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Bonus saver 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

  • Bank Australia Bonus Saver

    Bank Australia Bonus Saver

    • High interest rate of up to 2.80%p.a.
    • Bonus interest
    • Access to your savings

    special rate

    2.80% 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 2.80%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?
    Go to site

    More info

  • 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

    2.75% 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.

    Go to site

    More info

    • 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: 1.60% 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?
    Go to site

    More info

  • Bankwest Hero Saver

    Bankwest Hero Saver

    • No account keeping fees
    • No transaction fees
    • 100% secure application process

    special rate

    2.65% p.a. (for $0 to $250,000)

    Minimum deposit of $200 excluding interest and no withdrawals in the month

    conditions

    Minimum deposit of $200 excluding interest and no withdrawals in the month

    Go to site

    More info

    • No account keeping fees
    • No transaction fees
    • 100% secure application process
    • Standard interest rate: 0.01% p.a.(for $0 to $5,000,000)
    • Account fee per month: $0.00
    • Access: Phone banking, Internet banking
    • Minimum balance: $0.00
    • Other restrictions:
    Overall rating

    8.3

    Based on 417 Bankwest savings account reviews

    Need more information?
    Go to site

    More info

  • HSBC Serious Saver

    HSBC Serious Saver

    • No monthly fees
    • No minimum deposit
    • Apply online in under 10 minutes

    special rate

    2.25% p.a. (for $0 to $1,000,000)

    No withdrawals in the month. Bonus rate for first 4 months, reverting to 1.60% bonus rate after

    conditions

    No withdrawals in the month. Bonus rate for first 4 months, reverting to 1.60% bonus rate after

    Go to site

    More info

    • No monthly fees
    • No minimum deposit
    • Apply online in under 10 minutes
    • Standard interest rate: 0% 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. Maximum account balance is $1,000,000.
    Overall rating

    7.1

    Based on 45 HSBC savings account reviews

    Need more information?
    Go to site

    More info

  • 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

    1.91% 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?
    Go to site

    More info

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