Here is our quick look glance at current savings accounts in Australia, sorted by rate and features.
Whether you are saving for a “big ticket” purchase, a house deposit, or simply a rainy day, then a savings account is exactly what you need.
These accounts all offer excellent interest rates as well as instant access to your money, so that you can save safe in the knowledge that you won’t be caught short in an emergency. As you can see, many of the headline rates come with stipulations and many of these rates are only guaranteed for a relatively short period. For real peace of mind, it is a good idea to look at the base rate as well as the maximum rate, particularly if you are looking to keep your money with the bank in the medium to long term. Other factors to consider would include whether or not you are able to bank online and whether you already have or would need to open an additional account to withdraw your cash.
Whatever your circumstances and however much you are saving, it is highly recommended that you read the small print and know exactly what you are signing up to. If you are looking to put your money away for a longer period and do not need instant access, why not have a look at our term deposit accounts for even better rates!
| Institution | Product Name | Linked Account Required? | Max Interest Rate | Visit Provider's Website |
|---|---|---|---|---|
 | Reward Saver | No | Up to 6.2% p.a. subject to terms and conditions | Click here |
 | Direct Saver (1.55% bonus for 4 months on new account | Any Institution | 6.15% p.a. | Click Here |
 | USaver (Base rate 5.85% p.a., bonus 0.2% p.a.with savings plan) | No | 6.21% p.a. (Standard Variable Rate) | Click Here |
 | Citibank Online Saver (Variable introductory rate for 6 months on balances up to $2m) | Any Institution | 6.15% p.a. | Click Here |
 | Award Saver Account (Bonus rate paid until 30 June 2011) | No | 6.01% p.a. | Click Here |
 | Premium Online Investor Account | Any Institution | 6.01% p.a. | Click Here |
 | eASYSaver Account (Bonus rate on new accounts opened from 01/03/10 to 30/06/10) | Any Institution | 6.00% p.a. | Click Here |
 | TeleNet Saver (Special introductory interest rate for 12 months - variable | Any Institution | 6.00% p.a. | Click Here |
| NetBank Saver (For new NetBank saver accounts opened until 21/07/10) | Same Institution | 6.00% p.a. | Click Here |
 | Savings Maximiser (Variable welcome rate of 6.00% p.a. for 4 months from account opening on balances up to $1m) | Any Institution | 6.00% p.a. | Click Here |
