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Savings accounts

If you're after a high interest savings account you've come to the right place. Mozo compares the market to help you find the best account for your hard earned savings.

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  • We compare 176 savings accounts from 69 banks

  • Savings account information on our site is updated daily

  • More than 300,000 people use our site each month

    • ME Bank Online Savings Account
      • 1.35% bonus interest for the first 4 months when you link to an ME Bank EveryDay Transaction Account
      • No monthly account keeping fees
      • Debit MasterCard and no fees to access over 3,000 ATMs Australia-wide
    • special rate

      4.10%(for $0 to $250,000)

      Bonus rate for the first 4 months if you link to an ME Bank EveryDay Transaction Account within the first 14 days

    • standard interest rate

      2.75%(for $0 and over)

    • account fee per month
    • Go to site
    More info
    • ING DIRECT Savings Maximiser
      • No ING DIRECT fees
      • You could get a great variable rate every month, no matter how many times you withdraw
      • Anytime, anywhere banking with mobile app and 24/7 Australian call centre
    • special rate

      4.00%(for $0 to $100,000)

      p.a. for customers who also have an Orange Everyday bank account and deposit $1,000 each month from an external source.

    • standard interest rate

      2.75%(for $0 and over)

    • account fee per month
    • Go to site
    More info
    • Bankwest Hero Saver
      • No account keeping fees
      • No transaction fees
      • 100% secure application process
    • special rate

      4.00%(for $0 to $250,000)

      Minimum deposit of $200 and no withdrawals in the month

    • standard interest rate

      0.01%(for $0 to $5,000,000)

    • account fee per month
    • Go to site
    More info
    • ANZ Online Saver
      • Exclusive online bonus interest offer for 3 months. Limited time only.
      • No minimum balance
      • Interest calculated daily and paid monthly
    • special rate

      3.60%(for $0 and over)

      Bonus rate for the first 3 months

    • standard interest rate

      2.50%(for $0 and over)

    • account fee per month
    • Go to site
    More info
    • ANZ Progress Saver
      • Earn bonus interest when no withdrawals in the month
      • No monthly account fee
      • Receive 1 free ANZ withdrawal per month before additional withdrawal fees apply
    • special rate

      3.51%(for $0 and over)

      Minimum deposit of $10 and no withdrawals in the month

    • standard interest rate

      0.01%(for $0 and over)

    • account fee per month
    • Go to site
    More info
  • Savings account reviews

      • Commonwealth Bank

        Commonwealth Bank savings account review

        Friendly and great customer service

        1. Overall customer rating
        2. (Reviewed 7 days ago)

        Commonwealth Bank are easily accessible and the staff there are always smiling and ready to answer your questions.  Full review 

        Commonwealth Bank are easily accessible and the staff there are always smiling and ready to answer your questions.


          1. Price
          1. Features
          1. Customer service
          1. Convenience
          1. Trust
        Less
        Commonwealth Bank savings account review by Alison from Tasmania

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      • ANZ

        ANZ savings account review

        Flexible products and excellent service delivery

        1. Overall customer rating
        2. (Reviewed 7 days ago)

        I started using the ANZ Branch when I was 15 years old some 48 years ago. They have adequately accommodated my banking needs from then until now including term deposits, cheque, business and savings accounts, personal loans, term deposits, home lo...  Full review 

        I started using the ANZ Branch when I was 15 years old some 48 years ago. They have adequately accommodated my banking needs from then until now including term deposits, cheque, business and savings accounts, personal loans, term deposits, home loan etc. I spent 15 years employed overseas and the ANZ managed my salary and money transfers. They have proved flexible as my banking needs and personal circumstances changed throughout my life. I have been satisfied with ANZ products and service.


          1. Price
          1. Features
          1. Customer service
          1. Convenience
          1. Trust
        Less
        ANZ Variable Rate savings account review by Doug from Western Australia

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      • ING DIRECT

        ING DIRECT savings account review

        Cash back on ATM fees and 5% off every paywave

        1. Overall customer rating
        2. (Reviewed 7 days ago)

        They are amazing. I'm so happy I switched over to them AND I have gotten 3 more people to join with them so far.  Full review 

        They are amazing. I'm so happy I switched over to them AND I have gotten 3 more people to join with them so far.


          1. Price
          1. Features
          1. Customer service
          1. Convenience
          1. Trust
        Less
        ING DIRECT Savings Maximiser savings account review by Leah from New South Wales

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    • Savings account information

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

    • Making comparisons

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

      Popular savings accounts include:

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

    • Finding the right 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, high 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 an account that offers a good 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 banks advertise special introductory savings 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.

    • Savings 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 saving - information concerning accounts in our business banking section.

  • Savings account calculators

    Crunch numbers with our handy calculators.
  • Savings account guides

    Save effortlessly with our straightforward guides and catch the best savings rates, high interest accounts and more.

  • Community

    Keep up to date with the latest news or get your savings account questions answered by the money mavens on Mozo Answers.