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Get the most from your money: best savings & term deposit accounts in 2025 revealed

Mozo Experts crunch the numbers on 368 accounts from 84 providers to find the best value savings accounts and term deposits

27 March 2025

Woman saving money in piggy bank next to Mozo Experts Choice Awards badge

Today, Mozo is excited to reveal the industry leaders providing the best savings accounts and term deposits to Aussie consumers.

The expert judges at Mozo crunched the numbers on 368 personal savings accounts and term deposits from 84 financial institutions to identify which accounts offer the best value over seven award categories.

“We started the Mozo Experts Choice Awards program to guide consumers by highlighting the brands and products which offer the best value and features”, says AJ Duncanson, Data Director and Mozo Experts Choice Awards Judge.

“The awards for savings accounts and term deposits recognises the best of the best over seven categories, helping Aussie savers find the right account for them and get the most out of their money” 

Identifying the winning brands

Different criteria were used to identify the best value savings accounts in each category.

“When identifying the best savings account in each category, we weighed up many factors including base rates, introductory rates and bonus rates to find which accounts offered the best value to Aussie savers”, says Duncanson.

“When determining the winners of the Term Deposit award, we considered  deposits invested over multiple time periods  to find which term deposits resulted in the highest average return.”

 Read the full methodology report here. 

Macquarie Bank named Australia’s Best Everyday & Savings Bank in 2025

Macquarie Bank is this year's winner of Australia's Best Everyday and Savings Bank award. It had 

8 category award wins across personal everyday banking accounts , savings accounts and SMSF accounts.

“ Macquarie Bank stood out as the clear winner of the prestigious, Australia’s Best Everyday and Savings Bank of 2025 award” says Duncanson. 

“The fee-free everyday account with its interest earning feature,  the simplicity of the savings  products without strict bonus conditions, and their strong rates really set them apart from the other contenders.”

Highly Commended Everyday & Savings Bank

The Highly Commended Everyday & Savings Bank award recognises the institutions who took out award wins across several categories in the Mozo Experts Choice Awards for savings and transactions in 2025.

This year there were three stand out banks:

Winners List:

High interest Savings

Kick Start Savings

No Strings Savings

Young Adult High Interest Savings

Teen High Interest Savings

Kids High Interest Savings

Term Deposit

To see the full list of winners, and details on how the winners were chosen, you can read the methodology report here.