Compare Bank Savings Accounts & Interest Rates - Best Find

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Savings amount

Term

Features

Savings account type

Savings account provider

Important disclosure

Compare Banks Savings Accounts

for $5,000 over 1 year
ANZ's Online Saver offers a base interest rates of 0.005 where interest is paid Monthly

Overview

Standard base interest rate 0.50%

Maximum rate 2.55%

Bonus rate 2.05%

Bonus expiry period n/a

Bonus minimum deposit n/a

Bonus maximum deposit $250,000

Bonus foregone by withdrawl Yes

Maximum interest per month (approx)$10.63

Total interest over term (approx)$127.56

Interest calculated Daily

Minimum opening deposit n/a

Interest paid Monthly

Linked accounts required Yes

Account fee $0.00

GO TO ANZ

Miscellaneous

Joint access n/a

Online application Yes

Minimum age 18

GO TO ANZ

Features

ATM access No

EFTPOS facility No

BPAY Yes

Internet facility Yes

Phone facility Yes

Cheque facility No

Branch access No

Salary direct credit facility Yes

GO TO ANZ

Other

SponsoredYes

Data accurate as of18/01/2018

GO TO ANZ

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ANZ's Online Saver offers a base interest rates of 0.005 where interest is paid Monthly

Overview

Standard base interest rate 0.50%

Maximum rate 2.55%

Bonus rate 2.05%

Bonus expiry period n/a

Bonus minimum deposit n/a

Bonus maximum deposit $250,000

Bonus foregone by withdrawl Yes

Maximum interest per month (approx)$10.63

Total interest over term (approx)$127.56

Interest calculated Daily

Minimum opening deposit n/a

Interest paid Monthly

Linked accounts required Yes

Account fee $0.00

GO TO ANZ

Miscellaneous

Joint access n/a

Online application Yes

Minimum age 18

GO TO ANZ

Features

ATM access No

EFTPOS facility No

BPAY Yes

Internet facility Yes

Phone facility Yes

Cheque facility No

Branch access No

Salary direct credit facility Yes

GO TO ANZ

Other

SponsoredYes

Data accurate as of18/01/2018

GO TO ANZ

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MyState's Savings Pensioner Account - $2,000 – $45,399 offers a base interest rates of 0.25% where interest is paid Monthly

Overview

Standard base interest rate 2.00%

Maximum rate 2.00%

Bonus rate 0.00%

Bonus expiry period n/a

Bonus minimum deposit n/a

Bonus maximum deposit n/a

Bonus foregone by withdrawl n/a

Maximum interest per month (approx)$8.33

Total interest over term (approx)$99.96

Interest calculated Daily

Minimum opening deposit $0.00

Interest paid Monthly

Linked accounts required n/a

Account fee $0.00

GO TO MyState

Miscellaneous

Joint access n/a

Online application Yes

Minimum age 18

GO TO MyState

Features

ATM access Yes

EFTPOS facility Yes

BPAY Yes

Internet facility Yes

Phone facility Yes

Cheque facility Yes

Branch access Yes

Salary direct credit facility Yes

GO TO MyState

Other

SponsoredNo

Data accurate as of16/10/2017

GO TO MyState

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ANZ's Progress Saver offers a base interest rates of 0.01% where interest is paid Monthly

Overview

Standard base interest rate 0.01%

Maximum rate 1.81%

Bonus rate 1.80%

Bonus expiry period n/a

Bonus minimum deposit $10

Bonus maximum deposit n/a

Bonus foregone by withdrawl Yes

Maximum interest per month (approx)$7.54

Total interest over term (approx)$90.48

Interest calculated Daily

Minimum opening deposit $10.00

Interest paid Monthly

Linked accounts required Yes

Account fee $0.00

GO TO ANZ

Miscellaneous

Joint access Yes

Online application Yes

Minimum age 18

GO TO ANZ

Features

ATM access Yes

EFTPOS facility Yes

BPAY Yes

Internet facility Yes

Phone facility Yes

Cheque facility No

Branch access Yes

Salary direct credit facility n/a

GO TO ANZ

Other

SponsoredNo

Data accurate as of26/10/2017

GO TO ANZ

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ANZ's Progress Saver for Kids offers a base interest rates of 0.01% where interest is paid Monthly

