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Finder Banking Awards 2023
Recognising Australia’s best banking and savings accounts through comprehensive, objective analysis.
The Finder Banking Awards 2023 celebrate Australia's best transaction, savings and term deposit accounts. Using 12 months' worth of data, Finder's experts have analysed the rates, fees and offer details for every account in our database – that's hundreds of accounts! Check out the winners for the best banking products below.
Finder Banking Awards 2023 Winners
Best Savings Account
The best savings accounts category is awarded to savings accounts with the highest savings rate over a 12 month period.
The ING Savings Maximiser Account has consistently had one of the highest rates in the market over the past 12 months, and currently offers up to 5.5% p.a. You can earn this bonus rate on balances up to $100,000.
The Virgin Money Boost Saver account also had one of the best ongoing bonus rates in the market throughout 2022. This account currently offers an ongoing, variable rate of 5.05% when the conditions are met, plus an additional 0.3% when the Lock Saver feature is enabled.
The MyState Bonus Saver has a combination of a great rate and simple, easy-to-achieve account conditions to earn it. You can earn an ongoing variable rate of 5% when you deposit just $20 per month and make 5 debit card transactions.
Best Young Adult Savings Account
The best young adult savings account category is awarded to savings accounts with the highest savings rate and for people aged between 18 -30 year olds.
The Bank of Queensland Future Saver Account is available for those aged 14-35, which is a larger age bracket than most other savings accounts designed for young adults. The account has consistently had one of the highest total bonus rates in the market over the last 12 months, and currently offers up to 5.4% p.a. Plus, this rate is available on balances up to $50,000 which is higher than other accounts tailored for young adults.
The Westpac Life account consistently had one of the highest, if not the highest rate for young adults in 2022, and still remains one of the highest today. This account currently offers 5.2% for customers aged 18-29 when you grow your balance in the month (by any amount) and make 5+ debit card purchases from your linked Westpac Choice account. This bonus rate is available on balances up to $30,000, which is a bit lower than Bank of Queensand's product.
This account offers an ongoing bonus rate of 5.05% when the account conditions are met, plus an additional 0.3% when Lock Saver Feature is enabled. You can also earn this ongoing bonus rate on balances up to $250,000.
Best Kids Savings Account
The best kids savings accounts category is awarded to savings accounts with the highest savings rate and for people aged between 0 -17 year olds.
The Great Southern Bank Youth eSaver Account has consistently offered one of the highest bonus rates for customers under 18 over the past 12 months, and currently offers up to 5.5% p.a.
This account currently offers an ongoing bonus rate of 5.5% for under 18s, on balances up to $5,000.
Best Transaction Account
The best transaction accounts category is awarded to transaction accounts. This category looked at ATM fees, international fees and overall value of the account.
The Macquarie Transaction Account has no account keeping fees, no international ATM fees and pays a refund on any local ATM fees charged. However what really makes this account unique is that it pays a high interest rate of 4.75% p.a. on balances up to $250,000, with no conditions to meet and complete access to your money.
The HSBC Everyday Global Account has no account keeping fees, no international transaction fees and access to free ATMs around the world. However what really makes this account a great travel option is that you can hold up to 10 different currencies in the one account. This allows you to top up on a particular currency while the exchange rate is good, then spend in that local currency while you're overseas.
The Judo Bank 12-month term deposit was the highest rate in the market for the most amount of months in 2022. Currently you can earn 5.25% on a 12-month term with this account. You can open this term deposit with a low minimum balance of just $1000, and there's also a 0.10% p.a. loyalty bonus available if you roll over your term.
The AMP 12-month term deposit had the next highest rate in the market for the most amount of time in 2022. Currently you can earn 5.2% with this account. This rate is available on balances of $5000 or more.
The Gateway Bank 12-month term deposit had the third highest rate in the market for the most amount of time in 2022. Currently you can earn 5.25% with this account. This rate is available on balances of $1000 or more.
Alison Banney is the money editorial manager at Finder. She covers all areas of personal finance, and her areas of expertise are superannuation, banking and saving.
Alison Banney is the money editorial manager at Finder. She covers all areas of personal finance, and her areas of expertise are superannuation, banking and saving. She has written about finance for 10 years, having previously worked at Westpac and written for several other major banks and super funds.
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Finder Banking Awards 2023 Winners
Best Savings Account
Finder Banking Awards 2023 Winners
Highly Commended
Best Young Adult Savings Account
Highly Commended
Best Kids Savings Account
Highly Commended
Best Transaction Account
Best Travel Debit Card Award
Best Term Deposit (12 months)
