Compare a large range of banking products to find the right account for you

Compare a range of Australian banking products below

Finder compares a huge range of savings and transaction accounts. From high interest savings accounts and day-to-day transaction accounts to accounts that reward you with bonus interest for good savings habits, Finder can help you find the right bank account for you.

Rates last updated November 15th, 2019
$
$
months
Name Product Maximum Variable Rate p.a. Standard Variable Rate p.a. Bonus Interest p.a. Fees Min Bal / Min Deposit Interest Earned Product Description
Rabobank Online Savings High Interest Savings Account
2.50%
1.05%
1.45%
$0
$0 / $0
Maximum variable rate of 2.50% p.a. for 4 months, reverting to a rate of 1.05% p.a. No deposit or withdrawal conditions. Available on balances below $250,000
MyState Bank Bonus Saver Account
2.25%
0.55%
1.70%
$0
$0 / $0
Ongoing, variable 2.25% p.a. when you deposit at least $20 into the account each month and make five or more Visa Debit card transactions from a linked MyState transaction account.
Bankwest Hero Saver
1.85%
0.01%
1.84%
$0
$0 / $0
Ongoing, variable 1.85% p.a. rate when you deposit at least $200 each month and make no withdrawals. Available on balances up to $250,000.
ANZ Progress Saver
1.60%
0.01%
1.59%
$0
$10 / $10
Ongoing, variable 1.60% p.a. when you deposit $10+ each month and make no withdrawals. Available on the entire balance.
AMP Saver Account
2.36%
1.40%
0.96%
$0
$0 / $0
Introductory rate of 2.36% p.a. for 4 months, reverting to a rate of 1.40% p.a. The bonus rate offer is for new AMP Saver customers only, and applies to the first $250,000 deposited.
Suncorp Growth Saver Account
1.95%
0.20%
1.75%
$0
$0 / $0
Ongoing, variable 1.95% p.a. when you grow your balance by at least $200 (excluding interest) and make no more than one withdrawal in the month. Available on the entire balance.

Compare up to 4 providers

Rates last updated November 15th, 2019
$
Name Product Debit Card Access ATM Withdrawal Fee Fee Free Deposit p.m. Monthly Account Fee Product Description
Suncorp Everyday Options Account
Visa
$0
$0
Monthly account keeping fee waived for life. $0 account keeping fee offer applies to all new accounts opened from 3 December 2018. Save for your individual goals by linking to up to 9 interest-earning sub accounts. Make contactless payments using Google Pay and Apple Pay
Westpac Choice
Mastercard
$0
$2,000
Special offer: $40 cash bonus for new customers under 30 (T&Cs apply). $5 waivable monthly account fee. Monthly account fee waived if you deposit at least $2,000 a month, are under 21 or if you meet other eligibility criteria. Access more than 50,000 ATMs globally for free via the Global ATM Alliance.
NAB Classic Banking
Visa
$0
$0
Enjoy convenient, unlimited access to your money.
$0 monthly account fee.
Tap and pay with your NAB Visa Debit card or your phone using Apple Pay, Google Pay, Samsung Pay or NAB Pay for Android. Temporarily block your card at the touch of a button if you lose it.
Suncorp Everyday Basics Account
Visa
$0
$0
A simple everyday account with low fees.
$0 monthly account fee.
Enjoy no monthly account keeping fees as well as the option to pay using Google and Apple Pay. Free ATM withdrawals at 3000+ Suncorp and rediATMs.
Bank of Melbourne Complete Freedom
Visa
$0
$2,000
Special offer: $50 cash bonus for new customers (T&Cs apply). $5 waivable monthly account fee. Monthly account fee waived if you deposit at least $2,000 a month, are under 21 or if you're a student. Access ATMs overseas via Westpac's Global ATM Alliance.
St.George Complete Freedom Account
Visa
$0
$2,000
Special offer: $40 cash bonus for new customers (T&Cs apply). $5 waivable monthly account fee. Monthly account fee waived if you deposit at least $2,000 a month. No account fees for students and customers under 21.
BankSA Complete Freedom Account
Visa
$0
$2,000
Special offer: $40 cash bonus for new customers (T&Cs apply). $5 waivable monthly account fee. Monthly account fee waived if you deposit at least $2,000 a month, are under 21 or if you're a student. Access ATMs overseas via Westpac's Global ATM Alliance.
MyState Bank Glide Account
Visa
$0
$0
Simplify your everyday banking with these sleek digital features.
$0 monthly account fee.
Choose the way you pay with access to Google, Samsung and Apple Pay plus Fitbit Pay and Garmin Pay. Send and receive money in less than 60 seconds with PayID.
Citi Global Currency Account
Mastercard
$0
$0
Hold up to 10 currencies.
$0 monthly account fee.
Enjoy one linked debit card to hold up to 10 currencies and receive foreign currencies for free. Earn up to 1.50% p.a. interest on your AUD balance.

