Savings Accounts Leaderboard
Looking for the best-rated savings account offers on the market? Compare Australia's savings accounts to find some of the best on the market.
Best regular savers account
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.
Target Saver
*Min $1K monthly deposit, no withdrawals
Ranking
Maximum rate
Base rate
Maximum monthly interest
Total interest earned
5.50%*
p.a
0.01%
p.a
$72*
$589*
Target Saver
*Min $1K monthly deposit, no withdrawals
Ranking
Maximum rate
Base rate
Maximum monthly interest
Total interest earned
5.50%*
p.a
0.01%
p.a
$72*
$589*
Target Saver
*Min $1K monthly deposit, no withdrawals
Ranking
Maximum rate
Base rate
Maximum monthly interest
Total interest earned
5.50%*
p.a
0.01%
p.a
$72*
$589*
Target Saver
*Min $1K monthly deposit, no withdrawals
Ranking
Maximum rate
Base rate
Maximum monthly interest
Total interest earned
5.50%*
p.a
0.01%
p.a
$72*
$589*
Freedom Saver
Winner of Best Standard Savings Account, RateCity Gold Awards 2023
Ranking
Maximum rate
Base rate
Maximum monthly interest
Total interest earned
5.50%
p.a
5.50%
p.a
$72
$589
Best kids savings account
The top-rated savings accounts for the little savers. Assumes monthly deposits of $50 from age five to 17 inclusive.
Bump Account
Cashback
Get $50 Cash when you deposit $100 into your savings accounts within 30 days. T&Cs apply.*Make a deposit to the account, account balance is higher at the end than the beginning and account balance is above $0 at all times.
Ranking
Maximum rate
Base rate
Maximum monthly interest
Total interest earned
5.00%*
p.a
2.00%
p.a
$65*
$535*
Youthsaver Account
*Grow your balance (excluding interest and bank initiated transactions) each calendar month
Ranking
Maximum rate
Base rate
Maximum monthly interest
Total interest earned
5.00%*
p.a
2.60%
p.a
$65*
$535*
Young Saver Account
Winner of Best Kids Savings Account, RateCity Gold Awards 2023
Ranking
Maximum rate
Base rate
Maximum monthly interest
Total interest earned
0.01%
p.a
0.01%
p.a
$34
$369
Smart Saver Account (Under 25)
*Interest is earned when the closing balance on the last day of the month is at least $10 higher than the opening balance and no more than 2 withdrawals have been made.
Ranking
Maximum rate
Base rate
Maximum monthly interest
Total interest earned
4.75%*
p.a
Not Applicable
$62*
$507*
mySaver
*Deposit $10 or more and make no withdrawals each month
Ranking
Maximum rate
Base rate
Maximum monthly interest
Total interest earned
4.75%*
p.a
0.10%
p.a
$62*
$507*
Best standard savings account
The top-rated savings accounts suitable for savers who want complete freedom while still earning interest. Assumes a balance of $10,000 at any given time. Excludes kids' and pensioners' accounts, as well as accounts that offer bonus interest if certain terms and conditions are met each month.
Freedom Saver
Winner of Best Standard Savings Account, RateCity Gold Awards 2023
Ranking
Maximum rate
Base rate
Maximum monthly interest
Total interest earned
5.50%
p.a
5.50%
p.a
$72
$589
Macquarie Savings Account
Winner of Best Savings Account Regular Savers, Best Standard Savings Account, Best Savings Account Young Adults, RateCity Gold Awards 2023
Ranking
Maximum rate
Base rate
Maximum monthly interest
Total interest earned
5.50%
p.a
4.75%
p.a
$62
$524
Simple Saver Account
Ranking
Maximum rate
Base rate
Maximum monthly interest
Total interest earned
4.85%
p.a
4.85%
p.a
$63
$518
MoneyMAX Account
Ranking
Maximum rate
Base rate
Maximum monthly interest
Total interest earned
4.90%
p.a
4.90%
p.a
$64
$524
Ranking
Maximum rate
Base rate
Maximum monthly interest
Total interest earned
4.55%
p.a
4.55%
p.a
$59
$486
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.
Target Saver
*Min $1K monthly deposit, no withdrawals
Ranking
Maximum rate
Base rate
Maximum monthly interest
Total interest earned
5.50%*
p.a
0.01%
p.a
$72*
$589*
Target Saver
*Min $1K monthly deposit, no withdrawals
Ranking
Maximum rate
Base rate
Maximum monthly interest
Total interest earned
5.50%*
p.a
0.01%
p.a
$72*
$589*
Target Saver
*Min $1K monthly deposit, no withdrawals
Ranking
Maximum rate
Base rate
Maximum monthly interest
Total interest earned
5.50%*
p.a
0.01%
p.a
$72*
$589*
Target Saver
*Min $1K monthly deposit, no withdrawals
Ranking
Maximum rate
Base rate
Maximum monthly interest
Total interest earned
5.50%*
p.a
0.01%
p.a
$72*
$589*
Freedom Saver
Winner of Best Standard Savings Account, RateCity Gold Awards 2023
Ranking
Maximum rate
Base rate
Maximum monthly interest
Total interest earned
5.50%
p.a
5.50%
p.a
$72
$589
Checkout more savings accounts
Promoted
High Interest Save Account
Gold Award Winner 2023
*To earn bonus interest, you’ll just need to have a Spend account and deposit $200+ per month (not including internal transfers) into any of your Spend and Save accounts. Get the app and sign up in just minutes
5.10%*
p.a
0.10%
p.a