Best savings accounts July 2026: top interest rates

Finder's best savings accounts for July 2026

• Best bonus savings account rate: Judo Bank Savings Account
• Best intro rate savings account: Rabobank High Interest Savings Account
• Best no conditions savings account: Macquarie Savings Account
• Best savings account for large balances: Suncorp Bank Growth Saver Account
• Best Big Four bank savings account: Westpac Life (18-40 year olds only)
• Best kids savings account: Great Southern Bank Youth eSaver Account (0-17 year olds only)

Finder Score	Maximum interest rate	Base interest rate	Max rate type & duration	Monthly max rate conditions
Best bonus savings account rate
Finder score 9.5 Excellent Judo Bank Savings Account	Finder score 9.5 Excellent	Maximum Variable Rate p.a. 5.35%	Standard Variable Rate p.a. 0.05%	Intro/Ongoing Ongoing rate (conditions apply)	Balance $1 to $250,000 Deposit $300 each month	Go to siteView details Compare product selection Compare	loading	Why we like it This account offers one of the highest ongoing bonus variable rates in the market, with very simple conditions to meet to get it. All you need to do is deposit $300 per month to earn the ongoing bonus rate. There is no requirement to grow your balance over the month and you can still make withdrawals when you need to. The ongoing bonus rate is also available on large balance sizes up to $250,000. Pros & cons Cons No linked bank account
Best intro rate savings account
Finder score 9 Excellent Rabobank High Interest Savings Account	Finder score 9 Excellent	Maximum Variable Rate p.a. 5.90%	Standard Variable Rate p.a. 4.00%	Intro/Ongoing 4 month intro rate	Balance $0 to $250,000 No deposit or withdrawal conditions New accounts only	Go to siteView details Compare product selection Compare	loading	Why we like it This account has a really strong welcome bonus rate of 5.9% p.a. for the first 4 months (for new customers), which is among the highest in market right now. Plus, there are no monthly deposit conditions to meet or withdrawal restrictions, and there's no requirement to grow your balance each month. Pros & cons Pros Higher rate for first 4 months to new customers No account keeping fees No minimum balance requirements Cons Interest rate drops to 4% p.a. after introductory period Online and phone banking only
Best no conditions savings account
Finder score 9.7 Excellent Macquarie Savings Account Finder AwardMost Loved	Finder score 9.7 Excellent	Maximum Variable Rate p.a. 5.35%	Standard Variable Rate p.a. 5.00%	Intro/Ongoing 4 month intro rate	Welcome rate applies to balances up to $250,000 Ongoing rate applies to balances up to $2 million New accounts only	Go to siteView details Compare product selection Compare	loading	Why we like it This account won best no conditions savings account in the 2026 Finder Awards. You'll get 5.35% for the first 4 month on balances up to $250,000, and then 5% p.a. ongoing after the intro period ends with no conditions to meet. This is a really great rate considering the average rate for a savings account with no conditions to meet is less than 2.30% p.a. Unlike most savings accounts, you don't have to deposit a set amount each month, you don't have to grow your balance or make a set number of purchases and you aren't restricted from making withdrawals at all. Plus, you'll earn the ongoing interest rate on balances up to $2 million, which is much higher than many competing accounts. Pros & cons Pros No conditions to meet to earn interest High welcome variable rate Earn interest on large balances up to $2 million No account-keeping or transaction fees Cons Requires a Macquarie Transaction Account Ongoing rate is a bit lower than others in the market
Best savings account for large balances
Finder score 8.5 Great Suncorp Bank Growth Saver Account	Finder score 8.5 Great	Maximum Variable Rate p.a. 5.10%	Standard Variable Rate p.a. 0.10%	Intro/Ongoing Ongoing rate (conditions apply)	Grow balance by $200 each month (excl. interest) Only 1 withdrawal No balance limit on earning interest	View details Compare product selection Compare	loading	Why we like it You can earn a solid ongoing rate on your entire balance - there is no balance limit for earning the bonus interest. This makes the account ideal if you've got a large amount of cash. To earn the bonus rate you need to grow your balance by $200 each month (excl. interest), which is lower than many other accounts, and make no more than 1 withdrawal per month. Pros & cons Cons Standard interest rate of just 0.1% if account conditions are not met
Best Big Four bank savings account
Finder score 8.9 Great Westpac Life (18-40 year olds only)	Finder score 8.9 Great	Maximum Variable Rate p.a. 5.75%	Standard Variable Rate p.a. 0.10%	Intro/Ongoing Ongoing rate (conditions apply)	Make a deposit Grow your balance 20 debit card purchases Balances up to $150,000	Go to siteView details Compare product selection Compare	loading	Why we like it This account's Finder Score is higher than any other savings account offered by one of the Big Four banks. It's also a higher score than 95% of savings accounts in our database. If you’re between 18-34, you can earn an ongoing bonus rate each month you grow your balance and make 20+ eligible debit card purchases. This means you can make withdrawals throughout the month, just as long as your balance finishes higher at the end of the month than it was at the start. The bonus rate is available on balances up to $30,000. While this is lower than other accounts, the age range of 18-34 means it's tailored to customers starting out on their savings journey. Pros & cons Pros High maximum bonus rate Cons Top bonus rate only available on balances under $150,000. Must make 20 transactions per month to earn top bonus rate.
Best kids savings account
Finder score 9.6 Excellent Great Southern Bank Youth eSaver Account (0-17 year olds only)	Finder score 9.6 Excellent	Maximum Variable Rate p.a. 5.50%	Standard Variable Rate p.a. 5.50%	Intro/Ongoing Ongoing rate (conditions apply)	Balance up to $5,000 Aged up to 17	View details Compare product selection Compare	loading	Why we like it This high-scoring account has a consistently high ongoing variable rate. There are no conditions to meet to earn the full interest rate, making it ideal for young savers. Pros & cons Pros Access to funds without losing interest, encouraging saving while offering flexibility. Cons One account per eligible child, limiting flexibility for those with multiple savings goals. Children under 10 cannot transact on the account without a parent or guardian as a signatory.

