Best saving rates amongst Australian banks, RateCity reveals
Big four bank standard savings accounts
These accounts have no ongoing terms and conditions. They typically include an introductory period which offers bonus interest for several months, before dropping to a low ongoing rate.
Bank | Product Name | Base Rate | Intro Rate | Max Rate |
|
CBA | Net Bank Saver | 0.10% | 1.55% | 1.65% |
|
Westpac | eSaver | 0.10% | 1.56% | 1.66% |
|
NAB | iSaver | 0.11% | 1.44% | 1.55% |
|
ANZ | Online Saver | 0.10% | 1.50% | 1.60% |
|
Note: Max rate is the base and bonus added together
Big four bank conditional savings accounts
These accounts require you to meet certain terms and conditions, such as one deposit a month and no withdrawals, in order to qualify for the bonus interest that month.
Bank | Product | Base Rate | Bonus Rate | Max Rate |
| |
CBA | Goal Saver | 0.01% | 0.89% | 0.90% |
| |
Westpac | Life | 0.45% | 1.20% | 1.65% |
| |
NAB | Reward Saver | 0.11% | 1.39% | 1.50% |
| |
ANZ | Progress Saver | 0.01% | 1.59% | 1.60% |
|
Note: Note: Max rate is base and bonus added together
Rates based on balances less than $50,000. The Commonwealth Bank of Australia offers higher rates for larger deposits.
Highest ongoing savings rates on RateCity.com.au
Bank | Max rate | Conditions |
Xinja | 2.25% | Must have linked bank account |
Up | 2.25% | 4 card purchases from everyday acct |
86 400 | 2.25% | Deposit of $1000 in everyday acct |
BOQ | 2.15% | Deposit of $1000 in everyday acct |
UBank | 2.10% | Deposit of $250 in transaction acct |
Note: excludes kids savers and introductory rates.