If the best savings accounts we have selected are not what you're looking for you can compare over 180 accounts in our database to find the right one for you.
We currently don't have a partnership for that product, but we have other similar offers to choose from (how we picked these ):
The Finder Score is a simple score out of 10. The higher a savings account's score, the better we think it is for the average customer.
We score each savings account in our database of hundreds based on a data-driven methodology with 2 main criteria: Does the account offer a high interest rate? And is it easy for savers to actually earn that rate?
Ubank High Interest Save Account
This account has a Finder Score of 9.7.
ING Savings Maximiser
This account has a Finder Score of 9.7.
Macquarie Savings Account
This account has a Finder Score of 9.18.
Westpac Life (18-29 year olds only)
Bank of Queensland Future Saver Account - 14 to 35 years
This account has a Finder Score of 9.7.
Great Southern Bank Youth eSaver Account (0-17 year olds only)
This account has a Finder Score of 3.65.
The higher the interest rate, the more interest you'll earn and the more your balance will grow. This is the most important feature to consider when choosing your account.
Savings accounts shouldn't charge you any fees. If you're getting charged a fee, know that this is not common and there are plenty of fee-free accounts.
Savings accounts typically have monthly deposit requirements or spending conditions to earn the high bonus rate. Make sure you can meet these.
The best savings account for you will depend on your age, financial situation, savings goals and spending habits. Here are a few different hypothetical examples of how you might pick a savings account based on your personal savings style.
The best savings account for you will likely be one with the following:
Let's say you want to give your savings a boost for 3-5 months only to help you save for an overseas holiday or another large purchase. Because you're saving for a specific goal in the near future, you aren't planning to keep your cash in the account for too long and you don’t want to have to meet any ongoing monthly conditions.
The best savings account for you will likely be one with the following:
Let's say you don't earn a regular income, or you're currently not in a position to meet a monthly deposit condition. Plus, perhaps you're also prone to dipping into your savings from time to time for impulse purchases or unexpected expenses.
The best savings account for you will likely be one with the following:
"People often ask why keep cash in a savings account when shares can offer better long-term returns historically. There are several answers: a savings account offers certainty, security, and acts as a financial safety net. It is safer and delivers a more predictable return than shares, and you can quickly access your cash when needed."
Usually savings accounts are connected to transaction accounts and instead of the money sitting in your bank account, you can transfer it to your savings account and it'll earn interest (if you meet the account conditions, of course). The special thing about savings account interest is its compound interest, meaning you'll earn interest on your interest.
Wondering which bank is best to open up your savings account with? Chances are you may be thinking of joining the Big Four. We've put together this pros and cons list of the Big Four VS smaller banks to help you make a decision easier.
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In most cases, you can apply and open a savings account online, as long as you're able to provide documentation that confirms your identity and residency. If you're a new customer to the bank, you'll need to verify your identity for legal reasons. For the online savings and bonus saver accounts, most banks will allow an Australian to have an account opened in their name from birth.
Australian households will save 4.8% of their disposable household income in 2025, equivalent to $2,716 per year.
You can open a joint savings account with another person to save for a shared goal. Here's how they work and how to find the best joint savings account for you.
Four steps to creating an emergency savings fund and how much money you should aim to keep in it.
Wanting to save money doesn’t make it easier, but this free template helps.
Financial difficulties can compound the problems faced by survivors of domestic violence. This guide includes a list of support services that can help, and advice on how to financially plan an exit strategy for abusive relationships.
Gift savings accounts are just the beginning for starting kids off on the right track to a secure financial future.
A simple feature like compound interest can make a big difference in how your savings grow.
Kickstart your savings plan with a high interest savings account.
Our range of simple calculators can help you plan your finances and compare potential interest earned.
Can I invest $1,000,000.00 over 12 months with 3.1% interest giving a straight $31,000.00 return?
Thanks.
Hi Ben,
Thank you for getting in touch with Finder.
This maximum variable rate of 3.10% from HSBC is an introductory rate for 4 months only and for balances below $1,000,000. If you are planning to invest your $1,000,000 for 12 months, you may consider putting the funds into a 12-month term deposit account. You can use our table to help you find the account that suits you. When you are ready, press the “Go to site” button to apply. Please make sure that you’ve read the relevant T&Cs or PDS of the account to help consider whether the product is right for you.
Please note that the government guarantee covers deposits up to $250,000 only.
I hope this helps.
Thank you and have a wonderful day!
Cheers,
Jeni
Thanks for your website – very informative!! I notice that there is one question
you haven’t covered anywhere that I can see ie. Is there a penalty for closing
an account after the ‘bonus’ period of 3 or 4 months on a Savings account has
finished? This area seems to be kept very quiet!!
Hi John,
Thanks for your inquiry.
For on-call accounts (or high savings accounts), usually, it doesn’t charge you anything when you close them (anytime) even after you’ve earned the ‘bonus’ interest rate, say after the 4-month period. This information is typically mentioned in the terms and conditions of the account, so best to check it out.
Hope this helps.
Cheers,
May
What’s the best account for me. I will deposit $700 per month $175 per week and leave it alone for 12 months.
Hi Craig,
Thank you for reaching out to Finder.
You may consider putting the funds into a 12-month term deposit. Please use our table to help find the provider that suits you. When you are ready, press the “Go to site” button to apply. Before applying, please ensure that you meet all the eligibility criteria and read through the details of the needed requirements as well as the relevant Product Disclosure Statements/Terms and Conditions when comparing your options before making a decision on whether it is right for you. You can also contact the provider if you have specific questions.
Hope this helps!
Cheers,
Reggie
Which savings bank accounts are open to those applying for Australian citizenship?
Hi RB,
Thank you for getting in touch with Finder.
If you are not an Australian resident or citizen yet, you may refer to our list of migrant bank accounts and saving accounts for temporary residents. You can use our comparison table to help you find the account that suits you. When you are ready, you may then click on the “Go to site” button and you will be redirected to the bank’s website where you can proceed with the application or get in touch with their representatives for further inquiries you may have.
I hope this helps.
Please feel free to reach out to us if you have any other enquiries.
Thank you and have a wonderful day!
Cheers,
Jeni
I want to open a savings account with another bank other than Westpac (closed today because of bad service), have a bank cheque), to have DEFT and other payments deducted. Commonwealth? St George? Bank West? ANZ? Bendigo Bank?
Hi Harimau,
Thanks for contacting Finder.
Since we are a comparison website and can’t recommend a specific savings account to you, the best thing to do is to check your options that would best suit your needs.
I can see that you are viewing this page for high-interest savings accounts. When choosing a high-interest savings account, you may need to factor in which type are you needing. Would you be needing a savings account with a bonus rate or would you be needing one with an introductory rate?
You can also compare bonus saver accounts if you want an account that pays extra interest each month you top up your savings.
On the other hand, you may check our list of introductory savings accounts.
Once you have chosen a particular account, you may then click on the “Go to site” button and you will be redirected to the bank’s website where you can proceed with your application or get in touch with their representatives for further assistance.
Before applying, please ensure that you meet all the eligibility criteria and read through the details of the needed requirements as well as the relevant Product Disclosure Statements/Terms and Conditions when comparing your options before making a decision on whether it is right for you. You can also contact the provider if you have specific questions.
I hope this helps.
Best regards,
Judith