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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

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

      3.80%(for $0 to $1,000,000)

      No withdrawals in the month. Bonus rate for first 4 months, reverting to 2.70% 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

      3.50%(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

      3.41%(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

      • ANZ

        ANZ savings account review

        The best

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

        Customer service #1. Always helpful, staff in branch and phone contacts go beyond good service to ensure you are OK.  Full review 

        Customer service #1. Always helpful, staff in branch and phone contacts go beyond good service to ensure you are OK.


          1. Price
          1. Features
          1. Customer service
          1. Convenience
          1. Trust
        Less
        ANZ savings account review by Hesther

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

      • Bank of Queensland

        Bank of Queensland savings account review

        Great Customer Service but Need More Branches

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

        Bank of Queensland is an overall helpful and reliable bank. From the initial sign-up, their customer support is something I will commend them on. Every question I had was answered, and they talked me through any problems I encountered. The only do...  Full review 

        Bank of Queensland is an overall helpful and reliable bank. From the initial sign-up, their customer support is something I will commend them on. Every question I had was answered, and they talked me through any problems I encountered. The only downfall for myself is that there are not enough branches where I live in Western Australia. However, there are a lot of 'Redi ATMs' available, thank goodness!


          1. Price
          1. Features
          1. Customer service
          1. Convenience
          1. Trust
        Less
        Bank of Queensland Bonus Interest Savings Account savings account review by Emma from Western Australia

        Was this review helpful? Yes flag

      • Commonwealth Bank

        Commonwealth Bank savings account review

        Always saving

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

        Commonwealth banking is great for saving up money. I can leave my bank account for months and nothing would have been touched and I have quick access with my MasterCard.  Full review 

        Commonwealth banking is great for saving up money. I can leave my bank account for months and nothing would have been touched and I have quick access with my MasterCard.


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

        2 people found this review helpful – do you? Yes flag

    • 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.