ING, Ubank + other savings accounts still pay over 5% interest: Does yours?
If your savings account interest rate doesn't start with a 5, it could be time to switch to one that does.
The RBA announced a cut to the cash rate in Febraury, and we've seen a lot of savings accounts cut their interest rates over the 6 weeks since.
There's a really good chance your savings account interest rate has dropped from what it was at the start of the year.
At the start of 2025 it was quite common to see interest rates starting with a 5.
While it's much less common now in April, there are still a handfull of accounts offering interest rates above 5% p.a. (for now).
Want to earn more interest?
Of course you do! Compare high interest savings accounts and switch to a better rate today.
1. ING Savings Maximiser Account
ING currently offers the best ongoing interest rate in the market, at 5.40% p.a.
This is available on balances up to $100,000. To earn this rate you need to deposit $1000 a month, grow your balance during the month and make 5 transactions from your ING Orange Everyday Account.
2. BoQ Future Saver Account
Earn 5.25% p.a. on balances up to $50,000 when you deposit $1000 and make 5 transactions during the month from the linked Bank of Queensland transaction account. You also need to be aged between 14 and 35.
3. MOVE Bank Growth Saver
Earn 5.25% p.a. on balances up to $25,000 when you depsoit $200 a month and make no withdrawals.
Along with BoQ, this account offers one of the highest ongoing rates after ING, but it's only available on smaller balances.
4. Ubank Save Account
Earn 5.10% p.a. on balances up to $100,000 when you deposit $500 each month. If your balance is between $100,000 and $250,000 you can earn 4.65% p.a. by meeting the deposit condition. You can make withdrawals and still be eligible for the bonus interest.
5. Rabobank Premium Saver
Earn 5.10% p.a. on balances up to $250,000 when you grow your balance by $200 a month.
This account offers the same ongoing rates as Ubank, but it's available on larger balances plus you can make withdrawals and still earn bonus interest.
You can earn 5.10% p.a. when you deposit $500 per month and make 5+ card payments from your BCU Access Account each month.
Similar to Rabobank, you can make withdrawals and still earn bonus interest.
Ask a question