ANZ increases variable interest rate for Progress Saver

ANZ today announced it will increase the Progress Saver bonus interest rate by 0.25%pa, effective Friday 13 May.

Group Executive Australia Maile Carnegie said: “It has been a difficult environment for savers in recent years with record low rates, so this increase we have announced today will help them reach their savings goals faster.

“Progress Saver is our most popular savings product that provides customers a better rate if they continue to save,” Ms Carnegie said.

ANZ Progress Saver has no account keeping fee and is designed to help customers save by providing a bonus rate if they deposit at least $10 a month and don’t withdraw any money. From Friday 13 May, ANZ customers with a Progress Saver account will get a total rate of 0.40% inclusive of the bonus rate.

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