Long term savings accounts

A good savings habit deserves a good interest rate and choosing the right savings account can help you super-size your nest egg in record time through the power of compound interest.

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How much can (and should) I be saving?

Money experts say we should put aside 10% of everything we earn into savings. But chances are you can do better than that! Work out how much you can save with our savings calculator, or where you could be saving more with our handy budgeting calculator.

How do I find the best high interest rate savings account?

Finding the best ongoing high interest savings account for your needs is really easy with Mozo’s savings account search tool. Or, see below for a selection of some of the most popular high standard rate offers out there right now."

Long term savings account comparisons on Mozo - rates updated daily

Want more? Compare all 217 savings accounts in the Mozo comparison engine.

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Savings Account Resources

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

Long term savings and must read FAQs

We all know the value of saving money, and building up a nest egg of long-term savings should be a financial priority for any money savvy Aussie. But when you're in it for the long haul, finding the perfect place to stash your cash is super important. So to help you on your search for the right savings account, we’ve answered some commonly asked questions about long term savings accounts in Australia.

What is the minimum amount I need to deposit into my long term savings account?

What is the difference between a standard and bonus interest rate?

What features should I look for in a long term savings account?

How can I withdraw money from my savings account?

What happens if the rate on my long term savings account is cut?

Is a savings account a good long term savings strategy?

What alternatives are there to long term savings accounts?

Savings Account Reviews

Bank of Queensland
Bank of Queensland savings account review
Overall
10/10
Great customer service

Owner run business and friendly service which makes me feel like I am a person not an account....

Owner run business and friendly service which makes me feel like I am a person not an account. Branches over an hour away for me, but I have received excellent service/ support by phone until I can access a branch.

Price
9/10
Features
9/10
Customer service
10/10
Convenience
10/10
Trust
10/10

Anne | Victoria

reviewed about 1 month ago

Bank of Queensland
Bank of Queensland savings account review
Overall
10/10
Great customer service

Owner run business and friendly service which makes me feel like I am a person not an account....

Owner run business and friendly service which makes me feel like I am a person not an account. Branches over an hour away for me, but I have received excellent service/ support by phone until I can access a branch.

Price
9/10
Features
9/10
Customer service
10/10
Convenience
10/10
Trust
10/10

Anne | Western Australia

reviewed about 1 month ago

BankSA
BankSA savings account review
Overall
6/10
Good for students not so much for businesses

BankSA has great customer service and has ATMs literally everywhere. Where they miss the point is...

BankSA has great customer service and has ATMs literally everywhere. Where they miss the point is the delay it takes to transact a payment.

Price
5/10
Features
4/10
Customer service
8/10
Convenience
7/10
Trust
8/10

Nemeem | New South Wales

reviewed about 1 month ago

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