Savings accounts that don’t need a linked transaction account

Why get a transaction account too when all you want is a savings account?

Savings accounts are for your savings not your spendings. There are savings accounts that don’t need a linked transaction account and there are savings accounts that do.

We've scoured the internet and found you the best* savings accounts you can open without having to create a new linked transaction account. These accounts can be opened using your existing transaction account.

High interest savings account offer

Citibank Online Saver

2.90 % p.a.

max rate

1.60 % p.a.

standard variable rate

High interest savings account offer

Introductory rate of 2.90% p.a. for 4 months, reverting to a rate of 1.60% p.a. Available on balances below $500,000.

  • Maximum Rate: 2.90% p.a.
  • Standard Variable Rate: 1.60% p.a.
  • Introductory period: 4 months
  • Monthly fees: $0.00
Go to site

Compare savings accounts that don’t need a linked transaction account below

These accounts don't require you to open a linked transaction account with the same financial institution. You can make deposits and withdrawals from these accounts using your existing transaction account, as long as the account is with an Australian financial institution.

Rates last updated April 21st, 2019
Name Product Maximum Variable Rate p.a. Standard Variable Rate p.a. Bonus Interest p.a. Fees Min Bal / Min Deposit Interest Earned Product Description
Citibank Online Saver
$0 / $0
Introductory rate of 2.90% p.a. for 4 months, reverting to a rate of 1.60% p.a. Available on balances below $500,000.
Bankwest Hero Saver
$0 / $0
Ongoing, variable 2.60% p.a. rate when you deposit at least $200 each month and make no withdrawals. Available on balances up to $250,000.

Compare up to 4 providers

These accounts require that you open a transaction account along with the savings account

You are required to open an additional account when you apply for one of these savings accounts.

Institution Accounts
WestpacThe Westpac eSaver must be opened with a Westpac Choice transaction account.
NABThe NAB iSaver must be linked to a NAB transaction account. You’re given the option of opening the NAB Classic Banking transaction account when you apply for the iSaver savings account.
CitibankThe Citibank Plus Transaction Account can be opened with a linked Citibank Plus Savings Account. This is a sub-account of the Citibank Plus. The Citibank Ultimate Saver is a bank account and savings account combo.
RabodirectRabodirect are an online savings bank. If you want to open a Rabodirect High Interest Savings Account (HISA) you’ll need to open a Notice Saver, Premium Saver or term deposit. These accounts are fee free and act as an online transaction account between your everyday bank account and your Rabodirect HISA. You open one of these accounts when you apply for the HISA.
Bank of Melbourne Bank of Melbourne require you to open a Complete Freedom Account. Complete Freedom is a no fee account with a Visa Debit Card.
BankSABankSA Maxi Saver must be linked to an eligible Complete Freedom Account.
Bank AustraliaWhen you apply for the Bank Australia savings account you’re required to become a member of the customer owned financial institution. You get a Everyday Access Account with the option of a debit card linked to your savings account.
St.GeorgeYou must open a free Complete Freedom Account when you apply for a St.George savings account.
Commonwealth Bank You must open a Smart Access, Complete Access, Streamline or Pensioner Security Account when you apply for a NetBank Saver account.
Macquarie BankMacquarie’s Savings Account must be linked to a Macquarie Bank transaction account.
Bank of SydneyIf you want to open a Bank of Sydney SuperRate Account, you need to open a Bank of Sydney transaction account too.
CUACUA will open an additional CUA Everyday Account with a Visa Debit Card when you apply for an eSaver Reward or eSaver Plus Account or CUA eSaver Youth Account.
Your Credit UnionThe Your Credit Union NetSaver Account must be opened with the YCU Everyday Transaction Account.
Bank of Queensland The Bank of Queensland Bonus Interest Savings Account account must be linked to a Bank of Queensland transaction account.
Beyond Bank The Beyond Bank monEsaver online savings account must be linked to a Beyond Bank transaction account.
Back to top

How to choose a savings account on

Use your savings style as a guide for getting to your savings goal. Each savings account has different terms and conditions, so take the time to find out what they are. This can affect how quickly or slowly you reach your financial goals.

What are the different types of savings accounts available?

Bonus introductory period

  • Savings accounts that reward you with bonus interest for an introductory period.

Conditional bonus interest

  • Savings accounts that reward you with bonus interest when you meet deposit and withdrawal requirements.

A flat rate

  • Savings accounts which pay a flat rate of interest.

Tiered rate

  • Savings accounts with an interest rate which increases as your account balance increases.

Each type of savings account has benefits for different types of savers. The bonus intro period savings account is a good idea for someone who doesn’t think they’ll be able to make additional contributions whereas a conditional bonus interest offer can be a good for someone who is planning on growing their savings balance long term. Compare high interest savings accounts to find the right product for you.

Get in touch with us using the form below if you have questions about the savings accounts listed on this page. A member of the finder team will get back to you shortly.

Was this content helpful to you? No  Yes

Related Posts

Savings Account Offers

Important Information*

Ask an Expert

You are about to post a question on

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms of Use, Disclaimer & Privacy Policy and Privacy & Cookies Policy.
Ask a question
Go to site