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High-interest long term savings accounts with no fees

See a list of the top high-interest long term savings account no fees

Updated: 01.09.2026

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Quick Rates Review

Compare top financial options at a glance. Comprehensive analysis for each listed offer is available further down the page

Institution

Rate (APR/APY)

Sum & Term

Rabobank

2.50% - 5.75%

Flexible Amount

Flexible Term

Bankwest

2.10% - 5.75%

Flexible Amount

Flexible Term

Defence Bank

0.1% - 5.50%

Flexible Amount

Flexible Term

ING Bank

0.55% - 5.5%

Flexible Amount

Flexible Term

BankSA

1.25% - 5.35%

Flexible Amount

Flexible Term

Commonwealth Bank (CBA)

3.3% - 5.25%

$5,000 - $5,000,000

30 - 1825 days

RACQ Bank

0.01% - 5.25%

Flexible Amount

Flexible Term

St. George Bank

1.1% - 5.15%

Flexible Amount

Flexible Term

BankSA

0.1% - 5.15%

Flexible Amount

Flexible Term

Bank of Queensland (BOQ)

0.05% - 5.15%

Up to $5,000,000

Flexible Term

Bankwest

0.65% - 5.10%

Up to $5,000,000

Flexible Term

BankVic

0.05% - 5.10%

Up to $5,000,000

Flexible Term

Bank of Melbourne

1.00% - 5.10%

Flexible Amount

180 days

Ubank

0.1% - 5.1%

Flexible Amount

Flexible Term

Queensland Country Bank

0.15% - 5.05%

Flexible Amount

Flexible Term

Westpac Bank

1% - 5%

Flexible Amount

Flexible Term

Hume Bank

0.01% - 5.00%

Flexible Amount

Flexible Term

MyState Bank

0.05% - 5.00%

Flexible Amount

Flexible Term

NAB

1.55% - 5%

Up to $20,000,000

120 days

P&N Bank

5.00%

Flexible Amount

Flexible Term

Arab Bank Australia

3% - 4.95%

Flexible Amount

Flexible Term

Commonwealth Bank (CBA)

1.95% - 4.95%

Flexible Amount

Flexible Term

Commonwealth Bank (CBA)

1.95% - 4.95%

Flexible Amount

Flexible Term

Bank of Melbourne

0.10% - 4.90%

Flexible Amount

Flexible Term

Heritage Bank

0.01% - 4.90%

Flexible Amount

Flexible Term

Bank Australia

0.1% - 4.85%

Up to $250,000

Flexible Term

AMP Bank

4.85%

Flexible Amount

Flexible Term

Suncorp Bank

0.05% - 4.80%

Flexible Amount

Flexible Term

Commonwealth Bank (CBA)

2% - 4.8%

Up to $50,000

Flexible Term

Greater Bank

4.00% - 4.75%

Flexible Amount

Flexible Term

Commonwealth Bank (CBA)

0.25% - 4.75%

Flexible Amount

Flexible Term

Westpac Bank

0.10% - 4.75%

Flexible Amount

Flexible Term

Bendigo Bank

0.10% - 4.75%

Up to $100,000

Flexible Term

ANZ Bank

0.1% - 4.75%

Flexible Amount

Flexible Term

Commonwealth Bank (CBA)

0.25% - 4.75%

Flexible Amount

Flexible Term

BankVic

4.70%

Flexible Amount

Flexible Term

Beyond Bank Australia

0.01% - 4.65%

Flexible Amount

Flexible Term

G&C Mutual Bank

0.10% - 4.65%

Flexible Amount

Flexible Term

NAB

0.01% - 4.65%

Flexible Amount

Flexible Term

Australian Military Bank

4.6%

Flexible Amount

Flexible Term

Bank of Queensland (BOQ)

0.05% - 4.55%

Up to $5,000,000

Flexible Term

BankVic

4.10% - 4.40%

Flexible Amount

Flexible Term

Australian Mutual Bank

0.35% - 4.40%

Up to $1

Flexible Term

Gateway Bank

0.1% - 3.6%

Flexible Amount

Flexible Term

Bendigo Bank

3.55%

Flexible Amount

Flexible Term

Bendigo Bank

3.55%

Flexible Amount

Flexible Term

Bank First

0.05% - 3.55%

Flexible Amount

Flexible Term

ANZ Bank

0.01% - 3.50%

Flexible Amount

Flexible Term

BOQ Specialist

Flexible Amount

Flexible Term

BankVic

2.90%

Up to $5,000,000

Flexible Term

Geelong Bank

0.01% - 2.71%

Flexible Amount

Flexible Term

Commonwealth Bank (CBA)

0.05% - 2.6%

Flexible Amount

Flexible Term

ANZ Bank

1.10%

Flexible Amount

Flexible Term

Quick Expert Insights

Interest Rates

Average:1.28%

Range:0.01% - 5.75%

Product Term

Minimum: 30 days

Maximum: 5 years

Limit / Amount

Min Entry:$1

Max Limit:$20,000,000

Analysis of 53 offers shows an average rate of 1.28%, with the absolute market maximum reaching 5.75%. Flexible terms from 30 days are available at Commonwealth Bank (CBA), while Commonwealth Bank (CBA) offers terms up to 5 years . The lowest entry is $1 (via Australian Mutual Bank).

Full Products Review

In-depth analysis of available financial offers. Compare detailed terms and explore expert insights to choose the most suitable option for your needs.

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AMP Bank

AMP Bank GO Save

Rate: 4.85%

💰 Fees & Rates

Monthly account-keeping fees: Nil Deposit and withdrawal fees: Nil

📋 Important Terms

No minimum monthly deposit or growth requirements to earn the interest rate No withdrawal limits or penalties Must be linked to an AMP Bank GO Everyday transaction account Accessible exclusively via the AMP Bank GO mobile app Interest is calculated daily and paid monthly

💡 Adviser’s Tip

Olesya Krasavtseva Analytic & Editor at Prostobank Consulting

The AMP Bank GO Save account is a highly competitive "no-strings-attached" savings product, offering a strong variable rate of 4,85% without the typical requirements found at Big Four banks. Unlike bonus savings accounts from CBA or Westpac, which often mandate monthly deposits or restrict withdrawals to maintain high rates, this account provides total flexibility. Its main advantage is the lack of "hoop-jumping," while its primary disadvantage is the absence of a desktop web portal and branch support. It is an excellent choice for mobile-first savers who want a high yield on their emergency fund without worrying about meeting strict monthly conditions.

📍 View official contacts for AMP Bank

ANZ Bank

ANZ Progress Saver

Rate: 0.01% - 3.50%

💰 Fees & Rates

Monthly account service fee: $0
First monthly withdrawal or transfer: $0 (disqualifies bonus interest)
Subsequent Electronic Transactions: $1.00 each
Subsequent Staff Assisted Transactions: $2.50 each
Under 18s Fee Waiver: Available upon application and proof of age

📋 Important Terms

Bonus Interest Requirement: Single deposit of $10 or more and no withdrawals, transfers, or fees processed in the month
Base Interest Rate: 0.01% p.a. applied if bonus criteria are not met
Eligibility: Australian residents aged 12 or older (under 12 requires a Trust account)
Account Purpose: Designed for personal use only
Effective Date Logic: Bonus eligibility is based on effective processing dates, which may differ from calendar transaction dates

💡 Adviser’s Tip

Olesya Krasavtseva Analytic & Editor at Prostobank Consulting

The primary advantage of the ANZ Progress Saver is the high 3.50% p.a. total interest rate triggered by a very low $10 monthly deposit, making it one of the most accessible high-interest accounts for consistent savers. The main disadvantage is the strict "no-withdrawal" policy; even a single transaction or fee charge will revert the entire balance to a negligible 0.01% p.a. base rate for that month. Compared to the Big Five Canadian banks like Scotiabank or RBC, which offer similar incentive-based savings accounts (such as the Momentum Plus), ANZ's version is more punitive regarding any account activity but requires a much lower monthly growth amount. It is best suited for children, teenagers, and individuals building an emergency fund who can commit to leaving their savings untouched.