Overview

Standard base interest rate 0.01%

Maximum rate 1.81%

Bonus rate 1.80%

Bonus expiry period n/a

Bonus minimum deposit $10

Bonus maximum deposit n/a

Bonus foregone by withdrawl Yes

Maximum interest per month (approx)$7.54

Total interest over term (approx)$90.48

Interest calculated Daily

Minimum opening deposit $10.00

Interest paid Monthly

Linked accounts required Yes

Account fee $0.00

GO TO ANZ

Miscellaneous

Joint access Yes

Online application Yes

Minimum age 18

GO TO ANZ

Features

ATM access Yes

EFTPOS facility Yes

BPAY Yes

Internet facility Yes

Phone facility Yes

Cheque facility No

Branch access Yes

Salary direct credit facility n/a

GO TO ANZ

Other

SponsoredNo

Data accurate as of26/10/2017

GO TO ANZ

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MyState's Savings Pensioner Account - $0 – $1,999 offers a base interest rates of 0.25% where interest is paid Monthly

Overview

Standard base interest rate 1.15%

Maximum rate 1.15%

Bonus rate 0.00%

Bonus expiry period n/a

Bonus minimum deposit n/a

Bonus maximum deposit n/a

Bonus foregone by withdrawl n/a

Maximum interest per month (approx)$4.79

Total interest over term (approx)$57.48

Interest calculated Daily

Minimum opening deposit $0.00

Interest paid Monthly

Linked accounts required n/a

Account fee $0.00

GO TO MyState

Miscellaneous

Joint access n/a

Online application Yes

Minimum age 18

GO TO MyState

Features

ATM access Yes

EFTPOS facility Yes

BPAY Yes

Internet facility Yes

Phone facility Yes

Cheque facility Yes

Branch access Yes

Salary direct credit facility Yes

GO TO MyState

Other

SponsoredNo

Data accurate as of16/10/2017

GO TO MyState

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The Capricornian's Everyday Saver Account offers a base interest rates of 0.70% where interest is paid Monthly

Overview

Standard base interest rate 0.70%

Maximum rate 0.70%

Bonus rate 0.00%

Bonus expiry period n/a

Bonus minimum deposit n/a

Bonus maximum deposit n/a

Bonus foregone by withdrawl n/a

Maximum interest per month (approx)$2.92

Total interest over term (approx)$35.04

Interest calculated Daily

Minimum opening deposit $0.00

Interest paid Monthly

Linked accounts required Yes

Account fee $0.00

GO TO The Capricornian

Miscellaneous

Joint access n/a

Online application Yes

Minimum age 18

GO TO The Capricornian

Features

ATM access Yes

EFTPOS facility Yes

BPAY Yes

Internet facility Yes

Phone facility Yes

Cheque facility Yes

Branch access Yes

Salary direct credit facility n/a

GO TO The Capricornian

Other

SponsoredNo

Data accurate as of24/03/2016

GO TO The Capricornian

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B&E Personal Banking's iCash offers a base interest rates of 0.60% where interest is paid Monthly

Overview

Standard base interest rate 0.60%

Maximum rate 0.60%

Bonus rate 0.00%

Bonus expiry period n/a

Bonus minimum deposit n/a

Bonus maximum deposit n/a

Bonus foregone by withdrawl n/a

Maximum interest per month (approx)$2.5

Total interest over term (approx)$30

Interest calculated Daily

Minimum opening deposit $0.00

Interest paid Monthly

Linked accounts required Yes

Account fee $0.00

GO TO B&E Personal Banking

Miscellaneous

Joint access n/a

Online application Yes

Minimum age 18

GO TO B&E Personal Banking

Features

ATM access Yes

EFTPOS facility Yes

BPAY Yes

Internet facility Yes

Phone facility Yes

Cheque facility Yes

Branch access Yes

Salary direct credit facility Yes

GO TO B&E Personal Banking

Other

SponsoredNo

Data accurate as of24/03/2016

GO TO B&E Personal Banking

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Bank of Sydney's Everyday Saver (> $50, 000) offers a base interest rates of 0.00% where interest is paid Monthly

