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 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 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.
This account offers an ongoing bonus rate of 5.05%, plus an additional 0.3% when Lock Saver Feature is enabled.
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.
Best Travel Debit Card Award
Best Term Deposit (12 months)
The best term deposit category is awarded to the term deposit offering the highest interest rate for a 12-month period
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.
🧪 Methodology: How we chose our Finder Award Winners
Our team of expert analysts use an objective rating system to determine our award winners.
- Accounts / institutions which charged a fee were excluded
- Accounts marketed to a select (non-category) audience, e.g.: pensioners only, were excluded
- Data was gathered for 12 months, and products without 12 months of data were excluded (excluding term deposit category)
- We exclude any accounts that are only available to a certain subset of customers based on location
- We exclude any restricted accounts
Meet our experts
Alison Banney - Editorial manager, Money
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.
Insights Analyst, Finder Awards
Saranga is responsible for gathering the data that fuels the Finder Awards. He ensures our winners are based on facts, not biases.
More guides on Finder
The best standing desk in Australia: Our top choice of the year
If you're looking for a standing desk for the home office, the Omnidesk Ascent is our #1 choice for 2023.
Fast NBN plans are now cheaper. Is it worth switching?
It's time to sort out your NBN plan for the new year.
Save $1,583 a year by using index funds instead of active trading | Dollar Saver tip #60
Invest in an index fund instead of actively trading stocks and you not only save on time and fees, you could be earning more in returns too.
5 perks you can score by upgrading your internet this year
SPONSORED: Upgrade your internet before the end of 2023 and get ahead on your life admin! We take a look at some of the benefits of a faster internet connection.
Aussies are struggling to save money, and Gen Z blame themselves
Young Australians cite overspending as the main reason for not reaching their financial goals.
Shein IPO: How to invest in the Shein IPO
What you need to know about investing in Shein from Australia.
Best places to exchange currency in Brisbane
Your guide to currency exchange in Brisbane, including how to get the best exchange rate.
Waiting for rates to fall? Don’t bank on it, says ANZ CEO
Addressing speculation that interest rates might fall in late-2024, ANZ CEO Shayne Elliott said he thought it was too optimistic.
Ask an Expert