📍 View official contacts for ANZ Bank

ANZ Bank

ANZ Online Saver

Rate: 1.10%

💰 Fees & Rates

$0 monthly account service fee
$0 internet banking transaction fees
$0 electronic transaction fees
No minimum balance fees

📋 Important Terms

Available to Australian residents aged 12 or older
Requires Australian residential address
Must be linked to an eligible ANZ transaction account
Variable interest rate applied to full balance monthly
No minimum deposit or balance requirements
Allows savings goal tracking tools

💡 Adviser’s Tip

Olesya Krasavtseva Analytic & Editor at Prostobank Consulting

This is a straightforward online savings account similar to basic high-interest savings products offered by Canadian Big Five banks like RBC or Scotiabank, though typically simpler in structure. Its main advantage is the combination of no fees and a guaranteed variable interest rate with no balance requirements. However, the interest rate is relatively modest compared to more aggressive savings products in the market. It is best suited for everyday savers who want a low-maintenance, flexible account to store funds while earning some interest.

📍 View official contacts for ANZ Bank

ANZ Bank

ANZ Plus Growth Saver + ANZ Plus Flex Saver

Rate: 0.1% - 4.75%

💰 Fees & Rates

Major bank ATMs in Australia: $0
International ATM withdrawal: $5 (Free at ANZ ATMs)
Overseas transaction fee: 3% of transaction value
Inward international money transfer: up to $15

📋 Important Terms

ANZ Plus Growth Saver: Grow balance by $100 or more monthly to earn total rate of 4.75% p.a.
ANZ Plus Flex Saver: 4.75% p.a. on the first $5,000 and 1.75% p.a. on balances above $5,000
Eligibility: Must be an existing ANZ Plus customer to add Flex Saver
Account Setup: Users join with Everyday and Growth Saver accounts
Transaction Limits: Flex Saver supports BPAY and Direct Debit but has no linked Visa Debit card

💡 Adviser’s Tip

Olesya Krasavtseva Analytic & Editor at Prostobank Consulting

The main advantage of this bundle is the dual-savings structure that allows for goal-based growth at 4.75% while maintaining high-interest liquidity for smaller amounts on the Flex account. The primary disadvantage is the sharp interest rate drop on the Flex Saver once the $5,000 threshold is exceeded and the lack of a physical card for direct spending from that account. Compared to Canada's Big Five like BMO or RBC, which often require long-term lock-ins or significantly higher monthly growth for similar bonus rates, the ANZ Plus bundle offers more flexibility and digital integration for smaller, active savings pots. It is ideal for digital-first users who need to balance monthly bill payments with consistent long-term savings goals.

📍 View official contacts for ANZ Bank

Arab Bank Australia

Personal Online Savings Account

Rate: 3% - 4.95%

💰 Fees & Rates

No monthly account keeping feesNo online transactional feesOver the counter (branch) fees apply for manual transactions

📋 Important Terms

Interest calculated daily and paid monthlyHigher interest tiers start at $50,000Includes 24/7 access via abal.online and mobile appAustralian Government Guaranteed up to $250,000Visa Debit payWave Card available

💡 Adviser’s Tip

Olesya Krasavtseva Analytic & Editor at Prostobank Consulting

This account offers a very competitive peak rate of 4,95% for high balances, which frequently outperforms the standard base rates of the Big Four (CBA, NAB, ANZ, Westpac). The main advantage is the lack of monthly fees and high-tier returns; however, the disadvantage is the lower 3,00% rate for balances under $50,000. It is best suited for serious savers who maintain a balance of at least $50,000 to maximize their return.

📍 View official contacts for Arab Bank Australia

Australian Military Bank

Online Saver

Rate: 4.6%

💰 Fees & Rates

No monthly account keeping fees Free online and mobile banking access

📋 Important Terms

Bonus interest rate applies to balances over 0 dol when no withdrawals are made during the month Interest is calculated daily and paid monthly Available as an online-only account for personal use

💡 Adviser’s Tip

Olesya Krasavtseva Analytic & Editor at Prostobank Consulting

The Online Saver offers a highly competitive bonus rate of 4,60%, outperforming many standard savings products from the "Big Four" (CBA, NAB, ANZ, Westpac) that often require a minimum monthly deposit. The main advantage is the high yield for disciplined savers, while the primary disadvantage is the total loss of bonus interest if even one withdrawal is made. This product is best suited for individuals who want to park their savings without the need for frequent access.

📍 View official contacts for Australian Military Bank

Australian Mutual Bank

Savings Motivator Account

Rate: 0.35% - 4.40%

Sum: $1

💰 Fees & Rates

Annual fee: 0 dol Monthly account keeping fee: 0 dol Electronic transaction fees: 0 dol

📋 Important Terms

To earn the bonus interest rate of 4,05% p.a., you must make a monthly deposit and no withdrawals Standard base interest rate is 0,35% p.a. Minimum opening deposit of 1 dol Interest is calculated daily and paid monthly Account access via Online Banking, Mobile App, and BPAY

💡 Adviser’s Tip

Olesya Krasavtseva Analytic & Editor at Prostobank Consulting

The Savings Motivator Account offers a competitive combined rate of 4,40% p.a., which is comparable to the bonus saver products from the "Big Four" (CBA GoalSaver or NAB iSaver). Its primary advantage is the exceptionally low entry barrier of 1 dol, making it accessible for any budget. However, the main disadvantage is the significant drop to a 0,35% p.a. base rate if the strict monthly deposit and "no withdrawal" conditions are not met. This product is best suited for disciplined savers who are building an emergency fund or a specific goal and can commit to a one-way flow of funds.

📍 View official contacts for Australian Mutual Bank

Bank Australia

mySaver

Rate: 0.1% - 4.85%

Sum: $250,000

💰 Fees & Rates

Monthly account fee: $0 Deposit fee: $0 Online transfer fee: $0

📋 Important Terms

Exclusive to customers under 25 years of age. Earn maximum bonus interest by depositing at least $10 and making no withdrawals each month. Balances up to $50000 earn 4,85% p.a., while balances over $250000 earn 0% interest. Protected by the Australian Government guarantee up to $250000.

💡 Adviser’s Tip

Olesya Krasavtseva Analytic & Editor at Prostobank Consulting

The mySaver account is an outstanding youth-oriented savings product designed to encourage good financial habits for those under 25. The standout advantage is the incredibly low minimum deposit threshold of just $10 per month to trigger the high 4,85% p.a. bonus interest rate. The main limitation is the strict age restriction and the fact that balances exceeding $250000 earn zero interest. Compared to youth accounts from the Big Four (Commonwealth Bank, NAB, ANZ, Westpac Bank), this account offers a superb ongoing rate with very achievable deposit conditions and aligns with strong ethical banking values. This account is perfectly suited for teens, students, and young adults who are just starting to build their savings and need an accessible, fee-free account that rewards their efforts.

📍 View official contacts for Bank Australia

Bank First

Online Saver

Rate: 0.05% - 3.55%

💰 Fees & Rates

Account keeping fees: $0 Other fees and charges may apply

📋 Important Terms

Balances of $2000 and over earn the maximum rate of 3,55% p.a. Balances between $0 and $1999 earn a base rate of 0,05% p.a. Allows unlimited withdrawals without losing the accrued interest rate. Available to applicants aged 18 and over.

💡 Adviser’s Tip

Olesya Krasavtseva Analytic & Editor at Prostobank Consulting

The Online Saver account provides a flexible parking spot for cash with the benefit of unlimited withdrawals. Its main advantage is the lack of penalties for accessing your money, allowing you to earn the standard rate regardless of transaction activity. The primary disadvantage is the relatively low peak interest rate of 3,55% p.a. compared to bonus accounts, and the requirement to maintain at least $2000 to earn it. Compared to online savers from the Big Four (Commonwealth Bank, NAB, ANZ, Westpac Bank), Bank First offers a transparent ongoing rate without relying on short-term introductory teasers, though the rate itself is somewhat average. This account is perfectly suited for consumers who need an emergency fund with immediate, penalty-free access.

📍 View official contacts for Bank First

Bank of Melbourne

Incentive Saver

Rate: 0.10% - 4.90%

💰 Fees & Rates

Account-Keeping Fee: $0.00.
Staff assisted (branch and telephone): $0.00.

📋 Important Terms

Bonus Interest: Earn 4.80% p.a. variable bonus rate (total 4.90% p.a.) by growing your balance each month.
Eligibility (21+ years): Balance must stay at or above $0 and grow by at least $50 during the month.
Eligibility (Under 21 years): Balance must stay at or above $0 and grow by at least $0.01 during the month.
Deadline: Deposits must be settled by 9:59pm (Sydney time) on the last business day of the month.
Standard Rate: A base rate of 0.10% p.a. applies if balance growth requirements are not met.

