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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 April 1st, 2020
$
$
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
AMP Saver Account
2.65%
1.05%
1.60%
$0
$0 / $0
Introductory rate of 2.65% p.a. for 6 months, reverting to a rate of 1.05% p.a. The bonus rate offer is for new AMP Saver customers only, and applies to the first $500,000 deposited.
Rabobank Online Savings High Interest Savings Account
2.25%
0.80%
1.45%
$0
$0 / $0
Maximum variable rate of 2.25% p.a. for 4 months, reverting to a rate of 0.80% p.a. No deposit or withdrawal conditions. Available on balances below $250,000
MyState Bank Bonus Saver Account
2.00%
0.30%
1.70%
$0
$0 / $0
Ongoing, variable 2.00% 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.
Suncorp Growth Saver Account
1.90%
0.20%
1.70%
$0
$0 / $0
Ongoing, variable 1.90% 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.
Bank of Queensland Fast Track Saver Account
2.00%
0.20%
1.80%
$0
$0 / $0
Ongoing, variable 2.00% 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.
HSBC Serious Saver
1.85%
0.01%
1.84%
$0
$0 / $0
Receive a maximum variable rate of 1.85% p.a. for 4 months, reverting to an ongoing rate of 0.01% p.a. for each month you don't make any withdrawals from the account. Available on balances below $1,000,000.
UBank USaver
2019 Winner
UBank USaver
1.85%
0.79%
1.06%
$0
$0 / $0
Ongoing, variable 1.85% p.a. when you link your USaver account to a UBank Ultra transaction account and transfer at least $200 per month into either account. The linked transaction account has no monthly fees and no international fees. Bonus interest available on balances up to $200,000.
Citibank Online Saver
2.05%
0.35%
1.70%
$0
$0 / $0
Introductory rate of 2.05% p.a. for 4 months, reverting to a rate of 0.35% p.a. Available on balances below $500,000.
Bankwest Hero Saver
1.50%
0.01%
1.49%
$0
$0 / $0
Ongoing, variable 1.50% p.a. rate when you deposit at least $200 each month and make no withdrawals. Available on balances up to $250,000.
HSBC Flexi Saver Account
1.25%
0.01%
1.24%
$0
$0 / $0
Ongoing, variable 1.25% 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.

Compare up to 4 providers

Updated April 1st, 2020
$
Name Product Card access ATM Withdrawal Fee Fee Free Deposit p.m. Monthly Account Fee
HSBC Everyday Global Account
Visa
$0
$0
No foreign ATM or transaction fees.
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.
Suncorp Everyday Options Account
Visa
$0
$0
Link up to 9 interest-earning sub accounts.
$0 monthly account keeping fees.
Earn 0.55% 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.
Xinja bank account
Mastercard
$0
$0
100% app-based everyday bank account.
$0 monthly account fee.
A digital bank account with no ATM fees in Australia or overseas, plus no currency conversion fees. Xinja app offers spending categorisation features.
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 1.25% p.a. interest on your AUD balance.
CUA Everyday 50+ Account - Customers aged 50+ only
Visa
$0
$0
An everyday transaction account for over 50s with no monthly fees, no ATM withdrawal fees in Australia and with Apple Pay, Google Pay and Samsung Pay available.

Compare up to 4 providers

Updated April 1st, 2020
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
2.10%
2.12%
2.15%
2.00%
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.
MyState Bank Online Term Deposit
1.80%
1.40%
1.45%
1.80%
1.25%
1.85%
1.30%
Single or joint account-holders can apply online with MyState's online application process.
Pay no account setup or ongoing fees and choose a term length between 3 months and 2 years, with interest paid at maturity.
CUA Term Deposit Account
1.60%
1.45%
1.45%
1.70%
1.35%
2.00%
1.20%
No account set-up fees or ongoing fees to pay.
The CUA Term Deposit offers a large range of term lengths from 1 month to five years. Minimum opening deposit is $5,000.
AMP Term Deposit $25,000+
1.40%
1.75%
1.70%
1.85%
1.85%
1.85%
1.40%
Lock your money with AMP Bank Term Deposit Account and enjoy a great competitive rate with no fees.
Citibank Term Deposit $10,000
1.80%
1.80%
Suited to customers with deposits between $10,000 and $249,999.
This term deposit is for new Citibank customers only
AMP Term Deposit $5000+
1.20%
1.55%
1.50%
1.65%
1.65%
1.65%
1.20%
Lock your money with AMP Bank Term Deposit Account and enjoy a great competitive rate with no fees.
Macquarie Bank Term Deposit
1.75%
1.75%
1.75%
1.75%
1.40%
Lock in an interest rate for up to 5 years with a Macquarie Bank Term Deposit. This account is available to personal customers, as well as business customers and trustees.
Citibank Term Deposit 250K
1.90%
1.90%
A short-term investment option with a guaranteed rate of return.
Suited to customers with deposits over $250,000.

