Your selected savings accounts
5.35% p.a. (for $0 to $250,000)
4.75% p.a.(for $0 to $1,000,000)
Yes up to $250,000
Bonus variable rate is available for the first four months.
Competitive introductory variable rate for first 4 months (on deposits up to $250,000). No account keeping fees to pay. Multiple 2023 Mozo Experts Choice Award winner.
Competitive introductory variable rate for first 4 months (on deposits up to $250,000). No account keeping fees to pay. Multiple 2023 Mozo Experts Choice Award winner.
Read our Mozo Review to learn more about the Macquarie Savings Account
Your selected savings accounts
5.10% p.a. (for $0 to $250,000)
0.10% p.a.(for $0 and over)
Yes up to $250,000
Deposit at least $200 to either Spend or Save account from an external source each month.
No monthly fees on any of your save accounts. Split your money with up to 10 Save accounts. Set savings targets and track the progress of all your Save accounts. Deposits guaranteed up to $250K per customer.
No monthly fees on any of your save accounts. Split your money with up to 10 Save accounts. Set savings targets and track the progress of all your Save accounts. Deposits guaranteed up to $250K per customer.
Read our Mozo Review to learn more about the ubank High Interest Save Account
Your selected savings accounts
5.25% p.a. (for $0 to $1,000,000)
0% p.a.(for $0 and over)
Yes up to $250,000
Intro bonus rate of 5.25% for balances up to $1,000,000 for the first 4 months, reverting to 3.25%. Minimum deposit of $50 and no withdrawals.
Introductory bonus rate for balances up to $1,000,000 for the first 4 months. Minimum deposit of $50 and no withdrawals. Start your account online in under 10 minutes and earn interest on balances up to $1,000,000 (T&Cs apply). No monthly account fees, helping you save smarter and faster.
Introductory bonus rate for balances up to $1,000,000 for the first 4 months. Minimum deposit of $50 and no withdrawals. Start your account online in under 10 minutes and earn interest on balances up to $1,000,000 (T&Cs apply). No monthly account fees, helping you save smarter and faster.
Read our Mozo Review to learn more about the IMB Bank Reward Saver Account
Your selected savings accounts
5.75% p.a. (for $0 to $250,001)
4.40% p.a.(for $0 to $250,001)
Yes up to $250,000
Bonus rate for the first 4 months from account opening
Reward yourself with a higher rate for your good savings habits with the Rabobank High Interest Savings Account . Receive the maximum rate when you grow your balance by at least $200 each month. No Account keeping fees. No minimum balance.
Reward yourself with a higher rate for your good savings habits with the Rabobank High Interest Savings Account . Receive the maximum rate when you grow your balance by at least $200 each month. No Account keeping fees. No minimum balance.
Read our Mozo Review to learn more about the Rabobank High Interest Savings Account
Your selected savings accounts
4.60% p.a. (for $0 to $250,001)
1.00% p.a.(for $0 to $5,000,001)
Yes up to $250,000
Minimum deposit of $200 and no withdrawals in the month.
Earn a generous variable rate on balances up to $250,001 each month you deposit at least $200 (excluding interest) on or before the last business day each month and make no withdrawals during the month. $0 account maintenance fees. Create a goal, set up regular deposits and track your progress on the Bankwest app.
Earn a generous variable rate on balances up to $250,001 each month you deposit at least $200 (excluding interest) on or before the last business day each month and make no withdrawals during the month. $0 account maintenance fees. Create a goal, set up regular deposits and track your progress on the Bankwest app.
Read our Mozo Review to learn more about the Bankwest Hero Saver
Your selected savings accounts
5.00% p.a. (for $0 to $250,000)
0.05% p.a.(for $0 and over)
Yes up to $250,000
Bonus rate when at least $20 is deposited each month and five Visa Debit transactions are made each month using linked Glide transaction account.
Start saving and earn interest with just a $20 deposit and make 5 eligible transactions each month. No fees or penalties for withdrawing money.
Start saving and earn interest with just a $20 deposit and make 5 eligible transactions each month. No fees or penalties for withdrawing money.
