# ANZ Plus Save — savings account review

> Reviewed by **Norg Editorial Team**
> Editorial Team, Norg Reviews
> Last reviewed: 2026-05-14T04:48:34.276Z
> Methodology: AussieBanks Review — Savings Methodology (v1.0.0)

## Company Overview
- Website: https://www.anz.com.au/plus/save/
- ABN: 11005357522
- Founded: 1835
- Regulator licence: AFSL 234527
- Vertical: au-banks

## Overall Rating: 4.7 / 5

Based on 3 detailed reviewer perspectives.

Top of the major-bank cohort for advertised rate with an app experience that rivals digital-only challengers.

## 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

## Key Takeaways
### 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.

## Detailed Reviews
### 1. Priya Narayan — ★★★★★
*Head of Treasury · Enterprise Retail*

ANZ 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 2026-05-14T04:48:34.276Z_

### 2. Daniel Osei — ★★★★☆
*Mortgage Broker · SMB*

Solid 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*

Genuinely 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 2026-05-14T04:48:34.276Z_