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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

    • 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
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    • 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
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    • 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
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    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
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    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

        Good features and great choice to make

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

        I like this bank as it is the leading Australian bank which makes it much more trustworthy, I feel like CBA can definitely keep my money safe. Being a student, money is hard earned through part-time jobs, and their benefits plus the scheme makes m...  Full review 

        I like this bank as it is the leading Australian bank which makes it much more trustworthy, I feel like CBA can definitely keep my money safe. Being a student, money is hard earned through part-time jobs, and their benefits plus the scheme makes me want to save as well as be happy about it overall! People should be aware of the comparatively high rates of interest and other rates but this bank is a great choice!


          1. Price
          1. Features
          1. Customer service
          1. Convenience
          1. Trust
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        Commonwealth Bank Youthsaver savings account review by Michelle from Queensland

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      • Greater Building Society

        Greater Building Society savings account review

        The greatest

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

        I've been a long time customer of the Greater Building Society when they recommended a new savings account with online banking. The account was easy to set up, was done in minutes and is saving me money . I'm extremely happy with the lovely cust...  Full review 

        I've been a long time customer of the Greater Building Society when they recommended a new savings account with online banking. The account was easy to set up, was done in minutes and is saving me money . I'm extremely happy with the lovely customer service, they are SO helpful. I find it very easy to access my account in branch and online and I'm reassured knowing that I have 24 hour support. I'm loving my new account.


          1. Price
          1. Features
          1. Customer service
          1. Convenience
          1. Trust
        Less
        Greater Building Society savings account review by Ashley

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      • Greater Building Society

        Greater Building Society savings account review

        Friendly, helpful staff!

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

        Internet Banking is a breeze. Website is no-fuss, and easy to get around. In-house; the customer service is always brilliant. Friendly, helpful staff!  Full review 

        Internet Banking is a breeze. Website is no-fuss, and easy to get around. In-house; the customer service is always brilliant. Friendly, helpful staff!


          1. Price
          1. Features
          1. Customer service
          1. Convenience
          1. Trust
        Less
        Greater Building Society savings account review by Lauren 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

    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.