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SMSFs and SMSF savings accounts can be subject to certain superannuation restrictions. These accounts, however, are unlikely to function any differently from a regular savings account. Some savings accounts are marketed specifically at first home buyers who are looking to save for a house deposit. The interest rate you’re offered when opening a high interest savings account may change over time. Compare a wider range of savings accounts by using Canstar’s savings account comparison tables, also available on the Canstar App.
Outside of promotional interest rates, which only last for a set period of time, some financial institutions may also offer conditional bonus rates. At the time of writing, the highest interest rate listed on Canstar’s database for a high interest savings account is 5.65%. There are genuinely high-quality online pokies for real money with great rtp, fast and responsive bitcoin casino australia support, and a quick, hassle-free verification process.
It’s important for savers to keep an eye on the latest rates to ensure they’re getting the most out of their savings accounts. With rates up to 5.65%, we round up the best high interest savings accounts on our database. A high interest savings account, as the name suggests, comes with a high interest rate, which means you can potentially earn more money through interest payments on your savings. In Australia, financial institutions such as banks, credit unions and other deposit-taking institutions (DPIs) generally offer a transaction or savings account, or a combination of the two.

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- Based on bonus savings accounts on Canstar’s database, with rates based on a deposit of $10,000.
- Based on savings accounts on Canstar’s database, with rates based on a deposit of $10,000.
- You deserve better, safer and fairer products and services.We’re the people working to make that happen.
- We’re here to make banking simpler and easier with our popular products, special offers and helpful calculators.
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To find out how to do this, see financial hardship. If this happens, you can ask your lender or provider for a ‘financial hardship arrangement’. The ‘band’ your credit score sits in (for example, low, fair, good, very good, excellent). A lower score will affect your ability to get a loan or credit. This could mean getting a better deal and saving money.
The top 6 selected and table sorted in descending order by total rate, followed by base rate. This is for Rabobank Australia’s High Interest Savings Account with the rate offered being only for an introductory period of four months before reverting to 3.95%. Sign up to get the latest on your favourite topics from the ABC We acknowledge Aboriginal and Torres Strait Islander peoples as the First Australians and Traditional Custodians of the lands where we live, learn, and work. MyGov Tax Return and Etax Etax makes tax returns easy.