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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 175 savings accounts from 69 banks

  • Savings account information on our site is updated daily

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

    • UBank USaver with Ultra
      • Bonus interest. Conditions apply
      • Visa Debit Card
      • No monthly fees
    • special rate

      4.17%(for $0 to $200,000)

      minimum deposit requirement

    • standard interest rate

      3.11%(for $0 to $5,000,000)

    • account fee per month
    • Go to site
    More info
    • Bankwest TeleNet Saver
      • 4 month variable intro rate for new TeleNet Saver customers only. Limited time offer
      • No minimum monthly deposit
      • No fees
    • special rate

      4.09%(for $0 to $5,000,000)

      Bonus rate for the first 4 months

    • standard interest rate

      2.70%(for $0 and over)

    • account fee per month
    • Go to site
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    More info
    • ING DIRECT Savings Maximiser
      • No ING DIRECT fees
      • No fixed term or minimum balances
      • Anytime, anywhere banking with mobile app and 24/7 Australian call centre
    • special rate

      4.00%(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
    • 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
    • ANZ Online Saver
      • Exclusive online offer 1.30% p.a. bonus interest for 4 months. Limited time only.
      • No minimum balance
      • Interest calculated daily and paid monthly
    • special rate

      3.80%(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 3.71% 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

      3.71%(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
  • Savings account reviews

      • Commonwealth Bank

        Commonwealth Bank savings account review

        Friendly, Supportive & Excellent Customer Service

        1. Overall customer rating
        2. (Reviewed about 4 hours ago)

        I love the convenience of the location of the branch I visit and the absolutely friendly and helpful customer service they provide. I feel quite at home in that branch because the environment is comfortable and the service is efficient, quick and ...  Full review 

        I love the convenience of the location of the branch I visit and the absolutely friendly and helpful customer service they provide. I feel quite at home in that branch because the environment is comfortable and the service is efficient, quick and supportive. I find their range of products offered competitive and would certainly consider them particularly for a Home Loan.


          1. Price
          1. Features
          1. Customer service
          1. Convenience
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        Commonwealth Bank GoalSaver savings account review by Adeline from Queensland

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      • Commonwealth Bank

        Commonwealth Bank savings account review

        GOAL! Fab monthly interest puts a smile on my dial

        1. Overall customer rating
        2. (Reviewed about 4 hours ago)

        The GoalSaver account at Comm Bank was new to me, but it was the consultant who drew my attention to its benefits, during a face to face meeting. I was weighing the choices of term deposits and had never considered or in fact heard of a GoalSaver ...  Full review 

        The GoalSaver account at Comm Bank was new to me, but it was the consultant who drew my attention to its benefits, during a face to face meeting. I was weighing the choices of term deposits and had never considered or in fact heard of a GoalSaver account. The consultant was not rushed, and took sufficient time in investigating all options of this account, explaining and comparing my term deposit option. I opened and have been using this account for a few months now and I am happy with my decision. The 3.8% interest rate, was higher than term deposits at the time, and interest is calculated per month which is great to see as your principal grows. Be aware that the bonus interest is only applicable for amounts less than $100, 000 and if you don’t deposit minimum $200 a month you forfeit the bonus interest. However if you fit into this category and have $200 to deposit/transfer a month, give it a look. It is well worth the shift from term deposits where your money is locked away, to the GoalSaver Comm bank account. It has made a huge difference to my saving, and I won’t look back. It holds true to its name, supporting me reach my goal sooner.


          1. Price
          1. Features
          1. Customer service
          1. Convenience
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        Commonwealth Bank GoalSaver savings account review by Jessica from New South Wales

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      • Greater Building Society

        Greater Building Society savings account review

        Great convenience, great interest rate

        1. Overall customer rating
        2. (Reviewed about 4 hours ago)

        The convenience of the online Bonus Saver allows for me to keep track of my savings and adjust them whenever and where ever I want. Along with the great interest rate, there are no real cons to the account or the service.  Full review 

        The convenience of the online Bonus Saver allows for me to keep track of my savings and adjust them whenever and where ever I want. Along with the great interest rate, there are no real cons to the account or the service.


          1. Price
          1. Features
          1. Customer service
          1. Convenience
          1. Trust
        Less
        Greater Building Society Bonus Saver Online savings account review by Sera 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

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  • Savings account guides

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  • Community

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