Top savings account rates in March following the RBA’s cash rate rise
The RBA increasing the cash rate again in March is good news for savers as we can expect to see banks raise savings account rates too.
The RBA has increased the cash rate again in March, following an increase last month too.
As a result, we expect to see savings account rates and term deposit rates creep higher too (which is good news if you've got cash in the bank).
Here are some of the top savings rates in March.
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Top savings rates in March
We'll be keeping a close eye on savings account rates to see which banks do increase their offers in the coming days and weeks. In the meantime, here are 7 of the top offers available right now.
1. Judo Bank Savings Account - 5.10% p.a.
This account was only launched to the market last month, but it has one of the best ongoing bonus rates available. You can get 5.10% p.a. on balances up to $250,000 when you deposit at least $300 per month.
2. ING Savings Accelerator - 5.40% p.a.
Earn 5.40% p.a. for the first 4 months on balances between $150k - $500k, followed by an ongoing rate of 4.35% p.a. There are no ongoing conditions to meet.
3. Ubank Save: 5.35% p.a. (increasing to 5.60% p.a. on 24 March!)
Earn 5.35% p.a. for the first 4 months (for new customers), then 4.60% p.a. These bonus rates are availale on balances up to $1 million, when you grow your balance each month.
Ubank has confirmed its welcome rate will increase to 5.60% p.a., and the ongoing bonus rate to 4.85% p.a. on 24 March 2026.
4. Westpac Life - 5.25% p.a.
Earn an ongoing bonus rate of 5.25% p.a. for customers aged 18-34, on balances up to $30,000. To earn the bonus interest rate you need to make a deposit each month, grow your balance and make 20 transactions from the linked Westpac Choice account.
5. Bank of Queensland Future Saver account - 5.10% p.a.
Earn an ongoing bonus rate of 5.10% p.a. on balances up to $50,000 for customers aged 14-35. You need to deposit $1,000 a month and make 5 transactions from the Bank of Queensland bank account.
6. AMP Bank Go Save - 4.60% p.a.
This account offers an ongoing rate of 4.60% p.a. on balances up to $500,000 with zero conditions to meet.
7. ING Savings Maximiser - 5.00% p.a.
Earn an ongoing bonus rate of 5.00% p.a. on balances up to $100,000 when you deposit $1,000 a month, grow your balance and make 5 transactions from the ING Orange Everyday account each month.
If these accounts aren't right for you, you can compare 100+ savings accounts to find one that suits.
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