Boost your balance: 4 savings accounts that do more than just earn interest

Ceyda Erem

25 Feb 2020

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We get it, saving money is easier said than done. Because other than making sure willpower is on your side, for some of us, remembering to put money aside is a challenge in itself. But what if there was a way to make saving a piece of cake? Turns out there is! 

These days, savings accounts do more than just earn interest. Some are loaded with tools and features that can help you reach your savings goals. But don’t worry if you’ve been kept in the dark about the latest account features to have hit the market, because we’ve picked out four accounts that not only come with high interest rate, but some pretty innovative features as well. 

Promoted

CUA eSaver Reward
  • 2020 Mozo Experts Choice Award^ winner

  • 2.00% maximum rate (up to $100,000)

  • Savings Top Up feature

If you’re ready to take your savings game to the next level, let us introduce you to the CUA eSaver Reward, proud owner of a 2020 Mozo Experts Choice Award^ for best SMSF Regular Saver. Aside from the juicy 2.00% maximum rate savers can earn by depositing $1,000 into their account each month, there are also no account fees. But what really makes this savings account a standout is its Savings Top Up feature. Simply spend $10 or more in one transaction with your CUA debit card and a pre-set top up amount between 50 cents to $5 will automatically be transferred into your saving account! Easy as!

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ING Savings Maximiser
  • 1.95% maximum rate (up to $100,000)

  • Everyday Round Up feature

  • No account fees

Make saving a daily habit with the ING Savings Maximiser! This savings account features a hot 1.95% maximum rate for savers who deposit $1,000 into their account and make five debit card purchases each month. Dedicated savers can also turn on the Everyday Round Up feature, which rounds up every debit card purchase to the nearest $1 or $5 and deposits the difference in your savings account! The Savings Maximiser also comes with zero fees, so every dollar is yours to keep.

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UBank USaver with Ultra Transaction Account
  • 2.10% maximum rate (up to $200,000)

  • 2020 Mozo Experts Choice Award^ winner

  • Sweep Technology feature

Next up is online bank UBank with its USaver with Ultra Transaction Account, which was recently awarded a 2020 Mozo Experts Choice Award^ in the Best Regular Saver category - and it’s not hard to see why. Aussies who deposit at least $200 into their account each month will earn a generous 2.10% maximum rate and pay no account fees. However, its Sweep Technology feature is what really makes saving a breeze. Once a maximum limit is set on your account, UBank will sweep the excess amount into your USaver account, so you’ll automatically start earning interest on your spare cash. 

Promoted

86 400 Save Account
  • 2.25% maximum interest rate (up to $300,000)

  • 2020 Mozo Experts Choice Award^ winner

  • Bonus rate reminders

Last but certainly not least is 86 400 and its 2020 Mozo Experts Choice Award^ winning Save Account. This savings account comes with a competitive 2.25% maximum interest rate for Aussies who deposit $1,000 into either their Pay transaction account or Save Account - you can even open up to three Save accounts and still earn the maximum rate on each of them, a savings feature that’s pretty hard to come by. And you won’t ever have to worry about remembering to deposit the $1,000, as 86 400 will send you a reminder if they think you’ve forgotten!

Want to check out savings features on other accounts? Then you’ll need our savings account comparison tool, which compares more than 200 savings accounts from 60 banks and financial institutions. 

^More information about our 2020 Mozo Experts Choice Awards 

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