💡 Adviser’s Tip

Olesya Krasavtseva Analytic & Editor at Prostobank Consulting

The main advantage of the Incentive Saver is the high ongoing variable rate that rewards consistent saving habits without an introductory expiration date. The primary disadvantage is the strict monthly growth requirement; failing to increase the balance by the specified amount (e.g., $50 for adults) results in the rate dropping to a negligible 0.10% p.a. Compared to similar products from Canada’s Big Five banks like RBC or TD, which often use short-term teaser rates, this account offers a more sustainable long-term yield for disciplined savers. It is best suited for Australian residents and younger savers who plan to make regular monthly deposits and want to earn a premium rate on their total balance without deposit caps.

📍 View official contacts for Bank of Melbourne

Bank of Melbourne

Maxi Saver

Rate: 1.00% - 5.10%

Term: 180 days

💰 Fees & Rates

Account-Keeping Fee: $0.00.
Staff assisted transactions (branch and telephone): $0.00.
Note: Fees may apply on the required linked transaction account.

📋 Important Terms

Introductory Rate: 5.10% p.a. for the first 6 months (combination of 1.00% standard variable, 3.65% intro fixed, and 0.45% online bonus).
Online Bonus: Available to new customers opening individual accounts online; joint accounts are ineligible.
Linking Requirement: Must hold an eligible Bank of Melbourne transaction account in the same name.
Access: Unlimited online access to savings with no lock-in period.
Balance: Interest calculated on every dollar with no deposit limits.

💡 Adviser’s Tip

Olesya Krasavtseva Analytic & Editor at Prostobank Consulting

The main advantage of the Maxi Saver is the highly competitive 5.10% p.a. introductory rate, which currently beats most standard savings offers from Canada’s Big Five banks like RBC or BMO. The primary disadvantage is the significant rate drop to 1.00% p.a. after the initial 180-day period, requiring active management to maintain high yields. Compared to TD or Scotiabank’s high-interest accounts, this product offers superior initial growth but requires a linked transaction account. It is best suited for new individual customers in Australia who have a lump sum to deposit and want to maximize short-term earnings while maintaining full liquidity.

📍 View official contacts for Bank of Melbourne

Bank of Queensland (BOQ)

Simple Saver Account

Rate: 0.05% - 4.55%

Sum: $5,000,000

💰 Fees & Rates

Monthly account keeping fees: $0

📋 Important Terms

Exclusive mobile app savings account available solely through the myBOQ application; cannot be accessed or managed via the classic BOQ desktop online banking portal.
Earns a flat ongoing variable rate without requiring a linked transaction account, minimum monthly deposits, or transaction activity hurdles.
Features a multi-tiered interest structure based on total balance: 4.55% p.a. on balances up to $5,000,000 and drops to a 0.05% p.a. base rate on any portion of the balance exceeding $5,000,000.
Allows users to open and run up to 9 separate individual Simple Saver sub-accounts within the mobile application to isolate different financial goals.
Provides full app-based budgeting tools, direct bill payment tracking with automated due date notifications, and live customer support chat.
Integrates with an optional myBOQ Everyday Account to enable automated debit card transaction round-ups directly into a chosen savings bucket.

💡 Adviser’s Tip

Olesya Krasavtseva Analytic & Editor at Prostobank Consulting

The main advantage of the Simple Saver account is its complete operational freedom, delivering a highly competitive ongoing yield of 4.55% p.a. without forcing customers to clear complex transactional hurdles, maintain active direct debits, or deposit mandatory monthly salary tranches. The primary disadvantage is its restrictive technical architecture, which locks account access exclusively to a smartphone app and completely isolates it from classic BOQ accounts, alongside a massive interest cliff dropping to 0.05% p.a. for large capital deployments past the $5,000,000 cap. Compared to standard liquid savings products from Canada Big Five institutions like RBC or TD Bank—which generally offer low base rates between 1.00% and 1.90% p.a. unless tied to short-term promotional windows—this account provides exceptional, unconditional value for liquid capital. This product is best suited for independent savers, investors holding transient cash reserves, and multi-goal budgeters who want high flexible returns and smart app tracking without the anxiety of missing monthly account activity benchmarks.

📍 View official contacts for Bank of Queensland (BOQ)

Bank of Queensland (BOQ)

Smart Saver Account

Rate: 0.05% - 5.15%

Sum: $5,000,000

💰 Fees & Rates

Monthly account keeping fees: $0
Transaction fees within Australia: $0

📋 Important Terms

Exclusive mobile app savings account intended for individuals aged 36 years and older.
Comes bundled with a myBOQ Everyday transaction account and cannot be accessed via standard desktop Online Banking.
To unlock the maximum interest rate, users must deposit a minimum of $1,000 electronically from an external Australian bank and make 5 or more eligible transactions (Visa purchases, ATM withdrawals, direct debits, or BPAY) using the linked Everyday account each calendar month.
Failing to meet the monthly criteria reverts the interest yield to the 0.05% p.a. base rate across all tiers for the following month.
Interest tiers apply to the combined balance of up to 9 sub-accounts: 5.15% p.a. on balances up to $250,000, and a flat 0.05% p.a. base rate on balances from $250,000 to $5,000,000.
Interest is calculated daily and paid into the savings account on the first day of the following month.

💡 Adviser’s Tip

Olesya Krasavtseva Analytic & Editor at Prostobank Consulting

The main advantage of the Smart Saver account is its highly competitive top-tier yield of 5.15% p.a. on liquid balances up to a generous $250,000 cap, featuring zero monthly maintenance fees, transaction round-ups, and the ability to run 9 separate savings goals. The primary disadvantage is the strict app-only operating system that separates it from classic online banking, combined with a severe rate drop to 0.05% p.a. if monthly deposit or transaction thresholds are missed, plus total yield dilution on any capital exceeding $250,000. In comparison to standard savings products from Canada Big Five institutions like RBC or TD Bank—which generally cap everyday liquid yields between 1.00% and 2.25% p.a. and often impose higher balance requirements to waive transaction fees—this account offers far greater earning potential for liquid capital. This product is best suited for tech-savvy Australian savers aged 36 and over who maintain consistent electronic income deposits, perform regular debit transactions, and want to optimize high liquid yields on cash tranches strictly below $250,000.

📍 View official contacts for Bank of Queensland (BOQ)

BankSA

Maxi Saver

Rate: 1.25% - 5.35%

💰 Fees & Rates

$0.00 account-keeping fee
$0.00 fee for staff-assisted services via branch and telephone
Fees and charges may apply separately on the mandatory linked transaction account

📋 Important Terms

Maximum promotional interest rate of 5.35% p.a. is available for the first 6 months only
The 5.35% p.a. rate consists of a 1.25% p.a. standard variable rate, a 3.65% p.a. introductory fixed rate, and a 0.45% p.a. online bonus rate
Online bonus rate of 0.45% p.a. is available for a limited time for new individual accounts opened online (joint accounts are ineligible for the online bonus component, capped at 4.90% p.a.)
Reverts to the standard variable rate (currently 1.25% p.a.) after the initial 6-month period expires
Requires a linked eligible BankSA transaction account (such as Complete Freedom) in the exact same name and registration for Internet and Phone Banking
Special promotional offer: Get a $50 cash bonus if you open a new Complete Freedom account alongside the savings account by 8 June 2026 and deposit $50 within 10 days
Interest is calculated on the total balance with no maximum deposit caps or monthly deposit conditions required to earn the promotional rate
Protected by the Australian Government Financial Claims Scheme up to $250,000 per account holder

💡 Adviser’s Tip

Olesya Krasavtseva Analytic & Editor at Prostobank Consulting

The main advantage of the BankSA Maxi Saver is its highly competitive introductory yield of 5.35% p.a. for the first 6 months, which does not impose complex monthly deposit requirements or withdrawal penalties like typical bonus saver accounts. The primary disadvantage is the massive drop in earnings after half a year, when the yield plunges to a lackluster standard variable rate of 1.25% p.a. When compared to online savings products at Canada Big Five banks—such as the Scotiabank Momentum PLUS Savings Account or the RBC High Interest eSavings Account, which offer short-term promotional boosts but typically require long-term funds lock-up or strict transaction limitations to maintain peak yields—BankSA grants complete liquidity and uncapped savings flexibility during the introductory phase. This account is best suited for individuals or new-to-bank savers who have a lump sum ready to park for exactly 6 months to maximize short-term earnings, or those looking to secure the $50 cash incentive before the June 2026 deadline, provided they are prepared to move their capital once the base rate applies.

