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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 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

    • 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

      4.00%(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

      0.00%(for $0 and over)

    • account fee per month
    • Go to site
    More info
    • RaboDirect 90 Day Notice Saver
      • No monthly fees
      • Quick online applcation
      • Interest paid monthly
    • special rate

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

      90 days notice required for withdrawals

    • standard interest rate

      0.00%(for $0 and over)

    • account fee per month
    • Go to site
    More info
    • UBank USaver with Ultra Transaction Account
      • 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

      3.90%(for $0 to $5,000,000)

      Bonus rate for the first 4 months

    • standard interest rate

      2.50%(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 3 months. Limited time only.
      • No minimum balance
      • Interest calculated daily and paid monthly
    • special rate

      3.80%(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 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 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

        Great customer service and great online banking

        1. Overall customer rating
        2. (Reviewed about 9 hours ago)

        CBA have the most helpful staff of all the major banks. If you go into the branch to see them, they will sit down with you and give you all the time you need. I have dealt with them regarding travel cards (different currencies), home loan applica...  Full review 

        CBA have the most helpful staff of all the major banks. If you go into the branch to see them, they will sit down with you and give you all the time you need. I have dealt with them regarding travel cards (different currencies), home loan applications, and savings accounts and every time I have left the branch feeling confident and satisfied with their service. I also have bank accounts with another major bank, but after dealing with CBA I am going to close those accounts and move all my accounts over to CBA. CBA also have a brilliant online banking system which clearly shows your savings, as well as the interest earned over a period of time.


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

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      • Commonwealth Bank

        Commonwealth Bank savings account review

        Very happy with the Commonwealth Bank

        1. Overall customer rating
        2. (Reviewed about 9 hours ago)

        Use phone banking for everything. Very efficient never any problems. Phone banking staff available 24/7 and always helpful and polite.  Full review 

        Use phone banking for everything. Very efficient never any problems. Phone banking staff available 24/7 and always helpful and polite.


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

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      • UBank

        UBank savings account review

        Great interest Rates

        1. Overall customer rating
        2. (Reviewed about 9 hours ago)

        The best standard interest I could find for any bank currently at 3.71% compared to other banks usually offering 2.71%. Good bank could improve access to transaction when overseas as it is currently difficult to transfer when you need a text messa...  Full review 

        The best standard interest I could find for any bank currently at 3.71% compared to other banks usually offering 2.71%. Good bank could improve access to transaction when overseas as it is currently difficult to transfer when you need a text message code which you don't have access to over seas.


          1. Price
          1. Features
          1. Customer service
          1. Convenience
          1. Trust
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        UBank USaver Reach (18 to 29 year-olds only) savings account review by Phillip 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

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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.