Get rewarded with bonus interest even when you make withdrawals.
Banks and deposit taking institutions will pay you extra interest when you meet certain conditions, such as making no withdrawals – it’s a great incentive to keep saving. But there are times when you’ll need cash: sick children, injured pets and car and house repairs are common unexpected costs. Make a withdrawal from your savings account for whatever reason and you miss out on the bonus interest. If you want access to your savings account and a high interest rate, compare flexible savings accounts with loyalty bonuses on this page.
standard variable rate
High Interest Savings Account Offer
Ongoing, variable 2.50% p.a. when you deposit $300+ each month (other conditions apply). Available on balances up to $5,000,000.
- Maximum Rate: 2.50% p.a.
- Standard Variable Rate: 1.25% p.a.
- Monthly deposit required: $300.00
- Monthly fees: $0.00
Flexible savings accounts with a loyalty bonus
The following products are savings accounts that give you bonus interest and the flexibility to make withdrawals.
HSBC Flexi Saver
HSBC rewards you with a maximum 2.50% p.a. interest on your Flexi Saver balance. You can make as many withdrawals from this high interest savings account as you like, as long as your account balance at the end of the month is $300 higher than your balance at the start of the month. HSBC offers this rate on Flexi Saver account balances up to $5,000,000.
ING Savings Maximiser
ING rewards you with up to 2.80% p.a. interest on your ING Savings Maximiser savings account. To get the loyalty bonus, open an ING Orange Everyday bank account and deposit $1,000 or more each month. Set up direct salary credit to keep getting the bonus interest, and you’re free to make withdrawals as often as you like. This offer is available on balances up to $100,000 in value.
ME Bank Online Savings Account
The ME Bank Online Savings Account gives you a loyalty bonus when you use the ME Bank Transaction Account Mastercard Debit Card to make a tap and go purchase each month. You’ll need both accounts to get the full rate of interest, but if you meet this condition you’ll be rewarded with up to 2.95% p.a. You’re free to make as many withdrawals as you like and if you don’t make a tap and go purchase using the ME Bank Mastercard Debit Card, your savings account balance will simply accrue interest at the base variable rate of 1.30% p.a.
UBank USaver Ultra
The USaver Ultra is linked to the UBank Ultra Transaction Account and if you deposit 200 or more into either account each month, Ubank will reward you with up to 2.87% p.a. on your USaver Ultra balance. You’re free to make withdrawals from this savings account; bonus interest applies as long as you meet the deposit condition.
What about introductory rate high interest savings accounts?
Savings accounts come in two flavours: The type discussed above, which reward you with high interest when you meet certain conditions, or the type that rewards you with high interest for an introductory period. The promotional bonus interest rate applies for the entire introductory period, you can make as many withdrawals as you like and there are no deposit requirements. At the end of the introductory period, your savings account balance will accrue interest at the base variable rate of interest.
Compare these accounts below
There are no fees for switching to another savings account, so you can keep getting the high introductory bonus interest rate.
Authorised deposit taking institutions such as banks and credit unions reward you with bonus interest when you meet certain conditions. Introductory rate savings accounts are more flexible, but the introductory bonus rate won’t last. If you want to make withdrawals and you want bonus interest, compare introductory rate savings accounts and savings accounts with no conditions on withdrawals.
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