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.

$
$
months
Name Product Maximum Variable Rate p.a. Standard Variable Rate p.a. Bonus Interest p.a. Fees Interest Earned
Westpac Life (18-29 year olds only)
3%
0.2%
2.8%
$0
If you’re between 18-29, you can earn a 3% p.a. variable rate each month you grow your balance (excl. interest) and make 5+ settled debit card purchases from your linked Westpac Choice account, up to a balance of $30,000.
Westpac Life (18-29 year olds only)
0.4%
0.2%
0.2%
$0
If you’re between 18-29, you can earn a 0.4% p.a. variable rate each month you grow your balance (excl. interest) and make 5+ settled debit card purchases from your linked Westpac Choice account, up to a balance of $30,000.
MyState Bank Bonus Saver Account
1.2%
0.1%
1.1%
$0
Ongoing, variable 1.2% p.a. when you deposit at least $20 into the account each month and make 5 or more Visa Debit card transactions from a linked MyState transaction account. Bonus interest available on balances up to $250,000.
MyState Bank Bonus Saver Account
0.1%
0.1%
0%
$0
Ongoing, variable 0.1% p.a. when you deposit at least $20 into the account each month and make 5 or more Visa Debit card transactions from a linked MyState transaction account. Bonus interest available on balances up to $25,000,000.
Virgin Money Boost Saver (25+ year olds)
1.2%
0.1%
1.1%
$0
Customers aged 25+ can earn an ongoing variable 1.2% p.a. each month you deposit at least $2,000 into your linked Virgin Money Go Transaction Account and make 5+ transactions.
Virgin Money Boost Saver (25+ year olds)
1.2%
0.1%
1.1%
$0
Customers aged 25+ can earn an ongoing variable 1.2% p.a. each month you deposit at least $2,000 into your linked Virgin Money Go Transaction Account and make 5+ transactions.
Bank of Queensland Fast Track Starter Account (for 14-24 year olds only)
3%
0.05%
2.95%
$0
Only available to those aged 14-24. Ongoing, variable 3% p.a. when you link to an BOQ Day2Day Plus Account, deposit $200+ into the Day2Day account each month from an external account and make 5 eligible transactions a month. Max bonus interest applies on balances up to $10,000. Balances between $10,001 and $250,000 will earn a lower bonus rate. Base rate applies on balances over $250,000.
Bank of Queensland Fast Track Starter Account (for 14-24 year olds only)
1.05%
0.05%
1%
$0
Only available to those aged 14-24. Ongoing, variable 1.05% p.a. when you link to an BOQ Day2Day Plus Account, deposit $200+ into the Day2Day account each month from an external account and make 5 eligible transactions a month. Max bonus interest applies on balances up to $10,000. Balances between $10,001 and $250,000 will earn a lower bonus rate. Base rate applies on balances over $250,000.
Bank of Queensland Fast Track Starter Account (for 14-24 year olds only)
0.05%
0.05%
0%
$0
Only available to those aged 14-24. Ongoing, variable 0.05% p.a. when you link to an BOQ Day2Day Plus Account, deposit $200+ into the Day2Day account each month from an external account and make 5 eligible transactions a month. Max bonus interest applies on balances up to $10,000. Balances between $10,001 and $250,000 will earn a lower bonus rate. Base rate applies on balances over $250,000.
Citibank Online Saver
1.1%
0.35%
0.75%
$0
Introductory rate of 1.1% p.a. for 4 months, reverting to a rate of 0.35% p.a. Available on balances Up to $500,000.
Citibank Online Saver
0.35%
0.35%
0%
$0
Introductory rate of 0.35% p.a. for months, reverting to a rate of 0.35% p.a. Available on balances Up to $500,000.
Virgin Money Boost Saver (18-24 year olds)
1.2%
0.1%
1.1%
$0
Customers aged 18-24 can earn an ongoing variable 1.2% p.a. each month you deposit at least $1,000 into your linked Virgin Money Go Transaction Account and make 5+ transactions.
Virgin Money Boost Saver (18-24 year olds)
1.2%
0.1%
1.1%
$0
Customers aged 18-24 can earn an ongoing variable 1.2% p.a. each month you deposit at least $1,000 into your linked Virgin Money Go Transaction Account and make 5+ transactions.
Bank of Queensland Fast Track Saver Account
1.05%
0.05%
1%
$0
Ongoing, variable 1.05% p.a. when you link to an BOQ Day2Day Plus Account, deposit $1,000+ into the Day2Day account each month from an external account and make 5+ eligible transactions per month. Available on balances up to $250,000.
Bank of Queensland Fast Track Saver Account
0.05%
0.05%
0%
$0
Ongoing, variable 0.05% p.a. when you link to an BOQ Day2Day Plus Account, deposit $1,000+ into the Day2Day account each month from an external account and make 5+ eligible transactions per month. Available on balances up to $1,000,000.
Virgin Money Grow Saver
0.65%
0.1%
0.55%
$0
Earn an ongoing variable 0.65% p.a. each month you make at least one deposit of any amount and no more than one withdrawal.
Bankwest Hero Saver
0.7%
0.01%
0.69%
$0
Ongoing, variable 0.7% p.a. rate when you deposit at least $200 each month and make no withdrawals. Available on balances up to $250,000.99.
Bankwest Hero Saver
0.01%
0.01%
0%
$0
Ongoing, variable 0.01% p.a. rate when you deposit at least $0 each month and make no withdrawals. Available on balances up to $5,000,000.99.
Great Southern Bank Youth eSaver Account (10-17 year olds only)
1%
1%
0%
$0
Ongoing, variable 1% p.a. Available on balances up to $5,000,000,000. Available for those aged 10-17 years.
Great Southern Bank Youth eSaver Account (10-17 year olds only)
2.5%
2.5%
0%
$0
Ongoing, variable 2.5% p.a. Available on balances up to $5,000. Available for those aged 10-17 years.
HSBC Flexi Saver Account
0.25%
0.05%
0.2%
$0
Ongoing, variable 0.25% p.a. when you grow your balance by $300+ per month. Earn bonus interest even if you make withdrawals during the month. Available on balances up to $5,000,000.
HSBC Flexi Saver Account
0%
0%
$0
Ongoing, variable 0% p.a. when you grow your balance by $300+ per month. Earn bonus interest even if you make withdrawals during the month. Available on balances up to $5,000,000,000.
Westpac Life
0.4%
0.2%
0.2%
$0
Ongoing, variable 0.4% p.a. each month you deposit money, and make sure your balance is higher at the end of the month than it was at the beginning. No monthly account-keeping fee.
HSBC Serious Saver
0.3%
0.15%
0.15%
$0
Receive a maximum variable rate of 0.3% p.a. for 4 months, reverting to an ongoing rate of 0.15% p.a. for each month you don't make any withdrawals from the account. Available on balances below $1,000,000.
HSBC Serious Saver
0%
0%
$0
Receive a maximum variable rate of 0% p.a. for months, reverting to an ongoing rate of 0% p.a. for each month you don't make any withdrawals from the account. Available on balances below $1,000,000.
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Name Product Card access ATM Withdrawal Fee Fee Free Deposit p.m. Monthly account fee
HSBC Everyday Global Account
Visa
$0
$0
$0
Special offer: $100 cash bonus for new HSBC customers.
Earn 2% cashback on tap and pay purchases (T&C's apply).
Enjoy no minimum ongoing balance or transaction requirements and the flexibility to hold up to 10 currencies. Apple Pay and Google Pay available.

