Australia’s best SMSF savings accounts: rated and revealed

By Kelly Emmerton · · 2 min read
Fact Checked
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For those who prefer to take a hands-on approach to super, this year’s Mozo Experts Choice SMSF Awards has revealed that online lenders are the way to go.

Mozo’s Savings Bank of The Year, online only provider ME, was among the winners in the best value base rate category with its Business Online Savings Account. Alongside it were the Online Savings Account from Arab Bank Australia and DIY Super High Interest Savings Account from RaboDirect.

The latter also took out an award for the best value introductory rate, while CUA took out a best ongoing bonus rates award with its eSaver Reward account.

To be eligible for an Experts Choice Award, the SMSF accounts had to have no monthly service fee, unlimited free internet transactions, no notice period for withdrawals and offer the option to link to accounts at any other banking institution.

You can check out the full list of winners in our Experts Choice SMSF Awards page here.

If you’d prefer to lock your super away for a set term, Mozo’s experts also crunched the numbers on the best SMSF term deposits. Like the Experts Choice best personal savings accounts, SMSF term deposits showed an overwhelming trend toward smaller online providers.

ME once again performed well, with its Business Term Deposit winning awards across all three categories, for short, medium and long term deposits. Other winners included:

Best value SMSF term deposit - short term (7 months or less)

Best value SMSF term deposit - medium term (8-13 months)

Best value SMSF term deposit - long term (2-5 years)

For the full list of winners, check out our Experts Choice SMSF Deposits Awards Page.

Term deposit comparisons on Mozo - last updated 26 April 2024

Search promoted term deposits below or do a full Mozo database search. Advertiser disclosure
  • Featured Product
    Term Deposit

    5.10% p.a.
    6 months

    $1,000

    Yes up to $250,000

    Great rates and incentives incl. 0.10% added loyalty bonus at renewal. Option to have interest paid to another bank. Winner of the Mozo Experts Choice Awards 2024^ for Term Deposits.

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  • Mozo Expert Choice Badge
    Term Deposit

    4.75% p.a.
    1 year

    $1,000

    Yes up to $250,000

    Enjoy a competitive fixed interest with the choice of 1 month to 5 year terms. Start with as little as $1,000. Interest paid monthly, quarterly, half yearly or yearly. Receive a 0.10% loyalty bonus when you automatically reinvest your Term Deposit before maturity. (Terms and Conditions apply)

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  • Online Term Deposit

    5.00% p.a.
    7 months

    $5,000

    Yes up to $250,000

    No set-up or account keeping fees. Deposits up to $250,000 per customer are guaranteed by the Australian Government. Mozo Experts Choice winner for Term Deposit 2022.

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  • Term Deposit

    4.80% p.a.
    9 months

    $1,000

    Yes up to $250,000

    Enjoy the certainty of a fixed interest rate combined with the convenience of online banking to set up and manage your term deposit at maturity. You can start investing from as little as $1,000 or up to $5,000,000.

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  • Mozo Expert Choice Badge
    Term Deposit

    4.85% p.a.
    6 months

    $1,000

    Yes up to $250,000

    Enjoy a competitive fixed interest with the choice of 1 month to 5 year terms. Start with as little as $1,000. Interest paid monthly, quarterly, half yearly or yearly. Receive a 0.10% loyalty bonus when you automatically reinvest your Term Deposit before maturity. (Terms and Conditions apply)

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    Details

* Different interest rates apply to different amounts or different interest payment frequencies.

^See information about the Mozo Experts Choice Term Deposit Awards

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