Best Savings Account interest Rates Australia
Best Savings Account interest Rates Australia
1. Commonwealth Bank
Compare, then choose one or more of our savings accounts to give you greater peace of mind and help you reach your savings goals faster.
Featured rate 5.10%PA
Standard Variable Rate (with Wealth Package) 5.50%PA
Comparison rate Enjoy a discount on the standard variable rate (Owner Occupied) with Wealth Package.
Principal and Interest repayments, an interest rate discount of 0.70% p.a. with no establishment fee or monthly loan service fees. Minimum package lending balance of $150,000.
2. ANZ Banking Group
Don’t have an eligible savings account? With one of these goal saving accounts you can set a goal in the ANZ App. Learn more, or apply for one in just a few minutes below.Superscript:2
Goal-based saving
Be rewarded with bonus interest for regular savings of $10 or more and no withdrawals in a month
You could earn: 1.15% p.a.Superscript:3
0.01% p.a. base rate + 1.14% p.a. bonus interest rate, when you make at least one deposit of $10 or more and no withdrawals in a month.Superscript:3
Flexible saving Earn interest and access your savings anytime online via your linked everyday accountSuperscript:4
You could earn: 0.40% p.a.Superscript:5
0.30% p.a. standard variable rate (subject to change) + 0.10% p.a. bonus rate (for 3 months).Superscript:5 For new eligible customers.
3. Westpac
There’s nothing more exciting than buying a first home. It’s one of the biggest purchases you’ll ever make and one that will change your life.
So it’s normal to have a few questions about how everything works. And when you’re asking more questions than you’re getting answers, it’s normal to feel stressed or anxious. But it’s never too early to start reading up on things like saving for a house deposit or how much you’ll be able to borrow. The more you know now, the sooner you’ll be moving in.
How much do I need to save?
It’s a good idea to aim for 20% of the purchase price, plus a bit extra. If you know the area you’d like to buy in, have a look at property listings to get a sense of the average house price. And don’t be afraid to start small – you could always move to something bigger later on.This means you could need to save a deposit of approximately $138,040 (excluding additional costs) to avoid paying Lender’s Mortgage Insurance.
If you have between 5% and 20% of the property’s value (which is based on your lender’s valuation of the property), you can still put down a deposit, but you may need to pay Lenders Mortgage Insurance. This lets you borrow a larger percentage of the purchase price and can either be paid up front or be included in your loan repayments, so it’s spread out over time.
4. National Australian Bank (NAB)
Compare our two savings account options. Whether you’re saving for a goal or want easy access to your savings, both accounts can be opened online in less than five minutes.
Earn up to 1.25 % p.a. for balances up to $49,999
Earn up to 1.25% p.a. (0.10% p.a. variable base rate + 1.15% p.a. variable bonus rate) for each month that you make at least one deposit before the second last banking day and no withdrawals.
Indicator rates – personal deposits
NAB Reward Saver has a tiered interest structure, meaning you may receive a different rate for the entire balance depending on the tier your balance falls within. Interest rates shown above are for balances up to $49,999. View
5. Macquarie Group
Personal Banking Macquarie Personal Banking provides a diverse range of retail banking products to clients with home loans, car loans, transaction and savings accounts and credit cards. Serves clients through direct Macquarie offerings, strong intermediary relationships and a leading digital banking experience.
6. Bendigo and Adelaide Bank
Savings Accounts Whether you’re saving for a special purpose or seeking greater returns with at-call convenience, we have a savings account to suit.
PiggySaver
Designed for kids under 12. Fun and rewarding way to introduce them to saving.
Current interest rate 1.10%p.a. Calculated daily & paid monthly
No Monthly service fee
Free e-banking transactions Branch withdrawals
Extra features Free money box Birthday gifts for kids aged 4-10
EasySaver
Earn an attractive interest rate no matter how much you save or how much you transact.
Current interest rate 1.10%p.a. Calculated daily & paid monthly
Reward Saver
Be eligible for a bonus rate to help you save more and reach your goals sooner!
Base interest rate 0.05%p.a.
Bonus rate available On balances up to $100,000 and eligibility criteria has been met1
CommunitySaver
Designed to help you reach your savings goals whilst connecting you to a community minded organisation.
Current interest rate 1.10%p.a.
Calculated daily & paid monthly
No Monthly service fee
7. Suncorp Bank
Why choose a Suncorp Bank savings account or term deposit?
Save every month Grow your savings faster with monthly bonus interest. 2.00% p.a. 1 variable rate
Set aside savings flexiRates Reduce the temptation to spend by setting aside savings in your Everyday Options Account.
12 months 2.65% p.a. 2 fixed rate
Lock away savings Term Deposits Enjoy the certainty of traditional term savings. 18 months 3.00% p.a. 3
8. Bank of Queensland
Whether you’re saving for something special, saving for a rainy day or teaching a little one to save – here’s our best savings accounts to help you reach your goal.
Future Saver Account
Our high-interest saver accounts for 14 to 35 year olds, with easy-to-earn bonus interest and no monthly account keeping fees.
You can earn 3.00 %P.A. ^^ BONUS INTEREST VARIABLE RATE FOR BALANCES UP TO $50,000 IF BONUS CRITERIA MET*
Smart Saver Account
Our high-interest saver accounts for customers 36 years or older, with easy-to-earn bonus interest and no monthly account keeping fees.
Smart Saver Account You can earn 2.35 %P.A.^^ On deposit balances up to $250,000
Our high-interest saver accounts for customers 36 years or older, with easy-to-earn bonus interest and no monthly account keeping fees.
9. ING Bank (Australia) Limited
Compare our personal savings accounts Find the account that’s best for you. Every cent you deposit will earn you interest.
High variable interest rate. With competitive ongoing rates, all your money goes towards your savings goals.
Up to 2.60 variable rate (incl. 2.55% p.a. additional variable rate)
For customers who also have an Orange Everyday bank account and do these things each month:
Deposit $1,000+ from an external source to any personal ING account in their name (excluding Living Super, Personal Loans and Orange One)
Grow their nominated Savings Maximiser balance (excluding interest). When the criteria is met in a calendar month, the benefits the additional variable rate will apply in the next calendar month. Available on one account for balances up to $100,000.
The standard variable rate is 0.05% p.a.
10. HSBC Bank Australia
Saving just got more flexible and more rewarding with a Monthly Bonus rate. Enjoy the added convenience of opening an online savings account anywhere, anytime.
Rates & Fees: 1.25% p.a. interest rate including Monthly Bonus (variable) of 0.75% p.a.1
0.50% p.a. standard variable rate 1
Earn more with interest calculated daily and paid monthly
Open multiple accounts in multiple currencies
No minimum balance required. Bonus interest is paid only when the balance increases by $300 or more per month (not including interest payments)
HSBC Everyday Savings Account
The HSBC Everyday Savings Account is an online savings account with a great 3 month introductory variable interest rate and must be linked to your nominated transaction account to enable you to move money in and out.
Rates & Fees: 1.35% p.a. 3 Month Introductory Variable Rate2
0.75% p.a. Ongoing Variable Rate
Applies to balances up to $1 million only
Introductory offer will only be applied to the first HSBC Everyday Savings account opened with HSBC or if the previous HSBC Everyday Savings account was closed more than 12 months ago
