Australia's Best Savings, Term Deposits and Bank Accounts Unveiled
You work hard for your money and it should work just as hard for you! That’s why, each year Mozo’s team of money experts assess and evaluate every savings account, term deposit and everyday bank account in our database to determine the best value options for Australians.
For our 2025 Mozo Experts Choice Awards^, we compared over 622 products from 85 banking providers.
Whether you aim to maximise interest, enjoy fee-free everyday banking or reach your savings goal faster, continue reading for our Editor’s round-up of some of the stand-out winners from the 2025 Awards.
BEST SAVINGS ACCOUNTS
RABOBANK HIGH INTEREST SAVINGS ACCOUNT
If you are looking to kick-start your savings, this award-winning online savings account account from Rabobank has a high introductory rate of 5.45% p.a. for the first four months on balances up to $250k. The ongoing rate is still a competitive 4.00% p.a and there are no pesky minimum balance or minimum deposit requirements. There are also no account fees so you can enjoy both hassle-free and fee-free saving. This account is only accessible via online banking so you’ll need to download the Rabobank app or login via internet banking.
ING Savings Maximiser
- 5.40% p.a. Maximum interest rate
- No account keeping fees
- High Interest Savings Winner- Mozo Experts Choice Award 2025
The ING Savings Maximiser’s 5.40% maximum interest rate is hard to beat. You can earn a high bonus rate of interest when you make 5 card purchases on your linked ING translation account, deposit at least $1,000 and grow your balance every calendar month. The maximum interest rate is available on balances up to $100,000 and there are no monthly account fees. If bonus interest conditions are not met in a calendar month, the standard variable rate of 0.05% p.a. will apply in the next calendar month. Mozo Experts Choice Award High Interest Savings winner^.
BEST TERM DEPOSITS
JUDO TERM DEPOSIT
- 4.80% p.a. for a 6 month term
- 4.50% p.a. for a 1 year term
- Best Term Deposit Winner 2025^
Judo Bank is a multi-year Mozo Experts Choice Awards recipient and offers some of the highest term deposit rates in the Mozo database. There are a range of terms to choose from starting from as short as three months up to five years, with the minimum investment starting at $1,000. Interest can be paid out when the term deposit hits maturity or there’s also an annual or monthly option but these have a slightly lower interest rate. Judo Bank also lets savers have their interest paid to another bank and offers a 0.10% interest rate bonus on rollovers once your deposit reaches maturity. Fees may apply to early withdrawals. Deposits up to $250K backed by Government deposit guarantee.
BEST BANK ACCOUNTS
ING Orange Everyday
- Zero ING international transaction fees, zero monthly fees
- Rebates on domestic ATM transactions
- Exceptional Everyday Account Winner - Mozo Experts Choice Award 2025
ING’s award-winning Orange Everyday account gives you access to 1% cashback on eligible utility bill payments (up to $100 per financial year), rebates on ATM fees for the first 5 fee incurring withdrawals (domestic), unlimited rebates on the ING International Transaction fee when you deposit at least, $1,000 from an external bank account and make at least 5 card purchases using your ING debit card each month.
HSBC EVERYDAY GLOBAL
- Holds up to 10 currencies in the one account
- 2% cashback on tap & pay purchases under $100 AUD (conditions apply)
- Mozo Experts Choice Award Winner 2025
Taking out an award for Exceptional Everyday Account^ and Travel Debit Card, this fee-free bank account bundles up the useful features of an everyday transaction account alongside international spending features. As long as you deposit AUD$2,000 or more into your HSBC Everyday Global Account before the last day of each calendar month, you could earn 2% cashback on tap and pay purchases under $100 (conditions apply). There’s no monthly fees or HSBC ATM fees at most locations worldwide, and you’ll have unlimited fee-free transactions online, via EFTPOS, BPAY or direct debits. Users can hold up to ten different currencies which can be spent while travelling overseas or making international purchases.
Suncorp Everyday Options
- 9 sub accounts to help you spend, budget and save
- Winner Mozo Experts Choice Awards 2025^
- No account-keeping fees
Suncorp’s Everyday Options account scooped two Mozo Experts Choice Awards in 2025 - Exceptional Everyday Account and Travel Debit Card making it a top account to have here in Australia and while you are travelling. This account lets you create up to nine sub accounts to manage your spending buckets. These are all accessible online, have no account-keeping fees and have unlimited withdrawals to and from the main account. There are no monthly account fees and when overseas travellers won’t need to worry about being charged overseas ATM fees or foreign exchange fees by Suncorp.
These are just some of the winners from the 2025 awards. To see the full list of winners head over to our Mozo Experts Choice Awards page or our hub pages to compare high interest savings accounts, term deposits or bank accounts for your needs.
* Different interest rates apply to different amounts or different interest payment frequencies.
^See information about the Mozo Experts Choice Savings Account Awards
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