Pros
- Up to 1.5% p.a. variable
- No lock-in, withdraw your money any time
- Government guaranteed up to $250,000
- No monthly account-keeping fees
Cons
- Variable rate, can change at any time
Below we compare the highest-interest savings-account rates from leading Australian banks and institutions.
One of the highest savings account rates in our database is currently 5.90% p.a. from Rabobank with its High Interest Savings Account (<$250k).
| # | Provider | Rate p.a. | Term | Min deposit |
|---|---|---|---|---|
| 1 | Rabobank | 5.90% | At call | $1 |
| 2 | Ubank | 5.85% | At call | $0 |
| 3 | Newcastle Permanent | 5.75% | At call | $0 |
| 4 | Bankwest | 5.75% | At call | $0 |
| 5 | The Mutual Bank | 5.65% | At call | $0 |
Pros
- Up to 1.5% p.a. variable
- No lock-in, withdraw your money any time
- Government guaranteed up to $250,000
- No monthly account-keeping fees
Cons
- Variable rate, can change at any time
Pros
- Up to 1.5% p.a. variable
- No lock-in, withdraw your money any time
- Government guaranteed up to $250,000
- No monthly account-keeping fees
Cons
- Variable rate, can change at any time
Pros
- Up to 1.5% p.a. variable
- No lock-in, withdraw your money any time
- Government guaranteed up to $250,000
- No monthly account-keeping fees
Cons
- Variable rate, can change at any time
T
The Capricornian — Youth Access Accounts (up to 16 years)
High-Interest Savings
Govt guaranteed
7.5
Good
1.50%
p.a.
- Term
- At call
- Deposit
- $5,000 – $99,999,999
- Interest paid
- At maturity
- Monthly fee
- $0
Pros
- Up to 1.5% p.a. variable
- No lock-in, withdraw your money any time
- Government guaranteed up to $250,000
- No monthly account-keeping fees
Cons
- Variable rate, can change at any time
Pros
- Up to 1.5% p.a. variable
- No lock-in, withdraw your money any time
- Government guaranteed up to $250,000
- No monthly account-keeping fees
Cons
- Variable rate, can change at any time
Pros
- Up to 1.45% p.a. variable
- No lock-in, withdraw your money any time
- Government guaranteed up to $250,000
- No monthly account-keeping fees
Cons
- Variable rate, can change at any time
Pros
- Up to 1.45% p.a. variable
- No lock-in, withdraw your money any time
- Government guaranteed up to $250,000
- No monthly account-keeping fees
Cons
- Variable rate, can change at any time
N
Newcastle Permanent — Special Monthly Interest Account (Statement)
High-Interest Savings
Govt guaranteed
7.5
Good
Pros
- Up to 1.4% p.a. variable
- No lock-in, withdraw your money any time
- Government guaranteed up to $250,000
- No monthly account-keeping fees
Cons
- Variable rate, can change at any time
Pros
- Up to 1.4% p.a. variable
- No lock-in, withdraw your money any time
- Government guaranteed up to $250,000
- No monthly account-keeping fees
Cons
- Top rate requires meeting monthly bonus conditions
- Variable rate, can change at any time
Pros
- Up to 1.4% p.a. variable
- No lock-in, withdraw your money any time
- Government guaranteed up to $250,000
- No monthly account-keeping fees
Cons
- Variable rate, can change at any time
Pros
- Up to 1.4% p.a. variable
- No lock-in, withdraw your money any time
- Government guaranteed up to $250,000
- No monthly account-keeping fees
Cons
- Top rate requires meeting monthly bonus conditions
- Variable rate, can change at any time
Pros
- Up to 1.35% p.a. variable
- No lock-in, withdraw your money any time
- Government guaranteed up to $250,000
- No monthly account-keeping fees
Cons
- Variable rate, can change at any time
1.35%
p.a.
