ANZ

ANZ is known as one of Australia’s top 4 banks. It is the largest banking group in the New Zealand and Pacific region and is one of the top 50 banks in the world. Suffice to say, that when we refer to it as a big four bank, it is actually the biggest.

The bank first opened in 1835 in Sydney as the Bank of Australasia.

It opened its first Melbourne branch in 1838, with Melbourne later becoming home to ANZ’s world headquarters.

ANZ operates globally in 33 markets with representation in Australia, New Zealand, Asia, Pacific, Europe, America and the Middle East.

As technology, demographic shifts and globalisation have brought challenges as well as opportunities, ANZ has an important role to play in the financial wellbeing of its customers.

ANZ takes the financial wellbeing of its customers seriously, ensuring they have the best tools and insights available to them to make the right financial decisions.

ANZ describes its focus as creating a simpler, better balanced bank, that is applicable in the current digital age and which offers a superior every day customer experience.

ANZ claims it is devoted to providing improved customer outcomes, developing new services and distribution options and new initiatives that provide home owners and small business owners with a range of financial solutions.

ANZ's SWIFT code: ANZBAU3M

ANZ

ANZ is known as one of Australia’s top 4 banks. It is the largest banking group in the New Zealand and Pacific region and is one of the top 50 banks in the world. Suffice to say, that when we refer to it as a big four bank, it is actually the biggest.

The bank first opened in 1835 in Sydney as the Bank of Australasia.

It opened its first Melbourne branch in 1838, with Melbourne later becoming home to ANZ’s world headquarters.

ANZ operates globally in 33 markets with representation in Australia, New Zealand, Asia, Pacific, Europe, America and the Middle East.

As technology, demographic shifts and globalisation have brought challenges as well as opportunities, ANZ has an important role to play in the financial wellbeing of its customers.

ANZ takes the financial wellbeing of its customers seriously, ensuring they have the best tools and insights available to them to make the right financial decisions.

ANZ describes its focus as creating a simpler, better balanced bank, that is applicable in the current digital age and which offers a superior every day customer experience.

ANZ claims it is devoted to providing improved customer outcomes, developing new services and distribution options and new initiatives that provide home owners and small business owners with a range of financial solutions.

ANZ's SWIFT code: ANZBAU3M

ANZ Land Loan (Investment) IO

Variable
Rate 5.24
Comparison
Rate 5.18

ANZ Land Loan (Investment) P&I

Variable
Rate 4.99
Comparison
Rate 5.09

ANZ Land Loan IO

Variable
Rate 4.94
Comparison
Rate 4.70

ANZ Land Loan P&I

Variable
Rate 4.39
Comparison
Rate 4.49

ANZ Simplicity PLUS Investment Loan IO

Variable
Rate 3.73
Comparison
Rate 3.77

ANZ Simplicity PLUS Investment Loan P&I

Variable
Rate 3.74
Comparison
Rate 3.78

ANZ Simplicity PLUS IO

Variable
Rate 3.94
Comparison
Rate 3.85

ANZ Simplicity PLUS IO Special Offer (LVR >80%)

Variable
Rate 3.38
Comparison
Rate 3.17

ANZ Simplicity PLUS IO Special Offer (LVR not >80%)

Variable
Rate 3.38
Comparison
Rate 3.17

ANZ Simplicity PLUS P&I

Variable
Rate 3.74
Comparison
Rate 3.78

ANZ Simplicity PLUS P&I Special Offer (LVR >80%)

Variable
Rate 2.98
Comparison
Rate 3.02

ANZ Standard Residential Investment Loan IO

Variable
Rate 5.24
Comparison
Rate 5.18

ANZ Standard Residential Investment Loan P&I

Variable
Rate 4.99
Comparison
Rate 5.09

ANZ Standard Variable Loan IO

Variable
Rate 4.94
Comparison
Rate 4.70

ANZ Standard Variable Loan P&I

Variable
Rate 4.39
Comparison
Rate 4.49

ANZ Fixed Rate Personal Loan

1st year Fixed
Rate 8.99
Comparison
Rate. 9.88

ANZ Personal Overdraft

1st year Fixed
Rate
Comparison
Rate.

ANZ Variable Rate Personal Loan

1st year Fixed
Rate
Comparison
Rate.