NAB Classic Banking
Visa
$0
$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.
MyState Bank Glide Account
Visa
$0
$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.
Virgin Money Go Account
Visa
$0
$0
Special offer: Welcome bonus of 5,000 Virgin Money Points (T&Cs apply).
$0 monthly account fee.

A transaction account that gives you Virgin Money Points on your everyday spend, access to perks and rewards. Plus, earn a competitive bonus interest rate on your Virgin Money Boost savings account.
Suncorp Everyday Options Account
Visa
$0
$0
$0
Link up to 9 interest-earning sub accounts.
$0 monthly account keeping fees.
Earn interest on your linked sub accounts to help you save for individual goals, with no account fees to pay. Make contactless payments using Google Pay and Apple Pay.
Great Southern Bank Everyday Snap Account
Visa
$0
$0
$0
Refund of international ATM withdrawal fees and international card transaction fees (conditions apply).
$0 monthly account fee. Unlimited fee-free everyday transactions.
Apple Pay, Google Pay and Samsung Pay available. Savings Top Up tool automatically transfers to linked savings account.
Citi Global Currency Account
Mastercard
$0
$0
$0
Earn up to 0.75% p.a. interest on your AUD balance.
$0 monthly account fee.
Enjoy one linked debit card to hold up to 10 currencies and receive foreign currencies for free.
Great Southern Bank Everyday Account
Visa
$0
$0
$0
Enjoy flexible payment options and access to a wide network of ATMs.
$0 monthly account fee.
Access to Google, Samsung and Apple Pay. Enjoy fee-free cash withdrawals from 10,000+ ATMs across Australia.
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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.
Judo Bank Term Deposit
0.85%
-
-
0.90%
-
1.00%
1.20%
Earn a 0.10% p.a. loyalty bonus when you roll over your term.
The Judo Bank Term Deposit term lengths range from three months to five years. Minimum opening deposit is $1,000. No account-keeping or set-up fees to pay.
Citibank Term Deposit $10,000
0.75%
-
-
0.75%
-
0.75%
-
Suited to customers with deposits between $10,000 and $249,999.
This term deposit is for new Citibank customers only
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Name Product Card access ATM Withdrawal Fee Fee Free Deposit p.m. Monthly account fee
Commonwealth Bank Business Transaction Account ($0 Monthly Account Fee Option)
Visa
$0
$0
$0
An everyday business transaction account with a no monthly account fee option and a linked Business Visa Debit card to help you manage your expenses. Make unlimited electronic transactions for free and receive customised alerts regarding your balances. Flexibility to switch to the $10 monthly account fee option and get 20 assisted transactions per month.
NAB Business Everyday Account ($0 Monthly Fee Option)
Visa
$0
$0
$0
$0 monthly account-keeping fee.
Unlimited standard electronic transactions.
Sign up for a NAB Business Transaction Account and enjoy free digital transactions, no monthly fees, and a linked NAB Visa Debit card at no cost.

