Extra sleep or potentially save $5000? How will you use the extra hour?

Instead of celebrating the end of daylight savings with a sleep in this Sunday, our advice to you is to grab your laptop and snuggle in for an hour of deal shopping-in-bed. And we don’t mean browsing the mid-season sales.

We’ve crunched the numbers to reveal that by switching from the average home loan, credit card and savings account to the most competitive deals in the Mozo database, you could clock up over $5,000 savings over the coming year.

Homeowners are up for the biggest windfall. By switching from the average variable rate home loan to the most competitive rate on a $500,000 home loan you’ll save $4,550. And if you’ve been looking for a reason to ditch your high interest accruing credit card now is a great time. The best rate in Mozo’s database is a huge 9.61% below the average interest rate, which would mean a saving of $384.40 a year.

We love a good sleep in, but we probably wouldn’t pay $5,000 for it.

Quick links:
Compare all home loans
Compare all credit cards

Here’s a look at the potential savings you could make by switching banking products:

Source: Mozo.com.au as at 28 March 2024.

And while you are snug up in bed, it’s also the perfect time to review your gas and energy plans. Last winter was one of the coldest on record and by switching to a more competitive plan you could save hundreds of dollars on your winter energy bill.

Finding the best deals in your area is easier than ever with our speedy energy comparison tool. Just plug in your postcode and we’ll reveal the best deals available to you. Check it out here or head on over to our energy guides section to read up on ways to save on your energy bill.

Or you could invest in a snuggie. Your call.

Home loan
Based on average rate of 6.80% p.a. vs best rate of 5.89% p.a. in the Mozo Database. $500,000 Owner Occupier Home Loan, Principal & Interest, LVR 80%, over a 25 year loan term. Accurate as at 28 March 2024.

Credit Card
Based on a balance in the next 12 months of $4,000 at average rate of 17.10% p.a. vs best rate of 7.49% p.a. in the Mozo Database.  Accurate as at 28 March 2024.

Savings Account
By banking the leading base savings rate of 5.55% instead of the average 3.27% on a $10,000 balance over 12 months in the Mozo Database. Accurate as at 28 March 2024

Compare more savings accounts below - last updated 19 June 2024

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

    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 2024 Mozo Experts Choice Award winner.

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  • PremiumSaver

    5.45% p.a. (for $0 to $250,001)

    1.50% p.a.(for $0 and over)

    Yes up to $250,000

    Increase balance by $200 by the end of each month

    Reward yourself with a higher rate for your good savings habits. Rabobanks’s PremiumSaver is simple - receive the maximum rate when you grow your balance by at least $200 each month (T&Cs apply). Plus, your savings help our Aussie farmers produce the food we love to enjoy.

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  • Mozo Expert Choice Badge
    Savings Maximiser

    5.50% p.a. (for $0 to $100,000)

    0.55% p.a.(for $0 and over)

    Yes up to $250,000

    For customers who have an Orange Everyday account, deposit $1000 into a personal ING account, make 5 eligible transactions and grow their nominated Savings Maximiser account each month.

    Great variable rate every month when you grow your balance each month in addition to other eligibility criteria. No ING fees to pay. Save even more with ING Everyday Round Up. Mozo Experts Choice Awards Everyday & Savings Bank of the Year winner for 2024.^

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  • Reward Saver Account

    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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