What you need to know about using finder.com.au to find the best interest rate savings accounts.
finder.com.au is a free comparison service that lets you compare savings accounts side by side so you can see which accounts can offer the best returns on your deposits. We compare a number of interest bearing savings accounts, read this page for information on how to navigate our comparison to find the best interest savings accounts for you.
Find the best interest rate for your situation is important so you'll get the highest return on your hard-earned savings. Making your money work for you can help you reach your financial goals.
standard variable rate
High interest savings account offer
Receive a maximum variable rate of 3.10% p.a. for 4 months, reverting to an ongoing rate of 1.40% p.a. when you make no withdrawals in the month. Available on balances below $1,000,000.
- Maximum Rate: 3.10% p.a.
- Standard Variable Rate: 1.40% p.a.
- Introductory period: 4 months
- Monthly fees: $0.00
Compare savings accounts below with a high interest rate
How do I compare interest-bearing accounts?
You can compare savings accounts by their base interest rate, the bonus interest rate, the fees and the minimum and maximum balance. You can even compare savings accounts by the interest earned on your initial deposit and future monthly deposits over a periods ranging from 1 month to 3 years.
To narrow your comparison of products, click the check box in the comparison table and then click ‘compare’. A pop up window will open displaying the key features of the products you’ve selected.
How do I find the best interest rate for my needs?
We list savings account interest rates in our comparison tables. Some savings accounts have a couple of different types of interest:
The standard variable rate
This is the minimum interest rate applied to your savings account balance.
The bonus interest rate
This is the rate you get when you meet the savings account bonus interest conditions.
The maximum variable rate
This is the most you can get if you meet the bonus interest rate conditions for that account. It’s the base variable rate plus the bonus interest rate.
What our service provides
We also provide an estimate about how much interest you can earn from each savings account. Simply enter your initial deposit, how much you plan to save each month, and for how many months, and you can easily compare the return from each savings account. Click on the arrows in the comparison table headings to order the savings accounts by features like the maximum interest rate and the interest earned on your deposits. This lets you see the best interest rate savings accounts from the products we compare.
You can find out more about a savings accounts by clicking through to our review pages. We outline the pros and cons and highlight anything you need to know to about getting the greatest benefit from the savings account. We also provide links to the account provider’s website where you can securely apply for the product.
What the positive and negative effects of getting the best interest rate?
- You get bonus interest on your savings. This means you'll get a high return on your hard-earned money. There are many different savings accounts that reward you with bonus interest. In many cases, these savings accounts offer rates of interest comparable to some term deposits.
- There are generally no fees for opening a savings account. Savings accounts are generally fee-free. You can earn interest and manage and transfer your money free of charge.
- There is usually no minimum commitment. There is no minimum time you must keep your savings account open. If you have a savings account with an introductory bonus interest period, you can close the account and open another savings account with another provider to keep getting the bonus interest.
- In some cases you'll need to open dual accounts. Some savings account providers require you to hold one of their transaction accounts to get the bonus interest rate.
- Transfer times between banks can take up to 3 business days. Unless you hold a transaction account with the same bank that provides your savings account, transfers between your savings and everyday transaction account can take up to a number of days.
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Are there any risks with trying to get the best interest rate?
- Try to avoid dipping into your savings
To get the most from your savings account, you need to keep making regular deposits, especially if the account has bonus interest conditions like depositing over a certain amount each month. Remember that interest compounds – you can earn interest on interest. A savings account savings plan and automatic transfers to your savings account can help you reach your savings goal.
- Understand the terms and conditions to getting the bonus interest rate – every month
Make sure you’re aware of bonus interest conditions so you can continue to earn the most interest on your deposit. Some accounts restrict the number of withdrawals you can make in a month; while other accounts offer bonus interest for a specific period of time after your open the account.
But wait, I still have more questions!
How do I know I’m getting the best rate from your comparison?
finder.com.au compares a wide number of savings accounts from many different Australian providers. Although our comparison does not encompass all of the savings accounts currently offered in Australia, we try to bring you the most complete comparison we can based on the rates and fees we can track from various providers. If you find a product you think should be part of our comparison, please contact us using the form below.
What happens at the end of the bonus interest introductory period?
If you hold a savings account with an introductory bonus interest period, your savings will accrue at the base variable rate of interest when the introductory period ends.
Can I open a savings account in my business’s name?
The savings accounts we compare on this page are available to personal applicants only. You can compare business accounts here.