Savings calculator

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Savings account comparisons on Mozo - last updated 21 February 2024

Search promoted savings accounts below or do a full Mozo database search. Advertiser disclosure.
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    Reward Saver Account

    Maximum rate
    standard interest rate
    Govt Deposit Guarantee
    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.

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    Mozo Experts Choice 2023
    High Interest Savings Account

    Maximum rate
    standard interest rate
    Govt Deposit Guarantee
    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.

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    Hero Saver

    Maximum rate
    standard interest rate
    Govt Deposit Guarantee
    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.

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    Reward Saver

    Maximum rate
    standard interest rate
    Govt Deposit Guarantee
    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.

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    High Interest Save Account

    Maximum rate
    standard interest rate
    Govt Deposit Guarantee
    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.

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    Mozo Experts Choice 2023
    Bonus Saver Account

    Maximum rate
    standard interest rate
    Govt Deposit Guarantee
    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.

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    Saver Account

    Maximum rate
    standard interest rate
    Govt Deposit Guarantee
    4.35% p.a. (for $0 to $1,000,000)
    0% p.a.(for $0 and over)
    Yes up to $250,000

    Make 5 or more successful card purchases per calendar month using your Up debit card and digital wallets (ATM transactions excluded).

    Earn bonus interest when you make 5 purchases per month. No fees. Set up multiple savers via Up’s award-winning app (all eligible for bonus rate). Innovative features include custom pay cycle, automations, round-ups, and automatic split payments across your savers when your pay arrives. Winner of 2023 Mozo Experts Choice Award Excellent Banking App^.

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    Mozo Experts Choice 2023
    Savings Account

    Maximum rate
    standard interest rate
    Govt Deposit Guarantee
    5.50% 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.

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^See information about the Mozo Experts Choice Savings accounts Awards

Mozo provides general product information. We don't consider your personal objectives, financial situation or needs and we aren't recommending any specific product to you. You should make your own decision after reading the PDS or offer documentation, or seeking independent advice.

While we pride ourselves on covering a wide range of products, we don't cover every product in the market. If you decide to apply for a product through our website, you will be dealing directly with the provider of that product and not with Mozo.

Meet your goals with a money saving calculator

Have you been trying to save for a big purchase and not quite making it? Do you never seem to meet your target and you're not sure how to get there? To get a better idea on how long it'll take you to reach your savings goal or how much you can save in a set period, take a peek savings calculators like the one we have here on the Mozo website.

Once you'll popped your details into the saving calculator you'll know how long it'll be before you reach your goals and how much you need to increased your regularly payments by if you want to get there sooner. Mozo's saving calculator clearly displays how your savings will grow with your deposits and accumulated interest, showing that your saving goals are very achievable!

Once the savings calculator has given you a good idea of what your goals are, Mozo can help you choose a savings account or term deposit that will get you there. We have a database of Australia's banks and credit unions that makes it easy to access which option will bring you the best returns and who's offering this deal. A term deposit is a great idea if you already have a bit put aside and don't need regular access to the money. A savings account is better if you're just beginning saving if you're starting out from zero, we have a list of savings accounts that require no minimum balance.