Compare up to 4 providers

Rates last updated November 15th, 2019
$
Name Product 3 Mths p.a. 4 Mths p.a. 5 Mths p.a. 6 Mths p.a. 7 Mths p.a. 12 Mths p.a. 24 Mths p.a. Product Description Interest Earned
Judo Bank Term Deposit
-
-
-
2.00%
-
2.00%
1.95%
Earn a 0.10% p.a. loyalty bonus when you roll over your term.
The Judo Bank Term Deposit term lengths range from six months to five years. Minimum opening deposit is $1,000. No account-keeping or set-up fees to pay.
Citibank Term Deposit 250K
2.00%
-
-
1.80%
-
-
-
A short-term investment option with a guaranteed rate of return.
Suited to customers with deposits over $250,000.
MyState Bank Online Term Deposit
1.90%
-
-
1.70%
-
-
-
Single or joint account-holders can apply online with MyState's online application process.
The MyState Bank Online Term Deposit has a choice of term lengths. Interest is paid upon maturity of the term deposit.
Bank of Sydney Term Deposit Online Exclusive
1.85%
1.85%
1.90%
1.90%
1.90%
1.75%
-
$0 monthly account keeping fees.
The Online Exclusive Term Deposit by Bank of Sydney offers term lengths from 1 month to 13 months. Withdraw funds before maturity without notice (fees apply).
Commonwealth Bank Term Deposit
1.25%
1.25%
1.20%
1.25%
1.05%
1.35%
1.15%

Compare up to 4 providers

Rates last updated November 15th, 2019
$
Name Product Debit Card Access ATM Withdrawal Fee Fee Free Deposit p.m. Monthly Account Fee Product Description
NAB Business Everyday Account ($0 Monthly Fee Option)
Visa
$0
$0
Apply for and open a new NAB Business Everyday Account and get 50% off a new Xero subscription for three months. Eligibility criteria and T&Cs apply.
Unlimited standard NAB electronic transactions.
Tap and pay with your NAB Business Visa Debit and your smartphone using Apple Pay, NAB Pay, Samsung Pay or Google Pay.

Compare up to 4 providers

Updated November 15th, 2019
Name Product Monthly fee Standard Brokerage Fee Margin trading - Online
$0
$8.00 or 0.1%
Yes
Special offer: Earn up to 10,000 Qantas Points when you start trading on a new IG Share Trading account. T&C applies.
Enjoy some of the lowest brokerage fees on the market when trading Australian shares, international shares, forex and CFDs, plus get access to 24-hour customer support.
$0
$6.99 or 0.1%
Yes
High quality, low-cost brokerage on global share trading.
Access up to 19,000 global stocks on 36 of the world’s major stock exchanges and enjoy some of the most competitive FX rates on the the market when you trade with Saxo Capital Markets.
$0
$9.50
No
Trade ASX-listed shares for a flat fee of $9.50, regardless of the trade size.
New customers receive free access to Community Insights with SelfWealth Premium for the first 90 days. Follow other investors and benchmark your portfolio performance.
$0
$15 for first 10 trades
Yes
Offer: For a limited time, get a custom deal based on your trading preferences when you switch to Bell Direct.
Bell Direct offers a one-second placement guarantee on market-to-limit ASX orders or your trade is free, plus enjoy extensive free research reports from top financial experts.

Compare up to 4 providers

Banking products

Investment accounts

Building your wealth is also another important aspect of personal finance. Consider diversifying your assets using the financial tools below.

Looking for a specific feature?

One of the best ways to find an account that suits your needs is to look for the features your want.

High interest savings account offer

Rabobank Online Savings High Interest Savings Account

2.50 % p.a.

max rate

1.05 % p.a.

standard variable rate

High interest savings account offer

Maximum variable rate of 2.50% p.a. for 4 months, reverting to a rate of 1.05% p.a. No deposit or withdrawal conditions. Available on balances below $250,000

  • Maximum Rate: 2.50% p.a.
  • Standard Variable Rate: 1.05% p.a.
  • Introductory period: 4 months
  • Monthly fees: $0.00
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Just some of the financial institutions we compare

Commonwealth Bank
Westpac
ANZ
NAB
Rabobank
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ING
HSBC

Australia offers powerful banking solutions.

How do you choose the best banking option for you in Australia?

Australians are used to banking with the best. The four major banks in Australia; Australia and New Zealand Banking Group (ANZ), Commonwealth Bank Of Australia (CBA), National Australia Bank (NAB), Westpac Banking Corporation (Westpac), are used to enjoying world status for offering quality banking solutions. Each of these banks has around and over AUD$70 billion in market capitalisation according to the ASX 200 List. Of course, these banking solutions do come at a cost. But, despite recent 2016 news of the increasing costs that banks are facing, Australians can still enjoy free accounts like savings accounts. The only requirement in many cases is a minimum balance or opening amount. Sometimes it's even a zero on all the usual costs, e.g. monthly fees, minimum balances, and opening balances! You can see whether Australian bank accounts will ever get as expensive as American bank accounts. Finding the cheapest savings account is of course not the only part of banking in Australia. Let's take a look at some of the best products that banks in Australia offer.

