Your selected savings accounts
5.35% p.a. (for $0 to $250,000)
4.75% p.a.(for $0 to $1,000,000)
Yes up to $250,000
Bonus variable rate is available for the first four months.
Competitive introductory variable rate for first 4 months (on deposits up to $250,000). No account keeping fees to pay. Multiple 2023 Mozo Experts Choice Award winner.
Competitive introductory variable rate for first 4 months (on deposits up to $250,000). No account keeping fees to pay. Multiple 2023 Mozo Experts Choice Award winner.
Read our Mozo Review to learn more about the Macquarie Savings Account
Your selected savings accounts
5.25% p.a. (for $0 to $1,000,000)
0% p.a.(for $0 and over)
Yes up to $250,000
Intro bonus rate of 5.25% for balances up to $1,000,000 for the first 4 months, reverting to 3.25%. Minimum deposit of $50 and no withdrawals.
Introductory bonus rate for balances up to $1,000,000 for the first 4 months. Minimum deposit of $50 and no withdrawals. Start your account online in under 10 minutes and earn interest on balances up to $1,000,000 (T&Cs apply). No monthly account fees, helping you save smarter and faster.
Introductory bonus rate for balances up to $1,000,000 for the first 4 months. Minimum deposit of $50 and no withdrawals. Start your account online in under 10 minutes and earn interest on balances up to $1,000,000 (T&Cs apply). No monthly account fees, helping you save smarter and faster.
Read our Mozo Review to learn more about the IMB Bank Reward Saver Account
Your selected savings accounts
5.75% p.a. (for $0 to $250,001)
4.40% p.a.(for $0 to $250,001)
Yes up to $250,000
Bonus rate for the first 4 months from account opening
Reward yourself with a higher rate for your good savings habits with the Rabobank High Interest Savings Account . Receive the maximum rate when you grow your balance by at least $200 each month. No Account keeping fees. No minimum balance.
Reward yourself with a higher rate for your good savings habits with the Rabobank High Interest Savings Account . Receive the maximum rate when you grow your balance by at least $200 each month. No Account keeping fees. No minimum balance.
Read our Mozo Review to learn more about the Rabobank High Interest Savings Account
Your selected savings accounts
5.10% p.a. (for $0 to $250,000)
0.10% p.a.(for $0 and over)
Yes up to $250,000
Deposit at least $200 to either Spend or Save account from an external source each month.
No monthly fees on any of your save accounts. Split your money with up to 10 Save accounts. Set savings targets and track the progress of all your Save accounts. Deposits guaranteed up to $250K per customer.
No monthly fees on any of your save accounts. Split your money with up to 10 Save accounts. Set savings targets and track the progress of all your Save accounts. Deposits guaranteed up to $250K per customer.
Read our Mozo Review to learn more about the ubank High Interest Save Account
Your selected savings accounts
4.60% p.a. (for $0 to $250,001)
1.00% p.a.(for $0 to $5,000,001)
Yes up to $250,000
Minimum deposit of $200 and no withdrawals in the month.
Earn a generous variable rate on balances up to $250,001 each month you deposit at least $200 (excluding interest) on or before the last business day each month and make no withdrawals during the month. $0 account maintenance fees. Create a goal, set up regular deposits and track your progress on the Bankwest app.
Earn a generous variable rate on balances up to $250,001 each month you deposit at least $200 (excluding interest) on or before the last business day each month and make no withdrawals during the month. $0 account maintenance fees. Create a goal, set up regular deposits and track your progress on the Bankwest app.
Read our Mozo Review to learn more about the Bankwest Hero Saver
Your selected savings accounts
5.00% p.a. (for $0 to $250,000)
0.05% p.a.(for $0 and over)
Yes up to $250,000
Bonus rate when at least $20 is deposited each month and five Visa Debit transactions are made each month using linked Glide transaction account.
Start saving and earn interest with just a $20 deposit and make 5 eligible transactions each month. No fees or penalties for withdrawing money.
