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    Savings account reviews

      • RaboDirect High interest savings

        Another savings account offer

        ANZ Online Saver

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        RaboDirect savings account review

          1. Overall customer rating
          2. (Reviewed 2 days ago)

        It took over 2 weeks of trying & arguing with staff at Rabo to open an account before giving up. All the forms were correct, no problem there. I wanted one account, they opened 2 & refused to close the 2nd (unwanted) one. The $1 transfer to prove ...       Full review 

        It took over 2 weeks of trying & arguing with staff at Rabo to open an account before giving up. All the forms were correct, no problem there. I wanted one account, they opened 2 & refused to close the 2nd (unwanted) one. The $1 transfer to prove the initial account (CBA) existed took 3 shots over 2 weeks. 4 calls to support to try to get it sorted was were a waste of time. One email from them was so cryptic their support manager couldn't follow it. When I finally convinced them I'd had enough & to close it, they approved it immediately so my larger tranfer went through - with the claim they couldn't stop it. It took another week to get it back. I would NOT recommend this bank to anyone.


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        RaboDirect savings account review by Paul from New South Wales

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      • Suncorp eOptions

        Suncorp Cash Management Account

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        Suncorp savings account review

          1. Overall customer rating
          2. (Reviewed 2 days ago)

        Their flexirates product is the first of its kind that I am aware of in Australia. It was also very competitive for its time. The online banking interface is the best I have used and very intuitive. It's a shame that their online high inte...       Full review 

        Their flexirates product is the first of its kind that I am aware of in Australia. It was also very competitive for its time. The online banking interface is the best I have used and very intuitive. It's a shame that their online high interest savings account is only periodically worth taking advantage of but their $50 'treat' offer reeled me back in for some time


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        Suncorp savings account review by David from New South Wales

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      • ME Bank Online Savings Account

        Another savings account offer

        ANZ Online Saver

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        ME Bank savings account review

          1. Overall customer rating
          2. (Reviewed 2 days ago)

        Years ago ME Bank drew in customers with its high interest savings accounts but is no longer a serious player in that market. A recent change in their online banking interface has locked me out completely. And even though I rang to cancel my accou...       Full review 

        Years ago ME Bank drew in customers with its high interest savings accounts but is no longer a serious player in that market. A recent change in their online banking interface has locked me out completely. And even though I rang to cancel my account they continue to send me paper statements in the mail - no wonder they can't afford to compete!


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        ME Bank savings account review by David from New South Wales

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    Savings account information

    Choosing the right home for your savings is more important than ever now that interest rates are increasing. Mozo is here to help you find the best savings deals. Our database has the latest interest rates and fees and covers all the main financial institutions, including BankWest savings accounts, ING savings accounts and more.

    You can also read savings account reviews from real customers around Australia to get the inside story on everything from convenience to customer service.

    Savings account comparison

    Whether you’re looking for online savings accounts, cash management accounts or simply the best savings rate on the market, our nifty comparison tools let you quickly filter and compare savings accounts according to the features you want.

    Popular savings accounts include:
    Kids accounts
    Bank savings accounts
    High interest savings accounts

    You can shortlist accounts and compare your selection side-by-side to pick a winner.

    Finding the right savings account

    Before you compare savings accounts, it helps to think about whether you want instant access to your funds, how often you intend to make withdrawals and how much money you will keep in your account month to month.

    Some accounts offer bonus interest rates if you meet certain conditions, like maintaining a minimum monthly balance or not making any withdrawals. If these sorts of conditions sound too restrictive for your needs, look for a savings account that offers a good interest rate without strings attached.

    Work out a savings goal and think about setting up an automatic deduction from your bank account each month to go towards your savings. If you need help in figuring out how much you can save and how long it will take you, try Mozo’s savings calculator. It will instantly show you what your balance will be and how long it will take to achieve your savings goal.

    Savings interest rates

    These days many savings accounts advertise special introductory interest rates, but when you compare savings accounts be sure to check the regular interest rate that applies once the introductory rate expires.

    Some accounts can tempt unwary savers with sky-high introductory rates but leave your savings languishing on a low rate once the introductory offer expires.

    More information on intro rate savings accounts.

    Account features

    Not all accounts offer instant access to your cash. When comparing savings accounts, think about how and when you will want to make withdrawals or transfers.

    Mozo lets you filter and compare savings accounts according to the type of features you want, including ATM and EFTPOS access, debit cards and internet banking.

    This page is all about personal savings accounts - business savings accounts are in our business banking section.

    5

    Highest interest rate

    based on special interest rate on a $5,000 balance

    Highest rated savings accounts- as voted by the Mozo Community (rating out of 10)

    • 9.1

      Greater Building Society savings accounts

      Overall rating: 9.1 (70 reviews)

      Last reviewed: 28 January 2012


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    • 8.9

      ING DIRECT savings accounts

      Overall rating: 8.9 (349 reviews)

      Last reviewed: 29 January 2012


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    • 8.5

      Heritage Bank savings accounts

      Overall rating: 8.5 (83 reviews)

      Last reviewed: 18 January 2012


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    • 8.5

      Newcastle Permanent savings accounts

      Overall rating: 8.5 (57 reviews)

      Last reviewed: 30 January 2012


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    • 8.5

      UBank savings accounts

      Overall rating: 8.5 (142 reviews)

      Last reviewed: 26 January 2012


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