According to ANZ's 2020 MoneyMinded Impact Report, 58,015 participants were estimated to have completed MoneyMinded in 2019-20, a free online financial education course designed to build financial knowledge, confidence and skills to help people make informed decisions about their money. 

A linked ANZ program to MoneyMinded, SaversPlus, which gives up to $500 in matched savings was completed by 3,352 participants, collectively saving over $1.7 million for education costs.

Need somewhere to store cash and earn interest? The table below features savings accounts with some of the highest interest rates on the market.

Rates
Features
Conditions
Other
Provider
4001$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]More details
  • Bonus rate for the first 4 months from account opening
  • No account keeping fees
  • No minimum balance
Disclosure

High Interest Savings Account (<$250k)

  • Bonus rate for the first 4 months from account opening
  • No account keeping fees
  • No minimum balance
More details
Disclosure
010000$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]More details
  • Deposit at least $1,000+ each month from an external source
  • Make 5 or more eligible transactions. Grow your savings balance each month
Disclosure

Savings Maximiser

  • Deposit at least $1,000+ each month from an external source
  • Make 5 or more eligible transactions. Grow your savings balance each month
More details
Disclosure
000$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]More details
Use code EASY30 to score $30*
  • Use code EASY30 to score $30 after 5 card purchases in your first 30 days. See terms link on the app store*
  • Retrace your spending steps into categories with Spending Footprint.
  • No monthly or international fees on any of your transactions.
Disclosure
Use code EASY30 to score $30*

Save Account

  • Use code EASY30 to score $30 after 5 card purchases in your first 30 days. See terms link on the app store*
  • Retrace your spending steps into categories with Spending Footprint.
  • No monthly or international fees on any of your transactions.
More details
Disclosure
4000$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]More details
  • A high-interest online savings account with no monthly fees, easy withdrawals and award-winning digital banking
  • No withdrawal notice periods or interest rate penalties
  • Save up to 10% on eGift cards at over 50 retailers with Macquarie Marketplace
Disclosure

Savings Account

  • A high-interest online savings account with no monthly fees, easy withdrawals and award-winning digital banking
  • No withdrawal notice periods or interest rate penalties
  • Save up to 10% on eGift cards at over 50 retailers with Macquarie Marketplace
More details
Disclosure
00$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]More details
Disclosure

AMP Cash Manager

    More details
    Disclosure
    • Bonus rate for the first 4 months from account opening
    • No account keeping fees
    • No minimum balance

    More details
    Important Information and Comparison Rate Warning

    All products with a link to a product provider’s website have a commercial marketing relationship between us and these providers. These products may appear prominently and first within the search tables regardless of their attributes and may include products marked as promoted, featured or sponsored. The link to a product provider’s website will allow you to get more information or apply for the product. By de-selecting “Show online partners only” additional non-commercialised products may be displayed and re-sorted at the top of the table. For more information on how we’ve selected these “Sponsored”, “Featured” and “Promoted” products, the products we compare, how we make money, and other important information about our service, please click here. Rates correct as of February 5, 2025. View disclaimer.

    Important Information and Comparison Rate Warning

    Savers can earn this $500 by opening an ANZ Progress Saver account and completing the eight-step MoneyMinded financial education program, and it can be used towards education costs for themselves or their children. 

    Note that the ANZ Progress Saver account has a much lower interest rate compared to other savings accounts on the market.

    More than 725,000 people have participated in MoneyMinded since 2002, and this year the number of online participants surged. 

    ANZmm

    MoneyMinded is ANZ’s financial literacy program. Source: moneyminded.com.au.

    According to RMIT University, 4 in 5 (81%) MoneyMinded Online participants reported the program had a positive impact on their financial wellbeing, and 64% reported the program helped them manage the financial impacts of COVID-19. 

    "MoneyMinded Online helps participants strengthen their financial capabilities, for some participants the program helps to set a financial goal, commence a saving habit or review their budget and for others it has completely overhauled their financial lives," ANZ's Senior Manager Financial Inclusion Janet Liu said. 

    The data looks to show this as true: 70% of participants reported increased ability to meet their bills and credit commitments after using the scheme. 

    More than 9 in 10 (92%) said they were better able to deal with their financial problems after using the program, while:

    • 72% now report having an increased ability to save after paying for food and regular expenses
    • 82% had generally increased their ability to save
    • 86% felt confident in their ability to plan for their financial future 
    • 88% had better goal-setting behaviour
    • 65% felt more confident about other aspects of their life, and
    • 72% reported they are now able to avoid loans from payday lenders 

    ANZ Chief Executive Officer Shayne Elliott meanwhile said ANZ would continue to work with participants to help them access the scheme, particularly those without online access, following the pandemic. 

    "We know that many in our community will be facing such hardship for the first time in their life and will not necessarily have the skills to get through this in the best possible shape," he said. 

    “While it’s encouraging to see that participants who accessed the program online experienced similar positive outcomes as those who traditionally accessed the face-to-face program, we need to work closely with our community partners and facilitators to determine how we can adapt our programs post COVID-19 without unintentionally excluding those who cannot easily access online modules." 

    Australian financial wellbeing declines during COVID

    According to the ANZ Roy Morgan Financial Wellbeing quarterly report for November 2020, overall financial wellbeing declined across the country, thanks to the negative economic impacts of the virus. 

    The Wellbeing Indicator declined from 60.7 in March 2020 (out of 100) to 56.8 in the five months to August 2020, a fall of 6.4%. 

    Wellbeing1

    Source: ANZ, Roy Morgan

    Young people continued to be disproportionately affected, as were certain occupations like food and service workers, construction trades, arts and media professionals etc. 

    Respondents were also divided into four different segments with different average wellbeing scores: Struggling (0-30), Getting By (31-50), Doing Ok (51-80) and No Worries (81-100). 

    The population of the 'No Worries' category fell sharply, from 22.4% in March to 16.9% in August. 

    The majority of the population was 'Doing Ok', but fell from 47.6% to 45.7%. 

    The number of people in the bottom two categories increased from 30% to more than 37%, reversing the trend of recent years where more people left these wellbeing groups. 

    In August, 23.4% were ‘Getting By’ financially and 14.0% were ‘Struggling’.

    Wellbeing2

    Source: ANZ, Roy Morgan

    Image source: Pixabay