Top savings and term deposit rates: April 2025
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With the RBA cutting rates in February, it's a tricky time for savers so getting the best return on your money is paramount.
If you can stay disciplined with your savings regime some of the leading savings accounts are still offering rates above 4.75% p.a., but have conditions attached to get the high bonus rates. If you want a more set and forget approach term deposits provide great guaranteed returns, with some short term rates still sitting at relatively high levels.
Here are some of the top term deposits, savings accounts and bank account options on the market right now to help make your money count for more.
Top Savings Accounts: April 2025
ING Savings Maximiser
- 5.40% p.a. Maximum interest rate
- No account keeping fees
- Mozo Experts Choice Award Winner
ING's Savings Maximiser offers an interest rate of 5.40% per annum for eligible customers. To earn this rate, you need to make five card purchases with your linked ING transaction account, deposit $1,000 each month, and increase your balance every calendar month. This rate is available for balances up to $100,000, and there are no monthly fees. If you don't meet the bonus conditions, you will receive a standard variable rate of 0.05% per annum in the following month.
uBank High Interest Save Account
Start your savings journey with no monthly fees to pay on any of your save accounts and you can split your money with up to 10 Save accounts with the uBank High Interest Savings Account. You’ll be able to set savings targets and track the progress of all your Save accounts too. Deposits guaranteed up to $250K per customer.
Top term deposits: April 2025
Term Deposit
- 4.90% p.a. for 6 month term
- 4.75% p.a. for a 1 year term
- Mozo Experts Choice Award - Best Term Deposit Winner
Judo Bank maintains its position as a market leader with some of the highest term deposit rates available. Their offerings span from three months to five years, with flexible interest payment options including annual, maturity, or monthly payments (at a slightly reduced rate). A notable feature is their 0.10% interest rate bonus on rollovers at maturity, alongside the flexibility to have interest paid to external bank accounts.
Top bank accounts: April 2025
HSBC Everyday Global Account
- Holds up to 10 currencies in one account
- 2% cashback on tap & pay purchases under $100 AUD (conditions apply)
- Mozo Experts Choice Awards winner
The HSBC Everyday Global Account combines everyday banking convenience with international capabilities. Deposit AUD2,000 or more monthly to qualify for 2% cashback on tap and pay purchases under $100. The account features no monthly fees, free HSBC ATM access worldwide, and unlimited free transactions across online, EFTPOS, BPAY, and direct debits. It's particularly suited to international travellers, with the capacity to hold up to ten currencies for overseas spending.
ING Orange Everyday
- No monthly fees
- ATM fee rebates
- Mozo Experts Choice Awards Exceptional Everyday Account Winner
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.
Suncorp Everyday Options
- Create up to 9 sub-accounts
- Double Winner Mozo Experts Choice Awards
- No account-keeping fees
This dual award-winning account excels both domestically and internationally. It enables up to nine sub-accounts to help organise your finances, features no account-keeping fees, and offers unlimited withdrawals between accounts. International travellers benefit from zero overseas ATM fees and no foreign exchange fees from Suncorp.
Ready to explore more options? Compare additional high-interest savings accounts and features on our hub page.
* 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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