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 17 June 2021

    Search promoted savings accounts below or do a full Mozo database search. Advertiser disclosure.
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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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      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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      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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      Fast Track Starter Account

      14 to 24 years

      Maximum rate
      standard interest rate
      Govt Deposit Guarantee
      3.00% p.a. (for $1 to $10,000)
      0.05% p.a.(for $1 and over)
      Yes up to $250,000

      Ongoing bonus rate applied and 5 eligible transactions are made by the linked accountif in the previous month $200 or more is credited to the linked Day2Day Plus account.

      3.00 %P.A. Bonus Interest on balances up to $10,000 when the Bonus Criteria is met. Free withdrawals to your linked Day2Day Account while still earning Bonus Interest. Only available between the ages of 14 - 24 years.

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