investment-accounts

Compare best investment accounts

Information verified correct on December 10th, 2016

Want to find the best investment account for you? How much do you like risk?

There are many ways to make your money grow. Cash deposits, such as savings accounts, provide a steady income in the form of interest payments, while trading shares, derivatives and foreign exchange provides the potential for quick capital gains (as well as losses).

Each type of investment account pays a different return on your dollar and has different levels of risk. If you’re looking to earn more, start by considering whether you’re comfortable taking a loss. Other factors, such as investment size and horizon, also play a part. You can find an analysis of each type of investment account below.

ME Online Savings Account

Savings Account Offer

Ongoing 3.05% p.a. variable rate when you link to a ME Everyday Transaction account and make a weekly purchase with your Debit MasterCard using tap & go. Available on balances up to $250,000.

  • Bonus Rate: 1.75% p.a.
  • Monthly Account Fees: $0
  • Minimum Balance: $0
  • Minimum Deposit: $0
    Rates last updated December 10th, 2016
    $
    $
    months
    Maximum Variable Rate p.a. Standard Variable Rate p.a. Bonus Interest p.a. Fees Min Bal / Min Deposit Interest Earned
    ME Online Savings Account
    Ongoing, variable 3.05% p.a. rate when you link to a ME Everyday Transaction account and make a weekly purchase with your Debit MasterCard using tap & go. Available on balances up to $250,000.
    3.05% 1.30% 1.75% $0 $0 / $0 Open More
    Citibank Online Saver
    Introductory rate of 3.00% p.a. for 4 months, reverting to a rate of 1.70% p.a. Available on balances below $500,000.
    3.00% 1.70% 1.30% $0 $0 / $0 Open More
    RaboDirect High Interest Savings Account
    Introductory rate of 3.05% p.a. for 4 months, reverting to a rate of 2.00% p.a. Available on balances below $250,000.
    3.05% 2.00% 1.05% $0 $0 / $0 Open More
    Bankwest Hero Saver
    Ongoing, variable 2.65% p.a. rate when you deposit at least $200 each month and make no withdrawals. Available on balances up to $250,000.
    2.65% 0.01% 2.64% $0 $0 / $0 Open More
    AMP Saver Account
    Introductory rate of 2.55% p.a. for 4 months, reverting to a rate of 2.10% p.a. Available on balances below $5,000,000.
    2.55% 2.10% 0.45% $0 $0 / $0 Open More
    ANZ Online Saver
    Introductory rate of 2.85% p.a. for 6 months, reverting to 1.25% p.a. Available on the entire balance.
    2.85% 1.25% 1.60% $0 $0 / $0 Open More
    Westpac eSaver
    Introductory rate of 2.71% p.a. for 5 months, reverting to a rate of 1.25% p.a. Available on the entire balance.
    2.71% 1.25% 1.46% $0 $0 / $0 Open More
    HSBC Serious Saver
    Introductory rate of 2.25% p.a. for 4 months, reverting to a rate of 1.60% p.a. Available on balances below $1,000,000.
    2.25% 1.60% 0.65% $0 $0 / $0 Open More
    BankSA Maxi Saver
    Introductory rate of 3.00% p.a. for 3 months, reverting to a rate of 1.05% p.a. Available on the entire balance.
    3.00% 1.05% 1.95% $0 $1 / $1 Open More
    Bank of Melbourne Maxi Saver
    Introductory rate of 3.00% p.a. for 3 months, reverting to 1.05% p.a. Available on the entire balance.
    3.00% 1.05% 1.95% $0 $1 / $1 Open More
    BankSA Incentive Saver Account
    Ongoing, variable 1.85% p.a. when you make at least one deposit each month and no withdrawals. Available on the entire balance.
    1.85% 0.01% 1.84% $0 $0 / $0 Open More
    Bank of Melbourne Incentive Saver
    Ongoing, variable 1.85% p.a. when you make at least one deposit and no withdrawals each month. Available on the entire balance.
    1.85% 0.01% 1.84% $0 $1 / $1 Open More
    ANZ Progress Saver
    Ongoing, variable 1.91% p.a. when you link to any Australian everyday bank account and deposit $10+ each month. Available on the entire balance.
    1.91% 0.01% 1.90% $0 $10 / $10 Open More
    Westpac Reward Saver
    Ongoing, variable 1.85% p.a. when you deposit at least $50 and make no withdrawals each month. Available on the entire balance.
    1.85% 0.01% 1.84% $0 $0 / $0 Open More

    No-risk investment accounts

    There is almost no risk in this type of investment. You will make some capital gains with no potential for loss. However, to make big profits, you’re going to have to take on risk.

    Savings accounts

    One of the most widely used types of investments, savings accounts are a no-risk cash investment.

    A savings account:

    • Has no minimum deposit requirements
    • Is an ongoing investment
    • Can earn you an income from interest payments based on the size of your cash deposit
    • Can sometimes pay bonus interest during an introductory period or pay bonus interest when you meet deposit and withdrawal requirements
    • Allows your money to remain available to withdraw when you want
    • Can be accessed either online or at a bank branch
    • Is fee-free
    • Can be used for personal use

    Notice saver accounts

    A notice saver is a hybrid of a term deposit and a savings account.