📍 View official contacts for BankSA

BankSA

Incentive Saver

Rate: 0.1% - 5.15%

💰 Fees & Rates

$0.00 account-keeping fee
$0.00 fee for staff-assisted services via branch and telephone

📋 Important Terms

Maximum interest rate of 5.15% p.a. consists of a 0.10% p.a. variable base rate and a 5.05% p.a. variable bonus rate
To earn bonus interest, the account balance must remain at $0 or above at all times and grow before the last business day of the month
For savers aged 21 years and over, the balance must grow by at least $50 during the month (excluding interest payments)
For savers under 21 years old, the balance must grow by at least $0.01 during the month
Deposits must be completely settled by 9:59pm Sydney time on the last business day of the month to qualify for the bonus rate
If balance growth conditions are not met, only the base rate of 0.10% p.a. applies for that month
Special bundle offer: Receive a $50 cash bonus when opening a new Complete Freedom transaction account alongside this savings account by 8 June 2026 and depositing at least $50 within 10 days
Protected by the Australian Government Financial Claims Scheme up to $250,000 per account holder

💡 Adviser’s Tip

Olesya Krasavtseva Analytic & Editor at Prostobank Consulting

The main advantage of this account is the sustainable 5.15% p.a. maximum yield, which is not limited to an introductory timeframe and encourages long-term saving habits with an exceptionally accessible growth requirement for youth. The primary disadvantage is the extreme penalization for missing the monthly savings goal, where a failure to grow the balance drops the interest rate to an almost non-existent 0.10% p.a. Compared to reward-based savings plans at Canada Big Five institutions, such as the Scotiabank Momentum PLUS Savings Account or BMO Smart Saver, which enforce fixed holding timelines or higher balance limits to capture premium returns, BankSA provides maximum liquidity while rewarding monthly consistency. This product is best suited for disciplined monthly savers, younger individuals under 21, and regular income earners who can configure automatic transfers to guarantee steady balance growth and avoid losing the bonus yield.

📍 View official contacts for BankSA

BankVic

Bonus Saver

Rate: 0.05% - 5.10%

Sum: $5,000,000

💰 Fees & Rates

$0 account keeping fees

📋 Important Terms

Total maximum variable interest rate is 5.10% p.a., combining a variable standard rate of 0.05% p.a. and a variable bonus rate of 5.05% p.a.
To earn the monthly bonus interest, you must deposit at least $100 per calendar month and make no withdrawals
The monthly bonus interest calculation runs from the close of the last day of the prior month to the close of the last day of the current month
If withdrawal or deposit conditions are not met, only the base rate of 0.05% p.a. applies for that month
Bonus interest rate is capped at a maximum balance of $5,000,000
No minimum ongoing balance is required to keep the account active
Funds can be accessed at any time online and in branch, though any withdrawal forfeits the bonus interest for that month

💡 Adviser’s Tip

Olesya Krasavtseva Analytic & Editor at Prostobank Consulting

The main advantage of the Bonus Saver account is its highly competitive peak variable interest rate of 5.10% p.a., which applies to substantial balances up to $5 million without requiring any locked-in investment terms. The primary disadvantage is the binary condition for earning the bonus yield, where even a single minor withdrawal or a failure to make the $100 monthly deposit crashes the interest rate to a virtually non-existent base rate of 0.05% p.a. Compared to high-interest savings accounts at Canada Big Five banks like RBC or TD, which usually pay a flat, tiered standard rate or run brief promotional offers, BankVic demands absolute transactional discipline but rewards consistent savers with a much higher ongoing yield ceiling. This product is best suited for goal-oriented savers, professionals building emergency reserves, or entities with stable cash inflows who can automate a monthly $100 deposit and avoid dipping into their savings pool.

📍 View official contacts for BankVic

BankVic

EasyInvest

Rate: 2.90%

Sum: $5,000,000

💰 Fees & Rates

$0 account keeping fees

📋 Important Terms

Earns a flat variable interest rate of 2.90% p.a. on balances up to $5,000,000
Interest is calculated daily and paid monthly
No minimum balance or regular monthly deposit conditions are required to maintain the account or earn the rate
Account management and fund access are restricted to online channels only

💡 Adviser’s Tip

Olesya Krasavtseva Analytic & Editor at Prostobank Consulting

The main advantage of the EasyInvest account is its unconditional flexibility, allowing savers to earn a stable 2.90% p.a. variable rate on substantial balances up to $5 million without worrying about monthly deposit minimums or withdrawal penalties. The main disadvantage is that the interest yield is considerably lower than dedicated bonus saver or term deposit alternatives, and account access is strictly restricted to online channels, excluding branch or telephone transfers. Compared to high-interest savings accounts from Canada Big Five institutions like the RBC High Interest eSavings or TD ePremium Savings Account—which frequently impose transaction fees for moving funds out or offer baseline rates below 2.00% p.a. unless paired with promotional windows—BankVic offers a clean, penalty-free digital repository. This product is best suited for online-focused savers, emergency fund holders, and individuals who want a highly liquid, mid-tier yielding digital stash where they can deposit and withdraw capital entirely at their own discretion.

📍 View official contacts for BankVic

BankVic

Pension Plus

Rate: 4.10% - 4.40%

💰 Fees & Rates

$0 account keeping fees

📋 Important Terms

Applicant must receive an Australian government pension from Centrelink or the Department of Veterans' Affairs (DVA)
Features a tiered variable interest rate structure: 4.10% p.a. on the portion of the balance up to $51,800, and 4.40% p.a. on the portion of the balance above $51,800
Interest is calculated using the part balance method, meaning different rates apply to each respective tier
Interest is calculated daily and paid twice a year on 30 June and 31 December
No minimum ongoing balance or recurring monthly deposit rules are enforced
Provides full access to funds through both online banking and physical branch networks

💡 Adviser’s Tip

Olesya Krasavtseva Analytic & Editor at Prostobank Consulting

The main advantage of this account is the highly competitive, unconditional tiered variable yield that scales up to 4.40% p.a., providing senior citizens with an excellent yield on liquid funds without forcing them to lock capital into rigid term contracts. The main disadvantage is that interest payments are distributed semi-annually rather than monthly, which delays the compounding growth benefit of the accrued interest over the fiscal year. Compared to senior-centric daily savings and transactional platforms at Canada Big Five institutions like the RBC Sixty Plus Timeline or TD Sixty Plus Everyday plans—which waive baseline service fees but provide negligible interest returns well under 1.50% p.a.—BankVic delivers an investment-grade return profile tailored specifically for pension recipients. This product is best suited for eligible Australian retirees and veterans who want to maximize the earning potential of their government benefit distributions while maintaining immediate, fee-free access to cash via online portals and local branches.

📍 View official contacts for BankVic

BankVic

Little Copper Club

Rate: 4.70%

💰 Fees & Rates

$0 account keeping fees

📋 Important Terms

Account holder must be under 18 years of age
Earns a flat variable interest rate of 4.70% p.a.
Interest is calculated daily and paid twice a year on 30 June and 31 December
No minimum ongoing balance or monthly deposit rules are enforced
Includes entry into an Annual Education Grant Award ($1,000 grant) for members maintaining a balance of at least $250 by the end of June each year
Features a Savings Achievement Award prize draw assessed by the end of November each year
Funds can be accessed at any time online and in branch without impacting the base interest rate

💡 Adviser’s Tip

Olesya Krasavtseva Analytic & Editor at Prostobank Consulting

The main advantage of this account is its highly competitive, unconditional 4.70% p.a. variable interest rate combined with specialized cash rewards like the $1,000 education grant draw, which provides an excellent incentive to build early saving habits. The primary disadvantage is that interest is only paid semi-annually rather than monthly, delaying the immediate compounding benefit of the accrued yield. Compared to youth savings products at Canada Big Five institutions like the RBC Leo’s Young Savers Account or TD Youth Savings Account—which usually provide negligible baseline interest yields under 1.50% p.a. and focus almost exclusively on transaction limits—BankVic offers a remarkably high, investment-grade interest framework for minors. This account is best suited for parents, guardians, and teenagers under 18 who want to park their pocket money or part-time job earnings in a secure, high-yield digital environment that actively rewards balance milestones.

