Boasting an introductory variable rate of 1.10% for the first four months (on balances of up $250,000) and a base rate of 0.95% depending on your balance, the Macquarie Savings Account offers some highly competitive rates for different balances.
On top of all this, Macquarie's Savings Account scooped up not one, but two 2021 Mozo Experts Choice Awards! It received awards for best Kick Start Savings and best No Strings Savings Account.
Macquarie’s Savings Account could be ideal if you’re looking for a quick boost to your savings. For the first four months you’ll receive one of the highest introductory rates on the market at 1.10%, which is available on balances of up to $250,000. Balances above that figure will still receive an interest rate during the introductory period, but it will be one of the two below (depending on the balance).
And that’s not all, after the honeymoon period comes to an end Macquarie's Savings Account continues to offer competitive ongoing rates. Just be mindful the ongoing rate you receive will depend on your savings balance:- Balances between $0-$250,000 will receive an interest rate of 0.95%
- Balances of $250,000 and above will receive an interest rate of 0.70%
Don’t like forking out for account keeping fees? The good news is that Macquarie’s Savings Account doesn’t cost a cent. Just keep in mind that you must have an existing Macquarie Transaction Account (or open one in your name) to qualify.
Savers looking for a savings account that offers competitive rates without the strings attached (like regular or minimum deposits for instance).
Keep in mind that the 1.10% introductory rate only applies to the first $250,000 deposited, meaning any additional funds in your account will accrue interest at the lower ongoing rate.
| Balances from $0: 0.95% p.a. | |
| Balances from $0: 1.10% p.a. | |
| Bonus variable rate is available for the first four months. |
| $0.00 | |
| n/a | |
| Unlimited transactions from phone, internet and BPay | |
| n/a | |
| n/a | |
| n/a | |
| n/a | |
| n/a | |
| n/a | |
| $0.00 | |
| $0.00 | |
| n/a |
| $0.00 | |
| $0.00 | |
| Monthly |
| no | |
| none | |
| no | |
| no | |
| no | |
| no | |
| no | |
| yes | |
| yes | |
| no | |
| no | |
| Must have a Macquarie Transaction Account to link with. | |
| none | |
| none |
New limits brought in, but not for BPAY. 1st BPAY after, the limit IS applied. Must be the only bank in August which can't temp increase a limit while the customer is on the phone to them.
Read full reviewNew limits brought in, but not for BPAY. 1st BPAY after, the limit IS applied. Must be the only bank in August which can't temp increase a limit while the customer is on the phone to them.
Terrific incentive offered. Very easy to deal with. Online offering is excellent.
Read full reviewTerrific incentive offered. Very easy to deal with. Online offering is excellent.
Come to Macquarie chasing higher interest rates, got a great 4 month intro rate on their savings account which has since ended, however their ongoing rate is still good. It's a normal savings account with a great rate, no nonus interest rates for making additional deposits, just set and forget. Only downside is that you must also have a transaction account, however, this also earns interest and has no fees! Crazy! I am still with my former bank, but if they ever slip up, Macquarie will get the lot. I really can't comment on their staff as I have never had to talk to any of them.
Read full reviewCome to Macquarie chasing higher interest rates, got a great 4 month intro rate on their savings account which has since ended, however their ongoing rate is still good. It's a normal savings account with a great rate, no nonus interest rates for making additional deposits, just set and forget. Only downside is that you must also have a transaction account, however, this also earns interest and has no fees! Crazy! I am still with my former bank, but if they ever slip up, Macquarie will get the lot. I really can't comment on their staff as I have never had to talk to any of them.
Macquarie's savings account was very easy to set up online as well as the everyday transaction account and both are also very easy to use for all my banking needs.
Read full reviewMacquarie's savings account was very easy to set up online as well as the everyday transaction account and both are also very easy to use for all my banking needs.
Virgin Money
Boost Saver with Go Account
1.50% p.a. (for $0 to $250,000)
0.10% p.a.(for $0 and over)
Yes up to $250,000
MyState Bank
Bonus Saver Account
1.10% p.a. (for $0 to $250,000)
0.05% p.a.(for $0 and over)
Yes up to $250,000
Citi
Online Saver
1.10% p.a. (for $0 to $500,000)
0.35% p.a.(for $0 and over)
Yes up to $250,000
Virgin Money
Grow Saver
0.65% p.a. (for $0 and over)
0.10% p.a.(for $0 and over)
Yes up to $250,000
Bank of Queensland
Fast Track Saver Account
1.05% p.a. (for $1 to $250,000)
0.05% p.a.(for $1 and over)
Yes up to $250,000
Bank of Queensland
WebSavings Account
1.00% p.a. (for $2,000 and over)
0.05% p.a.(for $2,000 and over)
Yes up to $250,000
ING
Savings Maximiser
1.35% p.a. (for $0 to $100,000)
0.05% p.a.(for $0 and over)
Yes up to $250,000
Rabobank
High Interest Savings Account
1.35% p.a. (for $0 to $250,001)
0.25% p.a.(for $0 to $250,001)
Yes up to $250,000
Virgin Money
Boost Saver with Go Account
1.50% p.a. (for $0 to $250,000)
0.10% p.a.(for $0 and over)
Yes up to $250,000
MyState Bank
Bonus Saver Account
1.10% p.a. (for $0 to $250,000)
0.05% p.a.(for $0 and over)
Yes up to $250,000
Citi
Online Saver
1.10% p.a. (for $0 to $500,000)
0.35% p.a.(for $0 and over)
Yes up to $250,000
HSBC
Serious Saver
0.30% p.a. (for $0 to $1,000,000)
0.15% p.a.(for $0 and over)
Yes up to $250,000
Bank of Queensland
Fast Track Saver Account
1.05% p.a. (for $1 to $250,000)
0.05% p.a.(for $1 and over)
Yes up to $250,000
Virgin Money
Grow Saver
0.65% p.a. (for $0 and over)
0.10% p.a.(for $0 and over)
Yes up to $250,000
ING
Savings Maximiser
1.35% p.a. (for $0 to $100,000)
0.05% p.a.(for $0 and over)
Yes up to $250,000
Rabobank
High Interest Savings Account
1.35% p.a. (for $0 to $250,001)
0.25% p.a.(for $0 to $250,001)
Yes up to $250,000
Virgin Money
Boost Saver with Go Account
0.10% p.a.(for $0 and over)
1.50% p.a. (for $0 to $250,000)
Yes up to $250,000
MyState Bank
Bonus Saver Account
0.05% p.a.(for $0 and over)
1.10% p.a. (for $0 to $250,000)
Yes up to $250,000
Citi
Online Saver
0.35% p.a.(for $0 and over)
1.10% p.a. (for $0 to $500,000)
Yes up to $250,000
Virgin Money
Grow Saver
0.10% p.a.(for $0 and over)
0.65% p.a. (for $0 and over)
Yes up to $250,000
Bank of Queensland
Fast Track Saver Account
0.05% p.a.(for $1 and over)
1.05% p.a. (for $1 to $250,000)
Yes up to $250,000
Bank of Queensland
WebSavings Account
0.05% p.a.(for $2,000 and over)
1.00% p.a. (for $2,000 and over)
Yes up to $250,000
ING
Savings Maximiser
0.05% p.a.(for $0 and over)
1.35% p.a. (for $0 to $100,000)
Yes up to $250,000
Rabobank
High Interest Savings Account
0.25% p.a.(for $0 to $250,001)
1.35% p.a. (for $0 to $250,001)
Yes up to $250,000