    Rates last updated December 10th, 2016
    Maximum Variable Rate p.a. Standard Variable Rate p.a. Bonus Interest p.a. Fees Min Bal / Min Deposit
    RaboDirect Notice Saver
    Ongoing, variable 2.60% p.a. when you link to RaboDirect HISA account. Available on balances up to $250,000
    2.60% 2.60% 0.00% $0 $0 / $0 Open More

    A notice saver account:

    • Can pay returns similar to a term deposit
    • Requires that you give the financial institution notice, typically 30, 60 or 90 days, when you want to withdraw your funds
    • Is fee-free
    • Has a variable rate of interest, unlike a term deposit
    • Is an ongoing investment; funds are withdrawn to a linked transaction or savings account
    • Can have no minimum deposit requirements

    Cash management accounts

    A cash management account is like a savings account, but the key difference is that this type of investment account can be opened in the name of a company or trust.

    Rates last updated December 10th, 2016
    $
    Monthly Account Fee Debit Card Access ATM Withdrawal Fee Fee Free Deposit p.m. Details
    AMP Cash Manager
    Ongoing, variable 1.50% p.a. when you link to an AMP Visa debit card and deposit $2,000+ each month. Available on the entire balance.
    Visa $0 $2,000 No transaction fees and waived monthly fee when at least $2,000 is deposited. Open More
    ANZ Premium Cash Management Account
    Ongoing, variable 1.50% p.a. when you link to access card from ANZ. Available on balance $500,000 plus.
    Visa $0.50 More
    Macquarie Cash Management Account
    Invest your money and have at call access plus pay no account keeping fees.
    Visa More
    Bank of Queensland Cash Management Account
    Ongoing, variable 1.55% p.a. when you deposit $5,000+ each month. Available on the entire balance.
    Visa $0.65 $5,000 A monthly fee applies if your balance falls below $5,000. More
    Citibank Cash Investment Account
    Ongoing, variable 1.90% p.a.. Available on balance $250,000 and above.
    Visa $0 $0 Free access to your cash at over 3,000 Citibank, Westpac, St.George, BankSA and Bank of Melbourne ATMs throughout Australia. More
    IMB Cash Management
    Ongoing, variable 1.20% p.a. when you link to IMB Visa debit card. Available on balance $250,000 and over.
    Visa $0.70 $0 No monthly account keep fee with unlimited fee-free phone and Internet banking. More
    NAB Cash Manager
    Ongoing, variable 1.00% p.a.. Available on the entire balance.
    Visa More
    St.George Investment Cash Account
    Ongoing, variable 0.45% p.a.. Available on balance $500,000 and over.
    N/A $0.60 $10,000 More
    Community First Money Market Account
    Ongoing, variable 1.25% p.a. Available on the entire balance.
    N/A $0 More

    A cash management account:

    • Has minimum deposit requirements
    • Works as an intermediary between investments
    • Can be opened as a cash-hub for self-managed super funds (SMSFs) or investors
    • Is used as an account for investment income to be paid into and for expenses to be paid out of
    • Is an ongoing investment where funds are available at-call
    • Can be accessed through your cheque book, a bank branch and online
    • Is interest bearing and generates interest for the account holder
    • Has no monthly fees, although some transactions such as branch withdrawals and cheque payments can attract transaction fees

    Term deposits

    A term deposit is a set and forget investment. You agree to deposit your money for a fixed term and get paid a fixed amount of interest over the life of the investment.

    Rates last updated December 10th, 2016
    $
    3 Mths p.a. 4 Mths p.a. 6 Mths p.a. 12 Mths p.a. 24 Mths p.a. 36 Mths p.a. 48 Mths p.a. 60 Mths p.a. Min Deposit Interest Earned
    Bankwest Online Term Deposit
    Bankwest Online Term Deposit
    2.30% 2.50% 2.70% 2.70% 2.60% 2.60% 2.65% 2.65% $1,000 Open More
    RaboDirect Term Deposit
    RaboDirect Term Deposit
    2.40% - 2.60% 2.70% 2.90% 3.00% 3.05% 3.30% $1,000 Open More
    St.George Term Deposit
    St.George Term Deposit
    2.20% 2.00% 2.30% 2.60% 3.10% 3.20% 2.80% 2.95% $1,000 Open More
    Bank of Melbourne Term Deposit
    Bank of Melbourne Term Deposit
    2.20% 2.00% 2.30% 2.60% 3.10% 3.20% 2.80% 2.95% $1,000 Open More
    BankSA Term Deposit
    BankSA Term Deposit
    2.20% 2.00% 2.30% 2.60% 3.10% 3.20% 2.80% 2.95% $1,000 Open More
    Citibank Term Deposit ($75,000)
    Citibank Term Deposit ($75,000)
    2.50% 2.50% 2.95% 2.35% 2.35% 2.35% 2.35% 2.35% $75,000 Open More
    Westpac Term Deposit
    Westpac Term Deposit
    2.10% 2.00% 2.20% 2.50% 3.00% 3.10% 2.70% 2.85% $5,000 Open More
    ING DIRECT Term Deposit
    ING DIRECT Term Deposit
    2.10% 2.60% 2.10% 3.00% 2.70% - - - $10,000 Open More

