Compare Savings Accounts in Australia (2026)
Compare Australian savings account interest rates, bonus conditions, and fees at a glance. Last verified: 21/07/2026
Rates can change without notice. Last verified: 21/07/2026 (AEST). Please confirm details on the bank’s official page.
The right savings account can help you grow an emergency fund, save for a holiday, or reach your first-home deposit sooner. We highlight the details that matter most so you can choose with confidence.
Rabobank
- Account
- High Interest Savings Account
- Max rate
- 5.9%
- Base rate
- 4%
- Bonus rules / notes
- 4 month introductory variable rate (4.00% standard + 1.90% bonus) on balances up to $250,000 for new personal customers. Reverts to 4.00% p.a. ongoing. No account keeping fees, no minimum balance.
- Verified
- 2026-07-21
ING
- Account
- Savings Maximiser
- Max rate
- 5.5%
- Base rate
- 0.01%
- Bonus rules / notes
- Deposit $1,000+ monthly and make 5+ card purchases to earn bonus rate.
- Verified
- 2026-07-21
ubank
- Account
- Save Account
- Max rate
- 5.85%
- Base rate
- 5.1%
- Bonus rules / notes
- Introductory max rate for new accounts, then ongoing bonus rate. Must grow your combined Save accounts balances to earn bonus interest.
- Verified
- 2026-07-21
Macquarie
- Account
- Savings Account
- Max rate
- 5.35%
- Base rate
- 5%
- Bonus rules / notes
- Variable welcome rate for 4 months on balances up to $250k, then 5.00% p.a. ongoing variable rate on balances up to $2m.
- Verified
- 2026-07-21
Suncorp Bank
- Account
- Growth Saver
- Max rate
- 5.1%
- Base rate
- 0.1%
- Bonus rules / notes
- Net balance must grow by $200+ per month (interest earned doesn't count). Maximum 1 withdrawal per month while qualifying. No minimum deposit. Note: Suncorp was acquired by ANZ in July 2024 — products continue under Suncorp brand.
- Verified
- 2026-07-21
St.George
- Account
- Maxi Saver
- Max rate
- 5.35%
- Base rate
- 1.25%
- Bonus rules / notes
- Introductory rate for first 6 months: 3.65% p.a. fixed intro + 0.45% p.a. online bonus + 1.25% p.a. standard variable = 5.35%. After 6 months reverts to ~1.70% p.a. (1.25% standard + 0.45% online bonus). Must hold a St.George Complete Freedom transaction account. St.George is a division of Westpac.
- Verified
- 2026-07-21
Bank of Melbourne
- Account
- Maxi Saver
- Max rate
- 5.35%
- Base rate
- 1.25%
- Bonus rules / notes
- Same rate structure as St.George Maxi Saver (both Westpac Group). Introductory rate for first 6 months: 3.65% p.a. fixed intro + 0.45% p.a. online bonus + 1.25% p.a. standard variable = 5.35%. After 6 months reverts to ~1.70% p.a. Must hold Bank of Melbourne Complete Freedom transaction account.
- Verified
- 2026-07-21
ANZ Plus
- Account
- Growth Saver
- Max rate
- 5.1%
- Base rate
- 0.1%
- Bonus rules / notes
- Bonus rate applies when you grow your Growth Saver balance by $100 or more (net of interest) each month. Requires ANZ Plus Everyday linked account. No minimum deposit. Available via the ANZ Plus app only.
- Verified
- 2026-07-21
ANZ
- Account
- Progress Saver
- Max rate
- 3.74%
- Base rate
- 0.01%
- Bonus rules / notes
- Bonus rate applies in a calendar month when you deposit at least $10 (excluding interest) and make no withdrawals; otherwise the 0.01% base rate applies. A big-four account, but the rate trails the leading savers. Separate from ANZ Plus.