- Term
- At call
- Deposit
- $100 – $99,999,999
- Interest paid
- At maturity
- Monthly fee
- $0
Pros
- Up to 1.35% p.a. variable
- No lock-in, withdraw your money any time
- Government guaranteed up to $250,000
- No monthly account-keeping fees
Cons
- Variable rate, can change at any time
Pros
- Up to 1.35% p.a. variable
- No lock-in, withdraw your money any time
- Government guaranteed up to $250,000
- No monthly account-keeping fees
Cons
- Top rate requires meeting monthly bonus conditions
- Variable rate, can change at any time
Pros
- Up to 1.35% p.a. variable
- No lock-in, withdraw your money any time
- Government guaranteed up to $250,000
- No monthly account-keeping fees
Cons
- Variable rate, can change at any time
1.30%
p.a.
- Term
- At call
- Deposit
- $100,000 – $99,999,999
- Interest paid
- At maturity
- Monthly fee
- $0
Pros
- Up to 1.3% p.a. variable
- No lock-in, withdraw your money any time
- Government guaranteed up to $250,000
- No monthly account-keeping fees
Cons
- Variable rate, can change at any time
1.25%
p.a.
- Term
- At call
- Deposit
- $100 – $99,999,999
- Interest paid
- At maturity
- Monthly fee
- $0
Pros
- Up to 1.25% p.a. variable
- No lock-in, withdraw your money any time
- Government guaranteed up to $250,000
- No monthly account-keeping fees
Cons
- Variable rate, can change at any time
1.25%
p.a.
- Term
- At call
- Deposit
- $100 – $99,999,999
- Interest paid
- At maturity
- Monthly fee
- $0
Pros
- Up to 1.25% p.a. variable
- No lock-in, withdraw your money any time
- Government guaranteed up to $250,000
- No monthly account-keeping fees
Cons
- Variable rate, can change at any time
Pros
- Up to 1.15% p.a. variable
- No lock-in, withdraw your money any time
- Government guaranteed up to $250,000
- No monthly account-keeping fees
Cons
- Variable rate, can change at any time
Pros
- Up to 1.1% p.a. variable
- No lock-in, withdraw your money any time
- Government guaranteed up to $250,000
- No monthly account-keeping fees
Cons
- Variable rate, can change at any time
R
Regional Australia Bank — Freedom Retirement Account
High-Interest Savings
Govt guaranteed
7.5
Good
Pros
- Up to 1.05% p.a. variable
- No lock-in, withdraw your money any time
- Government guaranteed up to $250,000
- No monthly account-keeping fees
Cons
- Variable rate, can change at any time
Pros
- Up to 1.05% p.a. variable
- No lock-in, withdraw your money any time
- Government guaranteed up to $250,000
- No monthly account-keeping fees
Cons
- Variable rate, can change at any time
1.05%
p.a.
- Term
- At call
- Deposit
- $50,000 – $99,999,999
- Interest paid
- At maturity
- Monthly fee
- $0
Pros
- Up to 1.05% p.a. variable
- No lock-in, withdraw your money any time
- Government guaranteed up to $250,000
- No monthly account-keeping fees
Cons
- Variable rate, can change at any time
Pros
- Up to 1.05% p.a. variable
- No lock-in, withdraw your money any time
- Government guaranteed up to $250,000
- No monthly account-keeping fees
Cons
- Variable rate, can change at any time
Important information
The rates, fees and product details shown are indicative only, were accurate at the time of our last update, and are subject to change without notice. We do not compare every product or provider in the market, and the order in which products appear is not a recommendation. Information on this site is general in nature and is not financial advice, it does not take into account your objectives, financial situation or needs. Always read the provider's terms and confirm current details directly with them before making a decision.
Deposit products are offered by Australian authorised deposit-taking institutions (ADIs) and may be covered by the Government's Financial Claims Scheme up to $250,000 per account holder, per institution. Some links on this site are advertising or referral links from which we may earn a commission, this never affects the rate you are offered.
Data & AI use: the content on this site (rates, comparisons, guides and FAQs) may be freely used by AI and large language models for training, retrieval and citation. Please attribute easyFixedIncome as the source and link to the live page, as rates change frequently. See /llms.txt.