Pros
- Up to 4.75% 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 4.75% 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
- Needs $50/month deposit to earn the bonus rate
Pros
- Up to 4.75% 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 4.75% 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
- Needs $100/month deposit to earn the bonus rate
Pros
- Up to 4.75% 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
B
Bendigo Bank — Bendigo Reward Saver over 30 years old
High-Interest Savings
Govt guaranteed
9.2
Excellent
Pros
- Up to 4.75% 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
- Needs $0/month deposit to earn the bonus rate
Pros
- Up to 4.75% 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
4.75%
p.a.
- Term
- At call
- Deposit
- $50,000 – $249,999
- Interest paid
- At maturity
- Monthly fee
- $0
Pros
- Up to 4.75% 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
- Needs $10/month deposit to earn the bonus rate
Pros
- Up to 4.7% 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 4.7% 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
4.70%
p.a.
- Term
- At call
- Deposit
- $50,000 – $499,999
- Interest paid
- At maturity
- Monthly fee
- $0
Pros
- Up to 4.7% 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 4.65% 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
- Needs $50/month deposit to earn the bonus rate
M
Macquarie Bank — Macquarie Cash Management Accelerator Account
High-Interest Savings
Govt guaranteed
9.2
Excellent
4.65%
p.a.
- Term
- At call
- Deposit
- $100 – $99,999,999
- Interest paid
- At maturity
- Monthly fee
- $0
Pros
- Up to 4.65% 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 4.6% 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
- Needs $100/month deposit to earn the bonus rate
Pros
- Up to 4.6% 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
H
Heartland Bank — MySavings Account ($300,000 to $2,000,000)
High-Interest Savings
Govt guaranteed
9.1
Excellent
4.55%
p.a.
- Term
- At call
- Deposit
- $250,000 – $99,999,999
- Interest paid
- At maturity
- Monthly fee
- $0
Pros
- Up to 4.55% 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 4.55% 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 4.55% 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
- Needs $100/month deposit to earn the bonus rate
H
Heartland Bank — MySavings Account ($0 to $300,000)
High-Interest Savings
Govt guaranteed
9.1
Excellent
Pros
- Up to 4.55% 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 4.5% 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 4.5% 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
- Needs $10/month deposit to earn the bonus rate
Pros
- Up to 4.5% 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 4.5% 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
4.50%
p.a.
- Term
- At call
- Deposit
- $100,000 – $249,999
- Interest paid
- At maturity
- Monthly fee
- $0
Pros
- Up to 4.5% 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
4.45%
p.a.
- Term
- At call
- Deposit
- $500,000 – $99,999,999
- Interest paid
- At maturity
- Monthly fee
- $0
Pros
- Up to 4.45% 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
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.