The Best High Interest Savings Accounts in Australia Right Now - 2025 Edition
Let’s take a fresh look at the savings accounts actually worth your time and money. Almost exactly one year ago we released our round up of the best savings accounts in Australia, then in classic banking-industry fashion the offers changed almost immediately. A year later the landscape looks very different. Marketing promos have shifted, banks have updated their bonus rules, and the cash rate has moved more than once, which always reshuffles the leaderboard.
So here is your updated guide to the strongest offers right now. We have broken everything into two simple groups: the big standouts, and the accounts that are still good but might require a little more work to unlock that bonus interest
The Big Standouts This Year
Ordered by highest rate first, based on current achievable bonus rates
MOVE Bank Growth Saver, 4.75%
A huge rate with simple but strict conditions.
You must deposit $200 each month, grow your balance, and make no withdrawals.
The max rate applies only to the first $25,000.
Perfect for: short term goals or funds you do not touch.
Rabobank Premium Saver, 4.65%
To earn the bonus rate you must grow your balance by $200 each month.
The max rate applies to balances up to $250,000, with a much lower rate beyond that.
Perfect for: disciplined savers who want a large cap and predictable rules.
Up Bank Saver, 4.60%
Up keeps things simplish
To unlock the bonus you only need to make 5 eligible purchases each month.
There is no deposit requirement and no need to use a specific account.
The full rate applies to the first $250,000 across your Saver accounts. No withdrawals
Perfect for: digital first savers who want strong interest without complicated hoops.
BOQ Smart Saver (36+), 4.60%
Deposit $1,000 into your linked Everyday account and make 5 eligible transactions.
The bonus rate applies up to $250,000.
Perfect for: people over 36 who want a strong rate without switching banks entirely.
Great Southern Bank Home Saver, 4.50%
You must deposit $2,000 each month and settle 5 Visa debit transactions.
The bonus applies up to $100,000.
Perfect for: first home savers building a solid deposit.
Virgin Money Boost Saver, 4.50%
The full rate applies up to $500,000, but withdrawals require 32 days notice.
This is designed to keep your money parked for longer.
Perfect for: long term savings goals you will not access often.
AMP Saver, 4.45%
Grow your balance by $250 each month to unlock the bonus.
The max rate applies up to $500,000.
Perfect for: steady savers who want a generous cap.
Ubank Save Account, 4.35%
Ubank keeps it simple.
The max rate applies up to $1,000,000.
From 1 Oct 2025 onward, you must grow your total Save balance by at least $1 each month, but this is an easy target to hit.
Perfect for: people who want a big cap and a straightforward condition.
Macquarie Savings Account, 4.25%
You must hold a linked Macquarie Transaction Account to receive the max rate.
The full 4.25 percent applies up to $2,000,000, with anything above earning 2 percent.
Perfect for: savers who want a high limit and simple structure.
The Harder Hoop Section
Great rates with bigger monthly admin
The you may need to jump through some hoops section
Great rates, bigger monthly admin
ING Savings Maximiser, 4.75%
To unlock the full 4.75 percent you must:
• Deposit $1,000
• Make 5 cleared card transactions
• Grow your balance
• Keep your balance under $100,000
• Hold a linked Everyday Account
Perfect for: people already in the ING ecosystem who can automate every hoop.
ME Bank HomeMe Save, 4.60%
Deposit $2,000 monthly into SpendMe.
Applies up to $1,000,000.
Australian Unity Freedom Saver, 4.35%
Full rate applies only up to $50,000.
Bank Australia Bonus Saver, 4.25%
Deposit $100 each month and avoid withdrawals.
Bonus applies up to $100,000.
What to Check Before You Choose Your Account
Getting bonus interest only counts if you can actually unlock the bonus each month, so choose an account you can genuinely stick with. If your account has monthly hoops, think about whether you can automate them so you never miss out. If there is a balance cap, check how that affects your real return, especially if you are saving more than the threshold.
Many bonus rates require no withdrawals in a calendar month, so if you know you will be transferring money out often, choose an account that does not penalise you for it. Some banks also require a linked transaction account, which adds a bit of admin, so make sure you factor that in.
The government guarantee covers $250,000 per person per institution, so it is completely fine to spread your savings across more than one bank if you need to. Also look out for notice periods, because they can limit your access to your money when you need it.
And of course, all of this is accurate at the time of writing. Banking products can change quickly, but right now these are the strongest options we are seeing.
***Please remember our blogs aren’t intended as financial advice - they’re intended only as a starting point to give you a little extra info! For more in-depth advice catered to your personal financial position, please see a certified financial advisor.
