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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

  • promoted

    Savings Maximiser

    • No ING 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

    2.80% p.a. (for $0 to $100,000)

    For customers who have an Orange Everyday and deposit at least $1,000 from an external bank account each month (and from 1 March 2018, 5 card purchases per month)

    Standard
    interest rate

    1.35% p.a.(for $0 and over)

    Account
    fee per month

    $0.00

  • promoted

    Online Saver

    • Flexible high interest savings account plus exclusive online bonus interest offer for 3 months. Limited time only
    • Interest calculated daily and paid monthly
    • No minimum balance, no withdrawal fees and no fixed term requirements

    special
    rate

    2.55% p.a. (for $0 and over)

    Bonus rate for the first 3 months from account opening. The bonus rate offer is only available to new ANZ Online Saver customers who have not held an ANZ Online Saver account during the last 6 months, and apply online.

    Standard
    interest rate

    0.80% p.a.(for $0 and over)

    Account
    fee per month

    $0.00

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