Compare High Interest Savings Accounts
Getting the right high interest savings account can make a big difference to your savings account balance which can be very important if you have a savings goal or rely on high interest for income. There are many banks and credit unions who provide competitive savings accounts which offer high rates of interest. These offerings are mostly online only bank accounts and often require linking to a transactional account. In recent years these accounts have often offered interest rates higher than term deposits but have the flexibility to access your money at any time.
Switching bank accounts
Found a good high interest savings account and want to switch? There may be a few forms to fill out and you'll usually be required to have your identity verified (unless you already have an account with them) but it is normally a fairly simple process.
| Bank | Product | Promo Rate | Std Rate | Promo Conditions | Calculated | Paid |
|---|---|---|---|---|---|---|
| ANZ | Online Saver | 6.0% | 4.25% | Earn Promo rate until 30th April 2012. | Daily | Monthly |
| ANZ | SmartyPig | 5.25% | Minimum monthy deposit $10. Maximum monthly deposit $10000 | Daily | Quarterly | |
| Bankwest | TeleNet Saver | 5.8% |
4.75% |
12 month Promo Rate. | Daily | Monthly |
| Bankwest | Smart eSaver | 5.5% |
4.0% |
Receive the Promo Rate when you make no withdrawals in a month. | Daily | Monthly |
| Citibank | Online Saver | 5.8% |
4.75% |
Receive Promo Rate for 6 months. | Daily | Monthly |
| Citibank | Ultimate Saver | 4.5% |
0.1% |
Earn Promo Rate on proportion of your savings between $10,000 and $1 million. | Daily | Monthly |
| Commonwealth | NetBank Saver | 5.25% |
4.25% |
Earn Promo Rate for 3 months. | Daily | Monthly |
| HSBC | Serious Saver | 5.8% |
4.75% |
Earn Promo Rate for 4 months. | Daily | Monthly |
| ING Direct | Savings Maximiser | 6.1% |
4.75% |
Earn Promo Rate for 4 months. | Daily | Monthly |
| ING Direct | Savings Accelerator | 5.25% | 4.5% | Earn Promo Rate if account balance over $50,000. | Daily | Monthly |
| NAB | iSaver | 5.5% |
4.15% |
Earn Promo Rate for 4 months. | Daily | Monthly |
| St George | Direct Saver | 5.75% |
4.25% |
Earn Promo Rate for 4 months. | Daily | Monthly |
| Suncorp | eOptions | 5.8% |
4.5% | Earn Promo Rate for 5 months when locked in flexiRate. | Daily | Monthly |
| Virgin Money | Virgin Saver | 5.85% | 4.65% | Earn Promo Rate for 4 Months. | Daily | Monthly |
| Westpac | eSaver | 5.5% | 4.25% | Earn Promo Rate for 4 Months. |
Daily | Monthly |