Read our Mozo Review to learn more about the MyState Bank Bonus Saver Account
Your selected savings accounts
5.20% p.a. (for $0 to $30,000)
2.00% p.a.(for $0 and over)
Yes up to $250,000
Make 5 eligible card purchases per month with a Westpac Choice account and min 1 deposit and higher balance than at the beginning of the month in Life savings account.
Are you 18 - 29 years of age? Earn up to a generous variable interest rate on your savings when you spend and save with Westpac. For individuals aged 18 to 29 on Westpac Life account balances up to $30,000.
Are you 18 - 29 years of age? Earn up to a generous variable interest rate on your savings when you spend and save with Westpac. For individuals aged 18 to 29 on Westpac Life account balances up to $30,000.
Read our Mozo Review to learn more about the Westpac Life - 18-29 years old
Your selected savings accounts
^See information about the Mozo Experts Choice Savings accounts Awards
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.
In the savings account world, banks reward customers with bonus interest rates when they meet certain conditions such as making a minimum monthly deposit, spending through a linked transaction account debit card and not making regular withdrawals.
With a bonus saver, interest on the account is generally calculated daily and paid on the last business day of every month.
Below we’ve outlined some of the key aspects of these accounts so you can compare bonus offers and read tips for getting the best return on your savings.
If you’re after a bonus saver account, it’s safe to say that you’re looking for high interest savings accounts. Of course, interest rates are always subject to change, so you’ll need to keep an eye on the market to make sure you’re always getting the best savings account interest. For a snapshot of current rates, plus a look at past and future trends, check out our savings account interest rates page. Alternatively, if you want to know what are some of the best high interest savings accounts in Australia, check out our Mozo Expert Choice Award page.
Bonus rates, promo rates, intro rate offers - every bank will use different jargon to explain bonus features. Below is a quick way on how to differentiate between them.
Competitive interest rate: Look for an account that will deliver you the best interest return on your investment. If you opt for an account with a high short-term intro rate also be sure to review the ongoing interest rate so that you don't see your savings plateau after the intro period ends.
No monthly fee: Make sure you pick an account that doesn’t charge you a monthly service fee or an online banking fee. When you compare savings accounts with Mozo, you'll be able to see major fees and features side-by-side.
Accessibility: If you are required to make monthly deposits to maintain the bonus interest rate, it is important that you can easily access and transfer funds to your account. Choose an account that gives you access to online banking, mobile banking or phone banking. The best option is to set up regular transfers to make sure you meet the bonus rate criteria.
You don't need to leave the comfort of your home to open a savings account. Most high interest savings account providers have the facility to set up your account completely online.
But there are some things you'll need to consider:
With some bonus saver accounts, you'll have conditions attached in order to get your bonus rate. It could be as simple as not making a withdrawal within a month, or you might need to make a minimum monthly deposit as well as a certain number of settled transactions via a linked transaction account.
Because each high interest savings account and each bank will have different requirements it is important that you know what these are before signing up. Otherwise, you may never get that juicy bonus interest and your money could have been better off parked in an account with a higher long term ongoing interest rate.
Luckily with online banking and mobile banking apps it is pretty easy to make sure that you do meet the requirements. Set up an automatic transfer so that you don't have to remember when to transfer your money across.
Money that is kept in any bonus saver account that's listed in the Mozo database is covered under the Australian Government's Deposit Guarantee Scheme, which covers you for deposits of up to $250,000 in case something goes awry with the banking institution.
As with any other banking products, you should still make sure that you are diligent and keep account passwords or pin numbers safe. If you do spot any unusual activity on your account you should notify your bank straight away.
I joined Bendigo Bank just a ver a year ago as my other local bank closed down. I am very happy with Bendigo Bank. The local branch is very convenient and the customer service is excellent. I don’t have a long wait on the phone if I need to call. The app is very user friendly and transactions are easy.
Read full reviewI joined Bendigo Bank just a ver a year ago as my other local bank closed down. I am very happy with Bendigo Bank. The local branch is very convenient and the customer service is excellent. I don’t have a long wait on the phone if I need to call. The app is very user friendly and transactions are easy.
customer service is excellent
Read full reviewI like NAB because they taken into account my unemployment status and waive my fees for me thanks Nab
Read full reviewI like NAB because they taken into account my unemployment status and waive my fees for me thanks Nab
Your selected savings accounts