The Finder Score is a simple score out of 10. The higher a savings account's score, the better we think it is for the average customer.
We score each savings account in our database of hundreds based on a data-driven methodology with 2 main criteria: Does the account offer a high interest rate? And is it easy for savers to actually earn that rate?
Want more interest on your savings?
Compare now and find a better rate.
We assess multiple product features for transaction accounts from over 100 providers and assign each product a score out of 10.
Looking for a better bank account?
Compare everyday accounts and find one that works harder for you.
Finder Score assigns Term Deposit products a score out of 10, comparing interest rates and features, to make comparison easier. We assess over 150 products from more than 90 providers, assessing products across different terms to determine an average score per product.
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Compare term deposits to grow your savings with confidence.
Macquarie Bank was a big winner in the 2026 Finder Awards.
Full list of 2026 savings account winners
Applying online for a new bank account is fast and easy. You'll need identity documents such as your driving licence or passport. For more about the process, check out our full guide to opening an account online.
Get the certainty of a fixed return when you invest your money in a Macquarie Bank Term Deposit for periods ranging from 1 month to 5 years.
With no fees and easy access to your money, Macquarie Bank makes your everyday transactions simple.
Earn a decent interest rate with the Macquarie Bank Savings Account and pay no fees to open this account or access your money.
If you are looking for a secure hub from which to manage your investment funds, the Macquarie Bank Cash Management Account may have the flexibility you need.
I want to deposit $100,000 into the savings account that at present has the introductory rate of 4.85%. How do i transfer money on line, i presume my current bank will ask questions. Is it a quick process, I am trying to beath the drop in interest rates. Thank you.
Hi Lynn,
The rate on this (and other high interest savings account) will be reduced in line with RBA rate cuts, so there’s no way to beat it unfortunately. You can open an account and transfer funds online through internet banking; you may have a limit on your fund transfers, meaning you’ll have to update the limit (which can take a few business days to approve) or you can transfer funds over a number of days. Hope this helps!
Hi I’m an Australian citizen for tax reasons but have a base overseas so I don’t have a aus phone no for banking, is there a bank I can use that sends notifications by email, WhatsApp or other way?? Thanks
Hi Andrew, Many banks now send notifications via their app (including all of the Big 4), so that’s an option for you to consider.
Why do my credentials not match up when logging in to Macquarie Bank. I have just set up an account with my password.
Hi Carol, We’re a comparison site, so we can’t directly help you with this issue – you’ll need to chat to Macquarie itself. You can contact the bank on 133 174.
I am looking at setting up an “emergency” type savings account with strong interest. I would deposit approx $20k and hope to only withdraw money if something unforeseen comes up, while depositing money as and when required.
The Macquarie Bank is offering 4.8% max for 4 months to a variable rate of 4% after 4 months.
Do you believe that this would be the type of account that suits my needs, or am i missing something?
Cheers
Ian
Hi Ian,
We’re not licenced to give personal financial advice so we can’t comment on your specific situation. But we can confirm this bank does offer a very competitive rate, so if the terms and conditions suit your needs, this could be a great option.
Some other options are outlined here:
https://www.finder.com.au/savings-accounts/high-interest-savings-accounts
Best of luck!
Do you have a participating NAB branch in the Gosford, NSW area which would accept cheques for a Macquarie Bank Savings account?
Hi Christine,
Please note that we are not NAB. You may want to get in touch with NAB directly to see a full list of their branches that would accept cheques.
Regards,
Alison