Compare bank accounts from the Big Four banks and more

Compare bank accounts from some of Australia's biggest banks.

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NAB Classic Banking

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Monthly Fee
  • No minimum deposits
  • Not ATM fees
  • Apple Pay & Google Pay
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Westpac, NAB, Commonwealth Bank and ANZ are called the Big Four, because they're the biggest banks in Australia. The Big Four each offer a range of bank accounts, but they're not your only choice. All Australian banks are regulated in exactly the same way and are just as safe as the Big Four.

The table below allows you to compare bank accounts, savings accounts and term deposit rates from the Big Four as well as accounts from other major banks in Australia like HSBC, UBank, ME, ING, Citi and CUA.

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Bank account offer
NAB Classic Banking
Promoted
$0
monthly fee
$0
ATM withdrawal fee
  • Google Pay
  • Apple Pay
  • Samsung Pay
  • Fitbit Pay
  • Garmin Pay
  • Monthly fees: $0

NAB Classic Banking

Enjoy convenient, unlimited access to your money. $0 monthly account fee. Temporarily block your card at the touch of a button if you lose it.
Enjoy convenient, unlimited access to your money. $0 monthly account fee. Temporarily block your card at the touch of a button if you lose it.

See how bank accounts from the Big Four compare with other leading banks in Australia

Data indicated here is updated regularly
$
Name Product Card access ATM Withdrawal Fee Fee Free Deposit p.m. Monthly Account Fee
NAB Classic Banking
Visa
$0
$0
Enjoy convenient, unlimited access to your money.
$0 monthly account fee.

Tap and pay with your NAB Visa Debit card or your phone using Apple Pay, Google Pay, Samsung Pay or NAB Pay for Android. Temporarily block your card at the touch of a button if you lose it.
Commonwealth Bank Smart Access
Mastercard
$0
$2,000
Get unlimited CBA electronic transactions using internet banking, phone banking, ATM and EFTPOS.
Westpac Choice
Mastercard
$0
$2,000
$5 waivable monthly account fee.
Monthly account fee waived if you deposit at least $2,000 a month, are under 21 or if you meet other eligibility criteria. Access more than 50,000 ATMs globally for free via the Global ATM Alliance.
ANZ Access Advantage
Visa
$0
$2,000
Pay with Apple Pay, Google Pay & Samsung Pay.
$5 waivable monthly account fee.
Monthly account fee waived if you deposit at least $2,000 a month, are under 25 or if you meet other eligibility criteria.
HSBC Everyday Global Account
Visa
$0
$0
Special offer: $100 cash bonus for new HSBC customers.
Earn 2% cashback on tap and pay purchases (T&C's apply).
Enjoy no minimum ongoing balance or transaction requirements and the flexibility to hold up to 10 currencies. Apple Pay and Google Pay available.

