InfoChoice | Compare High Interest Savings Bank Accounts
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High Interest Savings Accounts

Looking for a high interest savings account?

Whether you’re saving for a car, a holiday or the future, the right high interest rate savings account can help you reach your goal sooner.

Not only can they offer higher interest rates than everyday transaction accounts, some may include incentives for making regular deposits, limiting the number of withdrawals or maintaining a minimum balance.

Here you can review and compare the monthly account fees, access options and interest rates for a range of high interest savings accounts from different providers. It’s that easy.

Let's get started: What is a savings account? | What types of savings accounts are there? | How to compare high interest savings accounts


Where’s the best place for my money?

State
Savings Amount

Term
Account Type
Account Type
 

Not sure which savings account is for you? Click here for more information

Institution Product Name
(click for details)
Linked Account Required? Max Interest Rate ($10,000) Max Monthly Interest Base Interest Rate ($10,000) Base Monthly Interest Visit Provider's Website
Citi Online Saver (2.85% Variable intro rate for 4 months on balances up to $500k) Any Institution 2.85% $23.75 1.70% $14.17 Go to site
Savings Maximiser (Base rate 1.35%p.a + 1.45%p.a Standard Bonus Rate = 2.80%p.a on balances up to $100K) Same Institution 2.80% $23.33 1.35% $11.25 Go to site
eSaver Boost 2.75% $22.92 0.25% $2.08 Go to site
eSaver Reward 2.70% $22.50 0.05% $0.42 Go to site
Maxi Saver (2.60% variable for first 3 months) Same Institution 2.60% $21.67 0.80% $6.67 Go to site
Maxi Saver Account Same Institution 2.60% $21.67 0.80% $6.67 Go to site
Maxi Saver (NSW, ACT, SA & NT) Same Institution 2.60% $21.67 0.80% $6.67 Go to site
Maxi Saver (QLD, VIC, WA & TAS) Same Institution 2.60% $21.67 0.80% $6.67 Go to site
Hero Saver (Earn an ongoing variable rate of 2.60% p.a. for balances up to $250,000 minimum deposit of $200 excludes interest monthly with no withdrawals) Any Institution 2.60% $21.67 0.01% $0.08 Go to site
ANZ Online Saver (Earn up to 2.55% p.a. for 3 months) Same Institution 2.55% $21.25 0.80% $6.67 Go to site
Westpac eSaver (earn up to 2.51% p.a.) Same Institution 2.51% $20.92 1.00% $8.33 Go to site
Flexi Saver Account (receive a monthly bonus interest*) 2.50% $20.83 1.25% $10.42 Go to site
Incentive Saver Account (Earn up to 2.30% p.a.) 2.00% $16.67 0.80% $6.67 Go to site
ANZ Progress Saver 1.81% $15.08 0.01% $0.08 Go to site
Westpac Reward Saver (earn up to 1.50% p.a.) Not Required 1.50% $12.50 0.01% $0.08 Go to site
Bank of Melbourne Sense Savings Account (must be linked to the Bank of Melbourne Sense Everyday Account) Same Institution 1.25% $10.42 1.25% $10.42 Go to site
Investment Cash Account 0.25% $2.08 0.25% $2.08 Go to site
RaboDirect High Interest Savings Account Any Institution 3.05% $25.42 1.90% $15.83  
Matrimoney Not Required 3.00% $25.00 3.00% $25.00  
HSBC Serious Saver (3.00% variable intro rate for 4 months on balances up to $1m) Any Institution 3.00% $25.00 1.60% $13.33  
Institution Product Name
(click for details)
Linked Account Required? Max Interest Rate ($10,000) Max Monthly Interest Base Interest Rate ($10,000) Base Monthly Interest Visit Provider's Website

Sponsored Savings Account Listings
InfoChoice displays Savings accounts from providers that sponsor our site first and with a “SPONSORED” indicator in the left most column. To re-sort the savings account comparison list without this filter - simply  de-select the “Show sponsored listings first” checkbox.

Savings
* Default sorting is based on the maximum monthly interest rate in descending order.
* Monthly interest is the savings amount accumulated over the first month. Use our Savings Calculator to project further accumulation of funds. 
'Max Monthly Interest' includes any introductory rates that may only apply for a limited period and bonus rates that may only apply if certain conditions are met. 
'Base Monthly Interest' includes the the ongoing savings interest rate with no introductory or bonus interest.
* Default value for monthly interest is based on a savings amount of $10,000.

Any information or product contained on this website does not constitute a recommendation or suggestion to purchase or apply for any particular product with any particular institution and may not suit your personal objectives, financial situation or needs. Please consider whether it is appropriate for your circumstances, before making a decision to purchase or apply for any product.

High Interest Savings Accounts

Compare and Choose the best high interest savings account from Australia's largest selection of accounts at infochoice.com.au. We list high interest savings accounts from 100's of institutions including all the big banks, credit unions and societies.

When comparing high interest savings accounts there are a few things to look for, sometimes high interest savings accounts will offer a promotional rate which is generally only available for a limited time and will revert back to a lower standard rate at the end of the period. If you are looking for a short term high interest return then these could be a good option, but if you are looking for a consistant return then look for an account that offers a strong base rate.

Online savings accounts will usually offer the highest rates due to the low maintenance cost to providers which allow them to offer a higher rate. Online accounts will usually have to be linked to a transaction account, the provider will either let you link it to any account including one with another bank or they will require you open a transaction account with them if you don't already have one. Make sure to double check this as you may not want to open another transaction account especially if it means paying monthly fees when you don't need it.

 

 

Today's Savings deals

Institution Product Max. Rate (%) Details
Citi Online Saver (2.85% Variable intro rate for 4 months on balances up to $500k) 2.85 Go to site
Savings Maximiser (Base rate 1.35%p.a + 1.45%p.a Standard Bonus Rate = 2.80%p.a on balances up to $100K) 2.80 Go to site
Maxi Saver (2.60% variable for first 3 months) 2.60 Go to site
Maxi Saver Account 2.60 Go to site
Hero Saver (Earn an ongoing variable rate of 2.60% p.a. for balances up to $250,000 minimum deposit of $200 excludes interest monthly with no withdrawals) 2.60 Go to site
Maxi Saver (NSW, ACT, SA & NT) 2.60 Go to site
Institution Product Max. Rate (%) Details

Based on promotional or introductory rates for an online savings account of $5,000. For information on how we've selected these “Sponsored” and “Featured” products click here.


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Although we cover a range of products, providers and services we don't cover every product, provider or service available in the market. The information and products contained on this website do not constitute recommendations or suggestions to purchase or apply for any particular product. Products included on this site may not suit your personal objectives, financial situation or needs. Please consider whether it is appropriate for your circumstances, before making a decision to purchase or apply for any product. If you are considering acquiring any financial product you should obtain and read the relevant Product Disclosure Statement or other offer document prior to making an investment decision.

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