As 2025 gets started, savers could see some benefit from some still high interest rates across both savings accounts and term deposits. Building on the strong momentum of 2024, current rates present some great opportunities to maximise returns on savings.
Providers are offering several standout options for growing your nest egg this year, with some of the leading savings accounts offering rates above 5.00% p.a.
Term deposits provide great guaranteed returns for those preferring a set-and-forget approach, 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: January 2025
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Mozo provides general product information. We don't consider your personal objectives, financial situation or needs and we aren't recommending any specific product to you. You should make your own decision after reading the Product Disclosure Statement (PDS) or offer documentation, or seeking independent advice. It is also advised to review Target Market Determination(TMD) of products that you are considering. The TMD can be found on the provider's website.
ING's Savings Maximiser offers an interest rate of 5.50% 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 0.55% per annum in the following month.
MyState Bank's Bonus Saver Account rewards consistent savers with an attractive 5.00% p.a. maximum interest rate and zero account fees. The bonus rate conditions are straightforward: deposit $20 or more monthly and make at least five transactions through a linked MyState Bank everyday transaction account.
Top term deposits: January 2025
Mozo may receive payment if you click products on our site. Mozo does not compare the entire market.
Important disclosures
Important disclosures
Advertiser disclosure
Our goal at Mozo is to help you make smart financial decisions and our award-winning comparison tools and services are provided free of charge. As a marketplace business, we do earn money from advertising and this page features products with Go To Site links and/or other paid links where the provider pays us a fee if you go to their site from ours, or you take out a product with them. You do not pay any extra for using our service.
We are proud of the tools and information we provide and unlike some other comparison sites, we also include the option to search all the products in our database, regardless of whether we have a commercial relationship with the providers of those products or not.
'Sponsored', 'Hot deal' and 'Featured Product' labels denote products where the provider has paid to advertise more prominently.
'Mozo sort order' refers to the initial sort order and is not intended in any way to imply that particular products are better than others. You can easily change the sort order of the products displayed on the page.
We provide only general advice
Mozo provides general product information. We don't consider your personal objectives, financial situation or needs and we aren't recommending any specific product to you. You should make your own decision after reading the Product Disclosure Statement (PDS) or offer documentation, or seeking independent advice. It is also advised to review Target Market Determination(TMD) of products that you are considering. The TMD can be found on the provider's website.
Term Deposit
5.05% p.a. for 6 month term
5.00% 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: January 2025
Mozo may receive payment if you click products on our site. Mozo does not compare the entire market.
Important disclosures
Important disclosures
Advertiser disclosure
Our goal at Mozo is to help you make smart financial decisions and our award-winning comparison tools and services are provided free of charge. As a marketplace business, we do earn money from advertising and this page features products with Go To Site links and/or other paid links where the provider pays us a fee if you go to their site from ours, or you take out a product with them. You do not pay any extra for using our service.
We are proud of the tools and information we provide and unlike some other comparison sites, we also include the option to search all the products in our database, regardless of whether we have a commercial relationship with the providers of those products or not.
'Sponsored', 'Hot deal' and 'Featured Product' labels denote products where the provider has paid to advertise more prominently.
'Mozo sort order' refers to the initial sort order and is not intended in any way to imply that particular products are better than others. You can easily change the sort order of the products displayed on the page.
We provide only general advice
Mozo provides general product information. We don't consider your personal objectives, financial situation or needs and we aren't recommending any specific product to you. You should make your own decision after reading the Product Disclosure Statement (PDS) or offer documentation, or seeking independent advice. It is also advised to review Target Market Determination(TMD) of products that you are considering. The TMD can be found on the provider's website.
HSBC Everyday Global Account
Holds up to 10 currencies in one account
2% cashback on tap & pay purchases under $100 AUD (conditions apply)
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.
The award-winning Orange Everyday account delivers outstanding value with 1% cashback on eligible utility bills (up to $100 per financial year), ATM fee rebates throughout Australia, and unlimited international transaction fee rebates. To access these benefits, deposit $1,000 monthly from an external account and make 5+ card purchases.
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.
Mozo provides general product information. We don't consider your personal objectives, financial situation or needs and we aren't recommending any specific product to you. You should make your own decision after reading the PDS or offer documentation, or seeking independent advice.
While we pride ourselves on covering a wide range of products, we don't cover every product in the market. If you decide to apply for a product through our website, you will be dealing directly with the provider of that product and not with Mozo.
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Our goal at Mozo is to help you make smart financial decisions and our award-winning comparison tools and services are provided free of charge. As a marketplace business, we do earn money from advertising and this page features products with Go To Site links and/or other paid links where the provider pays us a fee if you go to their site from ours, or you take out a product with them. You do not pay any extra for using our service.
We are proud of the tools and information we provide and unlike some other comparison sites, we also include the option to search all the products in our database, regardless of whether we have a commercial relationship with the providers of those products or not.
'Sponsored', 'Hot deal' and 'Featured Product' labels denote products where the provider has paid to advertise more prominently.
'Mozo sort order' refers to the initial sort order and is not intended in any way to imply that particular products are better than others. You can easily change the sort order of the products displayed on the page.
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