- Verified
- 2026-07-21
ANZ
- Account
- Online Saver
- Max rate
- 1.35%
- Base rate
- 1.35%
- Bonus rules / notes
- Ongoing variable rate with no monthly conditions. New customers may receive an introductory bonus rate for an initial period — check ANZ for the current promotion. The ongoing rate is well below the market's leading savers. Separate from ANZ Plus.
- Verified
- 2026-07-21
Great Southern Bank
- Account
- Goal Saver
- Max rate
- 5.35%
- Base rate
- 0.5%
- Bonus rules / notes
- Youth account — for customers aged 18 to 24. Bonus rate on balances up to $50,000. Conditions: receive $500+ by electronic transfer into linked Everyday Edge Account from a non-GSB account each month + make at least 5 settled Visa Debit purchases from Everyday Edge each month. Customer-owned bank (formerly CUA).
- Verified
- 2026-07-21
Newcastle Permanent
- Account
- Smart Saver (under 25)
- Max rate
- 5.7%
- Base rate
- 0.05%
- Bonus rules / notes
- Youth account — all account holders must be under 25. Bonus rate is earned in any calendar month the closing balance is higher than the opening balance (excluding interest) and no more than 2 withdrawals are made. Otherwise the 0.05% standard rate applies. No monthly fees.
- Verified
- 2026-07-21
Greater Bank
- Account
- Life Saver
- Max rate
- 5.25%
- Base rate
- 0%
- Bonus rules / notes
- Youth account — for under-25s. Interest is paid monthly on the daily balance only in months where your closing balance is higher than your opening balance; no interest is earned in a month your balance doesn't grow. No monthly fees. (Greater Bank is part of Newcastle Greater Mutual Group.)
- Verified
- 2026-07-21
NAB
- Account
- Reward Saver
- Max rate
- 5%
- Base rate
- 0.01%
- Bonus rules / notes
- Bonus rate when you make at least one deposit on or before the second last banking day of the month AND make no withdrawals during the month. Applies to all balance tiers ($1–$1,000,000+). No minimum deposit, no monthly fees.
- Verified
- 2026-07-21
CommBank
- Account
- GoalSaver
- Max rate
- 5%
- Base rate
- 0.25%
- Bonus rules / notes
- Bonus rate when you make at least 1 deposit of any amount AND end the month with a higher balance than the start (bank-initiated transactions such as interest payments excluded). No minimum deposit. Australia's largest bank.
- Verified
- 2026-07-21
Westpac
- Account
- Life
- Max rate
- 5%
- Base rate
- 0.1%
- Bonus rules / notes
- Bonus rate (4.90% p.a.) when you: make at least 1 deposit, keep balance above $0 at all times, and end the month with a higher balance than the start. Interest credits don't count toward growth. Must hold a Westpac Choice everyday account. No account-keeping fee on the Life account.
- Verified
- 2026-07-19
MyState Bank
- Account
- Bonus Saver
- Max rate
- 5%
- Base rate
- 0.01%
- Bonus rules / notes
- Bonus rate when you deposit $20+ into the account each month AND make 5+ eligible Visa Debit transactions from linked MyState transaction account. Applies to balances up to $500,000. No monthly fees. Tasmania-based customer-owned bank.
- Verified
- 2026-07-21
BOQ
- Account
- Smart Saver
- Max rate
- 5.4%
- Base rate
- 0.05%
- Bonus rules / notes
- Smart Saver (ages 36+). Conditions: credit $1,000+ electronically per month to linked BOQ Everyday account + make 5+ eligible transactions (debit card, BPAY, or direct debit) from Everyday account each prior calendar month. Also available: Future Saver (ages 14–35) at 5.50% p.a. on first $50,000.
- Verified
- 2026-07-19
Virgin Money
- Account
- Boost Saver
- Max rate
- 4.5%
- Base rate
- 4.2%
- Bonus rules / notes
- Standard bonus rate (4.20%) when you deposit $2,000+/month into linked Go Account from external institution + make 5+ settled purchases on Go Account each month (ages 25+; $1,000/month for 18–24). Lock Saver adds +0.30% (4.50%) by locking funds for a chosen period (32 days' notice to access).
