Student savings accounts

  • When you're a student, money is generally pretty tight which is why getting the best return on your money is important. Rather than keep your money in an everyday account which earns little to no interest, a high interest savings account will help your account balance to grow faster. Most savings accounts are online and you can transfer money almost instantly if you need access fast. There are generally some conditions attached with savings accounts so before you sign up make sure that you read the criteria. Compare student savings options below. 

  • Student savings account comparisons on Mozo - last updated 8 March 2021

    Search promoted savings accounts below or do a full Mozo database search. Advertiser disclosure.
    • 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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    • 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

      No withdrawals in the month. Bonus rate for first 4 months, reverting to 0.15% rate after*

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

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    • Hero Saver

      Maximum rate
      standard interest rate
      Govt Deposit Guarantee
      0.80% 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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    • 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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