Best savings account for regular savers

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Best savings account for regular savers

The top-rated savings accounts suitable for the everyday saver. Assumes a $10,000 starting balance and monthly deposits of $600. Excludes kids' and pensioners' accounts.

Ranking	Product	Maximum rate	Company	Base rate	Maximum monthly interest	Total interest earned
1 56 position up today	Life (18 - 29 years) special Earn up to 3.00% p.a. variable interest when you spend and save with Westpac. Available to individuals aged 18 to 29 on Westpac Life account balances up to $30k. Simply make 5+ debit card purchases on your Westpac Choice account, and grow your Westpac Life account balance each month. T&Cs apply.	3.00%	Compare	0.40%	$12.5	$288
2 1 position up today	Saver *5 or more card purchases per month from your Everyday Account.	1.60%*	Compare	0.10%	$6.7	$152.9
3 1 position up today	eSaver Reward *Bonus is paid when you deposit $1000 per month from an external account to a CUA transaction account	1.45%*	Compare	0.05%	$6	$138.5
4 1 position up today	USave with USpend *Deposit at least $200 a month into your USpend transaction account or USave savings account from a non-UBank account to earn bonus rate. This offer is available on balances up to $250,000.	1.46%*	Compare	0.40%	$6.1	$139.4
5 1 position up today	Save Account *Deposit $1,000+ each month	1.35%*	Compare	0.15%	$5.6	$128.9
6 1 position up today	Savings Maximiser *For customers who have an Orange Everyday bank account and deposit their pay of $1,000 or more per month and make 5+ card transactions each month	1.50%*	Compare	0.10%	$6.3	$143.3
7 1 position up today	Active Saver *Deposit $250 and make no withdrawals each month.	1.50%*	Compare	0.25%	$6.3	$143.3
8 1 position up today	Macquarie Savings Account	1.50% Intro 4 months then 1.35%	Compare	1.35%	$6.3	$143.3
9 7 position down today	Online Savings Account *To receive bonus interest, open an Online Savings Account and a ME Everyday Transaction Account and Tap & go™ at least four times a month and you could get bonus interest on savings balances up to $250,000.	1.35%*	Compare	0.10%	$5.6	$128.9
10 1 position up today	Bonus Saver Account *Bonus interest is paid when a customer has made an eligible deposit of $20 into the Bonus Saver account in the calendar month and made 5 eligible Visa card purchases on the linked Everyday or Glide account in the calendar month	1.50%*	Compare	0.15%	$6.3	$143.3
11 2 position up today	Growth Saver Account *Grow your net balance by $200 or more (excluding interest) and make no more than one withdrawal during the month	1.20%*	Compare	0.10%	$5	$114.5
12 2 position up today	Lifestyle Account *Deposit a minimum of $400 per month	1.25%*	Compare	0.25%	$5.2	$119.3
13 2 position up today	Target Bonus Account *Make at least one deposit and no withdrawals every month	1.21%*	Compare	0.10%	$5	$115.4
14 8 position down today	Fast Track Savings Account *Receive bonus interest when you deposit $1000 into a linked Day2Day account from an external account and make 5 eligible transactions per month. Available on balances up to $250,000. Gold Award Winner 2020	1.20%*	Gold Award Winner 2020 Compare	0.20%	$5	$114.5
15 1 position up today	Bonus Saver *Deposit at least $200 and make no withdrawals during the month	1.15%*	Compare	0.05%	$4.8	$109.7
16 1 position up today	Hero Saver *Deposit $200 per month and make no withdrawals	1.15%*	Compare	0.01%	$4.8	$109.7
17 1 position up today	Volt Save	1.25%	Compare	1.25%	$5.2	$119.3
18 1 position up today	Bonus Saver *Deposit $50 per month and make no withdrawals	1.00%*	Compare	0.01%	$4.2	$95.3
19 1 position up today	SwiftSaver Account *Deposit at least $10 a month and make no withdrawals	1.10%*	Compare	0.10%	$4.6	$104.9
20 1 position up today	PremiumSaver *Balance must be increased by $200 a month	1.20%*	Compare	0.10%	$5	$114.5

Data last updated on 23 Oct 2020

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