Some accounts are only open to certain ages. Enter yours to leave out the ones you can't open.
Assumes banks pass the rise on in full to the base rate. Bonus and introductory margins are held steady.
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To earn the rate shown, you'll usually need to meet the account's monthly conditions — like depositing a minimum amount, making no withdrawals, or being within an age range. If you miss a condition in any month, you'll earn the base rate instead, which is often much lower. Check each account's conditions before applying.
| Account | Rate | Interest now | Interest after rise | Difference | Apply |
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These figures are estimates, not quotes. Interest is calculated on the starting balance and monthly contributions you entered, using each account's advertised bonus rate held steady across the period you selected. Actual interest earned will depend on whether you meet the account's monthly conditions, whether any promotional or introductory rate ends, balance caps, and the timing of your deposits. Interest is taxable at your marginal rate.
- Starting balance and monthly contribution: taken from what you entered.
- Rate used for each account: where an account advertises a short-term introductory rate, we apply it for its stated period and the ongoing bonus (or maximum) variable rate for the rest of your term. Introductory rates are never extrapolated beyond the period the provider states.
- Interest calculation: compounded monthly, added to the balance at the end of each month, with the following month's contribution added at the start of that month.
- Rate rise projection: applied as an increase to the base variable rate. Bonus and introductory margins are held steady — we assume banks pass any RBA change through fully to the base rate. Where a bank has publicly announced a change, we show the announcement and its effective date; where the effective date is not confirmed, we say so.
- Bonus rate conditions: we assume the account's monthly conditions are met every month across the period you selected. If a condition is missed in any month, the account earns the base rate for that month, and the projection would overstate real interest.
- Age eligibility: some accounts are only available within specific age brackets (14–35, 18–40, Under 25s). Check the account's eligibility before applying — the projection is shown even if you're outside the bracket, unless you enter your age above.
- Balance caps: many bonus rates apply only up to a maximum balance. Amounts above the cap earn the base rate. Check each account's cap.
- Tax: interest is taxable income at your marginal rate. Figures are before tax.
- Accounts that can't hold your starting balance are left out of the comparison.
I want to dump 100,000 into a bank account and not have to do anything like deposit or withdrawal so pretty much set and it and forget it and let it build as much money as possible without having to do anything. What type of account is this and which bank has the best return for 5 years..and how much money can I expect my account to grow by each year?
Hi Bonnie,
Most high interest savings accounts have at least one condition of making a deposit, or making a deposit of a minimum amount each month, but you can satisfy this condition by setting up a direct debit, so you can ‘set and forget’. For instance, the Suncorp Bank Growth Saver Account pays interest of 5.05% provided you grow your balance by at least $200 per month (and make no withdrawals). You review a number of options that might suit your needs here.
Keep in mind that interest rates will change regularly, especially as the RBA is expected to lower rates over the next 12-18 months – economists predict rates to come down by 1-1.5% in that period. If you wish to lock in a higher rate now for that period, you could look at a long-term term deposit for 5 years. There are no conditions so you can set and forget, although you can’t access this money for any reason during that period (if you do, penalty fees and lost interest will apply).
Hope this helps!
Looking for a high interest savings account.
Hi Adrian,
Thank you for getting in touch with Finder.
You may compare high-interest savings accounts using our comparison table. Once you’ve chosen a provider, you may click the “Go to site” button to be redirected to the bank’s official website to get more details or start your application.
Please make sure though to read the eligibility criteria, features, and details of the account, as well as the relevant PDS/ T&Cs of the account before making a decision and consider whether the product is right for you.
I hope this helps.
Thank you and have a wonderful day!
Cheers,
Jeni
What is my credit score ?
Hi Elizbeth,
Thanks for leaving a question on Finder.
You may refer to our step-by-step guide to getting your free credit score with Finder.
Please send me a message if you need anything else. :)
Cheers,
Joel
My wife invested 0n 08.05.2002 the sum of $A600,000 in a term deposit for 90 days with the
interest of 4.13%.She died shortly after, before the expiry of first maturity period.
The money remained with the Bank until now. What is the value of the investment now?
I need your answer to claim the money from the Australian Bank.
Your answer will be appreciated.
Sever
Hi Sever,
Thank you for your inquiry.
Our company finder.com.au is a financial comparison website and general information service designed to help consumers to make a better decision. Please note we do not represent any company we feature on our pages.
With regards to this matter, it would be nice if you can coordinate this directly with the bank. As they have the specific access to your wife’s account. This way, they can further check the information for you and provide the current status of the account.
I hope this information has helped.
Cheers,
Harold
History of Banks term Deposit Interest Rate since 1992?
Hi JimP,
Thank you for your inquiry.
I’m afraid we don’t have that data as of this time. However, what you can do is compare term deposit accounts and once you’re done comparing, you can then get in touch directly with your chosen bank and ask them directly for a historical interest rates record.
I hope this information has helped.
Cheers,
Harold