📍 View official contacts for BankVic

Bankwest

Easy Saver

Rate: 2.10% - 5.75%

💰 Fees & Rates

$0 monthly maintenance or account-keeping fees
Transactional fees may apply in accordance with the Easy Saver Product Schedule

📋 Important Terms

Requires a mandatory linked fee-free Bankwest Easy Transaction Account
Initial 4-month promotional tiered variable introductory rates apply exclusively to new account holders: 5.75% p.a. on balances up to $250,000.99, and 4.80% p.a. on the portion of the balance over $250,001
Ongoing tiered standard variable rates apply after 4 months: 5.00% p.a. on balances up to $250,000.99, and 2.10% p.a. on the portion of the balance over $250,001
Introductory offer is restricted to one account per customer (no joint accounts available) and is invalid if the customer held an Easy Saver account with an introductory rate that expired within the last 2 years
Interest is calculated daily using the part-balance tiered method and paid out monthly
Allows unlimited penalty-free transfers between the Easy Saver and the linked Easy Transaction Account at any time
Defaults to digital eStatements via the app and online banking, with optional paper configuration

💡 Adviser’s Tip

Olesya Krasavtseva Analytic & Editor at Prostobank Consulting

The main advantage of the Easy Saver account is its incredibly strong short-term earning potential, combining a top-tier 5.75% p.a. introductory rate with an excellent, condition-free 5.00% p.a. ongoing standard rate on the first quarter-million dollars, providing high liquidity with zero deposit or withdrawal penalties. The primary disadvantage is the severe tiered drop-off for higher balances, where any capital exceeding $250,000.99 falls dramatically to a 2.10% p.a. yield ongoing, combined with the structural requirement of managing a secondary linked clearing account. Compared to flexible digital savings accounts at Canada Big Five institutions—such as the RBC High Interest eSavings or TD ePremium Savings Account, which frequently pay flat baseline rates under 2.00% p.a. and impose administrative transaction fees for moving cash out—Bankwest delivers vastly superior interest benchmarks with total transactional freedom. This product is best suited for retail investors and everyday savers looking to maximize their immediate interest yield on up to $250,000 over a 4-month introductory horizon while retaining instant, digital mobile access to their cash reserves.

📍 View official contacts for Bankwest

Bankwest

Hero Saver

Rate: 0.65% - 5.10%

Sum: $5,000,000

💰 Fees & Rates

$0 monthly account fees
Other transactional fees may apply as listed in the Hero Saver Product Schedule

📋 Important Terms

Maximum interest rate of 5.10% p.a. combines a standard variable base rate of 0.65% p.a. and a variable bonus rate of 4.45% p.a.
To earn the bonus rate, the account balance at the close of business hours on the last business day of the month must be higher than it was on the first business day of the month (excluding interest payments)
The total variable Hero rate of 5.10% p.a. only applies to the portion of the balance up to $250,000.99
For the portion of the balance over $250,000.99 and up to $5,000,000.99, only the standard variable rate of 0.65% p.a. applies
Interest is calculated daily and paid using a tiered part-balance method
Account defaults to digital eStatements via online banking and the app, though customers can manually opt into paper statements

💡 Adviser’s Tip

Olesya Krasavtseva Analytic & Editor at Prostobank Consulting

The main advantage of the Hero Saver account is its highly forgiving and achievable bonus structure, requiring only a net balance increase of even a single cent by the end of the month to unlock a premium 5.10% p.a. yield, without forcing rigid minimum deposit quotas. The primary disadvantage is the strict $250,000.99 tier limit on the bonus rate, past which your earnings aggressively drop to a weak 0.65% p.a. base rate, alongside the binary risk of losing the entire bonus if you net a negative monthly balance. Compared to behavioral savings frameworks at Canada Big Five institutions—such as the Scotiabank Momentum PLUS Savings Account, which binds premium yields to rigid chronological holding milestones (up to 360 days)—Bankwest provides maximum monthly liquidity while enforcing a much simpler net-growth check. This product is best suited for retail investors, everyday savers, and individuals building near-term reserves who can set up automated recurring deposits in the app to guarantee a net positive monthly position without exceeding the quarter-million-dollar bonus threshold.

📍 View official contacts for Bankwest

Bendigo Bank

EasySaver

Rate: 3.55%

💰 Fees & Rates

Monthly service fees: $0
Branch withdrawals: 2 free branch withdrawals per month
Digital transactions: $0 (unlimited free transactions via e-banking or the Bendigo Bank app)

📋 Important Terms

Must be an Australian citizen or resident to apply
New customers signing up via the app require an Australian Driver's licence or Australian Passport for identity verification
Earns a straightforward ongoing variable base interest rate of 3.55% p.a. regardless of savings balance or transaction volume
Interest is calculated daily and paid monthly
Joint or business accounts cannot be opened via the mobile application and require visiting a physical branch

💡 Adviser’s Tip

Olesya Krasavtseva Analytic & Editor at Prostobank Consulting

The main benefit of this high-yield savings tool is its straightforward, no-strings-attached reward structure, which delivers a highly competitive ongoing variable rate of 3.55% p.a. without forcing savers to satisfy aggressive monthly deposit targets or introductory conditional criteria. The primary disadvantage is the friction surrounding real-world cash logistics, as the account caps out at just two free branch withdrawals per month before charging potential over-the-counter handling penalties. Compared to standard liquid storage vehicles managed by Canada's traditional Big Five institutions, which commonly restrict high interest tiers to short-lived introductory promo windows or relegate base growth rates below the 1.50% p.a. benchmark, this account offers exceptional ongoing utility. This product is best suited for self-directed retail savers and digital-first consumers who want a reliable, zero-maintenance cash reservoir to build wealth seamlessly while retaining constant, unpenalized electronic access to their capital.

📍 View official contacts for Bendigo Bank

Bendigo Bank

PiggySaver

Rate: 3.55%

💰 Fees & Rates

Monthly service fees: $0
Bendigo Bank branch withdrawals: $0 (unlimited)
Digital transactions: $0 (unlimited free transactions via e-banking or the Bendigo Bank app)

📋 Important Terms

Designed strictly for children aged 12 years or under
Applicant must be an Australian citizen or resident
Requires full identity verification for both parent/guardian and child (Parent must provide two forms of ID such as a Driver's Licence, Passport, Medicare, or Guardianship order; child must provide a Birth certificate and Medicare card)
Features an ongoing variable interest rate of 3.55% p.a. calculated daily and paid monthly
Includes a complimentary money box when opened in-branch, and a birthday gift for kids aged 4-10 upon branch visits
Not available for business customers; joint accounts must be opened in a physical branch

💡 Adviser’s Tip

Olesya Krasavtseva Analytic & Editor at Prostobank Consulting

The primary advantage of this specialized youth savings vehicle is its generous, unconditional variable return structure, delivering a strong 3.55% p.a. yield from the very first dollar without demanding complex conditional transaction triggers or monthly balance growth criteria. The main downside is that the account completely lacks card access, forcing parents and children to handle all physical cash movements through a branch teller or via digital transfers. When evaluated against early-childhood savings products offered by traditional Big Five networks, which often limit their highest baseline interest tiers to small capped thresholds or relegate non-promotional yields below 1.50% p.a., this plan offers exceptional ongoing wealth-building utility. This product is best suited for proactive parents and guardians who want to teach children under the age of 12 the fundamentals of compound interest while maintaining a completely fee-free, zero-maintenance digital cash reservoir.

📍 View official contacts for Bendigo Bank

Bendigo Bank

Reward Saver

Rate: 0.10% - 4.75%

Sum: $100,000

💰 Fees & Rates

Monthly service fee: $0
E-banking withdrawals: $0 (Free)
Branch and ATM withdrawals: Not available
Deposits: $0 (Free)

📋 Important Terms

Applicants must be an Australian citizen or resident
New customers signing up via the app require an Australian Driver's licence or Australian Passport for identity verification
To unlock the maximum 4.75% p.a. bonus variable rate, the account holder must make at least one deposit per month and grow the balance by the end of each calendar month (excluding interest paid by the bank)
If monthly growth criteria are not met, the interest yield drops to a base rate of 0.10% p.a. for that month
The maximum bonus interest rate is capped on balances up to $100,000
No physical card access is provided; account management is strictly online via e-banking, phone banking, or the mobile app
Not available to business customers; joint accounts must be opened in-branch

💡 Adviser’s Tip

Olesya Krasavtseva Analytic & Editor at Prostobank Consulting

The main benefit of this incentive-driven savings account is its highly competitive peak variable interest rate of 4.75% p.a. on balances up to $100,000, paired with an entirely zero-fee structure that helps retail depositors aggressively grow capital. The primary disadvantage is its highly restrictive access model, which lacks card functionality and entirely prohibits physical branch or ATM withdrawals, forcing a sudden yield penalty down to 0.10% p.a. if you fail to increase your balance in any given month. Compared to performance savings accounts offered by traditional Big Five networks, which frequently dictate rigid minimum opening capital boundaries or impose transaction limits on digital transfers, this product provides superior ongoing yield potential for disciplined savers. This account is best suited for goal-oriented retail investors, regular salary earners, and emergency fund builders who want a high-yielding, digital-only storage vehicle and can commit to a strict monthly deposit routine without tapping into their capital.

