Compare best interest rates for savings accounts

Instant access cash savings accounts are often hard to compare with all the introductory offers, standard variable rates and when these rates expire, I’ve tried to make finding the best interest rates for savings accounts as simple as possible. Hopefully the comparison table below will make it easier to get a better idea for the best saving rates for 2015.

When thinking about cash savings and trying to get a high interest account you should also think if a regular saver accounts might help you as they sometimes have a higher interest rate if you can stick to all their terms. The regular savings accounts are now compared here: highest interest rates for regular savings.

The chart below hopes to help make it as clear and simple as possible about the highest interest rates for instant access savings accounts in Australia. To use: hover over the part of the menu that you want information about, click on it and it should sort high interest savings account from top to bottom – best to worst rates, if you get a 0, low rate or 0/n/a then click again to reorganise the list.

Updated 25th of June 2015:
Sadly my Generalised Dystonia has gotten a lot worse and to manually check each of the banks & building societies has gotten too hard, I’ve since found a great site, Canstar Cannex Savings Account finder, that has even more savings accounts than I ever listed; such as just checking the Bonus Savings Accounts, Online only savings accounts, Junior Savings accounts and the very helpful SMSF (Self Managed Super Funds) or even a Cash Management Account for trading. Canstar Cnnex also offers the best interest rates for different savings amounts which you can enter to get the most helpful info the site also lists state specific accounts too!

Canstar Compare Savings Accounts: here

Unlike the term deposits there’s no direct link to each category you have to input the details for the type of saving you want.

Find the Best interest rates for instant access savings accounts:

To help you get the best rates, here’s links to the instant access savings accounts that are listed above:

  1. AMP – Savings Accounts | Compare Savings Accounts | AMP Australia. – Find out about AMP eASYSaver, a low fee, high interest savings account, savings account, compare savings account.
  2. ANZ – ANZ Online Saver – High interest online savings account | ANZ. – ANZ Online Saver - High interest online savings account | ANZ - You'll have easy access to your savings, with no minimum balance and no monthly account service fee on an ANZ Online Saver linked to your ANZ everyday account.
  3. Arab Bank Australia – Deposit Rates: Personal Online Savings Account – Arab Bank Australia. – Arab Bank Australia - winner of the Personal Investor Magazine Excellence in Financial Services Awards for Australia's Best Term Deposit, 7 years running.
  4. Bank of Melbourne – Maxi Saver Account | Online Savings Account | Bank of Melbourne. – A high interest rate savings account with branch access. Unlimited fee-free internet & phone banking 24/7. Apply online now.
  5. Bank of Queensland – BOQ Internet Banking with Web Savings Combines Smart and Easy Banking. – Maximise the return on your savings with BOQ internet banking. Contact us today to find out how you can set up your own Web Savings account!
  6. Bankwest – Smart eSaver | High Interest Online Savings Account – Bankwest. – compare savings accounts & term deposits – Bankwest. – The Smart eSaver is Bankwest's high interest online savings account that rewards you for not making withdrawals. Apply online!
  7. Bankwest – TeleNet Saver | High Variable Rate Online Savings Account .- Bankwest. – The TeleNet Saver online savings account offers a high variable interest rate with no minimum deposit. Apply online!
  8. Citibank – Citibank Online Saver – Citibank Australia. – Simply link your Citibank Online Saver to any other Australian bank account and transfer money in and out as you need. Tick off your wish list sooner by earning interest on every dollar you save.
  9. Citibank – Citibank Ultimate Saver – Citibank Australia. – Finally, a bank account that's worth moving for. Citibank Ultimate Saver offers you the benefits of an everyday transaction account that can also pay you high interest.
  10. Commonwealth Bank – NetBank Saver – Commonwealth Bank. – A high-interest savings account that links to your CommBank transaction account. Apply online or in NetBank.
  11. HSBC – Savings Account Great Interest Rates | HSBC Australia. – Good interest rates, no monthly account fees and easy to connect to your day to day account. That's HSBC Serious Saver.
  12. ING DIRECT – Savings Accelerator – ING DIRECT. – Savings Accelerator is a great way to accelerate your savings. With balances of $50,000 and over, your whole balance earns a very rewarding rate. Apply today!
  13. ING DIRECT – High Interest Savings Account – Savings Maximiser – ING DIRECT. – ING DIRECT Savings Maximiser offers a high variable welcome rate and no fees or hidden catches. Find out more and apply online today!
  14. Macquarie Bank – Macquarie Cash XL. – Macquarie Cash XL - Australia's leading cash manager with the features you need and service you can rely on to manage and monitor your clients' cash flow and cash investments.
  15. Me Bank – Online Savings Account.
  16. NAB – NAB iSaver – high interest account online savings – NAB.
  17. RaboDirect – High Interest Savings Account – up to 4.76% interest | HISA | RaboDirect.
  18. Rural Bank – Rural Bank ONE – Personal Savings Account – apply now.
  19. St.George – Maxi Saver Account | Savings Account – St.George Bank.
  20. Suncorp – Everyday Options Account | Suncorp Bank.
  21. Virgin – Virgin Saver – Online Savings | Virgin Money.
  22. Westpac – High Interest Savings Account – eSaver – Compare Savings Accounts | Westpac.

Compare the best interest rates for savings accounts.

I’ve tried to compare all the top accounts in Australia for instant access savings accounts, many which are online offers only; If I’ve made any mistakes, or you’ve found better interest rates that aren’t listed please do let everyone know, feel free to either message me through the forum or add a post to the Savings Forum.

Further reading about savings accounts, interest and banking in Australia to help you with your cash savings:

Investments Paying Interest – – Money Smart by ASIC.
Banking in Australia – Wikipedia – Banking in Australia.
Savings Accounts – Wikipedia

About the best interest rates for savings accounts:

This page is only about looking at the best interest rates, and is purely about the interest the banks and building societies offer, it does not look at the quality of service that each of these financial institutions offers, I sadly don’t have enough money to try them all!

* – I added a star next to the Virgin Saver, although it should be next to everything as the $250,000 is the amount guaranteed under the Australian Government Guarantee – find out more about the Australian Government Guarantee here: Australian Government Guarantee Scheme: Questions & Answers about the Guarantee of Deposits.

Although we try our best at to find the top interest rates for savings accounts, we may miss some, if we have please feel free to let us know! Or if you have a review on services or want to share anything about these banks and building societies please feel free to add it in the savings forums. There’s nothing better than a bit more research to make sure you get the best interest rate for your savings.

If I’ve made a mistake or you know of a better deal please head to the savings forum and let us all know.