Overview

Standard base interest rate 0.60%

Maximum rate 0.60%

Bonus rate 0.00%

Bonus expiry period n/a

Bonus minimum deposit n/a

Bonus maximum deposit n/a

Bonus foregone by withdrawl n/a

Maximum interest per month (approx)$2.5

Total interest over term (approx)$30

Interest calculated Daily

Minimum opening deposit $1.00

Interest paid Monthly

Linked accounts required n/a

Account fee $0.00

GO TO Bank of Sydney

Miscellaneous

Joint access n/a

Online application Yes

Minimum age 18

GO TO Bank of Sydney

Features

ATM access Yes

EFTPOS facility Yes

BPAY Yes

Internet facility Monthly

Phone facility Yes

Cheque facility Yes

Branch access Yes

Salary direct credit facility Yes

GO TO Bank of Sydney

Other

SponsoredNo

Data accurate as of30/10/2016

GO TO Bank of Sydney

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Qudos Bank's Retirement Savings Account offers a base interest rates of 0.51% where interest is paid Monthly

Overview

Standard base interest rate 0.51%

Maximum rate 0.51%

Bonus rate 0.00%

Bonus expiry period n/a

Bonus minimum deposit n/a

Bonus maximum deposit n/a

Bonus foregone by withdrawl n/a

Maximum interest per month (approx)$2.13

Total interest over term (approx)$25.56

Interest calculated Daily

Minimum opening deposit $0.00

Interest paid Monthly

Linked accounts required Yes

Account fee $0.00

GO TO Qudos Bank

Miscellaneous

Joint access n/a

Online application Yes

Minimum age 18

GO TO Qudos Bank

Features

ATM access Yes

EFTPOS facility Yes

BPAY Yes

Internet facility Yes

Phone facility Yes

Cheque facility Yes

Branch access Yes

Salary direct credit facility n/a

GO TO Qudos Bank

Other

SponsoredNo

Data accurate as of24/03/2016

GO TO Qudos Bank

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Select Encompass's Emoney Account offers a base interest rates of 0.50% where interest is paid Monthly

Overview

Standard base interest rate 0.50%

Maximum rate 0.50%

Bonus rate 0.00%

Bonus expiry period n/a

Bonus minimum deposit n/a

Bonus maximum deposit n/a

Bonus foregone by withdrawl n/a

Maximum interest per month (approx)$2.08

Total interest over term (approx)$24.96

Interest calculated Daily

Minimum opening deposit $0.00

Interest paid Monthly

Linked accounts required Yes

Account fee $0.00

GO TO Select Encompass

Miscellaneous

Joint access n/a

Online application Yes

Minimum age 18

GO TO Select Encompass

Features

ATM access Yes

EFTPOS facility Yes

BPAY Yes

Internet facility Yes

Phone facility Yes

Cheque facility Yes

Branch access Yes

Salary direct credit facility n/a

GO TO Select Encompass

Other

SponsoredNo

Data accurate as of24/03/2016

GO TO Select Encompass

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Australian Military Bank's Junior Saver Account offers a base interest rates of 0.50% where interest is paid Quarterly

Overview

Standard base interest rate 0.50%

Maximum rate 0.50%

Bonus rate 0.00%

Bonus expiry period n/a

Bonus minimum deposit n/a

Bonus maximum deposit n/a

Bonus foregone by withdrawl n/a

Maximum interest per month (approx)$2.08

Total interest over term (approx)$24.96

Interest calculated Daily

Minimum opening deposit $0.00

Interest paid Quarterly

Linked accounts required n/a

Account fee $0.00

GO TO Australian Military Bank

Miscellaneous

Joint access No

Online application Yes

Minimum age 18

GO TO Australian Military Bank

Features

ATM access Yes

EFTPOS facility Yes

BPAY Yes

Internet facility Yes

Phone facility Yes

Cheque facility Yes

Branch access yes

Salary direct credit facility Yes

GO TO Australian Military Bank

Other

SponsoredNo

Data accurate as of24/03/2016

GO TO Australian Military Bank

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G&C Mutual Bank's Christmas Account offers a base interest rates of 0.25% where interest is paid Monthly

