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Bonus saver savings accounts

  • A good savings habit deserves a good interest rate and choosing the right savings account can help you super-size your nest egg in record time through the power of compound interest.

  • What is a bonus rate savings account?

    Bonus rate savings accounts are temporary high-interest offers. Usually after a time (perhaps 3-12 months) the 'honeymoon' rate will revert to normal, but in the meanwhile you get the benefit of a little savings boost. When looking at bonus saver accounts double-check you're happy with the reversion rate.

  • Should I get a savings account or a term deposit?

    If you need regular access to your cash, or haven't got a huge amount to invest, then a savings account is the way to go. However, if your savings are quite substantial (perhaps over $5000) and you won't be calling on it anytime soon then a term deposit could be a better option.

  • Can I apply for a bonus rate savings account online?

    Absolutely! In fact a number of bonus rate savings accounts are only available online as keeping them 'virtual' lets the provider save on overheads and pass the savings on to you. To apply simply click the 'go to site' button on your favourite savings account and follow the instructions to open your new account.

Savings account comparisons on Mozo - rates updated daily

  • ME Online Savings Account

    ME Online Savings Account

    • Savings Bank of the Year 2016
    • No minimum monthly deposit. Ongoing variable bonus rate
    • No monthly account-keeping fees

    special rate

    3.05% p.a. (for $0 to $250,000)

    Ongoing bonus rate if during the month you make a weekly Tap & Go purchase with your ME Everyday Transaction Account buck Debit MasterCard.

    conditions

    Ongoing bonus rate if during the month you make a weekly Tap & Go purchase with your ME Everyday Transaction Account buck Debit MasterCard.

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    More info

    • Savings Bank of the Year 2016
    • No minimum monthly deposit. Ongoing variable bonus rate
    • No monthly account-keeping fees
    • Standard interest rate: 1.30% p.a.(for $0 and over)
    • Account fee per month: $0.00
    • Access: Phone banking, Internet banking
    • Minimum balance: $0.00
    • Other restrictions: Must link to a transaction account
    Overall rating

    8.1

    Based on 119 ME savings account reviews

    Need more information?
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  • ING DIRECT Savings Maximiser

    ING DIRECT Savings Maximiser

    • No ING DIRECT fees
    • Great variable rate every month, no matter how many times you withdraw
    • Anytime, anywhere banking with mobile app and 24/7 Australian call centre

    special rate

    3.00% p.a. (for $0 to $100,000)

    For customers who also have an Orange Everyday and deposit their pay of $1,000+ each month.

    conditions

    For customers who also have an Orange Everyday and deposit their pay of $1,000+ each month.

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    • No ING DIRECT fees
    • Great variable rate every month, no matter how many times you withdraw
    • Anytime, anywhere banking with mobile app and 24/7 Australian call centre
    • Standard interest rate: 1.50% p.a.(for $0 and over)
    • Account fee per month: $0.00
    • Access: Phone banking, Internet banking
    • Minimum balance: $0.00
    • Other restrictions: Must link to a transaction account
    Overall rating

    9.2

    Based on 428 ING DIRECT savings account reviews

    Need more information?
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  • Bank Australia Bonus Saver

    Bank Australia Bonus Saver

    • High interest rate of up to 2.60%p.a.
    • Bonus interest
    • Access to your savings

    special rate

    2.60% p.a. (for $1 and over)

    minimum deposit $100, no withdrawals

    conditions

    Minimum deposit of $100 and no withdrawals in the month

    Go to site

    More info

    • High interest rate of up to 2.60%p.a.
    • Bonus interest
    • Access to your savings
    • Standard interest rate: 0.15% p.a.(for $1 and over)
    • Account fee per month: $0.00
    • Access: BPay, Branch access, Phone banking, Internet banking
    • Minimum balance: $0.00
    • Other restrictions:
    Overall rating

    7.5

    Based on 35 Bank Australia savings account reviews

    Need more information?
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    More info

  • NAB iSaver

    NAB iSaver

    • Unlimited transfers between your iSaver & linked NAB everyday account
    • Transfers won’t impact your interest rate
    • Interest is calculated daily & paid monthly. No minimum deposits

    special rate

    1.90% p.a. (for $0 to $20,000,000)

    Bonus rate for the first 4 months from account opening. Introductory rate only applied to a customer's first NAB iSaver account.

    conditions

    Bonus rate for the first 4 months from account opening. Introductory rate only applied to a customers first NAB iSaver account.

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    More info

    • Unlimited transfers between your iSaver & linked NAB everyday account
    • Transfers won’t impact your interest rate
    • Interest is calculated daily & paid monthly. No minimum deposits
    • Standard interest rate: 1.20% p.a.(for $0 and over)
    • Account fee per month: $0.00
    • Access: Phone banking, Internet banking
    • Minimum balance: $0.00
    • Other restrictions: Must link to an eligible NAB everyday account.
    Overall rating

    8.3

    Based on 1916 NAB savings account reviews

    Need more information?
    Go to site

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  • ANZ Progress Saver

    ANZ Progress Saver

    • Earn bonus interest when no withdrawals in the month
    • No monthly account fee
    • Automated transfers from your everyday account to your savings account each month

    special rate

    1.81% p.a. (for $0 and over)

    Minimum deposit of $10 and no withdrawals in the month

    conditions

    Minimum deposit of $10 and no withdrawals in the month

    Go to site

    More info

    • Earn bonus interest when no withdrawals in the month
    • No monthly account fee
    • Automated transfers from your everyday account to your savings account each month
    • Standard interest rate: 0.01% p.a.(for $0 and over)
    • Account fee per month: $0.00
    • Access: Branch access, Phone banking, Internet banking
    • Minimum balance: $10.00
    • Other restrictions:
    Overall rating

    7.7

    Based on 2117 ANZ savings account reviews

    Need more information?
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    More info

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