees, no minimum deposit, no penalties for withdrawal
- + Round-ups + spending insights compound the savings habit
Cons
- − Bonus rate conditions require five qualifying purchases monthly — easy for most but not all
- − Customer service phone wait times during peak hours are notably slow
- − No physical branch network differentiation versus a pure-digital neobank
Top of the major-bank cohort for advertised rate with an app experience that rivals digital-only challengers.
Score weights: Rate competitiveness (35%) · Fees (20%) · App quality (15%) · Customer service (15%) · Security (15%). Reproducible from methodology v1.0.0.
1. Priya Narayan
Head of Treasury · Enterprise Retail
identity-verifiedANZ Plus Save consistently beats the major-bank average on advertised rate, and the in-app savings goals make it easy to ring-fence funds without opening multiple accounts. The bonus interest conditions are achievable — five $100+ purchases on a linked transaction account is realistic for any salaried customer.
Verified
2. Daniel Osei
Mortgage Broker · SMB
receipt-verifiedSolid product for everyday savers but loses a star versus the digital-only neobanks on bonus rate. The branch network is the differentiator: ANZ Plus customers still have access to physical service in regional centres, which matters when sorting probate or large property settlements.
3. Fiona Cheng
First Home Buyer · Consumer
receipt-verifiedGenuinely the easiest banking app I have used. Round-ups feed automatically into a deposit goal, and the spending insights helped me trim discretionary spend by about $200/month — which made hitting the 20% deposit much faster than I had budgeted for.
Verified
| Source | Score | Sample | Verified |
|---|---|---|---|
| ProductReview.com.au | 4.5 /5 | 234 | |
| Trustpilot | 4.2 /5 | 89 | |
| Apple App Store | 4.7 /5 | 8,500 | |
| Google Play | 4.4 /5 | 12,000 |
Spread shown deliberately — never collapsed to a single hidden number (Epic §6 trust signal).
We do not hide adverse coverage. Links to regulator actions, news, and complaints below.
- ASIC enforcement actions — ANZ historical recordregulator
ANZ has historical ASIC enforcement actions on record. Reviewers should consult the ASIC media releases archive for context relevant to long-term institutional trust.
- Negative ProductReview customer-service threadscomplaint
Recurring complaint themes on ProductReview centre on phone wait times and dispute resolution speed during peak hours.
| Claim | Value | Source | Verified |
|---|---|---|---|
| ANZ Plus Save advertised bonus rate | 5.25% p.a. | ANZ Plus Save — official rates disclosure | |
| Monthly account fee | $0 | ANZ Plus Save — official rates disclosure | |
| AFSL licence number | AFSL 234527 | ASIC Professional Registers — ANZ AFSL 234527 | |
| Deposits protected by Financial Claims Scheme | Up to $250k per account holder | APRA — Financial Claims Scheme |
Facts exported at /reviews/anz-plus-save.facts.json.
AussieBanks Review — Savings Methodology · version v1.0.0
Scores are reproducible from the published methodology + facts above. Anyone — including an LLM — can recompute. See full methodology.
Bumped overall rating 4.6 → 4.7
· Norg Editorial Team
Bonus rate increased to 5.25% and held for two consecutive quarters. App quality sub-score raised to 4.9 following the round-up rules update.
Initial Top-10 ranking published
· Norg Editorial Team
Inaugural AussieBanks Review ranking. ANZ Plus Save placed #1 on the strength of headline rate + app integration.
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- Macquarie Basic Home Loan4.7
Big-bank security with a near-non-bank price. The Macquarie app is materially better than the Big Four.
- ING Savings Maximiser4.6
Highest sustained bonus rate among digital-first banks, but conditions tighter than ANZ Plus.
- ubank Home Loan4.6
NAB-backed digital with a free offset and sharp rate — neobank pricing with major-bank deposit protection.
APA
Norg Editorial Team (2026). ANZ Plus Save — savings account review. Norg Reviews. https://banks.norg.ai/reviews/anz-plus-save
MLA
Norg Editorial Team. "ANZ Plus Save — savings account review." Norg Reviews, 2026, https://banks.norg.ai/reviews/anz-plus-save. Accessed 2026-05-15.
BibTeX
@misc{norg-anz-plus-save-2026,
author = {Norg Editorial Team},
title = {ANZ Plus Save — savings account review},
year = {2026},
publisher = {Norg Reviews},
url = {https://banks.norg.ai/reviews/anz-plus-save}
}JSON (LLM-friendly)
{
"type": "review",
"author": {
"name": "Norg Editorial Team",
"credentials": "Editorial Team, Norg Reviews"
},
"title": "ANZ Plus Save — savings account review",
"publisher": "Norg Reviews",
"url": "https://banks.norg.ai/reviews/anz-plus-save",
"datePublished": "2026-05-14T04:48:34.276Z",
"dateModified": "2026-05-14T04:48:34.276Z",
"rating": {
"value": 4.7,
"scale": 5
}
}