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How we choose our top savings account picks

Each month we assess 150+ savings accounts in our databse and assign each a Finder Score out of 10. Our data-driven Finder Score ranks savings accounts based on rates, fees, account conditions and restrictions. Put simply, the savings accounts with the highest Finder Scores allow you to earn the most amount of interest on your money, for the least amount of effort.

Once we get the accounts with the highest scores (8+), we then look at these to select the account that we feel best suits each of the different savings account categories featured above.

In sereral categories the account was chosen as it was a winner in the latest Finder Awards.

How to pick the best savings account

These are the 4 main things to look for when you're choosing a savings account:

1. A high interest rate

The higher the rate, the more interest you can earn. The best savings rates at the moment all start with a 5.

Check if the high interest rate on offer is an ongoing rate available each month, or if it's an intro rate only on offer for a few months. If it's the latter, set yourself a reminder to consider switching accounts after the intro period is over when the rate drops down to the lower, standard rate.

2. Conditions you can easily meet

Most of the best savings rates will require you to deposit a set amount each month (anywhere from $20-$2000) and perhaps also limit withdrawals or make a number of purchases.

Make sure you can comfortably meet the monthly conditions before opening the account. If you can't, you'll only earn the variable base rate which is often very low.

3. Balance limits that suit your savings

Some savings accounts only offer the maximum interest rate on smaller balances up to $10,000, while others are up to $5 million. Depending on the size of your savings balance, make sure that the account you choose pays interest on your entire balance (or at least most of it).

4. A low-fee, linked transaction account

If you're planning to open a transaction account along with your savings account with the same bank (a lot of these are opened as a pair automatically), don't forget to check out the fees and charges for that account too. Because savings accounts don't charge fees, but some transaction accounts do.

Our expert says: The highest savings rate isn't always best

"Of course the interest rate is important when choosing a savings account, but I always tell people that the account conditions are just as - if not more - important. There's no point choosing the account with the highest rate if you're going to be pushed to your limit meeting the deposit conditions each month.

Savings account rates change quite frequently - what's best one month might not be best the next. So you're better off choosing a good account with conditions you can easily meet and other features that suit you. Because if you opt for the account with the highest rate but then you can't meet the conditions, you'll likely earn no interest at all.

You still want to make sure you have an account with one of the best rates in the market as this will make a huge difference to the amount of interest you can earn - it just doesn't have the be the absolute highest rate available."

Alison Banney

Editorial Manager, Money

The best savings rate vs an average savings rate

How much difference does the interest rate on your savings account make, really? It's actually more than you might think!

Let's assume you have a savings balance of $40,000 and you're able to deposit $1,000 per month. Here's how much interest you'll earn over 1, 3 and 5 years if your savings account has a below-average rate (2.00% p.a.), an above-average rate (3.50% p.a.) or a market-leading rate (5.50% p.a.).

As you can see, you could earn quite a lot more money by simply switching to one of the best savings account rates in the market.

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FAQs on best savings accounts

• Will saving rates go up in 2026?

  We have already seen savings rates go up so far this year. The RBA raised the cash rate in February and again in March, which caused savings rates to also go up.

• Are introductory rates worth it?

  Introductory savings rates can be a great way to earn a higher return in the short term, but remember, they're not permanent. If you're only planning on saving for a few months or don't mind switching accounts later, they can be a solid option. Otherwise, you'll likely be better off choosing an account with a strong, ongoing bonus rate instead.

• Is ING Savings Maximiser the best savings account?

  ING's savings account is popular, and became even more so after Scott Pape recommended it in his book The Barefoot Investor. ING's savings rate has been one of the best in market since 2016. However, ING's account does come with several conditions to earn that rate. You need to despoit $1000 per month, grow your balance and also make 5+ transactions during the month, which some people may find too difficult.

• Which bank is offering 7% p.a. interest on savings?

  No Australian banks offer 7% p.a. interest on savings account, currently the best rates are around 5.50% p.a. If there is a product offering 7% p.a., it is likely to be in investment product not a savings account.

• What is a good interest rate for a savings account?

  Currently, any savings rates above 4.50% p.a. are quite good. The highest rates are around 5.50% p.a., and the average rate is closer to 3% p.a. But remember, a good savings rate is one that you can easily earn by meeting the account conditions. There's no point opting for the highest rate in the market if you can't meet the account conditions.

To make sure you get accurate and helpful information, this guide has been edited by Richard Whitten and reviewed by Serina Bird, a member of Finder's Editorial Review Board.

Written by

Alison Banney

Editorial Manager, Money

Alison is an editor at Finder and a personal finance journalist with over 10 years of experience, having contributed to major financial institutions and publications such as Westpac, Money Magazine, and Yahoo Finance. She is frequently quoted in media outlets like SmartCompany and SBS, offering expert insights on superannuation and money management. Alison holds a Bachelor of Communications in Public Relations and Journalism from the University of Newcastle, and has earned three ASIC RG146 certifications in superannuation, securities and managed investments and general financial advice, ensuring her expertise is fully aligned with ASIC standards. See full bio

Alison's expertise

Alison has written 665 Finder guides across topics including:

• Superannuation
• Savings accounts, bank accounts and term deposits
• Budgeting and money-saving hacks
• Managing the cost of living