Start saving and earn interest with just a $20 deposit and make 5 eligible transactions each month. No fees or penalties for withdrawing money.
Read our Mozo Review to learn more about the MyState Bank Bonus Saver Account
Your selected savings accounts
5.25% p.a. (for $0 to $100,000)
0.30% p.a.(for $0 and over)
Yes up to $250,000
Earn a high interest bonus rate if you hold an eligible transaction account and meet the bonus rate conditions (T&Cs apply). Only requires $1 to open. Free e-banking transactions. No monthly service fees to pay. Access your account via e-banking or the Bendigo Bank app. Not applicable to business customers.
Earn a high interest bonus rate if you hold an eligible transaction account and meet the bonus rate conditions (T&Cs apply). Only requires $1 to open. Free e-banking transactions. No monthly service fees to pay. Access your account via e-banking or the Bendigo Bank app. Not applicable to business customers.
Read our Mozo Review to learn more about the Bendigo Bank Reward Saver
Your selected savings accounts
5.20% p.a. (for $0 to $30,000)
2.00% p.a.(for $0 and over)
Yes up to $250,000
Make 5 eligible card purchases per month with a Westpac Choice account and min 1 deposit and higher balance than at the beginning of the month in Life savings account.
Are you 18 - 29 years of age? Earn up to a generous variable interest rate on your savings when you spend and save with Westpac. For individuals aged 18 to 29 on Westpac Life account balances up to $30,000.
Are you 18 - 29 years of age? Earn up to a generous variable interest rate on your savings when you spend and save with Westpac. For individuals aged 18 to 29 on Westpac Life account balances up to $30,000.
Read our Mozo Review to learn more about the Westpac Life - 18-29 years old
Your selected savings accounts
When you're a student, your budget is generally pretty tight, which is why getting the best return on your money is important. Rather than keeping it in an everyday account (which earns little to no interest) a high interest savings account will help your account balance to instead grow faster. Most savings accounts are online and you can transfer money almost instantly if you need access fast, which can make them very useful as both a way to save money but also as an emergency fund.
While savings accounts can be straightforward, they do come in a few different forms that can affect the interest rates you receive. This can be as simple as a deposit and forget system or one that requires particular criteria to be met in order to gain access to the higher interest rates.
Bonus Rates
Savings accounts with a bonus rate will usually require some kind of criteria to be met such as regular monthly deposits. Keep in mind that the criteria may vary depending on the provider and account type, so always be sure to read the fine print.
Base Rates
The base rate of a savings account is the standard interest rate that is offered for keeping your money in the provided account. The base rate will generally be lower than the bonus rate and will usually be the rate the account reverts to if bonus conditions aren’t met.
Introductory Rates
When you first open up a bank account, you can be given an introductory rate by some providers. Basically, this means for a set period of time you will be given a higher interest rate on your savings before switching over to the base rate.
So, maybe you’re considering a student savings account, but you’re not sure what to look for. Generally, there are specifically advantageous features that a lot of the best savings accounts have that you should keep an eye out for:
No account fees: Student accounts generally can have no fees which, over the long run, can add up to a lot of money saved.
Bonus rate: Student savings accounts with a good bonus rate that you know you can meet the criteria for, are a must if you want to earn the highest interest on your savings that you can.
Competitive high interest rate: Comparing between student savings accounts to get the highest interest rate on the market is a wise way to get the best deal possible. Use the table above to compare between providers.
While savings accounts have a lot of good features, there are things to keep in mind when you’re thinking about what account you want to open:
Minimum deposits: Some accounts require that you have a minimum balance.
Bonus rate conditions: As mentioned above, while a bonus rate may be higher than other providers, it may not have a condition that you can successfully meet to maintain the better rate.
Other restrictions: Some accounts may require you to meet some other criteria such as having an already established transactional account alongside the savings account.
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Read MoreYour selected savings accounts