Best savings account for young adults

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Best savings account for young adults

The top-rated savings accounts suitable for young adult everyday saver. Assumes a $2,000 starting balance and monthly deposits of $400. Excludes kids' and pensioners' accounts.

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Best savings account for young adults

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Ranking 1 1 position down today	Product 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 $30k. Simply make 5+ debit card purchases on your Westpac Choice account, and grow your Westpac Life account balance each month. T&Cs apply. *$Make a deposit to your Westpac Life account and 5 eligible purchases with a debit card	Maximum rate 3.00%*	Company Compare	Base rate 0.20%	Maximum monthly interest $12.5	Total interest earned $288
Ranking 2 2 position down today	Product Fast Track Starter Account (Ages 14 - 24) *$Bonus Interest applies for the following month where $200 or more is credited to the linked Day2Day Plus account in the prior month. This amount does not include amounts transferred from another one of your BOQ Accounts; Customers will also be required to make 5 eligible transactions which includes:- Settled Visa Debit Card & eftpos Card purchases, Direct Debits and ATM withdrawals.	Maximum rate 3.00%*	Company Compare	Base rate 0.05%	Maximum monthly interest $12.5	Total interest earned $288
Ranking 3 1 position up today	Product Life Saver	Maximum rate 1.40%	Company Compare	Base rate 1.40%	Maximum monthly interest $5.8	Total interest earned $133.7
Ranking 4 1 position up today	Product Save Account *$Deposit $1,000+ each month	Maximum rate 1.20%*	Company Compare	Base rate 0.10%	Maximum monthly interest $5	Total interest earned $114.5
Ranking 5 1 position down today	Product Smart Saver Account (Under 25)	Maximum rate 1.40%	Company Compare	Base rate 1.40%	Maximum monthly interest $5.8	Total interest earned $133.7
Ranking 6 1 position up today	Product Savings Maximiser *$Customers must complete the following each month: 1. Deposit at least $1,000 from an external source; 2. Make 5+ settled card purchases; and 3. Additionally, grow the balance on the nominated Savings Maximiser account – i.e. make sure there’s more in the account at the end of the month (excluding interest) than there was at the end of the previous month.	Maximum rate 1.35%*	Company Compare	Base rate 0.05%	Maximum monthly interest $5.6	Total interest earned $128.9
Ranking 7 1 position up today	Product Youth Saver *$Deposit $50 and make no withdrawals each month	Maximum rate 1.00%*	Company Compare	Base rate 0.30%	Maximum monthly interest $4.2	Total interest earned $95.3
Ranking 8 1 position up today	Product USave with USpend *$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.	Maximum rate 1.10%*	Company Compare	Base rate 0.10%	Maximum monthly interest $4.6	Total interest earned $104.9
Ranking 9 1 position up today	Product Online Savings Account *$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.	Maximum rate 1.10%*	Company Compare	Base rate 0.05%	Maximum monthly interest $4.6	Total interest earned $104.9
Ranking 10 1 position up today	Product Bonus Saver Account *$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	Maximum rate 1.20%*	Company Compare	Base rate 0.10%	Maximum monthly interest $5	Total interest earned $114.5
Ranking 11 1 position up today	Product Bonus Saver Account *$Make no withdrawals during the month	Maximum rate 0.90%*	Company Compare	Base rate 0.05%	Maximum monthly interest $3.8	Total interest earned $85.8
Ranking 12 6 position up today	Product Bonus Saver Account *$Bonus rate interest is paid if deposits totalling at least $100 and no debit transactions are made to the account during the calendar month.	Maximum rate 1.00%*	Company Compare	Base rate 0.01%	Maximum monthly interest $4.2	Total interest earned $95.3
Ranking 13 1 position up today	Product eSaver Reward *$Bonus is paid when you deposit $1000 per month from an external account to a CUA transaction account	Maximum rate 0.95%*	Company Compare	Base rate 0.05%	Maximum monthly interest $4	Total interest earned $90.6
Ranking 14 7 position down today	Product Macquarie Savings Account	Maximum rate 1.10% Intro 4 months then 0.95%	Company Compare	Base rate 0.95%	Maximum monthly interest $4.6	Total interest earned $67.9
Ranking 15 1 position up today	Product Bonus Saver *$Deposit at least $200 and make no withdrawals during the month	Maximum rate 0.95%*	Company Compare	Base rate 0.05%	Maximum monthly interest $4	Total interest earned $90.6
Ranking 16 1 position up today	Product Target Bonus Account *$Make at least one deposit and no withdrawals every month	Maximum rate 0.96%*	Company Compare	Base rate 0.01%	Maximum monthly interest $4	Total interest earned $91.5
Ranking 17 2 position up today	Product Active Saver *$Deposit $250 and make no withdrawals each month.	Maximum rate 1.00%*	Company Compare	Base rate 0.10%	Maximum monthly interest $4.2	Total interest earned $95.3
Ranking 18 2 position up today	Product Bonus Saver *$Minimum deposit of $200 and no withdrawals within a calendar month.	Maximum rate 0.85%*	Company Compare	Base rate 0.10%	Maximum monthly interest $3.5	Total interest earned $81
Ranking 19 3 position up today	Product Volt Save	Maximum rate 1.00%	Company Compare	Base rate 1.00%	Maximum monthly interest $4.2	Total interest earned $95.3
Ranking 20 3 position up today	Product PremiumSaver *$Balance must be increased by $200 a month	Maximum rate 1.00%*	Company Compare	Base rate 0.10%	Maximum monthly interest $4.2	Total interest earned $95.3