📍 View official contacts for Bendigo Bank

Beyond Bank Australia

Savings Accounts

Rate: 0.01% - 4.65%

BOQ Specialist

Private Access Account

Rate: 3%

💰 Fees & Rates

No monthly account keeping fees.

📋 Important Terms

Interest is calculated daily on the daily closing balance and paid monthly. No minimum balance requirement to start earning interest. Withdrawals are made by transferring funds to a designated bank account via online or mobile banking. Available to Australian citizens, permanent residents, acceptable residents, and registered corporations aged 18 years or older.

💡 Adviser’s Tip

Olesya Krasavtseva Analytic & Editor at Prostobank Consulting

The Private Access Account is a flexible savings product designed for professionals. The standout advantage is the true on-demand access to funds combined with absolutely no monthly account keeping fees or minimum balance requirements. The primary disadvantage is the moderate 3,00% p.a. variable base rate, which can be lower than the maximum bonus rates advertised by the Big Four (Commonwealth Bank, NAB, ANZ, Westpac Bank). However, it avoids the strict monthly deposit and transaction conditions usually required by those major banks to unlock higher yields. This product is best suited for professionals and businesses seeking a straightforward, highly liquid parking spot for their cash without jumping through hoops.

📍 View official contacts for BOQ Specialist

Commonwealth Bank (CBA)

GoalSaver

Rate: 0.25% - 4.75%

💰 Fees & Rates

Monthly account fee: 0 AUD Assisted withdrawal fee: 0 AUD Paper statement fee: 2,50 AUD

📋 Important Terms

Must be 18 years or older to apply online To earn bonus interest, the balance must be higher at the end of the month than at the start Must make at least one deposit of any amount per calendar month

💡 Adviser’s Tip

Olesya Krasavtseva Analytic & Editor at Prostobank Consulting

The GoalSaver account rewards disciplined financial habits, highlighted by a competitive 4,75% p.a. maximum rate. Its main advantage is the lack of withdrawal penalties, provided the overall monthly balance still grows. The significant disadvantage is the punishingly low 0,25% p.a. base rate if the growth conditions are missed. When evaluated against bonus savers from NAB or Westpac, GoalSaver is straightforward but requires strict monthly tracking. It is ideal for consistent, goal-oriented savers who can reliably grow their balance every single month.

📍 View official contacts for Commonwealth Bank (CBA)

Commonwealth Bank (CBA)

Youthsaver

Rate: 2% - 4.8%

Sum: $50,000

💰 Fees & Rates

Monthly account fee: 0 AUD Assisted withdrawal fee: 0 AUD Paper statement fee: 0 AUD

📋 Important Terms

Available for children under 18 years old (under 14 requires a parent or guardian to open) Bonus variable interest applies only to balances up to 50000 AUD To earn bonus interest, the balance must grow each month with at least one deposit

💡 Adviser’s Tip

Olesya Krasavtseva Analytic & Editor at Prostobank Consulting

The Youthsaver is a stellar introductory account for children, with its main advantage being a very high 4,80% p.a. interest rate combined with zero account or withdrawal fees. The primary drawback is the 50000 AUD cap on the bonus rate, though this is rarely an issue for its target demographic. Compared to youth accounts from ANZ or NAB, CommBank adds tremendous value with the integration of the "Kit" pocket money app. This account is perfectly suited for parents wanting to teach their children positive saving habits with tangible, high-yield rewards.

📍 View official contacts for Commonwealth Bank (CBA)

Commonwealth Bank (CBA)

GoalSaver

Rate: 0.25% - 4.75%

💰 Fees & Rates

Monthly account fee: 0 AUD Assisted withdrawal fee: 0 AUD Paper statement fee: 2,50 AUD

📋 Important Terms

Must be 18 years or older to apply online To earn bonus interest, the balance must be higher at the end of the month than at the start Must make at least one deposit of any amount per calendar month

💡 Adviser’s Tip

Olesya Krasavtseva Analytic & Editor at Prostobank Consulting

📍 View official contacts for Commonwealth Bank (CBA)

Commonwealth Bank (CBA)

Term Deposits

Rate: 3.3% - 5.25%

Sum: $5,000 - $5,000,000

Term: 30 days - 5 years

💰 Fees & Rates

Set up and establishment fees: 0 AUD Prepayment interest adjustment and administration fee apply for early withdrawal

📋 Important Terms

Minimum deposit amount of 5000 AUD required Early withdrawals require exactly 31 days advance notice Maximum online limit of 5000000 AUD for individuals (1999999 AUD for SMSFs) Funds default to a secure holding facility post-maturity if no instructions are given

💡 Adviser’s Tip

Olesya Krasavtseva Analytic & Editor at Prostobank Consulting

CommBank's Term Deposits provide locked-in certainty, highlighted by strong rates reaching up to 5,25% p.a. for medium terms. The main advantage is the guaranteed return isolated from market fluctuations, while the primary disadvantage is the strict 31-day notice period and penalty fees required to access funds early. Compared to standard term deposits from NAB or ANZ, CommBank offers a highly secure, automated 6-month holding facility post-maturity to protect funds while you decide the next step. This product is best suited for conservative investors with surplus capital who want a guaranteed yield and definitely will not need the funds during the locked term.

📍 View official contacts for Commonwealth Bank (CBA)

Commonwealth Bank (CBA)

Pensioner Security Account

Rate: 0.05% - 2.6%

💰 Fees & Rates

Monthly account fee: 0 AUD Electronic withdrawal fee: 0 AUD Cheque withdrawal fee: 3 AUD International ATM and EFTPOS fee: 3,50% of transaction value

📋 Important Terms

Designed specifically for customers aged 55 and above Balances of 250000 AUD and over earn the maximum 2,60% p.a. rate Includes an optional linked Debit Mastercard for everyday purchases

💡 Adviser’s Tip

Olesya Krasavtseva Analytic & Editor at Prostobank Consulting

The Pensioner Security Account acts as a hybrid transaction and savings account, offering the primary advantage of earning tiered interest on everyday funds without monthly electronic fees. The main disadvantage is that the maximum interest rate of 2,60% p.a. is quite low compared to dedicated savings accounts, and international fees still apply. In comparison to senior accounts from Westpac or ANZ, CommBank provides an extensive domestic branch and ATM network for comfortable over-the-counter support. It is best suited for retirees who prioritize convenience and branch access over maximizing their interest yield.

📍 View official contacts for Commonwealth Bank (CBA)

Commonwealth Bank (CBA)

NetBank Saver

Rate: 1.95% - 4.95%

💰 Fees & Rates

Monthly account fee: 0 AUD Paper statement fee: 2,50 AUD Transaction listing and ad-hoc statement fee: 2,50 AUD

📋 Important Terms

Must be 14 years or older to apply Requires a linked eligible CommBank transaction account Introductory bonus rate of 4,95% p.a. applies for the first 5 months

💡 Adviser’s Tip

Olesya Krasavtseva Analytic & Editor at Prostobank Consulting

The NetBank Saver is a highly flexible at-call account, with its main advantage being the strong 5-month introductory rate of 4,95% p.a. for new accounts. The primary disadvantage is the sharp drop to a low 1,95% p.a. standard variable rate once the honeymoon period ends. Compared to introductory saver accounts from ANZ or Westpac, CommBank's deep integration with the Goal Tracker in the app provides excellent saving visibility. This product is best suited for individuals looking for a short-term, high-yield parking spot for their cash while maintaining instant access.

