Make your money work harder. Compare 500+ interest rate options for your well-earned cash - updated daily. Compare other products We currently don't have that product, but here are others to consider: Looking for other options? Check out these similar products. Savings accounts with the top rates September 2026 What to look for when comparing savings accounts Compare CommBank, Westpac, ANZ and NAB savings accounts How do savings account interest rates work? How do I get the bonus interest rate on my savings account? Benefits of savings accounts Drawbacks of savings accounts Savings accounts guides and resources What type of savings account is right for you? FAQs on savings accounts Savings accounts with the top rates September 2026 These are the 5 savings accounts with the highest bonus interest rates this month: ING Savings Booster offers an introductory variable rate of 6% for new customers for 4 months, provided you also grow your balance by $100 or more each month (excluding interest). Rabobank High Interest Savings account offers an introductory variable rate of 5.9% for 4 months. Ubank Save offers an introductory variable rate of 5.85% for 4 months on balances up to $1 million Bankwest Easy Saver offers 5.75% for 4 months on balances up to $250,000. Westpac Life (18-40 year olds only) offers an ongoing bonus rate of 5.75% when you grow your balance and make 20 purchases. How does the Finder Score for savings accounts work? The lowdown on Finder Score 9+ Excellent - These savings accounts offer very high interest rates, but be mindful that some may come with specific conditions or requirements you'll need to meet to maximize your returns. 7+ Great - These savings accounts offer competitive interest rates, though slightly lower than the top tier. 5+ Satisfactory - These savings accounts, while helping you get on the ladder, might not offer the most competitive interest rates available. Less than 5 – Basic - These accounts offer lower interest rates, impacting the interest you could earn. Digging deeper into the Finder savings account score How do you truly find the best savings accounts on the market? There's fees, rates and so many different conditions and limits, it's hard for the average person to keep up. The Finder Score is a simple way for you to compare savings accounts at a glance. Here's how the scores work: We analyse hundreds of savings accounts in our database, from the Big Four banks to online banks and local credit unions. We assess each savings account based on how competitive the interest rate is. We also evaluate each account based on what kind of conditions and restrictions the account has (some banks make it easy to earn the max rate, some don't). To calculate how much interest a hypothetical customer could earn with each account we use the following scenario: The account has a starting balance of $35,000. We assume you meet any monthly conditions required to get the bonus rate where applicable. We do not consider any balance restrictions for kids accounts. Interest is calculated daily and accrued monthly over a 2 year period. How does the Finder Score for savings accounts work? The lowdown on Finder Score 9+ Excellent - These savings accounts offer very high interest rates, but be mindful that some may come with specific conditions or requirements you'll need to meet to maximize your returns. 7+ Great - These savings accounts offer competitive interest rates, though slightly lower than the top tier. 5+ Satisfactory - These savings accounts, while helping you get on the ladder, might not offer the most competitive interest rates available. Less than 5 – Basic - These accounts offer lower interest rates, impacting the interest you could earn. Digging deeper into the Finder savings account score How do you truly find the best savings accounts on the market? There's fees, rates and so many different conditions and limits, it's hard for the average person to keep up. The Finder Score is a simple way for you to compare savings accounts at a glance. Here's how the scores work: We analyse hundreds of savings accounts in our database, from the Big Four banks to online banks and local credit unions. We assess each savings account based on how competitive the interest rate is. We also evaluate each account based on what kind of conditions and restrictions the account has (some banks make it easy to earn the max rate, some don't). To calculate how much interest a hypothetical customer could earn with each account we use the following scenario: The account has a starting balance of $35,000. We assume you meet any monthly conditions required to get the bonus rate where applicable. We do not consider any balance restrictions for kids accounts. Interest is calculated daily and accrued monthly over a 2 year period. How Finder Score is calculated The Finder Score methodology is designed by our insights and editorial team. We review products objectively. Commercial partnerships do not affect the scores. Reading the fine print: The Finder Score uses 5 data points to evaluate savings accounts. Each data point is weighted differently based on their importance to the customer. Finder Score weightings - savings accounts Component Weighting Interest earned 70.00% Bonus deposit amount condition 10.00% Balance growth, withdrawals and purchase restrictions 10.00% Age restrictions 5.00% Balance restrictions 5.00% How Finder Score is calculated The Finder Score methodology is designed by our insights and editorial team. We review products objectively. Commercial partnerships do not affect the scores. Reading the fine print: The Finder Score uses 5 data points to evaluate savings accounts. Each data point is weighted differently based on their