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Compare Bank Interest Rates
Current bank interest rates, updated regularly – compare interest rates online with our comparison tables.
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Compare banking interest rates free and fast with Finder. On this page you can make quick comparisons of interest rates on mortgages, personal loans, credit cards, savings accounts and term deposits. The products in our comparison tables represent a broad snapshot of the market, with competitive products from banks and lenders big and small.
You can also learn more about how interest rates work below the tables.
Compare bank interest rates for a range of products
*The offers on this page are chosen from a range of products available to us and are not representative of all the products available in the market. The use of the terms "best" and "top" are not product ratings and are subject to our disclaimer. There is no perfect order or perfect ranking system for the products we list on our Site, so we provide you with the functionality to self-select, re-order and compare products. The initial display order is influenced by a range of factors including conversion rates, product costs and commercial arrangements, so please don't interpret the listing order as an endorsement or recommendation from us. We're happy to provide you with the tools you need to make better decisions, but we'd like you to make your own decisions and compare and assess products based on your own preferences, circumstances and needs.
How do I compare interest rates?
An interest rate is simply the amount of money that is charged on top of money that is borrowed (or saved). The higher the interest rate, the higher the interest that is charged (or earned). If you're borrowing money in the form of a mortgage, personal loan or credit card then a lower interest rate is good: it means you pay less interest. But if you're saving money in a bank account or term deposit than a lower rate is bad: your money generates less interest.
An interest rate is expressed as a percentage, which is calculated annually. An interest rate of 2.99% means you will be charged $2.99 per $100 you borrow, per year. For a mortgage with an interest rate of $100,000, you would be charged $2,990 per year in interest. Of course, your monthly repayments will also include an amount towards the loan principal.
How do interest rates impact me?
Interest rates determine how much your repayments are for whatever debt you’ve incurred. For example, if your home loan interest rate goes down, your regular repayments will drop as well. And if your lender doesn’t have as low an interest rate as you’d like, you can refinance to save money on those regular repayments.
To calculate the impact of different types of loans on your monthly repayments, you may to use our range of calculators.
How the RBA cash rate affects interest rates
The Reserve Bank of Australia sets the official cash rate. This affects a lot of interest rates, especially on savings accounts and mortgages. You can check out this page to see where economists and financial experts think the cash rate is heading. We poll the nation’s top economists each month on where they think the RBA cash rate is heading next and also take their temperature on our economy and housing market.
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