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Name Product Standard brokerage fee Inactivity fee Markets International
eToro (US, EU stock trading)
US$0
US$10 per month if there’s been no login for 12 months
Global shares, US shares, ETFs
Yes
Zero brokerage share trading on US stocks with trades as low as $50.
Join the world’s biggest social trading network when you trade stocks, commodities and currencies from the one account.
Superhero share trading
$5
No
ASX shares, ETFs
No
Pay zero brokerage on all Australian ETFs.
Trade ASX stocks with a flat $5 commission fee and a low minimum investment of just $100.
ThinkMarkets Share Trading
$8
No
ASX shares, ETFs
No
Limited offer: Get 5 free ASX trades when you open a new account with ThinkMarkets before June 30, 2021 (T&Cs apply).
Buy and sell CHESS sponsored ASX shares with $0 brokerage on your first 5 trades. Only $8 flat fee brokerage thereafter, plus enjoy free live stock price data on an easy to use mobile app.
Bell Direct Share Trading
$15
No
ASX shares, mFunds, ETFs
No
⭐ Finder Exclusive: Get 5 free stock trades and unlimited ETF trades until July 31, 2021 when you join 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.
IG Share Trading
Finder Award
IG Share Trading
$8
$50 per quarter if you make fewer than three trades in that period
ASX shares, Global shares
Yes
$0 brokerage for US and global shares plus get an active trader discount of $5 commission on Australian shares.
Enjoy some of the lowest brokerage fees on the market when trading Australian shares, international shares, plus get access to 24-hour customer support.
Saxo Capital Markets (Classic account)
$6.99
No
ASX shares, Global shares, Forex, CFDs, Margin trading, Options trading, ETFs
Yes
Acess 19,000+ stocks on 37 exchanges worldwide
Low fees for Australian and global share trading, no inactivity fees, low currency conversion fee and optimised for mobile.
CMC Markets Stockbroking
$11
No
ASX shares, Global shares, mFunds, ETFs
Yes
$0 brokerage on global shares including US, UK and Japan markets.
Trade up to 9,000 products, including shares, ETFs and managed funds, plus access up to 15 major global and Australian stock exchanges.
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Important: Share trading can be financially risky and the value of your investment can go down as well as up. “Standard brokerage” fee is the cost to trade $1,000 or less of ASX-listed shares and ETFs without any qualifications or special eligibility. If ASX shares aren’t available, the fee shown is for US shares. Where both CHESS sponsored and custodian shares are offered, we display the cheapest option.

Banking products

Investment accounts

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

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

Promoted
Savings account offer
Savings account offer
Promoted
3.00 % p.a.
max rate
0.20 % p.a.
standard variable rate
  • Maximum rate: 3% p.a.
  • Standard variable rate: 0.2% p.a.
  • Monthly fees: $0

Westpac Life (18-29 year olds only)

If you’re between 18-29, you can earn a 3% p.a. variable rate each month you grow your balance (excl. interest) and make 5+ settled debit card purchases from your linked Westpac Choice account, up to a balance of $30,000.

Find the right savings account for you

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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

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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2 Responses

    Default Gravatar
    QuentinFebruary 4, 2015

    Do you have a honeymoon period?

      Avatarfinder Customer Care
      MarcFebruary 4, 2015Staff

      Hi Quentin,

      Thanks for the question.

      You can find information about honeymoon period home loans in our guide and compare them to other loans.

      Before applying, please ensure that you meet all the eligibility criteria and read through the details of the needed requirements as well as the relevant Product Disclosure Statements/Terms and Conditions when comparing your options before making a decision on whether it is right for you.

      Cheers,
      Marc

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