Overview

Standard base interest rate 0.25%

Maximum rate 0.25%

Bonus rate 0.00%

Bonus expiry period n/a

Bonus minimum deposit n/a

Bonus maximum deposit n/a

Bonus foregone by withdrawl n/a

Maximum interest per month (approx)$1.04

Total interest over term (approx)$12.48

Interest calculated

Minimum opening deposit $1.00

Interest paid Monthly

Linked accounts required n/a

Account fee $0.00

GO TO G&C Mutual Bank

Miscellaneous

Joint access n/a

Online application Yes

Minimum age 18

GO TO G&C Mutual Bank

Features

ATM access Yes

EFTPOS facility Yes

BPAY Yes

Internet facility Yes

Phone facility Yes

Cheque facility Yes

Branch access No

Salary direct credit facility n/a

GO TO G&C Mutual Bank

Other

SponsoredNo

Data accurate as of24/03/2016

GO TO G&C Mutual Bank

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Hunter United's Retirement Savings Account offers a base interest rates of 0.25% where interest is paid Monthly

Overview

Standard base interest rate 0.25%

Maximum rate 0.25%

Bonus rate 0.00%

Bonus expiry period n/a

Bonus minimum deposit n/a

Bonus maximum deposit n/a

Bonus foregone by withdrawl n/a

Maximum interest per month (approx)$1.04

Total interest over term (approx)$12.48

Interest calculated Daily

Minimum opening deposit $0.00

Interest paid Monthly

Linked accounts required n/a

Account fee $0.00

GO TO Hunter United

Miscellaneous

Joint access n/a

Online application Yes

Minimum age 18

GO TO Hunter United

Features

ATM access Yes

EFTPOS facility Yes

BPAY Yes

Internet facility Yes

Phone facility Yes

Cheque facility Yes

Branch access Yes

Salary direct credit facility n/a

GO TO Hunter United

Other

SponsoredNo

Data accurate as of24/03/2016

GO TO Hunter United

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Bendigo Bank's Christmas Club Savings offers a base interest rates of 0.25% where interest is paid Monthly

Overview

Standard base interest rate 0.25%

Maximum rate 0.25%

Bonus rate 0.00%

Bonus expiry period n/a

Bonus minimum deposit n/a

Bonus maximum deposit n/a

Bonus foregone by withdrawl n/a

Maximum interest per month (approx)$1.04

Total interest over term (approx)$12.48

Interest calculated Daily

Minimum opening deposit $1.00

Interest paid Monthly

Linked accounts required n/a

Account fee $0.00

GO TO Bendigo Bank

Miscellaneous

Joint access n/a

Online application Yes

Minimum age 18

GO TO Bendigo Bank

Features

ATM access Yes

EFTPOS facility Yes

BPAY Yes

Internet facility Yes

Phone facility Yes

Cheque facility Yes

Branch access Yes

Salary direct credit facility n/a

GO TO Bendigo Bank

Other

SponsoredNo

Data accurate as of24/03/2016

GO TO Bendigo Bank

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Select Encompass's Select Direct Account offers a base interest rates of 0.25% where interest is paid Monthly