Suncorp Everyday Options Account
Visa
$0
$0
Link up to 9 interest-earning sub accounts.
$0 monthly account keeping fees.
Earn interest on your linked sub accounts to help you save for individual goals, with no account fees to pay. Make contactless payments using Google Pay and Apple Pay.
MyState Bank Glide Account
Visa
$0
$0
Simplify your everyday banking with these sleek digital features.
$0 monthly account fee.
Choose the way you pay with access to Google, Samsung and Apple Pay plus Fitbit Pay and Garmin Pay. Send and receive money in less than 60 seconds with PayID.
Citi Global Currency Account
Mastercard
$0
$0
Earn up to 0.75% p.a. interest on your AUD balance.
$0 monthly account fee.
Enjoy one linked debit card to hold up to 10 currencies and receive foreign currencies for free.
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Data indicated here is updated regularly
$
$
months
Name Product Maximum Variable Rate p.a. Standard Variable Rate p.a. Bonus Interest p.a. Fees Interest Earned
Westpac Life (18-29 year olds only)
3%
0.2%
2.8%
$0
If you’re between 18-29, you can earn a 3% p.a. variable rate each month you grow your balance (excl. interest) and make 5+ settled debit card purchases from your linked Westpac Choice account, up to a balance of $30,000.
Westpac Life (18-29 year olds only)
0.55%
0.2%
0.35%
$0
If you’re between 18-29, you can earn a 0.55% p.a. variable rate each month you grow your balance (excl. interest) and make 5+ settled debit card purchases from your linked Westpac Choice account, up to a balance of $30,000.
Westpac Life
0.4%
0.2%
0.2%
$0
Ongoing, variable 0.4% p.a. each month you deposit money, and make sure your balance is higher at the end of the month than it was at the beginning. No monthly account-keeping fee.
Commonwealth Bank NetBank Saver
0.55%
0.05%
0.5%
$0
Introductory rate of 0.55% p.a. for 5 months, reverting to a rate of 0.05% p.a. Available on balances up to $5,000,000.
Commonwealth Bank NetBank Saver
0.05%
0.05%
0%
$0
Introductory rate of 0.05% p.a. for 5 months, reverting to a rate of 0.05% p.a. Available on balances up to $5,000,000.
ANZ Progress Saver
0.5%
0.01%
0.49%
$0
Ongoing, variable 0.5% p.a. when you deposit $10+ each month and make no withdrawals. Available on the entire balance.
NAB iSaver
0.6%
0.05%
0.55%
$0
Introductory rate of 0.6% p.a. for 4 months, reverting to a rate of 0.05% p.a. Available on balances up to $20,000,000.
Citibank Online Saver
1.1%
0.35%
0.75%
$0
Introductory rate of 1.1% p.a. for 4 months, reverting to a rate of 0.35% p.a. Available on balances Up to $500,000.
HSBC Flexi Saver Account
0.85%
0.05%
0.8%
$0
Ongoing, variable 0.85% p.a. when you grow your balance by $300+ per month. Earn bonus interest even if you make withdrawals during the month. Available on balances up to $5,000,000.
HSBC Flexi Saver Account
0%
0%
$0
Ongoing, variable 0% p.a. when you grow your balance by $300+ per month. Earn bonus interest even if you make withdrawals during the month. Available on balances up to $5,000,000,000.
MyState Bank Bonus Saver Account
1.2%
0.1%
1.1%
$0
Ongoing, variable 1.2% p.a. when you deposit at least $20 into the account each month and make 5 or more Visa Debit card transactions from a linked MyState transaction account. Bonus interest available on balances up to $250,000.
Citibank Online Saver
0.35%
0.35%
0%
$0
Introductory rate of 0.35% p.a. for months, reverting to a rate of 0.35% p.a. Available on balances Up to $500,000.
HSBC Serious Saver
0.9%
0.05%
0.85%
$0
Receive a maximum variable rate of 0.9% p.a. for 4 months, reverting to an ongoing rate of 0.05% p.a. for each month you don't make any withdrawals from the account. Available on balances below $1,000,000.
HSBC Serious Saver
0%
0%
$0
Receive a maximum variable rate of 0% p.a. for months, reverting to an ongoing rate of 0% p.a. for each month you don't make any withdrawals from the account. Available on balances below $1,000,000.
Bankwest Hero Saver
0.8%
0.01%
0.79%
$0
Ongoing, variable 0.8% p.a. rate when you deposit at least $200 each month and make no withdrawals. Available on balances up to $250,000.
Bankwest Hero Saver
0.01%
0.01%
0%
$0
Ongoing, variable 0.01% p.a. rate when you deposit at least $0 each month and make no withdrawals. Available on balances up to $250,000.
HSBC Serious Saver
0.45%
0.05%
0.4%
$0
Receive a maximum variable rate of 0.45% p.a. for months, reverting to an ongoing rate of 0.05% p.a. for each month you don't make any withdrawals from the account. Available on balances below $1,000,000.
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Data indicated here is updated regularly
Name Product 3 Mths p.a. 4 Mths p.a. 5 Mths p.a. 6 Mths p.a. 7 Mths p.a. 12 Mths p.a. 24 Mths p.a.
Commonwealth Bank Term Deposit
0.10%
0.10%
0.10%
0.20%
0.20%
0.45%
0.35%
Choose between a range of term lengths from just one month to five years, and receive a fixed interest rate on your funds.
Invest from $5000 to $1,999,999.
Westpac Term Deposit
0.20%
0.20%
0.25%
0.25%
0.35%
0.35%
0.35%
Enjoy flexible repayment and reinvestment options at the end of the term with no setup or service fee.
ANZ Term Deposit
0.15%
0.15%
0.15%
0.15%
0.15%
0.20%
0.30%
Pay no account-keeping or application fees.
Invest your funds for up to 5 years and receive a competitive rate of interest.
NAB Term Deposit
0.20%
0.20%
0.20%
0.30%
0.30%
0.40%
0.40%
Invest your money in a NAB Term Deposit and earn a fixed interest rate for the life of the term, with no setup or account fees.
This term deposit is for personal customers with deposits from $5,000.
Judo Bank Term Deposit
0.81%
0.82%
0.89%
1.30%
Earn a 0.10% p.a. loyalty bonus when you roll over your term.
The Judo Bank Term Deposit term lengths range from three months to five years. Minimum opening deposit is $1,000. No account-keeping or set-up fees to pay.
AMP Term Deposit $5000+
0.40%
0.40%
0.40%
0.50%
0.50%
0.55%
0.40%
Lock your money with AMP Bank Term Deposit Account and enjoy a great competitive rate with no fees.
Citibank Term Deposit $10,000
0.60%
0.60%
0.60%
Suited to customers with deposits between $10,000 and $249,999.
This term deposit is for new Citibank customers only
AMP Term Deposit $25,000+
0.60%
0.60%
0.60%
0.70%
0.70%
0.75%
0.60%
Lock your money with AMP Bank Term Deposit Account and enjoy a great competitive rate with no fees.
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What are the Big Four banks in Australia?