Compare up to 4 providers

Updated April 1st, 2020
$
Name Product Card access ATM Withdrawal Fee Fee Free Deposit p.m. Monthly Account Fee
NAB Business Everyday Account ($0 Monthly Fee Option)
Visa
$0
$0
$0 monthly account-keeping fee.
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.

Westpac Business One Account - Low Plan
Mastercard
$0
$0
Unlimited free electronic transactions, 25 free staff-assisted and cheque transactions every month and a linked Business Debit Mastercard.
Commonwealth Bank Business Transaction Account
Visa
$0
$0
An everyday transaction account with no monthly account keeping fee and a linked business Visa Debit card to help you manage your business transactions. Make unlimited electronic transactions for free. Switch to the $10 monthly account fee option and get 20 free staff-assisted transactions per month.
Westpac Business One Account - High Plan
Mastercard
$0
$0
An account designed to handle all of your large volume business transaction needs.
NAB Business Everyday Account ($10 Monthly Fee Option)
Visa
$0
$0
Make unlimited online and staff-assisted transactions for one flat monthly fee.
Enjoy dedicated support from NAB Business bankers available seven days a week.
St.George Business Cheque Account Plus
Visa
$0
$0
This account is ideal for businesses that make a large number of transactions. Pay one $20 monthly account fee and make up to 70 in-branch transactions for free per month.
ANZ Business Advantage
Visa
$0
A convenient everyday transaction account with one monthly fee. You can opt for a free linked ANZ Business Visa Debit card with this account.
ANZ Business Extra
Visa
$0
Enjoy access to ANZ Internet Banking for Business, plus ANZ’s optional Business Overdraft facility, which can be attached to the ANZ Business Extra at your request.

Compare up to 4 providers

Updated April 1st, 2020
Name Product Standard brokerage fee for ASX shares Standard brokerage for US shares Inactivity fee Currency conversion fee Markets
IG Share Trading
AUD 8 or
0.1%
USD 10 or
2 cents per share
$50 per quarter if you make fewer than three trades in that period.
0.50%
ASX shares
Global shares
Forex
CFDs
Margin trading
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.
Bell Direct Share Trading (Silver account)
AUD 15 or
0.1% for first 10 trades monthly
N/A
$0
N/A
ASX shares
mFunds
Invest in Australian shares, options and managed funds from the one account with no inactivity fee.
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.
CMC Markets Stockbroking (Classic account)
AUD 11 or
0.1% for first 10 trades monthly
USD 19.95 for
up to $5000 shares
$15 per month if you make no trades in that period.
Up to 0.60%
ASX shares
Global shares
Forex
CFDs
Margin trading
Options trading
mFunds
Access a broad range of investment products from Australia and overseas.
Take advantage of IPOs and trade shares, warrants, options and CFDs listed across the ASX, SSX and Chi-X, and other major global exchanges, including US, Canada and UK markets.

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

AMP Saver Account

2.65 % p.a.

max rate

1.05 % p.a.

standard variable rate

High interest savings account offer

Introductory rate of 2.65% p.a. for 6 months, reverting to a rate of 1.05% p.a. The bonus rate offer is for new AMP Saver customers only, and applies to the first $500,000 deposited.

  • Maximum Rate: 2.65% p.a.
  • Standard Variable Rate: 1.05% p.a.
  • Introductory period: 6 months
  • Monthly fees: $0.00
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Just some of the financial institutions we compare

Commonwealth Bank
Westpac
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NAB
Rabobank
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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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    QuentinFebruary 4, 2015

    Do you have a honeymoon period?

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