ANZ Business Low Rate

Purchase
Rate 12.99
Annual
Fee $100.00

ANZ Business Rewards Options

Purchase
Rate 20.24
Annual
Fee $200.00

ANZ Access Advantage

Max Interest rate($10,000) Base Interest rate($10,000) 0.02

ANZ Farm Management

Max Interest rate($10,000) 1000 Base Interest rate($10,000) 0.05

ANZ Pensioner Advantage

Max Interest rate($10,000) Base Interest rate($10,000) 0.10

ANZ Premium Cash Management

Max Interest rate($10,000) 1000 Base Interest rate($10,000) 0.10

ANZ SMSF Cash Hub Account

Max Interest rate($10,000) Base Interest rate($10,000) 0.05

ANZ SMSF Cash Hub Account

Max Interest rate($10,000) Base Interest rate($10,000) 0.05

ANZ Advance Notice 50+

90 Days

0.08
1 Yr Paid
Annually 0.20

ANZ Standard Term Deposit

90 Days

0.05
1 Yr Paid
Annually 0.15

Farm Management Deposit

90 Days

0.50
1 Yr Paid
Annually 0.50

ANZ products

There are several different products on offer, ranging from bank account options including everyday accounts, savings accounts, term deposits, credit cards, home loans and personal loans. Superannuation, financial advisory and other financial services, including a share trading platform to help you trade Australian and international shares and manage your stock portfolio, are also on offer.

ANZ’s online and mobile banking platforms make it easy for you to view your statements online, check account balances, transfer funds between your accounts, activate new cards and update personal information.

If you are looking to switch your current account to an ANZ account, the bank provides an easy-to-use online switching service.

They can also help customers open an account when migrating to Australia.

Let’s have a look at ANZ’s product suite.

Types of accounts

ANZ transaction accounts

There are three types of ANZ transaction accounts.

  1. ANZ Access Advantage Access your funds using a Visa debit card online, over the phone, at ATMs and EFTPOS terminals with an ANZ Access Advantage account. This account has no monthly fees, if you make a minimum of one deposit per month of at least $2000.
  2. ANZ Pensioner Advantage An everyday account for individuals on the Veteran’s Affairs pension, allowance or Centrelink allowance. Funds can be accessed via a Visa debit card and there are no account keeping fees. One of the highlights of this account, is that the attached ANZ Visa debit card comes with accessibility features for the vision impaired. The account is also connected to ANZ Spendi, an online tool and app that helps customers monitor their daily spending. Existing customers can upgrade their credit card to an ANZ Access Visa Debit card with payWave.
  3. ANZ Access basic This account is available to eligible concession and healthcare card holders. There’s unlimited access to ANZ ATMs, no monthly fees and no minimum balance requirement. IT is very similar to the ANZ Pensioner Advantage account.

ANZ High interest savings accounts

  1. ANZ online Saver
    This account does not charge any account keeping fees, has no minimum balance requirements and provides access to your money through a linked ANZ everyday banking account. There’s a bonus rate for the first three months for new customers.
  2. ANZ Premium Cash Management Account
    This account is for those who wish to manage their investment cash flow. A minimum deposit of $10,000 is required to earn interest at tiered rates. Your money can be accessed at any time at any ANZ branch as well as at ATMs, EFTPOS terminals, phone banking, Internet banking and BPAY.
  3. ANZ Progress Saver
    If you are a regular saver, this account will suit you best as it offers competitive rates. You can earn up to 0.5% if you make no withdrawals and commit to a minimum deposit of $10 or more each month. There are no account keeping fees and you can also set up an automated monthly transfer to make sure you never miss a payment. There is also the ANZ Progress Saver for kids, which enables children to watch their savings grow. For children under 18, transaction fees and monthly account service fees are waived.

ANZ Term Deposits

There are two types of Term Deposit accounts:

  1. ANZ Term Deposit
    A minimum of $5000 and maximum of $99,999 is required to open an ANZ Term Deposit account. Terms can vary from one month to five years, however no notice is necessary if you would like to access these funds early. Interest is paid at maturity, or the bank will roll over your money if you choose to extend your term.
  2. ANZ Advance Notice Term Deposit
    The ANZ Advance Notice Term Deposit delivers customers a better rate of return than the basic ANZ Term Deposit. However, you will need to provide 31 days’ notice, if you would like to access your funds prior to maturity. You can open this account with a minimum $5000 and there are no account keeping fees.

