interest rates savings accounts

Savings accounts

Interest rates savings account comparisons on Mozo - last updated 23 June 2021

Search promoted savings accounts below or do a full Mozo database search. Advertiser disclosure.
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    Mozo Experts Choice 2021
    Bonus Saver Account

    Maximum rate
    standard interest rate
    Govt Deposit Guarantee
    1.20% p.a. (for $0 to $250,000)
    0.10% 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 Everyday or Glide transaction accounts.

    Winner of a Mozo Experts Choice Award 2021 in the Regular Saver category. No monthly account fees and no minimum balance requirements.

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    Boost Saver with Go Account

    Maximum rate
    standard interest rate
    Govt Deposit Guarantee
    1.20% p.a. (for $0 to $250,000)
    0.10% p.a.(for $0 and over)
    Yes up to $250,000

    Deposit $2,000 each month and make 5 eligible payments from your Go Account. If you are between 18 and 25 deposit $1,000.

    Enjoy a savings account bundled with a spending account. New customers can earn up to 5000 bonus Virgin Money points on purchases (conditions apply). Benefit together with a joint account

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    Grow Saver

    Maximum rate
    standard interest rate
    Govt Deposit Guarantee
    0.65% p.a. (for $0 and over)
    0.10% p.a.(for $0 and over)
    Yes up to $250,000

    Make at least 1 deposit and no more than 1 withdrawal, including internal transfers or external payments.

    Earn a maximum interest rate of 0.65% per year. Pay no monthly fees. Set up in-app savings goals. Benefit with joint account options.

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    Serious Saver

    Maximum rate
    standard interest rate
    Govt Deposit Guarantee
    0.30% p.a. (for $0 to $1,000,000)
    0.15% p.a.(for $0 and over)
    Yes up to $250,000

    Bonus rate for first 3 months, reverting to 0.15% rate after

    $0 monthly account fee. Link to any Australian bank account.

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    Fast Track Saver Account

    Maximum rate
    standard interest rate
    Govt Deposit Guarantee
    1.05% p.a. (for $1 to $250,000)
    0.05% p.a.(for $1 and over)
    Yes up to $250,000

    Ongoing bonus rate applied if in the previous month $1,000 or more is credited to the linked Day2Day Plus account and 5 eligible transactions are made by the linked account.

    Earn 1.05% p.a. Bonus Interest in the following month on your Fast Track Saver Account balance. Earn Bonus Interest on your savings, with no minimum balance required.

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    Hero Saver

    Maximum rate
    standard interest rate
    Govt Deposit Guarantee
    0.70% p.a. (for $0 to $250,001)
    0.01% p.a.(for $0 to $5,000,000)
    Yes up to $250,000

    Minimum deposit of $200 and no withdrawals in the month.

    Interest is calculated daily and paid monthly. Automatic payment feature. No minimum opening balance needed.

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    Online Saver

    Maximum rate
    standard interest rate
    Govt Deposit Guarantee
    1.10% p.a. (for $0 to $500,000)
    0.35% p.a.(for $0 and over)
    Yes up to $250,000

    Bonus rate for the first 4 months from account opening

    No account keeping fees. No minimum balance required. Unlimited phone and internet transactions.

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    Flexi Saver

    Maximum rate
    standard interest rate
    Govt Deposit Guarantee
    0.25% p.a. (for $0 to $5,000,000)
    0.05% p.a.(for $0 to $5,000,000)
    Yes up to $250,000

    Increase balance by at least $300 in the month

    No upfront or ongoing fees. Unlimited free transactions. Great for regular contributions.

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^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.

Savings account resources

Reviews, news, tips and guides to help find the best savings account for you.

FAQ

Savings Account Reviews

ANZ Savings Account review
Overall 1/10
ANZ = YUK

ANZ = WORST BANK I have had the misfortune to experience. The Kotara (NSW) branch is the WORST! I was very happy to end my dealings with the ANZ & would not recommend nor go back even if they offered me millions. DREADFUL!

Read full review

ANZ = WORST BANK I have had the misfortune to experience. The Kotara (NSW) branch is the WORST! I was very happy to end my dealings with the ANZ & would not recommend nor go back even if they offered me millions. DREADFUL!

Price
1/10
Features
1/10
Customer service
1/10
Convenience
1/10
Trust
1/10
Less
Sandy, New South Wales, reviewed 29 days ago
St.George Incentive Saver Account review
Overall 1/10
Flood grant

I have been banking with them for 27 years I worked and iI have hereditary polycystic Kidney failure on dialysis I lost everything in the floods they helped others but not me claiming that it's ended. It's still on there page I'm disgusted and almost having a breakdown I have no fridge but an esky. Nothing they say it's closed but it isn't I'm changing banks.

Read full review

I have been banking with them for 27 years I worked and iI have hereditary polycystic Kidney failure on dialysis I lost everything in the floods they helped others but not me claiming that it's ended. It's still on there page I'm disgusted and almost having a breakdown I have no fridge but an esky. Nothing they say it's closed but it isn't I'm changing banks.

Price
1/10
Features
1/10
Customer service
1/10
Convenience
1/10
Trust
1/10
Less
Melissa, New South Wales, reviewed 30 days ago
ME Online Savings Account review
Overall 10/10
THE BANK TO BANK WITH

Great Bank, great Staff, fantastic service

Read full review

Great Bank, great Staff, fantastic service

Price
10/10
Features
10/10
Customer service
10/10
Convenience
10/10
Trust
10/10
Less
Francis, Victoria, reviewed 30 days ago

More savings account reviews

Savings account guides

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How to create a budget

A budget is really handy to have, whether you constantly find yourself low on funds or just never seem to be able to save up enough cash to pay for that shiny new kitchen appliance you’ve been cove...

Piggy Banks Savings
Savings accounts vs term deposits

Where’s the best place to stash your cash and earn interest? In a shoebox box hidden under your bed, in a savings account or a term deposit? There’s no right or wrong answer, but if you’re looking ...

Emergency Savings Min (1)
Mozo’s guide to a F*** Off Fund: why it’s time to start building your emergency savings

We’ve all been there: a bad boss, dodgy landlord or love affair gone wrong and suddenly, you need to get out fast. But that’s not always an easy thing to do, especially if you don’t have the cash t...

Joint Account Min
Joint savings accounts

Are you living with your partner and sick of having to pay joint bills with separate bank accounts? Do you both have the same goals for your money? Can you be pretty confident your partner isn’t go...

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Calculators

Savings goal calculator

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Savings calculator

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