📍 View official contacts for Commonwealth Bank (CBA)

Commonwealth Bank (CBA)

NetBank Saver

Rate: 1.95% - 4.95%

💰 Fees & Rates

Monthly account fee: 0 AUD Paper statement fee: 2,50 AUD Transaction listing and ad-hoc statement fee: 2,50 AUD

📋 Important Terms

Must be 14 years or older to apply Requires a linked eligible CommBank transaction account Introductory bonus rate of 4,95% p.a. applies for the first 5 months

💡 Adviser’s Tip

Olesya Krasavtseva Analytic & Editor at Prostobank Consulting

📍 View official contacts for Commonwealth Bank (CBA)

Defence Bank

Savings accounts

Rate: 0.1% - 5.50%

Gateway Bank

Savings Accounts

Rate: 0.1% - 3.6%

G&C Mutual Bank

Savings accounts

Rate: 0.10% - 4.65%

Geelong Bank

Savings Accounts

Rate: 0.01% - 2.71%

Greater Bank

Savings Accounts

Rate: 4.00% - 4.75%

Heritage Bank

Savings Accounts

Rate: 0.01% - 4.90%

Hume Bank

Savings Accounts

Rate: 0.01% - 5.00%

ING Bank

Savings Maximiser

Rate: 0.55% - 5.5%

MyState Bank

Savings Accounts

Rate: 0.05% - 5.00%

NAB

NAB iSaver

Rate: 1.55% - 5%

Sum: $20,000,000

Term: 120 days

💰 Fees & Rates

Monthly account fee: 0 AUD

📋 Important Terms

Total introductory rate of 5,00% p.a. is available for the first four monthsIntroductory rate applies to customers who have not held a NAB iSaver in the last 12 monthsStandard variable rate of 1,55% p.a. applies after the four-month periodBonus interest applies to balances up to 20000000 AUDInterest rate remains unaffected by withdrawals

💡 Adviser’s Tip

Olesya Krasavtseva Analytic & Editor at Prostobank Consulting

The NAB iSaver's biggest strength is its high 5,00% p.a. introductory rate paired with total liquidity, allowing users to withdraw funds at any time without penalty. The clear disadvantage is the significant drop to a 1,55% p.a. standard variable rate once the four-month promotional period ends. When compared to the Westpac eSaver or ANZ Save, NAB's 20 million AUD balance cap for bonus interest is exceptionally high. This account is best suited for new customers with large capital reserves looking for a temporary high-yield "parking spot" while maintaining full access to their cash.

📍 View official contacts for NAB

NAB

NAB Reward Saver

Rate: 0.01% - 4.65%

💰 Fees & Rates

Monthly account fee: 0 AUD

📋 Important Terms

Variable base rate of 0,01% p.a. applies as a minimumVariable bonus rate of 4,64% p.a. is earned by making at least one deposit on or before the second last banking day of the monthNo withdrawals are permitted during the month to qualify for the bonus rateBonus interest is earned on the entire balance with no upper limitIncludes Saving Spaces for goal tracking in the NAB app

💡 Adviser’s Tip

Olesya Krasavtseva Analytic & Editor at Prostobank Consulting

The NAB Reward Saver's primary advantage is the competitive 4,65% p.a. total interest rate that applies to the entire balance without a restrictive cap, which is a significant edge for high-balance savers. However, its main disadvantage is the strict requirement to avoid all withdrawals while maintaining a monthly deposit; failure to meet these conditions drops the yield to a negligible 0,01% p.a. Compared to the Commonwealth Bank GoalSaver or Westpac Life, NAB's lack of a balance limit for bonus interest is superior. This product is best suited for disciplined savers who do not require immediate access to their funds and want to maximize returns on large savings pools.

📍 View official contacts for NAB

P&N Bank

Savings accounts

Rate: 5.00%

Queensland Country Bank

Savings accounts

Rate: 0.15% - 5.05%

Rabobank

Savings Accounts

Rate: 2.50% - 5.75%

RACQ Bank

Savings accounts

Rate: 0.01% - 5.25%

St. George Bank

Savings Accounts

Rate: 1.1% - 5.15%

Suncorp Bank

Growth Saver

Rate: 0.05% - 4.80%

💰 Fees & Rates

No monthly account keeping fee.
Unlimited fee-free Suncorp Bank transactions to and from other Suncorp Bank accounts.
No minimum deposit required to open.
If bonus interest conditions are not met, only the standard variable rate applies.

📋 Important Terms

Bonus interest is earned only for calendar months when the net balance increases by at least $200, excluding interest.
You can make no more than one withdrawal during the month and still qualify for bonus interest.
Interest is calculated daily and paid at the end of the calendar month.
Rates are variable and effective from 26 March 2026, subject to change without notice.
Account can be opened online, in Internet Banking, or in the Suncorp Bank App.

💡 Adviser’s Tip

Olesya Krasavtseva Analytic & Editor at Prostobank Consulting

The main advantage is the high bonus rate for a no-fee savings account, especially for disciplined savers who can add at least $200 per month and avoid extra withdrawals. The main drawback is that the bonus rate is conditional, so the return drops sharply if you miss the monthly deposit and withdrawal rules. Compared with Big Five savings accounts, this is most attractive for customers who want a simple high-interest parking place for cash rather than a full-featured relationship product. It suits goal-based savers who can automate deposits and keep transactions minimal.

📍 View official contacts for Suncorp Bank

Ubank

Save account

Rate: 0.1% - 5.1%

Westpac Bank

Westpac eSaver Online Savings Account

Rate: 1% - 5%

💰 Fees & Rates

Account-Keeping Fee (eSaver account): 0 AUD Westpac Choice linked account fee: 5,00 AUD per month Online, Telephone, and Branch staff assisted withdrawals: 0 AUD Overdrawn Fee: 15 AUD

📋 Important Terms

Age requirement: 14 years or older Must hold a linked Westpac everyday account in the same name Introductory rate condition: The 5,00% p.a. rate only lasts for the first 5 months and is strictly for new eSaver customers applying online Base rate drop: After the 5-month introductory period, the rate reverts to a flat 1,00% p.a. No minimum deposit or monthly balance requirements

💡 Adviser’s Tip

Olesya Krasavtseva Analytic & Editor at Prostobank Consulting

The Westpac eSaver functions as a highly liquid, short-term holding account. Its main advantage is the lack of deposit restrictions, allowing unlimited withdrawals without sacrificing the fixed introductory interest rate of 5,00% p.a. The significant disadvantage is the sharp drop to a poor 1,00% p.a. standard variable rate after the initial 5 months. When evaluated against introductory saver accounts from the Big Four, Westpac's 5-month window provides a decent, albeit temporary, parking spot for cash. This product is best suited for individuals who have a sudden lump sum to deposit and need unrestricted access to those funds while still earning a high return in the short term, before moving the money elsewhere.

📍 View official contacts for Westpac Bank

Westpac Bank

Westpac Life Goal Savings Account

Rate: 0.10% - 4.75%

💰 Fees & Rates

Account-Keeping Fee (Life account): 0 AUD Westpac Choice linked account fee: 5,00 AUD per month Online, Telephone, and Branch staff assisted withdrawals: 0 AUD

📋 Important Terms

Age requirement: 18 years or older Must hold a linked Westpac everyday account (like Westpac Choice) in the same name To earn the 4,65% p.a. bonus interest: You must make at least one deposit each month, ensure your balance is higher at the end of the month than at the start, and never let the balance drop below 0 AUD Promotional offer: Get 50 AUD cashback when you open a new Choice account with an eligible savings account and deposit 50 AUD within 10 days (offer ends 8 June 2026 for new customers)

💡 Adviser’s Tip

Olesya Krasavtseva Analytic & Editor at Prostobank Consulting

The Westpac Life account is a behavioral savings tool designed to build financial discipline. Its primary advantage is the ability to compartmentalize funds into up to 6 distinct "Savings Goals" within one account while earning a competitive 4,75% p.a. total rate when conditions are met. The main drawback is the strict bonus criteria—if you withdraw more than you deposit in a single month, your rate plummets to a negligible 0,10% p.a. Compared to the goal-oriented savings accounts of Commonwealth Bank, NAB, and ANZ, Westpac offers excellent app integration for visualizing targets. It is best suited for diligent savers who can commit to consistently growing their balance month over month without needing frequent withdrawals.

📍 View official contacts for Westpac Bank

Author: Prostobank Consulting

Video Guides

Watch our expert video reviews to navigate Australian banking with ease.