- Verified
- 2026-07-21
ME Bank
- Account
- SaveME
- Max rate
- 4.35%
- Base rate
- 0.05%
- Bonus rules / notes
- Bonus rate when you make 4+ settled (not pending) Visa Debit card purchases using the linked SpendME transaction account in the prior calendar month. Bonus applies on balances up to $500,000. No minimum deposit.
- Verified
- 2026-07-21
| Action | ||||||
|---|---|---|---|---|---|---|
Rabobank | High Interest Savings Account | 5.9% | 4% | 4 month introductory variable rate (4.00% standard + 1.90% bonus) on balances up to $250,000 for new personal customers. Reverts to 4.00% p.a. ongoing. No account keeping fees, no minimum balance. | 2026-07-21 | |
ING | Savings Maximiser | 5.5% | 0.01% | Deposit $1,000+ monthly and make 5+ card purchases to earn bonus rate. | 2026-07-21 | |
ubank | Save Account | 5.85% | 5.1% | Introductory max rate for new accounts, then ongoing bonus rate. Must grow your combined Save accounts balances to earn bonus interest. | 2026-07-21 | |
Macquarie | Savings Account | 5.35% | 5% | Variable welcome rate for 4 months on balances up to $250k, then 5.00% p.a. ongoing variable rate on balances up to $2m. | 2026-07-21 | |
Suncorp Bank | Growth Saver | 5.1% | 0.1% | Net balance must grow by $200+ per month (interest earned doesn't count). Maximum 1 withdrawal per month while qualifying. No minimum deposit. Note: Suncorp was acquired by ANZ in July 2024 — products continue under Suncorp brand. | 2026-07-21 | |
St.George | Maxi Saver | 5.35% | 1.25% | Introductory rate for first 6 months: 3.65% p.a. fixed intro + 0.45% p.a. online bonus + 1.25% p.a. standard variable = 5.35%. After 6 months reverts to ~1.70% p.a. (1.25% standard + 0.45% online bonus). Must hold a St.George Complete Freedom transaction account. St.George is a division of Westpac. | 2026-07-21 | |
Bank of Melbourne | Maxi Saver | 5.35% | 1.25% | Same rate structure as St.George Maxi Saver (both Westpac Group). Introductory rate for first 6 months: 3.65% p.a. fixed intro + 0.45% p.a. online bonus + 1.25% p.a. standard variable = 5.35%. After 6 months reverts to ~1.70% p.a. Must hold Bank of Melbourne Complete Freedom transaction account. | 2026-07-21 | |
ANZ Plus | Growth Saver | 5.1% | 0.1% | Bonus rate applies when you grow your Growth Saver balance by $100 or more (net of interest) each month. Requires ANZ Plus Everyday linked account. No minimum deposit. Available via the ANZ Plus app only. | 2026-07-21 | |
ANZ | Progress Saver | 3.74% | 0.01% | Bonus rate applies in a calendar month when you deposit at least $10 (excluding interest) and make no withdrawals; otherwise the 0.01% base rate applies. A big-four account, but the rate trails the leading savers. Separate from ANZ Plus. | 2026-07-21 | |
ANZ | Online Saver | 1.35% | 1.35% | Ongoing variable rate with no monthly conditions. New customers may receive an introductory bonus rate for an initial period — check ANZ for the current promotion. The ongoing rate is well below the market's leading savers. Separate from ANZ Plus. | 2026-07-21 | |
Great Southern Bank | Goal Saver | 5.35% | 0.5% | Youth account — for customers aged 18 to 24. Bonus rate on balances up to $50,000. Conditions: receive $500+ by electronic transfer into linked Everyday Edge Account from a non-GSB account each month + make at least 5 settled Visa Debit purchases from Everyday Edge each month. Customer-owned bank (formerly CUA). | 2026-07-21 | |
Newcastle Permanent | Smart Saver (under 25) | 5.7% | 0.05% | Youth account — all account holders must be under 25. Bonus rate is earned in any calendar month the closing balance is higher than the opening balance (excluding interest) and no more than 2 withdrawals are made. Otherwise the 0.05% standard rate applies. No monthly fees. | 2026-07-21 | |