In Australia, ANZ, Westpac, CommBank and NAB are known as The Big Four banks. These four banks hold the largest majority of loans in Australia and many consumers choose to do some or all of their banking with one of them. The Big Four offer a wide range of deposit products including transaction accounts, savings accounts and term deposits and together offer the largest ATM network in Australia. CommBank is the largest bank, and Westpac is the oldest.

The Big Four's market share

Commonwealth Bank currently has the largest market share out of The Big Four while NAB currently has the smallest market share. Since The Big Four hold such a large market share, borrowers tend to think it's safer to apply for a loan with one of them, or to deposit their savings with one of these banks. Even if you feel more comfortable with keeping your savings with one of The Big Four, keep in mind that most banks in Australia are covered by the Government Guarantee, insuring your savings up to $250,000 per person, per institution should there be a financial crisis.

BankMarket capitalisation*
Commonwealth Bank of Australia (CBA)$149.11 billion
Westpac Banking Corporation.$90.65 billion
Australia and New Zealand Banking Group (ANZ)$72.68 billion
National Australia Bank (NAB)$75.8 billion

*As of January 2020. Source: ASX200 List

How do the big 4 differ from one another?

Here's some points of difference among the Big Four that may help you decide which is right for you.

  • CommBank. Largest ATM network in Australia and the largest bank in terms of market capitalisation, and most downloaded mobile banking app.
  • NAB. Has the only bank account (out of The Big Four) that doesn't charge monthly account keeping fees. (Correct as of January 2020).
  • Westpac. Has the largest overseas ATM network, allowing you to access more than 50,000 global ATMs fee-free through the Global ATM Alliance.
  • ANZ. First Big Four bank to offer Apple Pay

Availability of customer service

Big Four BankPhoneLive Chat
CommBankAvailable 24/7Yes
NABMon-Fri 8am - 7pm (AEST/AEDT)Sat-Sun 9am - 6pm (AEST/AEDT)Yes
Westpac8am - 8pm, 7 days a week from anywhere in AustraliaYes
ANZ7am - 10pm your local time in AustraliaYes

Comparing The Big Four

Choosing the right bank for you depends on your personal financial needs. The Big Four banks all offer a similar range of products and services but there are differences. To find the bank that suits your needs, consider the accounts and services you wish to use, for example, a high interest savings account and a low-fee everyday transaction account, and then compare what each bank has to offer.

What are the features I should look for when comparing savings accounts from The Big Four?

When you are looking at savings accounts offered by The Big Four, make sure you take the following features into account:

Competitive interest rate

Interest rates will help determine how quickly your savings can grow. Look at the base variable rate of the account to determine which ones have the best value. With The Big Four, each one offers a savings account that pays bonus interest for meeting specific terms. Check this rate as well, and add it to the base to see how much interest you will really be earning.

Bank Account Savings account variable interest rate Account conditions
Westpac eSaver Maximum variable rate of 0.55%First 5 months only, then reverting to 0.05% p.a.
ANZ Online SaverMaximum variable rate of 0.45%First 3 months only, then reverting to 0.05%
NAB Reward Saver Maximum variable interest rate of 0.55%Must make no withdrawals and at least one deposit a month.
CommBank NetBank Saver Maximum variable interest rate of 0.55% p.a.First 5 months only, reverting to 0.05%

Bonus rate conditions (if they are any)

The terms for earning the bonus rate should play a big role in the account you choose because if you don't meet them, you will only earn the base rate for that month. For example, with Westpac, you need to make at least a $50 deposit and have no withdrawals to get the bonus rate, while CommBank requires that you grow your savings by at least $200 but allow one withdrawal. Since the base rates are typically very low, you will want to ensure that you are able to meet these terms before investing your savings.

24/7 online banking

The Big Four banks all have Internet and mobile access, so it comes down to who offers the simplest online or mobile banking experience. CommBank's NetBank has arguably been voted the best. Look into the apps as well to ensure that they are compatible with your mobile device if you like banking on the go.

What are the benefits of banking with The Big Four?

  • More access to your money. By choosing one of The Big Four, you will have easy access to your savings through their large number of branches, ATM networks and online banking. Our research shows that The Big Four currently hold the biggest ATM networks in Australia.
  • 24/7 customer service. Depending on The Big Four bank you choose, you're likely to have access to customer service 24/7 if you have a financial emergency.
  • Easily link your Big Four bank account. If your everyday account is already with one of The Big Four, you'll find it easy to link to other savings accounts (assuming you can link to any Australian financial institution).

What are the risks of banking with one of The Big Four?

  • Choosing a brand. The Big Four are all well-known brands in Australia, but you should still look at other banks when making your comparisons. This helps to ensure that your savings are working as hard as possible towards your financial future.
  • You are probably receiving lower interest rates. The Big Four have a reputation for having the lowest interest rates in the market for their savings accounts. You can compare some of the best high interest savings accounts here.
  • Competitiveness. Due to their popularity, The Big Four banks are not always as competitive with their rates as smaller banks.

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