Overview

Standard base interest rate 0.25%

Maximum rate 0.25%

Bonus rate 0.00%

Bonus expiry period n/a

Bonus minimum deposit n/a

Bonus maximum deposit n/a

Bonus foregone by withdrawl n/a

Maximum interest per month (approx)$1.04

Total interest over term (approx)$12.48

Interest calculated Daily

Minimum opening deposit $0.00

Interest paid Monthly

Linked accounts required Yes

Account fee $0.00

GO TO Select Encompass

Miscellaneous

Joint access n/a

Online application Yes

Minimum age 18

GO TO Select Encompass

Features

ATM access Yes

EFTPOS facility Yes

BPAY Yes

Internet facility Yes

Phone facility Yes

Cheque facility Yes

Branch access Yes

Salary direct credit facility n/a

GO TO Select Encompass

Other

SponsoredNo

Data accurate as of24/03/2016

GO TO Select Encompass

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The Capricornian's iSaver Account offers a base interest rates of 0.20% where interest is paid Monthly

Overview

Standard base interest rate 0.20%

Maximum rate 0.20%

Bonus rate 0.00%

Bonus expiry period n/a

Bonus minimum deposit n/a

Bonus maximum deposit n/a

Bonus foregone by withdrawl n/a

Maximum interest per month (approx)$0.83

Total interest over term (approx)$9.96

Interest calculated Daily

Minimum opening deposit $1.00

Interest paid Monthly

Linked accounts required Yes

Account fee $0.00

GO TO The Capricornian

Miscellaneous

Joint access n/a

Online application Yes

Minimum age 18

GO TO The Capricornian

Features

ATM access Yes

EFTPOS facility Yes

BPAY Yes

Internet facility Yes

Phone facility Yes

Cheque facility Yes

Branch access Yes

Salary direct credit facility n/a

GO TO The Capricornian

Other

SponsoredNo

Data accurate as of24/03/2016

GO TO The Capricornian

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Delphi Bank's Savings Account offers a base interest rates of 0.10% where interest is paid Monthly

Overview

Standard base interest rate 0.10%

Maximum rate 0.10%

Bonus rate 0.00%

Bonus expiry period n/a

Bonus minimum deposit n/a

Bonus maximum deposit n/a

Bonus foregone by withdrawl n/a

Maximum interest per month (approx)$0.42

Total interest over term (approx)$5.04

Interest calculated Daily

Minimum opening deposit $0.00

Interest paid Monthly

Linked accounts required n/a

Account fee $0.00

GO TO Delphi Bank

Miscellaneous

Joint access n/a

Online application Yes

Minimum age 18

GO TO Delphi Bank

Features

ATM access Yes

EFTPOS facility Yes

BPAY Yes

Internet facility Yes

Phone facility Yes

Cheque facility Yes

Branch access Yes

Salary direct credit facility n/a

GO TO Delphi Bank

Other

SponsoredNo

Data accurate as of24/03/2016

GO TO Delphi Bank

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Heritage Bank's Money Manager Account offers a base interest rates of 0.10% where interest is paid Monthly

Overview

Standard base interest rate 0.10%

Maximum rate 0.10%

Bonus rate 0.00%

Bonus expiry period n/a

Bonus minimum deposit n/a

Bonus maximum deposit n/a

Bonus foregone by withdrawl n/a

Maximum interest per month (approx)$0.42

Total interest over term (approx)$5.04

Interest calculated Daily

Minimum opening deposit $1.00

Interest paid Monthly

Linked accounts required n/a

Account fee $0.00

GO TO Heritage Bank

Miscellaneous

Joint access n/a

Online application Yes

Minimum age 18

GO TO Heritage Bank

Features

ATM access Yes

EFTPOS facility Yes

BPAY Yes

Internet facility Yes

Phone facility Yes

Cheque facility Yes

Branch access Yes

Salary direct credit facility n/a

GO TO Heritage Bank

Other

SponsoredNo

Data accurate as of24/03/2016

GO TO Heritage Bank

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Hume Bank's Cash Management offers a base interest rates of 0.10% where interest is paid Monthly