What are the types of banking solutions in Australia?

Savings accounts

  • Savings accounts will allow you to deposit money into an account so that it can accumulate interest. Although banks differ in their offerings, there are countless of savings account that won't ask any fees. With a savings account, you have more flexibility in your saving habits than term deposits, but will also generally earn lower interest.

Term deposits

High-interest savings accounts

  • While motivating you to save more money because of higher interest rates calculating daily, these accounts also offer more accessibility to your money. You can reach your savings goal quickly with a high-interest savings account.

Transaction accounts

  • Although there are many different types of transactional bank account offers from, the general purpose is to transact with your world. Transaction accounts make it possible to do EFTPOS transactions, international transactions, store and withdraw money at ATM's, debit orders, credit facilities and student banking.

Debit cards

  • Debit cards form part of transaction-based banking and will allow you to make the most of everyday purchasing. Debit cards are allocated to account holders at banks so that they can access their money in their account and buy items with it. Debit cards features are linked to the different bank accounts they represent.

Share trading

  • Although share trading isn't a bank account, it is a banking service offered by many banks as a value-added product. If you have a bank account at these banks, you can access the share trading platform and start your share trading career!

Business banking

  • A business account is one of the most powerful tools in helping you to run your business. With the right account and a streamlined online banking process, you can save on fees and score great variable interest rates whilst growing your business. Who knows, you might even get connected to a business hub to help your business grow.

Who are the big four banks in Australia?

ANZ

If you take your personal banking to ANZ, you can open many different accounts. These include everyday bank accounts, savings accounts, and term deposits. ANZ banking services are friendly to those migrating and will help to switch over to their online banking system through their online switching service. ANZ offers a solid online banking system that includes the ANZ internet banking platform. The ANZ online banking experience is also useful on mobile and will help you with your banking needs. It was the first of the Australian four to launch Apple Pay.

Commonwealth Bank of Australia

CommBank offers the largest ATM network in Australia, which makes it useful to those who often need cash available to them. They are the leaders when it comes to offering banking solutions through technology. The CommBank online banking system is called Netbank and can help you with international money transfers with support for many popular currencies.

NAB

National Bank of Australia offers flexible savings options for Australians. It often has no fees attached and when you deposit up to $250,000 in a NAB savings account, your money is protected as a part of the Australian Government guarantee. Learn more about the NAB competitive and bonus interest rates here.

Westpac

Westpac has a focus on everyday banking needs and gives its customers easy access to their money. You can use the Westpac online banking platform or Westpac mobile banking experience, while trusting in the encryption technology to keep all the communications secure. They've also added the Westpac Protect security guarantee that safeguards customers from unauthorised transactions. View the Westpac solutions that will allow you to access your money easily.

Australian banking for foreign visitors

Foreigners in Australia contribute to about 28% of the general population. With such a big representation of the total population, it is vital for banks to offer banking solutions to people that do not have official Australian citizenship. You can open a bank account in Australia if you are a student, working in Australia or are migrating to Australia. Learn more about opening a transaction account, savings account or fixed deposit if you're a foreigner in Australia.

How to apply using finder.com.au

If or when you've found an account you'd like to apply for, you can click on 'go to site' or 'open' to be taken to the bank's website. On this page you can enquire for more information, or submit an online application. The application will ask you for your personal and contact details as well as some identification, including your driver’s licence number (if you have one), or your passport number. Once this information has been submitted you’ll usually receive your application number and other important information within the next few business days, and will generally be able to start using your account within 5 to 7 business days.

What do you need to bank in Australia?

To open a bank account in Australia, you will need the following:

  • To apply online, 18 years and older. If you're younger than 18, you can apply at a branch or over the phone.
  • Australian residency for the normal application process. See below if you're a foreigner.
  • Basic details, including identification in the form of a birth certificate, Australian passport, or driver's licence.
  • Certain accounts might require proof of income
  • You will need a Tax File Number (TFN) if it is applicable to your current financial context

Find your local financial institution

Australian financial institutions

Australia’s banking industry is made up of a number of institutions, including: Small, medium and large banks A bank is a deposit taking institution. Australia has four major banks known as the ‘big four’ including the Australian and New Zealand Banking Group (ANZ), National Australia Bank (NAB), Commonwealth Bank of Australia (CBA) and Westpac Banking Corporation. There are a also a range of smaller banks, some of which are owned by the big four.

Credit unions, mutual banks and building societies These are member-owned banking cooperatives which are regulated in the same ways as banks, and offer the same products and services. These cooperatives aren’t publicly listed and so profits go back to members and services rather than shareholders.

Australian Banking regulations

Australia has a well regulated banking industry with constant reforms aiming to make the system fairer and more transparent to consumers. The regulator for Australia’s financial services system is the Australian Prudential Regulation Authority (APRA). APRA works to ensure the industry upholds prudential standards and enforces regulations when institutions do not.


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    QuentinFebruary 4, 2015

    Do you have a honeymoon period?

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