Contacts of companies offering the financial services:

AMP Bank

Address: 2-12 Macquarie St

Contact: 131 267

Web: www.amp.com.au

SWIFT: AMPBAU2S

Stock: AMP

ANZ Bank

Address: 833 Collins Street

Contact: 13-13-14

Web: www.anz.com

SWIFT: ANZBAU3M

Stock: ANZ

ANZ Bank

Address: 833 Collins Street

Contact: 13-13-14

Web: www.anz.com

SWIFT: ANZBAU3M

Stock: ANZ

ANZ Bank

Address: 833 Collins Street

Contact: 13-13-14

Web: www.anz.com

SWIFT: ANZBAU3M

Stock: ANZ

Arab Bank Australia

Address: 20 Bridge Street

Contact: 1800 64 64 84

Web: www.arabbank.com.au

SWIFT: ARABAU2S

Australian Military Bank

Address: 45 Clarence St

Contact: 1300 13 23 28

Web: www.australianmilitarybank.com.au

SWIFT: AUMLAU21

Australian Mutual Bank

Address: 59 Buckingham St

Contact: 13 61 91

Web: australianmutual.bank

SWIFT: CUSCAU2S

Bank Australia

Address: 222 High Street

Contact: 132 888

Web: bankaust.com.au

SWIFT: CUSCAU2S

Bank First

Address: 117 Camberwell Rd

Contact: 1 300 654 822

Web: www.bankfirst.com.au

Bank of Melbourne

Address: 525 Collins Street

Contact: 13 22 66

Web: www.bankofmelbourne.com.au

SWIFT: SGBLAU2S

Stock: WBC

Bank of Melbourne

Address: 525 Collins Street

Contact: 13 22 66

Web: www.bankofmelbourne.com.au

SWIFT: SGBLAU2S

Stock: WBC

Bank of Queensland (BOQ)

Address: 100 Skyring Terrace

Contact: 1300 55 72 72

Web: www.boq.com.au

SWIFT: QBANAU4B

Stock: BOQ

Bank of Queensland (BOQ)

Address: 100 Skyring Terrace

Contact: 1300 55 72 72

Web: www.boq.com.au

SWIFT: QBANAU4B

Stock: BOQ

BankSA

Address: 97 King William St

Contact: 13 13 76

Web: www.banksa.com.au

SWIFT: SGBLAU2S

Stock: WBC

BankSA

Address: 97 King William St

Contact: 13 13 76

Web: www.banksa.com.au

SWIFT: SGBLAU2S

Stock: WBC

BankVic

Address: 107 Victoria St

Contact: 13 63 73

Web: bankvic.com.au

BankVic

Address: 107 Victoria St

Contact: 13 63 73

Web: bankvic.com.au

BankVic

Address: 107 Victoria St

Contact: 13 63 73

Web: bankvic.com.au

BankVic

Address: 107 Victoria St

Contact: 13 63 73

Web: bankvic.com.au

Bankwest

Address: 300 Murray St

Contact: 13 17 19

Web: www.bankwest.com.au

SWIFT: BKWAAU6P

Stock: CBA

Bankwest

Address: 300 Murray St

Contact: 13 17 19

Web: www.bankwest.com.au

SWIFT: BKWAAU6P

Stock: CBA

Bendigo Bank

Address: The Bendigo Centre

Contact: 1 300 361 911

Web: www.bendigobank.com.au

SWIFT: BENDAU3B

Stock: BEN

Bendigo Bank

Address: The Bendigo Centre

Contact: 1 300 361 911

Web: www.bendigobank.com.au

SWIFT: BENDAU3B

Stock: BEN

Bendigo Bank

Address: The Bendigo Centre

Contact: 1 300 361 911

Web: www.bendigobank.com.au

SWIFT: BENDAU3B

Stock: BEN

Beyond Bank Australia

Address: 100 Waymouth St

Contact: 13 25 85

Web: www.beyondbank.com.au

SWIFT: CUSCAU2S

BOQ Specialist

Address: 255 George St

Contact: 1 300 160 160

Web: www.boqspecialist.com.au

SWIFT: QBANAU4B

Stock: BOQ

Commonwealth Bank (CBA)

Address: 1 Harbour St

Contact: 13 22 21

Web: www.commbank.com.au

SWIFT: CTBAAU2S

Stock: CBA

Commonwealth Bank (CBA)

Address: 1 Harbour St

Contact: 13 22 21

Web: www.commbank.com.au

SWIFT: CTBAAU2S

Stock: CBA

Commonwealth Bank (CBA)

Address: 1 Harbour St

Contact: 13 22 21

Web: www.commbank.com.au

SWIFT: CTBAAU2S

Stock: CBA

Commonwealth Bank (CBA)

Address: 1 Harbour St

Contact: 13 22 21

Web: www.commbank.com.au

SWIFT: CTBAAU2S

Stock: CBA

Commonwealth Bank (CBA)

Address: 1 Harbour St

Contact: 13 22 21

Web: www.commbank.com.au

SWIFT: CTBAAU2S

Stock: CBA

Commonwealth Bank (CBA)

Address: 1 Harbour St

Contact: 13 22 21

Web: www.commbank.com.au

SWIFT: CTBAAU2S

Stock: CBA

Commonwealth Bank (CBA)

Address: 1 Harbour St

Contact: 13 22 21

Web: www.commbank.com.au

SWIFT: CTBAAU2S

Stock: CBA

Defence Bank

Address: 31 Queen St

Contact: 1 800 033 139

Web: www.defencebank.com.au

Gateway Bank

Address: 68 York St

Contact: 1 300 302 474

Web: www.gatewaybank.com.au

SWIFT: ASLLAU2C

G&C Mutual Bank

Address: 201 Elizabeth Street

Contact: 1 300 364 400

Web: www.gcmutualbank.com.au

SWIFT: CUSCAU2S

Geelong Bank

Address: 107 Gheringhap Street

Contact: 1300-361-555

Web: geelongbank.com.au/savings-loans/home-loans/1-2-home-loan/?gclid=EAIaIQobChMI54i5ytaa_wIVi9SyCh2KPAJ_EAAYAiAAEgL0v_D_BwE

Greater Bank

Address: 103 Tudor Street

Contact: 13 13 86

Web: www.greater.com.au

SWIFT: ASLLAU2CGBS

Heritage Bank

Address: 400 Ruthven St

Contact: 13 14 22

Web: www.heritage.com.au

SWIFT: HBSLAU4T

Hume Bank

Address: 492 Olive St

Contact: 1 300 004 863

Web: www.humebank.com.au

SWIFT: CUSCAU2S

ING Bank

Address: 60 Margaret St

Contact: 13 34 64

Web: www.ing.com.au

SWIFT: INGBAU2S

Stock: INGA (AMS)

MyState Bank

Address: 137 Harrington St

Contact: 13 80 01

Web: mystate.com.au

SWIFT: MSBBAU3S

Stock: MYS

NAB

Address: 800 Bourke Street

Contact: 13 22 65

Web: www.nab.com.au

SWIFT: NATAAU33

Stock: NAB

NAB

Address: 800 Bourke Street

Contact: 13 22 65

Web: www.nab.com.au

SWIFT: NATAAU33

Stock: NAB

P&N Bank

Address: 556 Wellington St

Contact: 13 25 77

Web: www.pnbank.com.au

SWIFT: PNBLAU2P

Queensland Country Bank

Address: 333 Ross River Rd

Contact: 1 800 075 078

Web: www.queenslandcountry.bank

SWIFT: QCCNAU41

Rabobank

Address: 201 Sussex Street

Contact: 1 800 025 484

Web: www.rabobank.com.au

SWIFT: RABOAU2B

RACQ Bank

Address: 2649 Logan Rd

Contact: 13 19 05

Web: www.racq.com.au

SWIFT: QTMBAU41

St. George Bank

Address: 275 Kent Street

Contact: 13 33 30

Web: www.stgeorge.com.au

SWIFT: SGBLAU2S

Stock: WBC

Suncorp Bank

Address: 80 Ann Street

Contact: 13 11 55

Web: www.suncorpbank.com.au

SWIFT: METWAU4B

Stock: SUN

Ubank

Address: 2 Carrington St

Contact: 13 30 80

Web: www.ubank.com.au

Stock: NAB

Westpac Bank

Address: 275 Kent Street

Contact: 13 20 32

Web: www.westpac.com.au

SWIFT: WPACAU2S

Stock: WBC

Westpac Bank

Address: 275 Kent Street

Contact: 13 20 32

Web: www.westpac.com.au

SWIFT: WPACAU2S

Stock: WBC

Find bank, branch or ATM

Locate the nearest financial services, interactive maps, and contact details across Australia.

Amount, $	Rate, %	Income, $
8 500	0,15%	12,75
8 500	0,15%	12,75
8 500	0,15%	12,75
20 000	2,10%	420,00
20 000	2,10%	420,00
20 000	2,10%	420,00
84 000	4,05%	3 402,00
84 000	4,05%	3 402,00
84 000	4,05%	3 402,00