Savings accounts

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interest rates savings accounts

Interest rates savings account comparisons on Mozo - last updated 25 April 2024

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  • Mozo Expert Choice Badge
    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

    Bonus rate for the first 4 months from account opening

    Reward yourself with a higher rate for your good savings habits with the Rabobank High Interest Savings Account . Receive the maximum rate when you grow your balance by at least $200 each month. No Account keeping fees. No minimum balance.

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  • 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

    Bonus variable rate is available for the first four months.

    Competitive introductory variable rate for first 4 months (on deposits up to $250,000). No account keeping fees to pay. Multiple 2023 Mozo Experts Choice Award winner.

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  • High Interest Save Account

    5.10% p.a. (for $0 to $250,000)

    0.10% p.a.(for $0 and over)

    Yes up to $250,000

    Deposit at least $200 to either Spend, Bills or Save account from an external source each month.

    No monthly fees on any of your save accounts. Split your money with up to 10 Save accounts. Set savings targets and track the progress of all your Save accounts. Deposits guaranteed up to $250K per customer.

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  • Mozo Expert Choice Badge
    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

    Enjoy a bonus rate when you deposit at least $1000 per month with the AMP Saver Account.

    No account fees. Unlimited transactions when linked to an AMP Bank transaction account. Easy online access to your money. Option to link your savings account to an everyday transaction account. 2024 Mozo Experts Choice Award winner.

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  • Savings+Bonus

    5.00% p.a. (for $0 to $250,000)

    2.00% p.a.(for $0 to $250,000)

    Yes up to $250,000

    Minimum $100 monthly deposit and no withdrawals to earn bonus interest each month.

    Earn a generous interest rate on your at-call savings (T&Cs apply). Interest is calculated daily and paid to you monthly. A $5 monthly membership fee will not apply if your total account balances with First Option Bank exceed $1,000 or you have a credit card or loan with the bank.

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  • 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

    Intro bonus rate of 5.25% for balances up to $1,000,000 for the first 4 months, reverting to 3.25%. Minimum deposit of $50 and no withdrawals.

    Introductory bonus rate for balances up to $1,000,000 for the first 4 months. Minimum deposit of $50 and no withdrawals. Start your account online in under 10 minutes and earn interest on balances up to $1,000,000 (T&Cs apply). No monthly account fees, helping you save smarter and faster.

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  • Bonus Saver Account

    5.00% p.a. (for $0 to $250,000)

    0.05% 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 Glide transaction account.

    Start saving and earn interest with just a $20 deposit and make 5 eligible transactions each month. No fees or penalties for withdrawing money.

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^See information about the Mozo Experts Choice Savings accounts Awards

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Savings account resources

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

Savings Account Reviews

ANZ Plus ANZ Save
Overall 5/10
Be careful

While ANZ Plus has many appealing features. Along with its highly competitive interest rate, another plus is that there is no minimum monthly deposit required in order to achieve interest. You can also make withdrawals without forfeiting interest, there is one aspect I really don't respect is that their condition on paying interest, which states: "We pay interest into your ANZ Save Account on the last Business Day of each month. It will generally include interest up to (but excluding) that day". This is outrageous. I have never experienced another bank which does it this way and only discovered it when I noticed that my interest for the month of March was much lower than expected. This was a result of Easter falling at the end of March, so I effectively lost 3 full days of interest. After checking the calendar I've discovered that my interest would be affected in this way in June, August and November 2024. Consequently, I am moving my money to a bank with very similar rates who pay interest on the full month. I feel there is no reason for this "feature". It is not commonplace practice and certainly not a good way to do business, particularly in terms of gaining trust. Although it is outlined in the terms, I feel that most people wouldn't even be aware of this.

Read full review

While ANZ Plus has many appealing features. Along with its highly competitive interest rate, another plus is that there is no minimum monthly deposit required in order to achieve interest. You can also make withdrawals without forfeiting interest, there is one aspect I really don't respect is that their condition on paying interest, which states: "We pay interest into your ANZ Save Account on the last Business Day of each month. It will generally include interest up to (but excluding) that day". This is outrageous. I have never experienced another bank which does it this way and only discovered it when I noticed that my interest for the month of March was much lower than expected. This was a result of Easter falling at the end of March, so I effectively lost 3 full days of interest. After checking the calendar I've discovered that my interest would be affected in this way in June, August and November 2024. Consequently, I am moving my money to a bank with very similar rates who pay interest on the full month. I feel there is no reason for this "feature". It is not commonplace practice and certainly not a good way to do business, particularly in terms of gaining trust. Although it is outlined in the terms, I feel that most people wouldn't even be aware of this.

Price
8/10
Features
6/10
Customer service
2/10
Convenience
5/10
Trust
2/10
Less
Mel, New South Wales, reviewed 23 days ago
ING Savings Account
Overall 10/10
Amazing bank , great communication and product

ING is a great bank. They have great customer service and are easily contactable when needed assistance. It provides an easy option for people who do not have time to visit a bank front as it is run online. I can not find any negatives with the bank, and have been with them for many years and will be for as long as needed.

Read full review

ING is a great bank. They have great customer service and are easily contactable when needed assistance. It provides an easy option for people who do not have time to visit a bank front as it is run online. I can not find any negatives with the bank, and have been with them for many years and will be for as long as needed.

Price
10/10
Features
10/10
Customer service
10/10
Convenience
10/10
Trust
10/10
Less
Jasmine, Victoria, reviewed 23 days ago
Bendigo Bank EasySaver Account
Overall 10/10
Good sevice

They are always looking out for me

Read full review

They are always looking out for me

Price
10/10
Features
10/10
Customer service
10/10
Convenience
10/10
Trust
10/10
Less
Ian, Queensland, reviewed 23 days ago

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