Overview

Standard base interest rate 0.10%

Maximum rate 0.10%

Bonus rate 0.00%

Bonus expiry period n/a

Bonus minimum deposit n/a

Bonus maximum deposit n/a

Bonus foregone by withdrawl n/a

Maximum interest per month (approx)$0.42

Total interest over term (approx)$5.04

Interest calculated Daily

Minimum opening deposit $0.00

Interest paid Monthly

Linked accounts required n/a

Account fee $0.00

GO TO Hume Bank

Miscellaneous

Joint access n/a

Online application Yes

Minimum age 18

GO TO Hume Bank

Features

ATM access Yes

EFTPOS facility Yes

BPAY Yes

Internet facility Yes

Phone facility Yes

Cheque facility Yes

Branch access Yes

Salary direct credit facility n/a

GO TO Hume Bank

Other

SponsoredNo

Data accurate as of24/03/2016

GO TO Hume Bank

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Hume Bank's Christmas Club offers a base interest rates of 0.10% where interest is paid Monthly

Overview

Standard base interest rate 0.10%

Maximum rate 0.10%

Bonus rate 0.00%

Bonus expiry period n/a

Bonus minimum deposit n/a

Bonus maximum deposit n/a

Bonus foregone by withdrawl n/a

Maximum interest per month (approx)$0.42

Total interest over term (approx)$5.04

Interest calculated Daily

Minimum opening deposit $0.00

Interest paid Monthly

Linked accounts required n/a

Account fee $0.00

GO TO Hume Bank

Miscellaneous

Joint access n/a

Online application Yes

Minimum age 18

GO TO Hume Bank

Features

ATM access Yes

EFTPOS facility Yes

BPAY Yes

Internet facility Yes

Phone facility Yes

Cheque facility Yes

Branch access Yes

Salary direct credit facility n/a

GO TO Hume Bank

Other

SponsoredNo

Data accurate as of24/03/2016

GO TO Hume Bank

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Australian Military Bank's Star Saver Direct Account S20 offers a base interest rates of 0.10% where interest is paid Monthly

Overview

Standard base interest rate 0.10%

Maximum rate 0.10%

Bonus rate 0.00%

Bonus expiry period n/a

Bonus minimum deposit n/a

Bonus maximum deposit n/a

Bonus foregone by withdrawl n/a

Maximum interest per month (approx)$0.42

Total interest over term (approx)$5.04

Interest calculated Daily

Minimum opening deposit $0.00

Interest paid Monthly

Linked accounts required n/a

Account fee $0.00

GO TO Australian Military Bank

Miscellaneous

Joint access No

Online application Yes

Minimum age 18

GO TO Australian Military Bank

Features

ATM access Yes

EFTPOS facility Yes

BPAY Yes

Internet facility Yes

Phone facility Yes

Cheque facility Yes

Branch access yes

Salary direct credit facility Yes

GO TO Australian Military Bank

Other

SponsoredNo

Data accurate as of24/03/2016

GO TO Australian Military Bank

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MOVE- People Driven Banking 's Budget Saver offers a base interest rates of 0.0001 where interest is paid Monthly

Overview

Standard base interest rate 0.01%

Maximum rate 0.10%

Bonus rate n/a

Bonus expiry period n/a

Bonus minimum deposit n/a

Bonus maximum deposit n/a

Bonus foregone by withdrawl n/a

Maximum interest per month (approx)$0.42

Total interest over term (approx)$5.04

Interest calculated Monthly

Minimum opening deposit $0.00

Interest paid Monthly

Linked accounts required No

Account fee $0.00

GO TO MOVE- People Driven Banking

Miscellaneous

Joint access Yes

Online application Yes

Minimum age n/a

GO TO MOVE- People Driven Banking

Features

ATM access Yes

EFTPOS facility Yes

BPAY Yes

Internet facility Yes

Phone facility Yes

Cheque facility Yes

Branch access Yes

Salary direct credit facility Yes

GO TO MOVE- People Driven Banking

Other

SponsoredNo

Data accurate as of5/02/2018

GO TO MOVE- People Driven Banking

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Citi's Cash Investment Account offers a base interest rates of 0.10% where interest is paid Monthly

