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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.

  • We compare 174 savings accounts from 69 banks

  • Savings account information on our site is updated daily

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

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HSBC

HSBC Serious Saver

  • 4.00% p.a. for 4 months. Conditions apply
  • No monthly account fee
  • Apply online in minutes
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    • ING DIRECT Savings Maximiser
      • No ING DIRECT fees
      • A variable Loyalty Bonus after your Welcome Rate
      • No fixed term or minimum balances
    • special rate

      4.35%(for $0 to $250,000)

      p.a variable for 4 months from account opening, for new customers on balances up to $250,000.

    • standard interest rate

      2.75%(for $0 and over)

    • account fee per month
    • Go to site
    More info
    • ME Bank Online Savings Account with Everyday Transaction Account
      • No account keeping fee
      • No minimum deposit
      • No interest rate penalties for withdrawals
    • special rate

      4.60%(for $0 to $250,000)

      Bonus rate for 5 months on balances up to $250,000 if linked to Everyday Transaction Account

    • standard interest rate

      2.90%(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

      4.00%(for $0 to $1,000,000)

      No withdrawals in the month. Bonus rate for first 4 months, reverting to 2.90% after

    • standard interest rate

      0.00%(for $0 and over)

    • account fee per month
    • Go to site
    More info
    • Bankwest TeleNet Saver
      • 6 month variable intro rate for new customers
      • No minimum monthly deposit
      • No fees
    • special rate

      4.30%(for $0 to $5,000,000)

      bonus rate for 6 months

    • standard interest rate

      2.70%(for $0 and over)

    • account fee per month
    • Go to site
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    More info
    • ANZ Online Saver
      • Exclusive online offer 1.40% p.a. bonus interest for 4 months. Limited time only.
      • No minimum balance
      • Interest calculated daily and paid monthly
    • special rate

      3.90%(for $0 and over)

      Bonus rate for 4 months

    • standard interest rate

      2.50%(for $0 and over)

    • account fee per month
    • Go to site
    More info
    • ANZ Progress Saver
      • Earn up to 3.81% bonus interest when no withdrawals are made
      • No monthly account fee
      • Receive 1 free ANZ withdrawal per month before additional withdrawal fees apply
    • special rate

      3.81%(for $0 and over)

      minimum deposit $10, no withdrawals

    • standard interest rate

      0.01%(for $0 and over)

    • account fee per month
    • Go to site
    More info
    • HSBC Flexi Saver
      • Receive an extra 1.00% p.a. variable monthly bonus. Conditions apply
      • No monthly account fee
      • Open multiple accounts
    • special rate

      3.50%(for $0 to $5,000,000)

      Increase balance by at least $300 in the month

    • standard interest rate

      2.50%(for $0 to $5,000,000)

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

      • Suncorp savings account review

        Mind Who You Bank With They May Make A Big Mistake

        1. Overall customer rating
        2. (Reviewed 3 days ago)

        My 90 year old mother and I have banked with Suncorp metway bank for many years until last year when we started to find that the Suncorp bank which we were going to started mucking up many small details regarding our banking over about a six month...  Full review 

        My 90 year old mother and I have banked with Suncorp metway bank for many years until last year when we started to find that the Suncorp bank which we were going to started mucking up many small details regarding our banking over about a six months period which was very frustrating. Then came the big one the big big mistake that the bank made . Because Suncorp had mucked things up so many times in such a short time I decided to close all my accounts with them only to find the lady behind the counter had also closed my mothers account too but without our permission. In fact my mother wasn't even in the bank at the time. The bank employee said she was sorry for the mistake and that she couldn't reopen my mothers account now that it had been closed. I was in total shock I didn't know how I was going to explain what just happened to my mother as she didn't find some things easy to understand at the best of times which is understandable given her age, I also new that my mother had a lot of companies putting money into and out of my mothers account and to explain what had just happened to all these companies would end up a huge problem ( which it has been a big problem for the last 4 months ) just the other day we realised that Medicare hadn't been advised of my mothers new account details either. We did end up receiving an apology letter from the Suncorp area manager also one from the branch manager which really meant little as both the bank manages fogged off the problem as (just a mistake that the employee had made and no one is above making mistakes. The fact that I felt really embarrassed and didn't know how to explain to my mother what had happened that day also all the trouble we were to have with explaining new bank account details to all the companies who needed it meant very little to either manager and even less to the employee who closed my mothers account with out my mothers permission . The whole so called mistake that the Suncorp bank made upset myself and my mother a great deal and caused a lot of confusion for us and to this day we haven't received any apology from the employee who made the so called mistake . To whom ever may read this review, mind who you bank with you just never know what might happen to your account. We sure didn't see it coming. What happened to us with my mothers account, you could end up with a great deal of problems on your hands and a lot of heartache just as we did with The Suncorp Bank .


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        Suncorp Cash Management Account savings account review by Helen from Queensland

        1 person found this review helpful – do you? Yes flag

      • UBank savings account review

        Best Bank Account for the under 30s

        1. Overall customer rating
        2. (Reviewed 3 days ago)

        Great product for young people wanting to save $5000. Has consistently had the best or second best rates while I have been banking with them.  Full review 

        Great product for young people wanting to save $5000. Has consistently had the best or second best rates while I have been banking with them.


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        UBank USaver Reach savings account review by Anthony from Victoria

        1 person found this review helpful – do you? Yes flag

      • Commonwealth Bank savings account review

        Absolutely fantastic features and the best service

        1. Overall customer rating
        2. (Reviewed 3 days ago)

        I have always received the best, fast, friendly and helpful assistance whenever I need any. Well recommended, I am satisfied with my $ being with the Commonwealth bank.  Full review 

        I have always received the best, fast, friendly and helpful assistance whenever I need any. Well recommended, I am satisfied with my $ being with the Commonwealth bank.


          1. Price
          1. Features
          1. Customer service
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        Commonwealth Bank savings account review by Jean from Western Australia

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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

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  • 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.