Boasting an introductory variable rate of 5.35% for the first four months (on balances of up $250,000) and a base rate of 4.75% depending on your balance, the Macquarie Savings Account offers some highly competitive rates for different balances.
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 5.30%, 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 4.75%
- Balances between $250,000-$1,000,000 will receive an interest rate of 4.75%
- Balances of above $1,000,000 will receive an interest rate of 3.35%
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 5.35% 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: 4.75% p.a. |
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Balances from $0: 5.35% p.a. |
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Bonus variable rate is available for the first four months. |
$0.00 |
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n/a |
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Unlimited transactions from phone, internet and BPay |
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n/a |
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n/a |
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n/a |
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n/a |
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n/a |
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n/a |
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$0.00 |
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$0.00 |
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n/a |
$0.00 |
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$0.00 |
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Monthly |
no |
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n/a |
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no |
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no |
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no |
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yes |
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no |
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yes |
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yes |
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yes |
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no |
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Must have a Macquarie Transaction Account to link with. |
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Purchase retail discounts. |
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none |
This is a great savings bank. It has great service and interest rates for saving.
Read full reviewThis is a great savings bank. It has great service and interest rates for saving.
Great savings account, best rate out there with no fees. Simple and I can withdraw money to my personal account super easily. Probably better interest rate then you're getting now!
Read full reviewGreat savings account, best rate out there with no fees. Simple and I can withdraw money to my personal account super easily. Probably better interest rate then you're getting now!
Great for a savings account. The rate is good on their savings account, and the online platform is good to use. I like that the savings account doesn’t make you have certain transactions to avoid monthly fees. This takes away unnecessary worry. I only need online services for savings account so the physical presence doesn’t impact me.
Read full reviewGreat for a savings account. The rate is good on their savings account, and the online platform is good to use. I like that the savings account doesn’t make you have certain transactions to avoid monthly fees. This takes away unnecessary worry. I only need online services for savings account so the physical presence doesn’t impact me.
In general, this bank is quite good, with low fees and good customer service. However, it would be even better if they provided more information on their website about which ATMs are available for use, as well as any hidden fees that they may not disclose upfront.
Read full reviewIn general, this bank is quite good, with low fees and good customer service. However, it would be even better if they provided more information on their website about which ATMs are available for use, as well as any hidden fees that they may not disclose upfront.
Great savings account because there are no hoops to jump through, no min. deposit, withdrawl, age limits or transactions. You just need a transaction account to make full use of the savings account. Easy to sign up and use the app.
Read full reviewGreat savings account because there are no hoops to jump through, no min. deposit, withdrawl, age limits or transactions. You just need a transaction account to make full use of the savings account. Easy to sign up and use the app.
Savings Account
5.35% p.a. (for $0 to $250,000)
4.75% p.a.(for $0 to $1,000,000)
Yes up to $250,000
High Interest Savings Account
5.75% p.a. (for $0 to $250,001)
4.40% p.a.(for $0 to $250,001)
Yes up to $250,000
Reward Saver Account
5.25% p.a. (for $0 to $1,000,000)
0% p.a.(for $0 and over)
Yes up to $250,000
Reward Saver
5.25% p.a. (for $0 to $100,000)
0.30% p.a.(for $0 and over)
Yes up to $250,000
AMP Saver Account
5.40% p.a. (for $0 to $250,000)
1.20% p.a.(for $0 to $5,000,000)
Yes up to $250,000
Save Account
5.10% p.a. (for $0 to $250,000)
0.10% p.a.(for $0 and over)
Yes up to $250,000
Hero Saver
4.60% p.a. (for $0 to $250,001)
1.00% p.a.(for $0 to $5,000,001)
Yes up to $250,000
High Interest Savings Account
5.75% p.a. (for $0 to $250,001)
Yes up to $250,000
4.40% p.a.(for $0 to $250,001)
Savings Account
5.35% p.a. (for $0 to $250,000)
Yes up to $250,000
4.75% p.a.(for $0 to $1,000,000)
Save Account
5.10% p.a. (for $0 to $250,000)
Yes up to $250,000
0.10% p.a.(for $0 and over)
AMP Saver Account
5.40% p.a. (for $0 to $250,000)
Yes up to $250,000
1.20% p.a.(for $0 to $5,000,000)
Reward Saver Account
5.25% p.a. (for $0 to $1,000,000)
Yes up to $250,000
0% p.a.(for $0 and over)
Hero Saver
4.60% p.a. (for $0 to $250,001)
Yes up to $250,000
1.00% p.a.(for $0 to $5,000,001)
Bonus Saver Account
5.00% p.a. (for $0 to $250,000)
Yes up to $250,000
0.05% p.a.(for $0 and over)
High Interest Savings Account
4.40% p.a.(for $0 to $250,001)
5.75% p.a. (for $0 to $250,001)
Yes up to $250,000
Reward Saver Account
0% p.a.(for $0 and over)
5.25% p.a. (for $0 to $1,000,000)
Yes up to $250,000
Reward Saver
0.30% p.a.(for $0 and over)
5.25% p.a. (for $0 to $100,000)
Yes up to $250,000
AMP Saver Account
1.20% p.a.(for $0 to $5,000,000)
5.40% p.a. (for $0 to $250,000)
Yes up to $250,000
Save Account
0.10% p.a.(for $0 and over)
5.10% p.a. (for $0 to $250,000)
Yes up to $250,000
Hero Saver
1.00% p.a.(for $0 to $5,000,001)
4.60% p.a. (for $0 to $250,001)
Yes up to $250,000
Bonus Saver Account
0.05% p.a.(for $0 and over)
5.00% p.a. (for $0 to $250,000)
Yes up to $250,000
Life - 18-29 years old
2.00% p.a.(for $0 and over)
5.20% p.a. (for $0 to $30,000)
Yes up to $250,000