Greater Bank | Life Saver | 5.25% | 0% | Youth account — for under-25s. Interest is paid monthly on the daily balance only in months where your closing balance is higher than your opening balance; no interest is earned in a month your balance doesn't grow. No monthly fees. (Greater Bank is part of Newcastle Greater Mutual Group.) | 2026-07-21 | |
NAB | Reward Saver | 5% | 0.01% | Bonus rate when you make at least one deposit on or before the second last banking day of the month AND make no withdrawals during the month. Applies to all balance tiers ($1–$1,000,000+). No minimum deposit, no monthly fees. | 2026-07-21 | |
CommBank | GoalSaver | 5% | 0.25% | Bonus rate when you make at least 1 deposit of any amount AND end the month with a higher balance than the start (bank-initiated transactions such as interest payments excluded). No minimum deposit. Australia's largest bank. | 2026-07-21 | |
Westpac | Life | 5% | 0.1% | Bonus rate (4.90% p.a.) when you: make at least 1 deposit, keep balance above $0 at all times, and end the month with a higher balance than the start. Interest credits don't count toward growth. Must hold a Westpac Choice everyday account. No account-keeping fee on the Life account. | 2026-07-19 | |
MyState Bank | Bonus Saver | 5% | 0.01% | Bonus rate when you deposit $20+ into the account each month AND make 5+ eligible Visa Debit transactions from linked MyState transaction account. Applies to balances up to $500,000. No monthly fees. Tasmania-based customer-owned bank. | 2026-07-21 | |
BOQ | Smart Saver | 5.4% | 0.05% | Smart Saver (ages 36+). Conditions: credit $1,000+ electronically per month to linked BOQ Everyday account + make 5+ eligible transactions (debit card, BPAY, or direct debit) from Everyday account each prior calendar month. Also available: Future Saver (ages 14–35) at 5.50% p.a. on first $50,000. | 2026-07-19 | |
Virgin Money | Boost Saver | 4.5% | 4.2% | Standard bonus rate (4.20%) when you deposit $2,000+/month into linked Go Account from external institution + make 5+ settled purchases on Go Account each month (ages 25+; $1,000/month for 18–24). Lock Saver adds +0.30% (4.50%) by locking funds for a chosen period (32 days' notice to access). | 2026-07-21 | |
ME Bank | SaveME | 4.35% | 0.05% | Bonus rate when you make 4+ settled (not pending) Visa Debit card purchases using the linked SpendME transaction account in the prior calendar month. Bonus applies on balances up to $500,000. No minimum deposit. | 2026-07-21 |
How to Compare Savings Accounts
When comparing savings accounts in Australia, look beyond the headline rate. The maximum rate usually requires conditions — monthly deposits, no withdrawals, or minimum transactions. The base rate is what you earn if you miss those conditions. A high-rate account with strict conditions may deliver less than a lower-rate account with no strings attached.
- Base rate vs bonus rate: Bonus rates require conditions to be met each month.
- Introductory rates: Some accounts offer higher rates for the first 3–4 months only.
- Fees: Monthly account fees eat into interest earned — look for $0 fee accounts.
- Access: Savings accounts allow withdrawals; term deposits lock your money in for a fixed period.
In-depth reviews
- Rabobank HISA review — 5.90% p.a. for 4 months, then 4.00% ongoing. No monthly conditions.
- ubank Save Account review — 5.85% p.a. intro, 5.10% ongoing. Grow your balance each month.
- ING Savings Maximiser review — 5.50% p.a. Deposit $1,000 + 5 card purchases per month.
- Macquarie Savings Account review — 5.10% p.a. for 4 months, then 4.75% ongoing. No conditions.
More to explore
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Information is general in nature and may change without notice. Check rates, eligibility and fees on the bank’s website before applying.