Our verdict

Get easy access to your business's cash and earn a little interest at the same time.

This account makes managing your excess business capital easy, with no fees and unlimited transactions between linked ANZ accounts.

Pros

No monthly fees
Unlimited free ANZ transactions
Earn interest on your business savings

Cons

Balances should be $5,000 or more to earn interest.

The ANZ Business Online Saver pays interest on your balance and charges no monthly account keeping fees. Balances above $5,000 will earn 1.15% interest.

Details

Key details

Product Name	ANZ Business Online Saver
Maximum Variable Rate	1.15% p.a.
Standard Variable Rate	1.15% p.a.
Monthly Account Fee	$0
Minimum Opening Deposit	$0
Minimum Age	18

Key features

Max interest rate of 1.15%

New customers who open an account online will earn the maximum interest rate of 1.15% when your balance is at least $5,000. Balances below this amount will not earn any interest.

No account keeping fees

ANZ charges no monthly account keeping fees for this account.

No transaction fees

Your account will not be charged any fees for making deposits or withdrawals from the Business Online Saver to your linked ANZ transaction account.

Interest calculated daily

Interest is calculated daily on the balance and deposited into the account on the last business day of each month.

Flexibility

This is an online account where you can access and transfer your money online or over the phone at any time of the day or night, any day of the week.

Linked account

You will need to have an ANZ business transaction account in order to move your savings in and out of the Business Online Saver. There could be fees and charges with that account which you should also compare before making your final choice.

Easily view your balance

You can view your savings balance by logging in to any ANZ ATM through your linked transaction account.

How to apply

If you like the features and benefits that the Business Online Saver offers and believe it is a good fit for your business needs, you can start an online application.

Eligibility

You should check first to ensure that you and your business meet ANZ's eligibility requirements first:

Use of account. This product is available for an Australian business only. ANZ does offer separate online savings accounts for personal use.
Position. You need to be the owner or director of the business.

Residency requirements. Applicants must be permanent residents of Australia, and the business must be operating inside of Australia with all supporting documentation.
Depository requirements. There's no minimum balance requirement to open this account.

Documentation needed

Certain documentation will also be necessary in order for ANZ to be able to complete your request for a business savings account:

Tax file number. Your Australian tax file number (TFN) or exemption code will help to ensure that ANZ is withholding the correct amount of tax on your interest earnings.
Identification. If you are not already an existing ANZ customer they will need to verify your identity with a photo identification document and other paperwork. The same applies for any joint applicants you may have.
Business number. You will be asked to provide your Australian Business Number (ABN) in order for the application to be processed.

What happens after I submit my application?

You will be notified immediately of the receipt of your application along with a reference number that can help you to track it. If ANZ needs further proof of your identity they may ask that you visit a local branch with other documentation. Once your application has been approved, you will be given the details through an email.

Compare other business savings accounts

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Name	Maximum Variable Rate p.a.	Base interest rate	Intro/Ongoing	Government Guarantee	Monthly Max Rate Conditions
Zeller Business Savings Account	Maximum Variable Rate p.a. 3.00%	Standard Variable Rate p.a. 3.00%	Intro/Ongoing Ongoing	Government Guarantee	Monthly Max Rate Conditions N/A	Go to site View details Compare	loading Fetching your data...
Thriday Business Savings	Maximum Variable Rate p.a. 3.35%	Standard Variable Rate p.a. 3.35%	Intro/Ongoing Ongoing	Government Guarantee	Monthly Max Rate Conditions N/A	Go to site View details Compare	loading Fetching your data...
Great Southern Bank Business+ Saver	Maximum Variable Rate p.a. 4.10%	Standard Variable Rate p.a. 4.10%	Intro/Ongoing Ongoing	Government Guarantee	Monthly Max Rate Conditions N/A	Compare	loading Fetching your data...
AMP Cash Manager	Maximum Variable Rate p.a. 4.80%	Standard Variable Rate p.a. 4.80%	Intro/Ongoing Ongoing	Government Guarantee	Monthly Max Rate Conditions Balances $10,000.01 to $250,000.	Compare	loading Fetching your data...
ANZ Business Online Saver	Maximum Variable Rate p.a. 1.15%	Standard Variable Rate p.a. 1.15%	Intro/Ongoing Ongoing	Government Guarantee	Monthly Max Rate Conditions Balances $5,000 and above	Compare	loading Fetching your data...
The Mutual Bank Cash Management Account	Maximum Variable Rate p.a. 0.05%	Standard Variable Rate p.a. 0.05%	Intro/Ongoing Ongoing	Government Guarantee	Monthly Max Rate Conditions N/A	Compare	loading Fetching your data...

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Alison Finder

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Sharon

December 04, 2023

Is there a better rate for businesses with larger amounts (over $500,000)?

Sarah Megginson Finder

December 11, 2023

Hi Sharon, Yes, you can search a range of different rates here: https://www.finder.com.au/business-banking/business-savings-accounts

Ying

December 30, 2015

Hi There,

Does the bank charge any fees if my business online saving account balance is lower $5000?

cheers,

Ying

Shirley Liu Finder

December 31, 2015

Hi Ying,

Thanks for your question.

ANZ doesn’t charge any fees if your balance is lower than $5,000, you just lose the bonus interest for that month.

Cheers,

Shirley

Alison Banney is the money editorial manager at Finder. She covers all areas of personal finance, and her areas of expertise are superannuation, banking and saving. She has written about finance for 10 years, having previously worked at Westpac and written for several other major banks and super funds. See full profile

ANZ Business Online Saver