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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 178 savings accounts from 69 banks

  • Savings account information on our site is updated daily

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

    • 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
    • HSBC Serious Saver
      • No monthly fees
      • No minimum deposit
      • Apply online in under 10 minutes
    • special rate

      3.30%(for $0 to $1,000,000)

      No withdrawals in the month. Bonus rate for first 4 months, reverting to 2.45% bonus rate after

    • standard interest rate

      0%(for $0 and over)

    • 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

      3.25%(for $0 and over)

      Bonus rate for the first 3 months

    • standard interest rate

      2.25%(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

      3.16%(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

        Trust

        1. Overall customer rating
        2. (Reviewed about 1 hour ago)

        Trustworthy. Don't like the monthly fees charged. I don't think fees should be charged if you don't meet their minimum weekly deposit, especially as I don't even earn that amount per week.  Full review 

        Trustworthy. Don't like the monthly fees charged. I don't think fees should be charged if you don't meet their minimum weekly deposit, especially as I don't even earn that amount per week.


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

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      • Commonwealth Bank

        Commonwealth Bank savings account review

        Not happy

        1. Overall customer rating
        2. (Reviewed about 1 hour ago)

        I have been a customer of the Commonwealth Bank for approximately 27 years. The first branch I was with closed my account when I was in rehabilitation, forcing me to go to another branch. They have taken money from me on a monthly basis all that t...  Full review 

        I have been a customer of the Commonwealth Bank for approximately 27 years. The first branch I was with closed my account when I was in rehabilitation, forcing me to go to another branch. They have taken money from me on a monthly basis all that time, yet when I am in need of an overdraft only twice have they helped me. I am not a happy customer and I am thinking of changing banks.


          1. Price
          1. Features
          1. Customer service
          1. Convenience
          1. Trust
        Less
        Commonwealth Bank savings account review by Evander

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      • NAB

        NAB savings account review

        Call backs to see if I am happy with my banking

        1. Overall customer rating
        2. (Reviewed about 2 hours ago)

        I have my savings account with the National Australia Bank. Prior to starting up my savings account I attended the NAB where I was treated with respect and the customer service I received was very genuine. I had a lot of questions to ask as I am s...  Full review 

        I have my savings account with the National Australia Bank. Prior to starting up my savings account I attended the NAB where I was treated with respect and the customer service I received was very genuine. I had a lot of questions to ask as I am saving for my first home and I felt that I could trust what I was being informed of but more importantly did not sense at all that I was being rushed or manipulated into making any decisions.I left the bank knowing that I was well informed and more so in a position where I felt empowered to make my own decisions. I definitely recommend the NAB over other existing banks as I really felt that my queries counted.


          1. Price
          1. Features
          1. Customer service
          1. Convenience
          1. Trust
        Less
        NAB Reward Saver savings account review by Tegan from Victoria

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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.