importance to the customer. Finder Score weightings - savings accounts What to look for when comparing savings accounts A high interest rate When selecting your savings account, the interest rate is key. A higher rate means greater growth potential for your balance. Conditions you can meet Check what conditions you need to meet to earn the bonus or introductory rate and make sure you can easily meet them. Most banks don't charge a monthly fee for a savings account. If you're looking at a savings account that does charge a monthly account fee, know that this is not the norm and most accounts have no fees. Easy access to your money Some savings accounts allow you to withdraw money a few times each month, while some require you make no withdrawals at all. If you need regular access to your savings, pick a savings account that has no limits to withdrawals. Linked accounts Some banks require you to link your savings account with an everyday account in the same bank to qualify for their interest rate or bonus rate. If you do need to get a bank account with the same bank, make sure the bank account doesn't charge high fees. Deposit requirements Some savings accounts will require you to deposit just $20 each month in order to earn bonus interest, while others will require much higher monthly deposits (some up to $2000 a month). Choose one that fits in with your ability to save. Compare CommBank, Westpac, ANZ and NAB savings accounts The big 4 banks have been increasing their monthly savings rates along with the RBA cash rate increases. CommBank, Westpac, ANZ and NAB do not have the highest rates in the market, however, do offer easy to meet conditions. Check out the savings rates for the big 4 below. If you're after higher rates than what the big 4 banks are offering, then use our comparison table . How do savings account interest rates work? Savings rates explained Standard variable rate: This is the base interest rate that you'll earn each month, whether you meet the conditions or not. Bonus variable rate: This is the additional interest you'll earn on top of the standard rate when you meet the account conditions (such as meeting a monthly deposit amount). Total or maximum variable rate: This is the standard rate plus the bonus rate, and is the total interest rate you'll earn when all the conditions are met. Introductory rate: Some savings accounts offer a special, higher introductory rate for the first few months after you open the account. This is an incentive to open the account, but after the introductory period ends the rate will drop to a standard variable rate that's usually much lower. Don't just earn interest - earn cash back. Connect any of these top savings accounts to Finder Shopping and watch your balance grow faster. How do I get the bonus interest rate on my savings account? For a Bonus Saver account , the bonus interest is usually awarded when you're able to deposit a certain amount per month and make no withdrawals. It doesn't matter if you're a new customer or not, but there may be restrictions on the number of accounts you can have. There's a difference between a headline rate and base rate. For an Introductory Bonus account, the bonus interest rate is only awarded for the first couple of months (normally up to 4) and you need to be a new customer. You will also need to be within the balance your bonus rate applies to. In most cases, any balance beyond $250,000 usually earns the standard variable rate. Benefits of savings accounts Savings accounts are a safe investment and are covered by the Financial Claims Scheme up to $250,000 per account holder, per banking licence. They're a great tool to help you save and budget. Savings accounts are liquid, meaning you can easily access the cash. You earn a higher interest rate than your everyday transaction account . You can use a savings account to help you save up for your house deposit. Drawbacks of savings accounts You are usually required to deposit a set amount each month and make no or minimal withdrawals to receive the high bonus interest rate. Savings accounts do not come with a debit card so you're unable to access your cash as easily as transaction accounts. Interest rates for some savings accounts are quite low - you need to shop around for the best rates. "At the moment, most of my money is in a high interest savings account because I appreciate the simplicity. I also know I can take some money out relatively quickly if I need to, which is not the case with some other investments that have higher potential returns." Savings accounts guides and resources New to savings? Compound interest explained Term deposits explained Savings account vs term deposits Savings account types Kids savings accounts Pensioner accounts High interest saving accounts Bonus savers accounts Business accounts Accounts you can withdraw from Calculators & tips Savings interest calculator How to build an emergency fund Automated savings Teaching kids about savings Comparisons & deals Best savings accounts Best savings accounts for children Cashback offers

