Savings account providers

Most people have used a savings account of some kind, but how do you know which one is the best for your own personal needs? Here at Mozo we have an A-Z list of all the savings accounts on our database.

Some savings accounts are great for people who don’t want to think much about their money beyond depositing it in their account. However, you may be missing out on higher interest rates on your savings.

Basically, whilst some accounts only require you to deposit your money to start earning interest, there are accounts that offer conditional rates. Usually, savings accounts that require a certain criteria to be met often have higher interest rates as a result. 

What type of savings accounts are there? 

Savings accounts come in a variety of forms that may suit different savers better or worse depending on their account. For instance, a saver with more than $250,000 may not find ANZ saver plus as useful as a saver with less than that due to the change in interest rates that occurs above that amount. 

On the other hand, people who don’t want to bother with meeting what are often complicated conditions every month may be looking for a “fire and forget” kind of savings account.

Base rate 

Base rates are, essentially, the basic rate of interest that your provider gives you for your savings account. This is commonly used as a fallback interest rate for savings accounts that offer conditional rates. 

Introductory rate

An Introductory rate is exactly what you think it is. When you open a savings account with a provider for the first time, you’ll probably be given a high interest rate for a certain period of time, usually lasting anywhere from 3-6 months. 

Bonus rate

Your bonus rate is usually the additional interest you gain on your savings account for meeting the required conditional rate. Generally, there tends to be a prerequisite and/or a certain action that needs to be taken for this usually higher rate to be applied. 

One way that a bonus rate could work is:

  • You have a base rate of 0.5% but if you meet a condition (deposit a specific amount a month, use a connected credit card a number of times, etc,) that interest rate raises to 3.30%.

Cash management account

Generally, a cash management account is designed for individuals or businesses to manage their cash flow, savings, and investments all in one place. It typically offers higher interest rates, easier access to funds, and consolidated reporting for multiple accounts. 

Kids/youth savings account

A kids or youth savings account is an account that is aged locked with 12-18 years old being the common period. In place of a normal savings account, a kids or youth account will usually offer fairly competitive rates with low to no fees. Of course, the conditional aspect of these accounts is the age limit which will usually lead to a rollover to a normal account. 


abal banking AMP Bank ANZ ANZ Plus Australian Military Bank Australian Mutual Bank Australian Unity Auswide Bank

Bank Australia Bank First Bank of Melbourne Bank of Queensland Bank of Sydney Bank of us BankSA BankVic BankWAW Bankwest BCU Bank Bendigo Bank Beyond Bank BOQ Specialist

Coastline Credit Union Commonwealth Bank CommSec Community First Bank Credit Union SA

Defence Bank

Easy Street

Firefighters Mutual Bank First Option Bank

G&C Mutual Bank Gateway Bank GMCU Goldfields Money Great Southern Bank Greater Bank

Health Professionals Bank Heritage Bank HSBC Hume Bank

Illawarra Credit Union IMB Bank ING

Macquarie Macquarie Credit Union ME MOVE Bank MyState Bank

NAB Newcastle Permanent

Orange Credit Union

P&N Bank People's Choice Police Bank Police Credit Union

QBANK Qudos Bank Queensland Country Bank

Rabobank RACQ Bank Regional Australia Bank Rural Bank Rural Bank ONE

Southern Cross Credit Union St.George Summerland Bank Suncorp

Teachers Mutual Bank The Capricornian The Mutual Bank

ubank UniBank Unity Bank Up

Virgin Money