Bankwest

As of early September 2026, competitive high-interest savings accounts (HISAs) in Australia are offering variable rates up to around 6% p.a. (mostly introductory), with strong ongoing options in the 5–5.5%+ range depending on conditions.

Rates change frequently (often monthly), are variable, and usually come with conditions like minimum monthly deposits, balance growth, or no withdrawals to earn the bonus rate—otherwise you drop to a low base rate (sometimes near 0%). Most have no account-keeping fees, and balances up to $250,000 per account holder per authorised deposit-taking institution (ADI) are protected by the Financial Claims Scheme (FCS). Always compare the latest rates and terms on sites like Finder, Canstar, or Mozo, and check eligibility (e.g., new customer status or age).

Here are some of the top brands and products frequently highlighted in recent comparisons (Finder, Canstar, Mozo, etc.) and discussed by Aussies for actual use. These stand out for competitive rates, features, or popularity:

Strong Introductory Offers (Great for New Customers)

• ING Savings Booster — Often tops lists with up to 6% p.a. for the first 4 months (new to ING savings customers, balances up to $500k), then ongoing around 5.4% with conditions like $100+ monthly balance growth. Requires a linked ING Orange Everyday account. Popular for the high intro rate and app usability.
• Rabobank High Interest Savings Account — 5.90% p.a. intro for 4 months (balances up to $250k), reverting to ~4% ongoing. Minimal or no monthly conditions during the promo period. Frequently praised for straightforward high intro rates.

Best for Ongoing Bonus Rates (With Conditions)

• Judo Bank Savings Account — Regularly named a top bonus rate option (around 5.35% p.a. ongoing with deposit conditions, e.g., $300/month). Good for those willing to meet simple requirements.
• ING Savings Maximiser (or similar ING products) — Around 5.5% p.a. with deposits ($1k+/month) and card purchases. A go-to for many due to the brand's reputation and digital features.
• Westpac Life (ages 18–40) — Up to 5.75% p.a. with balance growth + linked account transactions. One of the stronger Big Four options for eligible younger savers.
• Bank of Queensland (BOQ) Future Saver (younger ages, e.g., 14–35) — Competitive bonus rates (up to ~5.8% in some reports) with deposit/transaction conditions.

Best No-Conditions or Simpler Options

• Macquarie Savings Account — Strong 5% p.a. ongoing base rate (up to high balances, e.g., $2m in some cases) with no deposit/withdrawal conditions. Frequently recommended for set-and-forget saving and reliability.
• AMP Bank GO Save — Around 5.1–5.25% p.a. ongoing with no monthly conditions (subject to balance caps like $50k–$500k). Good for hassle-free earning.
• Bankwest Easy Saver — Intro rates leading to 5% p.a. ongoing (up to $250k), often with no conditions for the base rate.

Other Notable Mentions

• UBank Save Account — Solid intro rates (up to ~5.85%) and ongoing options; popular digital option from NAB.
• Suncorp or Easy Street products — Sometimes highlighted for larger balance limits or specific features.

Big Four banks (CommBank GoalSaver/NetBank Saver ~5%, NAB, ANZ Plus, Westpac) offer accessible options with decent rates (often 5%+ with conditions) and branch/app support, but online/neobank options like ING, Macquarie, Judo, and Rabobank typically lead on rates.

What people actually use: ING and Macquarie come up a lot in discussions for ease and rates; Rabobank and Judo for competitive offers; and Big Four accounts for convenience if you already bank there. Many switch or hold multiple accounts to maximise intro periods (watch for “new customer” rules).

Tips:

• Match the account to your habits—conditions can be easy (e.g., one deposit) or strict.
• Factor in app quality, customer service, and any linked transaction account needs.
• Rates are variable; monitor via comparison sites or bank alerts.
• For kids/youth accounts, look at options like Great Southern Bank or Bank Australia mySaver.

Compare live rates and read the product terms before applying, as offers can end or change quickly. If your balance is large, consider spreading across ADIs for FCS protection.

The best high-interest savings accounts in Australia currently deliver rates nearing or reaching 6.00% p.a. following recent Reserve Bank of Australia (RBA) cash rate hikes. However, the top products that everyday Aussies actually use usually require you to navigate strict monthly criteria ("hoops"). The market is effectively split between high-conditional bonus savers, hassle-free accounts, and short-term introductory deals.

All highly-voted options below are protected up to $250,000 per person under the Australian Government Financial Claims Scheme (FCS).

💡 Top Ongoing Bonus Savers (The "Hoop" Jumpers)

These accounts offer the highest ongoing rates but require you to tick specific boxes every month to earn the bonus interest.

ING Savings Maximiser: Earning up to 5.50% p.a. on balances up to $100,000. To get this rate, you must deposit $1,000+ a month, make 5+ settled card purchases, and grow your balance by at least $1. If you miss a hoop, the rate drops to a painful 0.01% p.a. base rate. ING also offers a Savings Booster account with an intro rate up to 6.00% p.a. for the first 4 months. uBank Save: Earning up to 5.10% p.a. (or a 5.85% p.a. 4-month introductory rate) on balances up to $1 million. uBank is heavily favored by the AusFinance community because its only rule is depositing $200+ per month into any of your accounts. It allows up to 10 separate sub-savings accounts while still paying the top rate across all of them. BOQ Future Saver: Earning up to 5.80% p.a. on balances up to $50,000. The catch is that you must be aged 14 to 35. You need to deposit $1,000+ a month and make 5+ settled card transactions.

🔎 Best Low-Hassle Accounts (No Conditions)

If you don't want your everyday banking tied to your savings, or you frequently withdraw money, these products pay competitive rates with zero requirements.

Macquarie Bank Savings Account: Offers an ongoing 4.75% p.a. flat rate. There are zero deposit requirements or transaction hoops. Macquarie is highly praised for having arguably the best banking app in Australia, and its transaction card features zero international ATM or purchase fees. AMP Bank GO Save: Offers an ongoing 5.10% to 5.25% p.a. on balances up to $50,000 without monthly conditions, making it one of the highest true base rates on the market.

📉 Best Short-Term Promotional Rates ("Honeymoon" Accounts)

If you just want to park a large sum of cash (like a house deposit) for a few months, introductory rates offer excellent returns.

Rabobank High Interest Savings Account: Offers a market-leading 5.90% p.a. introductory rate for the first 4 months on balances up to $250,000. After 4 months, it reverts to a standard variable rate of 4.00% p.a.. Bankwest Easy Saver: Delivers an introductory rate of 5.75% p.a. for the first 4 months. It then reverts to a solid 5.00% p.a. base rate.

Direct Comparison Overview

Note: The "Big Four" banks (CBA, Westpac, NAB, and ANZ) generally trail behind these rates on their standard savers, usually hovering around 5.00% p.a. while imposing rules like absolute zero withdrawals for the month to get the bonus interest.

To help narrow down the best fit, let me know:

Are you looking to park a lump sum short-term, or accumulate savings month-by-month? Are you comfortable moving your everyday transaction banking to a new provider to unlock higher rates? Do you fall into the under-35 age bracket?