    A term deposit:

    • Has a minimum deposit requirement higher than a savings account but often lower than a cash management account
    • Requires you to lock your money away for a term ranging from a couple of months to a couple of years
    • Pays a fixed rate of interest over the life of the investment
    • Is a fee-free investment, though break fees apply for withdrawing funds before the end of the term (maturity)
    • Is available to both personal and institutional investors
    • Is not an ongoing investment, but funds can be rolled over to another term deposit at maturity
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    Risky investment accounts

    These investment accounts have the potential to provide big capital gains as well as big capital losses.

    Share trading accounts

    This type of investment account acts as an intermediary to the stock market and allows you to buy and sell equities and invest in other listed financial instruments on Australian and international stock exchanges.

    Rates last updated December 10th, 2016

    A share trading account:

    • Gives you access to a wide range of investments: shares, CFDs, ETOs, warrants and more
    • Allows you to leverage your investments using margin trading
    • May have fees charged when you open an account, and a commission is charged when you trade
    • Has the potential for capital gains far above what you can get by investing your money in a term deposit, but there is also the potential to lose money if your investments perform poorly
    • Can be opened by both personal and institutional investors
    • Can have funds credited to and withdrawn from it electronically

    Forex trading accounts

    This investment account gives you the ability to speculate and bet on the future movement of international currency pairs.

    Rates last updated December 10th, 2016
    Details Features
    FP Markets FX Trading Account
    FP Markets FX Trading Account
    Trade forex using an Electronic Communications Network (ECN) model, meaning FP Markets doesn't profit from client losses. Two account types to choose from. Spreads: From 0.8 pips Go to site More info
    Plus500 CFD Forex Trading Service
    Plus500 CFD Forex Trading Service
    Trade Australian and international CFDs on shares, forex, indices, commodities and more. $30 welcome bonus available. T&C's apply. Spreads: Spread only Go to site More info
    TradeDirect365 CFD Trading
    TradeDirect365 CFD Trading
    Trade CFDs on over 500 ASX shares, as well as international shares, indices, foreign exchange and commodities with TradeDirect365. Stop loss orders and a 24 hour trade desk available. Spreads : $5 or 0.07% Go to site More info
    IG Forex Trading Account
    IG Forex Trading Account
    Trade from over 10,000 markets with Australia's leading service for CFD trading and forex. Spreads: From 0.6 pips Go to site More info
    eToro Share Trading
    eToro Share Trading
    A social trading and multi-asset brokerage firm. Trade CFDs with a minimum investment of $50. Spreads: From 2 pips Go to site More info
    CMC Markets Forex Trading Account
    CMC Markets Forex Trading Account
    Trade shares, warrants, options, EFTs, managed funds, bonds and IPOs with CMC Markets today. Spreads: From 0.7 pips Go to site More info
    Vantage FX
    Vantage FX
    Low commission fee on trades with $0 account keeping fee. Spreads: From 0.0 pips Get Quote More info

    A forex trading account:

    • Requires specialist knowledge
    • Can be opened by both personal and institutional investors
    • You need to pay fees to the forex platform provider in the form of  spread.
    • Gives you access to other investments such a commodities and managed funds
    • Can leverage investments, which allows you to trade with more capital than you actually have. This trading strategy magnifies your profits and losses, depending on the outcome.

    What about robo advisers?

    Robo advisers are a new type of investment account that can tell you where to invest your money according to your risk profile.

    There are two types of robo adviser services available. Robo advisers such as Six Park require you to invest money in a passively managed investment portfolio. Alternatively, services such as Macquarie Bank Owners Advisory provide advice on your existing investment portfolio.


    The best investment account for you depends on your risk appetite, how much you have to invest and your investment horizon. If you have questions about the different types investment accounts available, get in touch with us using the form below.

    Jacob Joseph

    Jacob is a writer and video journalist with finder.com.au. Credit cards, personal loans and savings accounts are his bread and butter, and he likes nothing more helping people understand the sometimes overly complex world of personal finance.

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    Savings Account Offers

    Learn about our information service
    ME Online Savings Account

    Maximum Variable Rate

    3.05%

    Standard Variable Rate

    1.30
    Citibank Online Saver

    Maximum Variable Rate

    3.00%

    Standard Variable Rate

    1.70
    Bankwest Hero Saver

    Maximum Variable Rate

    2.65%

    Standard Variable Rate

    0.01
    RaboDirect High Interest Savings Account

    Maximum Variable Rate

    3.05%

    Standard Variable Rate

    2.00

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