Your selected savings accounts
Transfer a minimum of $1,000 into your linked Everyday Account and make 5 eligible transactions. Bonus interest criteria waived for account holders 14-17 years of age.
Enjoy bonus interest each month when you meet the criteria. No monthly fees. Open an account in minutes. Open up to 9 accounts. Transaction round-up for faster saving. Personalised insights and goal tracking. For customers aged 14-35 years.
Enjoy bonus interest each month when you meet the criteria. No monthly fees. Open an account in minutes. Open up to 9 accounts. Transaction round-up for faster saving. Personalised insights and goal tracking. For customers aged 14-35 years.
Read our Mozo Review to learn more about the Future Saver Account - 14 to 35 years
Minimum deposit of at least $250 in the previous month.
An ongoing total variable bonus rate of up to 1.35% per annum will apply each month if you deposit $250 in the previous month. Available only on balances up to $250,000. AMP Bank, winner of the Mozo Experts Choice Awards 2022 in the Savings category.^
An ongoing total variable bonus rate of up to 1.35% per annum will apply each month if you deposit $250 in the previous month. Available only on balances up to $250,000. AMP Bank, winner of the Mozo Experts Choice Awards 2022 in the Savings category.^
Read our Mozo Review to learn more about the AMP Saver Account
Bonus rate for the first 4 months from account opening
Kick start your savings with the 4 month introductory variable rate. No fees, no minimum balance, no minimum monthly deposit and no minimum term.
Kick start your savings with the 4 month introductory variable rate. No fees, no minimum balance, no minimum monthly deposit and no minimum term.
Read our Mozo Review to learn more about the High Interest Savings Account
3.25% p.a. interest rate on balances up to $5,000; 1.00% p.a. interest rate on balance over $5,000. $0 monthly account fees to pay. Add and withdraw your savings without affecting your interest rate. Comes with an Everyday Youth Account. Available to applicants aged 10 to 17 only.
3.25% p.a. interest rate on balances up to $5,000; 1.00% p.a. interest rate on balance over $5,000. $0 monthly account fees to pay. Add and withdraw your savings without affecting your interest rate. Comes with an Everyday Youth Account. Available to applicants aged 10 to 17 only.
Read our Mozo Review to learn more about the Youth eSaver
Bonus rate when at least $20 is deposited each month and five Visa Debit transactions are made each month using linked Glide transaction account.
Winner of a Mozo Experts Choice Award 2022 in the Regular Saver category. No monthly account fees. Available only on balances up to $250,000.
Winner of a Mozo Experts Choice Award 2022 in the Regular Saver category. No monthly account fees. Available only on balances up to $250,000.
Read our Mozo Review to learn more about the Bonus Saver Account
Transfer a minimum of $1,000 into your linked Everyday Account and make 5 eligible transactions.
BOQ’s high interest savings account lets you enjoy bonus interest each month when you meet the criteria. No monthly fees. Link up to 9 eligible transaction accounts. Round up your transactions. For customers aged 36 years and over. Apply in minutes.
BOQ’s high interest savings account lets you enjoy bonus interest each month when you meet the criteria. No monthly fees. Link up to 9 eligible transaction accounts. Round up your transactions. For customers aged 36 years and over. Apply in minutes.
Read our Mozo Review to learn more about the Smart Saver Account
^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.
Easy, fast online banking. No fees, high interest on savings accounts, has all the features of the big 4 without the hidden fees!
Read full reviewEasy, fast online banking. No fees, high interest on savings accounts, has all the features of the big 4 without the hidden fees!
My business savings account was closed, without my permission or without informing me. I've contacted AMP on multiple occasions via phone and email - as they have no branches - and was repeatedly given incorrect information by various agents about what had happened to my funds and how I could retrieve my funds. I am asked to fill out forms that I already completed upon opening the account, I am told to email the forms, then after weeks of no reply, I call up to hear the forms need to be posted. Again weeks go by without response. I call up again to then be told I need to fill out a whole other set of forms. Long story short, I have been trying to get my funds back for the past 6 months and haven't gotten anywhere. The bank does not even get back to me. This is unacceptable. I feel I am dealing with scammers, not a financial institution. I do not know where my funds are and when (if at all) I will receive my funds back.
Read full reviewMy business savings account was closed, without my permission or without informing me. I've contacted AMP on multiple occasions via phone and email - as they have no branches - and was repeatedly given incorrect information by various agents about what had happened to my funds and how I could retrieve my funds. I am asked to fill out forms that I already completed upon opening the account, I am told to email the forms, then after weeks of no reply, I call up to hear the forms need to be posted. Again weeks go by without response. I call up again to then be told I need to fill out a whole other set of forms. Long story short, I have been trying to get my funds back for the past 6 months and haven't gotten anywhere. The bank does not even get back to me. This is unacceptable. I feel I am dealing with scammers, not a financial institution. I do not know where my funds are and when (if at all) I will receive my funds back.
Accounts to suit everyone’s needs with affordable fees and excellent customer service.
Read full reviewAccounts to suit everyone’s needs with affordable fees and excellent customer service.
Your selected savings accounts