ANZ Credit cards

ANZ has several different credit cards, all with specific advantages to help customers determine what best suits their needs. The cards include:

  1. Frequent Flyer cards
    With each eligible purchase, your account is automatically credited with Qantas frequent flyer points every month. There are three types of Frequent Flyer cards ANZ Frequent Flyer Black which gives you uncapped Qantas points, ANZ Frequent Flyer Platinum and the basic ANZ Frequent Flyer card.
  2. Reward Cards
    Your everyday purchases can see you earn flexible rewards points that are redeemable for a wide range of rewards. Rewards cards are divided into ANZ Rewards Travel Adventure card, which features no international transaction fees; ANZ Rewards Black, the bank’s highest earning potential Reward Points card, with uncapped flexible rewards and access to exclusive events and privileges; ANZ Rewards Platinum which offers complimentary insurances and a personal concierge and the basic ANZ Rewards card.
  3. Low Fee Cards
    The two cards under this banner offer low ongoing annual fees. ANZ Platinum has no annual fees and complimentary insurances and the basic ANZ First.
  4. Low Rate Cards
    The ANZ Low Rate card is a basic card with a standard low interest rate on eligible purchases.

ANZ Home Loans

Whether you are purchasing a home to live in, or seeking an investment property ANZ has different options to help meet your requirements.

  1. ANZ Break free package
    The ANZ Break Free home loan comes with a range of features including ongoing benefits if you bundling your home loan and everyday account into the Break Free package.This package has a variety of features:

    • Eligible accounts receive discounted interest rates
    • Fee waivers for eligible accounts
    • Have a number of home loans under the one package
    • Choose from variable or fixed rate
    • Credit card annual fee waived
    • Everyday account fees waived

    There is an annual package fee of $395.

  2. ANZ Standard Variable Home Loan
    The ANZ Standard Variable Home Loan has many features. This loan is designed to help you pay off your loan early or access extra repayments made.
    Features include:

    • Redraw available
    • Loan terms 1-30 years with your choice of weekly, fortnightly or monthly repayments
    • Additional repayments can be made with no penalty
    • Use in conjunction with an ANZ offset account
  3. ANZ Fixed Home Loan
    A fixed rate means your repayments will be the same each and every month, no surprises.
    Features include:

    • Choose fixed term of 1,2,3,4,5,7 or 10 years
    • Apply for interest only repayments
    • Use in conjunction with an ANZ offset account to save on interest repayments
  4. ANZ Simplicity Plus
    A simple loan with no ongoing fees. It has a slightly higher interest rate than the standard variable home loan.
    Loan features:

    • Make extra repayments with no penalty fees
    • Redraw facility available
    • Loan terms up to 30 years with your choice on repayment frequency
  5. ANZ Equity Manager
    This is a line of credit where you can access the equity on your home, if you are in need of money. It is accessible at any time.
    Features include:

    • Only pay interest on what you use
    • Withdraw up to approved limit
    • Make repayments when you want

ANZ Personal loans

ANZ offers two types of personal loans.

  1. ANZ Fixed Rate Loan
    The ANZ Fixed Rate Loan is best if you are looking If you want stability in a personal loan. The fixed rate means repayments remain the same each month for the duration of the loan.
    Fixed payments make it easier to budget. You can receive funds on the same day as approval and immediately start using the ANZ app or online banking to see your account details. You can borrow from $5000 to a maximum $50,000 from a one year term to a seven year term.
  2. ANZ Variable Rate Loan
    If it’s flexibility you are after, the ANZ Variable Rate Loan will help you pay your loan off early, without any penalty fees. Again the loan term can be from one to seven years ranging from $5000 to $50,000 and if approved, you will receive the funds the same day.

ANZ for business

As an international bank, the ANZ delivers great support to its business clients both local and abroad. ANZ provides a range of loans and overdraft facilities, including a 20 minute approval of unsecured loans up to $200,000. Other solutions include bank guarantees, ANZ Tailored Commercial Facility, ANZ Commercial Bill Facilities, ANZ Revolving Agri-Line, which delivers a flexible line of credit and vehicle equipment finance. Credit cards, superannuation products and merchant and payment solutions are also available. Finally, tailored international trade and foreign exchange solutions are available for international businesses.

The pros and cons of banking with ANZ

Pros

  • Accounts to suit everyone
  • Global presence
  • Large ATM network
  • Trade the ASX
  • Trade international stocks
  • Simple transfers

Cons

  • May need to meet certain criteria in order to qualify for fee waivers
  • ANZ doesn’t have SMS alerts
  • Very expensive commission on its trading app