• long running

[iOS, Android] Earn 4.90% p.a. on Savings Balance of up to $250,000 @ ANZ Plus


Looks like ANZ plus has followed others in bumping their rate on the back of the RBA decision.

An increase of 25bps from 4.65% to 4.9%. Still not the best on the market but a decent offering that requires no hoops.

4.9% interest on balance up to 250k.

3.75% interest is paid on the entire balance if it exceeds 250k.

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  • +4

    Can anyone tell me why they thought it a good idea to have a separate app for this? I mean seriously why ?

    • Really easy to set up an account and save some cash.

    • +2

      Then they can lay off employees and close more branches to make more profits.

    • +6

      New platform not tied to their antiquated systems.

    • +1

      Probably a similar reason to why UBank merged with 86400 and transferred the accounts to the 86400 system - because the existing ANZ systems are likely old and not that great to use, so they figured it was easier to just start from scratch with a fresh new system. I wouldn't be surprised if ANZ moved their standard accounts to the new ANZ Plus app in the future (hopefully with less pain than UBank lol)

    • As someone else kinda mentioned, this is a seperate neobank system away from the regular ANZ bank.
      They really want a lower cost base with this product which is why you can't transact with branches with it…

  • Any bumps at commonwealth bank?

    • yeah: Greeeed Bumps….

  • The "hoop" is having a seperate app.

  • They don’t accept proof of age cards as ID…

  • +2

    Beware of the withdrawal restrictions for these guys.

    Needed to take out a large chunk or change for a house deposit a couple months ago. Turns out they had a stupid limit ($20k per day from memory).

    After pleading with them, they said they can do a manual paper transfer that can take up to 5 business days. Massive pain in the ass. Stick to ubank, no withdrawal restrictions, much better service.

    • +2

      The app now allows a maximum $250k per day. But you’re right, the previous limit of $30k is quite stupid. Even worse, the normal ANZ internet banking (not ANZ Plus) only allows a maximum of $25k……

      • great they fixed that!

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