Australia’s top high-interest savings accounts of 2019

Rhianna Dews

27 Feb 2019

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If you’re looking for ways to boost your savings, then a high-interest savings account is a sure-fire way to do it. And if you’d like to get your hands on an award-winning high-interest savings account, then you’ve come to the right place. We've compiled a list of some of the top high-interest savings accounts of the 2019 Mozo Experts Choice Awards for Deposits winners.

To win a Mozo Experts Choice Award is incredibly prestigious and banks can’t simply nominate themselves for an award. Our Mozo experts choose each award winner after meticulously analysing their product data and scanning the market to find elite products in each product category. After thoroughly assessing each candidate and identifying those with the highest value offering and market-leading features, our  Mozo experts carefully distinguished the top products as the winners.

So, without further ado, here’s a rundown on some of the top high-interest savings accounts of the 2019 Mozo Experts Choice Awards for Deposits winners.

UBank USaver with Ultra Transaction

Promoted

UBank USaver with Ultra Transaction Account
  • 2019 Mozo Savings Bank of the Year*

  • 2.87% p.a. special interest rate

  • Innovative sweep technology

The details:

You'll be laughing with the UBank USaver with Ultra Transaction account's 1.81% p.a. standard interest rate and generous 2.87% p.a. special interest rate when you deposit $200 or more into either account each month. Plus, you’ll be saving on autopilot with its in-built sweep technology, which automatically sweeps money (based on a set amount of your choosing) from your linked transaction account to your USaver account every night. On top of all this, the UBank USaver with Ultra Transaction account charges $0 account keeping, overseas ATM withdrawal or foreign exchange rate fees, which goes to show why it won a 2019 Mozo Experts Choice Award in the Regular Saver category, while UBank was crowned as 2019 Mozo Savings Bank of the Year*.

AMP Saver Account

Promoted

AMP Saver Account
  • Dual 2019 Mozo Experts Choice Award winner*

  • 2.55% p.a. introductory interest rate for 4 months

  • $0 account fees

The details:

With a competitive 2.55% p.a. introductory interest rate for 4 months, and a 2.10% p.a. ongoing interest rate, the AMP Saver Account is designed to help you get the most out of your savings without any extra account fees to hold you back. Taking the pressure out of your savings, the AMP Saver has no minimum monthly deposit requirements to score this bumper rate, meaning you'll set the rules when it comes to how much you choose to save. The AMP Saver gained its multi-award winner status after receiving 2019 Mozo Experts Choice Awards in both the Kick Start Savings and No Strings Savings categories. When you link your AMP Saver Account to an AMP everyday transaction account, you’ll have the flexibility to make unlimited free transactions via the internet, over the phone or from AMP’s mobile banking app.

RaboDirect High Interest Savings Account

Promoted

Rabobank High Interest Savings Account
  • Multiple 2019 Mozo Experts Choices Award winner*

  • 4-month introductory interest rate of 3.05% p.a

  • Save up and manage savings online

The details:

If you’re looking to get the most out of your savings, you can’t go wrong with a bank that specialises in savings accounts. With a whopping 3.05% p.a. introductory interest rate for the first 4 months, and a competitive 1.80% p.a. ongoing rate, the RaboDirect High Interest Savings Account was made to help you boost your savings. There are no minimum monthly deposit or withdrawal conditions to set you back, and you won’t have any account fees to worry about either. RaboDirect is 100% online, so you can easily sign up and manage your account wherever and whenever you like. You’ll need to link your account to an everyday transaction account, but the good news is, it can be with any bank or financial institution. With all these savings-savvy features up for grabs, it makes sense why this account won awards in both the No Strings Savings and Kick Start Savings categories.

UBank USaver

Promoted

UBank USaver
  • 2019 Mozo Savings Bank of the Year*

  • 1.81% p.a. interest rate

  • Savings Buckets feature

The details:

Our 2019 Mozo Savings Bank of the Year, UBank, make its’ second appearance on our list of top high-interest savings accounts of the 2019 Mozo Experts Choice Awards for Deposits, with its USaver account. With no fees, and a competitive 1.81% p.a. standard interest rate, the USaver won a 2019 Mozo Experts Choice Award in the No Strings Savings category. Additionally, this 100% online account offers a game-changing Savings Bucket feature, which allows you to split your savings into different Savings Buckets dedicated to different savings goals. In other words, if your short-term savings goal is to buy a brand new Jeep Wrangler, but you’d also like to start working towards your long-term goal of saving for a house deposit, then you can open multiple Savings Buckets to help you reach each savings goal. If this doesn’t help you save, then we don’t know what will.

ME Online Savings Accounts

Promoted

ME Online Savings Account
  • Multiple 2019 Mozo Experts Choices Award winner*

  • 2.85% p.a. special interest rate (conditions apply)

  • $0 account or transaction fees

The details:

If you’re looking for a high interest savings account that’ll get you more bang for your buck, then check out the ME Online Savings Account. This account starts at a standard interest rate of 1.30% p.a., with the potential to earn a super competitive 2.85% p.a. special interest rate when you link your ME Online Savings Account to a ME EveryDay transaction account and make a weekly “tap and go” purchase using its Buck debit card. Sounds easy, right! And in case you’re wondering, the ME Online Savings Account got the Mozo tick of approval, taking home a 2019 Mozo Experts Choice Award in the Regular Saver category.

For more savings account options, check out our savings accounts comparison table.

*Find out more about the 2019 Mozo Experts Choice Awards for Deposits.

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