Top savings and term deposit rates: June 2025
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With the RBA following through with a rate cut last month, 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 5.00%, 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: June 2025
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 5.15% p.a. for the first four months on balances up to $250k. The ongoing rate is still a competitive 3.70% 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
- 5.00% p.a. Maximum interest rate
- No account keeping fees
- Mozo Experts Choice Award Winner
ING's Savings Maximiser offers an interest rate of 5.00% 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: June 2025
Term Deposit
- 4.55% p.a. for 6 month term
- 4.15% 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.
Great Southern Bank Term Deposit
- 4.50% p.a. interest for 6 months
- 4.55% p.a. interest for 4 months
- One of Australia’s largest customer owned bank
Get a guaranteed rate of return on your savings with one of Australia’s largest customer-owned banks. Choose the term length to suit your needs, from 1 month to 5 years (with interest paid on maturity for all terms under 1 year). There is a minimum $5K investment, and you can add or withdraw funds or change the term length during the 14 day grace period. Set up is fast, with Great Southern Bank claiming it takes less than 5 minutes .
Top bank accounts: June 2025
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 Bank 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 no cash advance fees for withdrawals ATMs outside Australia.
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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