High balance savings accounts What type of savings account is right for you? The type of savings account you choose will depend on the type of saver you are and what you're trying to achieve. I'm a regular saver: If you can regularly save money each month a bonus saver account with an ongoing bonus rate might be best for you. I'm just looking for the highest rate: Check out high interest savings accounts (and remember to check the account conditions) I'm a business owner: There are dedicated business savings accounts for you. I'm looking for a set-and-forget account with no conditions: Perhaps a term deposit could suit you better, as these don't have any ongoing conditions to meet and are locked until the term expires. FAQs on savings accounts Who has the highest savings rate? As of September 2026 , the highest ongoing savings rate in the Finder database is 5.75% which is offered by Westpac Life. However, it's only for 18-40 year olds and only for balances up to $150,000. Who has the highest savings rate? As of September 2026 , the highest ongoing savings rate in the Finder database is 5.75% which is offered by Westpac Life. However, it's only for 18-40 year olds and only for balances up to $150,000. Can you set up a savings account online? Yes, the majority of banks allow consumers to set up savings accounts online. This is as easy as completing the application process on the bank's website, which should only take 10 minutes or so. You'll need to verify your identity online, so make sure you have your driver's license or another form of ID handy. Once the application is done, you can download the bank's mobile banking app to start using your account. Can you set up a savings account online? Yes, the majority of banks allow consumers to set up savings accounts online. This is as easy as completing the application process on the bank's website, which should only take 10 minutes or so. You'll need to verify your identity online, so make sure you have your driver's license or another form of ID handy. Once the application is done, you can download the bank's mobile banking app to start using your account. Can you add an overdraft on a savings account? No, savings accounts do not usually offer an overdraft feature. This is something that is usually offered with a transaction account instead, as that account is designed for spending while a savings account is designed for saving. Can you add an overdraft on a savings account? No, savings accounts do not usually offer an overdraft feature. This is something that is usually offered with a transaction account instead, as that account is designed for spending while a savings account is designed for saving. How is a savings account different from a bank account? Bank accounts are designed for your daily spending, and come with a debit card to access your money at shops, ATMs and online. A savings account isn't designed to help you spend, but to help you save, so there's no debit card attached. Savings accounts pay interest on our balance each month, as an incentive to save, while bank accounts typically pay no interest. It's not an either or situation: you can have both a savings account and a bank account (in fact it's encouraged that you do!). How is a savings account different from a bank account? Bank accounts are designed for your daily spending, and come with a debit card to access your money at shops, ATMs and online. A savings account isn't designed to help you spend, but to help you save, so there's no debit card attached. Savings accounts pay interest on our balance each month, as an incentive to save, while bank accounts typically pay no interest. It's not an either or situation: you can have both a savings account and a bank account (in fact it's encouraged that you do!). How do I withdraw money from a savings account? Savings accounts usually don't come with a debit card like everyday transaction accounts, so you can withdraw money from the account at ATMs. To access the money in your savings account, simply transfer your money from your savings to your linked everyday account using your mobile banking app or via Internet banking. If you've got your bank account and savings account with the same bank (this is a good idea!), the money will be transferred instantly which you can then access with your debit card. Keep in mind that, depending on the savings account you choose, there may be restrictions as to how often you can withdraw from the account before you forfeit your bonus interest. If you know you want to lock away your funds for a longer period, you may want to consider a term deposit instead of a savings account. How do I withdraw money from a savings account? Savings accounts usually don't come with a debit card like everyday transaction accounts, so you can withdraw money from the account at ATMs. To access the money in your savings account, simply transfer your money from your savings to your linked everyday account using your mobile banking app or via Internet banking. If you've got your bank account and savings account with the same bank (this is a good idea!), the money will be transferred instantly which you can then access with your debit card. Keep in mind that, depending on the savings account you choose, there may be restrictions as to how often you can withdraw from the account before you forfeit your bonus interest. If you know you want to lock away your funds for a longer period, you may want to consider a term deposit instead of a savings account. Why you can trust Finder's banking experts Alison is an editor at Finder and a personal finance journalist with over 10 years of experience, having contributed to major financial institutions and publications such as Westpac, Money Magazine, and Yahoo Finance. She is frequently quoted in media outlets like SmartCompany and SBS, offering expert insights on superannuation and money management. Alison holds a Bachelor of Communications in Public Relations and Journalism from the University of Newcastle, and has earned three ASIC RG146 certifications in superannuation, securities and managed investments and general financial advice, ensuring her expertise is fully aligned with ASIC standards. See full bio Savings accounts, bank accounts and term deposits Budgeting and money-saving hacks Managing the cost of living Get rewarded $$ for switching with Finder Rewards Find a better