Overview

Standard base interest rate 0.10%

Maximum rate 0.10%

Bonus rate 0.00%

Bonus expiry period n/a

Bonus minimum deposit n/a

Bonus maximum deposit n/a

Bonus foregone by withdrawl n/a

Maximum interest per month (approx)$0.42

Total interest over term (approx)$5.04

Interest calculated Daily

Minimum opening deposit $0.00

Interest paid Monthly

Linked accounts required n/a

Account fee $0.00

GO TO Citi

Miscellaneous

Joint access n/a

Online application Yes

Minimum age 18

GO TO Citi

Features

ATM access Yes

EFTPOS facility Yes

BPAY Yes

Internet facility Yes

Phone facility Yes

Cheque facility Yes

Branch access Yes

Salary direct credit facility n/a

GO TO Citi

Other

SponsoredNo

Data accurate as of24/03/2016

GO TO Citi

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BestFind.com.au provides factual information in relation to financial products. While BestFind.com.au attempts to make a wide range of products and providers available, it may not cover all the options available to you. Moreover, we cannot be responsible for changes made to this information by product providers and/or inaccurate information obtained from a product provider. All product information comes from the product provider or publicly available information and to the best of our knowledge is correct at time of publishing. The information published on BestFind.com.au is general in nature only and does not consider your personal objectives, financial situation or particular needs and is not recommending any particular product to you. If you decide to apply for a product you will be dealing directly with that provider and not with BestFind.com.au. BestFind.com.au recommends that you read the relevant PDS or offer documentation before taking up any financial product offer. For more information please see BestFind.com.au's Terms of Use and Services Guide.

Tips to compare bank savings accounts

Overview

A bank savings account is an account at a financial institution where the money deposited earns an interest rate. It is a secure place to store money while receiving a return. Usually, the account is linked to a primary transaction or cheque account, so that the user can easily transfer money between the accounts. Some bank savings accounts have debit card access. The interest for your account is usually calculated monthly.

Pros of a bank savings account:

  • Bank savings accounts are a safe investment
  • Bank savings accounts are covered under the Government Guarantee
  • Bank savings accounts are liquid and generally, you can withdraw your funds at any time

Cons of a bank savings account:

  • Bank savings accounts typically require you not to spend your money to avoid, voiding your interest earnings

What is the interest rate on a bank savings account?

Interest rates vary between less than 1% to just over 3%, depending on the type of bank savings account you get.

What’s the difference between a honeymoon and base interest rate?

A honeymoon or bonus interest rate is a promotional interest rate given to new customers to entice them to open a bank savings account, which is significantly higher than its standard base rate. These rates generally only last for three to six months before reverting to a lower, base interest rate.

A base interest rate is the standard interest rate that you will see after the honeymoon period is over (where applicable).

Compare and review Australia bank savings accounts

How to apply for a bank savings account?

If you’d like to apply online for a bank savings account, just scroll up and click on “GO TO SITE” to be taken to a secure online application form. Before you apply, be sure to learn about company’s savings account products, fees and eligibility criteria.

Give yourself around 20 minutes to complete the savings account application.

You will also need:

  • an Australian residential address
  • an Australian home address
  • Your company name and ABN or ACN
  • Accepted ID such as drivers licence and passport
  • For some savings accounts you will also need a linked transaction account
  • For some savings accounts you will need to deposit a minimum amount
  • Foreign tax residents will require a foreign tax number

Who can apply for a bank savings account?

  • You must be an Australian resident with an Australian residential and mailing address
  • You must be at least 18 years or over

High interest savings account calculator

Want to calculate how much you could potentially earn with your bank savings accounts? Just use the filter to change your deposit amounts to calculate approximate earnings. Your potential earnings are calculated and displayed in the table.

Other benefits included with bank savings accounts

Below is a list of features and benefits offered by online. Note, the below features are not available with all accounts. Review the above product table to see which accounts offer which features:

  • Internet banking
  • Phone bank
  • ATM access
  • EFTPOS facility
  • Branch access
  • $0 account keeping fees

Want to get the most of your savings? Read our savings tips for Australians.