deal, save on your bills and get a free gift card. Sign up to be the first to hear about new Finder Rewards. Click here to cancel reply. Hi What’s the best savings interest rate on $3m with no fees ? The ING Savings Accelerator , which currently offers up to 5.40% p.a. for 4 months, then ~4.35% ongoing) is specifically designed for amounts up to $5 million. This is one of the highest available rates for large, lump-sum, fee-free savings, with no monthly deposit requirements. However after 4 months the rate drops, and only the first $250,000 of your funds is covered by the government guarantee. Hope this helps! I have 500.00 I want to know which bank give good bonus saving accounts You can review some options for savings accounts with high interest rates and bonus offers here . Note that some accounts require certain conditions to be met, like making a certain number of withdrawals or depositing a certain amount each month, to qualify for the bonus interest. Be sure you look at these conditions as well as the interest rates when making your decision. Hope this helps! Hi, I am wondering what the highest continual interest rate savings account is for a balance of $250,000+ Thanks. Hi Jack, here are a few options for you (note the rates are correct as of 30 September but may change at any time): – Macquarie Savings Accounts offers 4.25% p.a. ongoing for balances up to $2 million (no conditions) – Bank of QLD Simple Saver offers 4.05% p.a. ongoing for balances up to $5 million (no conditions) – Ubank Save offers 4.35% p.a. ongoing (with monthly conditions to meet) for balances up to $1 million – Suncorp Growth Saver offers 4.30% p.a. ongoing (with monthly conditions to meet) for your full balance Hope this helps, Alison Bank offering best interest paying savings account, long term, for pensioner paying $1200 per month into the account? If you’re looking for the best long-term returns, you may want to consider a term deposit. Rates for savings accounts are likely to decrease in line with RBA rate cuts over the next 12 months. You can review some term deposit options here , and some of the best high interest savings account offers here . Hope this helps! I am enquiring about a term deposit in mid June for 6 or 9 or 12 months. What is the best bank rate on depositing $230,000 please? Hi Ian, We can’t predict what the best rate will be for term deposits one month from now. Banks adjust their interest rates quite frequently, so the rates on offer today may not be the same as what’s on offer mid-June. I’d suggest waiting until you’re ready to invest then comparing current rates. Thanks, Alison Read more on Savings Accounts Revolut Instant Access Savings review Check out Finder's review of the Revolut Instant Access Savings account. New Revolut customers can earn up to 5.50% p.a. for the first three months, while everyone else gets daily-paid interest with no minimum deposits or balance conditions. Check out Finder's review of the Revolut Instant Access Savings account. New Revolut customers can earn up to 5.50% p.a. for the first three months, while everyone else gets daily-paid interest with no minimum deposits or balance conditions. Finder Parenting Report 2026 Following a cost of living crisis that won't let up, Finder’s Parenting Report explores how Australians are raising their children in 2026. Following a cost of living crisis that won't let up, Finder’s Parenting Report explores how Australians are raising their children in 2026. Finder Parenting Report 2023 From pocket money to personal loans, Finder’s Parenting Report investigates how Australians are raising their children in 2023. From pocket money to personal loans, Finder’s Parenting Report investigates how Australians are raising their children in 2023. Joint savings accounts 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. 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. Australian interest rate history See historical interest rates for savings accounts since January 2012. See historical interest rates for savings accounts since January 2012. High interest savings accounts Australia Kickstart your savings plan with a high interest savings account. Kickstart your savings plan with a high interest savings account. Kids savings accounts Encourage your children to save with a savings account. Encourage your children to save with a savings account. Bonus interest savings accounts If you need help getting your savings back on track, a bonus saver account with competitive interest may provide you with the incentive and features you need. If you need help getting your savings back on track, a bonus saver account with competitive interest may provide you with the incentive and features you need. Best savings accounts September 2026: top interest rates See some of the best savings accounts in Australia right now with high interest rates and no fees, plus tips to help you find the best savings account for you. See some of the best savings accounts in Australia right now with high interest rates and no fees, plus tips to help you find the best savings account for you. Savings interest calculator Our range of simple calculators can help you plan your finances and compare potential interest earned. Our range of simple calculators can help you plan your finances and compare potential interest earned. Important information about this website Finder is a comparison service. We do not compare every product or every provider in the market. We make money through commercial arrangements with some of the providers on this site. Products marked 'Sponsored', 'Promoted', 'Featured' or 'Advertisement' appear as a result of a commercial arrangement. 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