Independent comparison of high interest savings accounts
HISA ranks every Australian high-interest savings account by a single objective number — the rate — straight from the banks’ own Open Banking feeds. No paid rankings, no spin.
- Top introductory offer right now: 5.90% p.a. for new customers
- Top ongoing rate with no monthly conditions: 5.10% p.a.
- Tracking 20 banks — the ~71% who miss their bonus each month lose the most
Top savings rates right now
| # | Bank & product | Max rate p.a. | Base rate | Conditions | Bonus cap | Fee |
|---|---|---|---|---|---|---|
| 1 |  RabobankRabobank High Interest Savings Account |
5.90%Introductory | 4.00% | Intro rate | $250,000 | No fee |
| 2 |  ubankubank Save |
5.85%Introductory | — | Intro rate | $100,000 | No fee |
| 3 |  INGSavings Maximiser |
5.49%Bonus (conditional) | 0.01% | Monthly conditions | — | No fee |
| 4 |  MacquarieMacquarie Savings Account |
5.35%Introductory | 5.00% | Intro rate | $250,000 | No fee |
| 5 |  St.GeorgeIncentive Saver |
5.14%Bonus (conditional) | 0.01% | Monthly conditions | $20,000 | No fee |
| 6 |  ANZ PlusANZ Plus Flex Saver |
5.10%Ongoing (unconditional) | 5.10% | No monthly conditions | $5,000 | No fee |
| 7 |  P&N BankSavvy Saver |
5.05%Bonus (conditional) | 0.20% | Monthly conditions | $100,000 | No fee |
| 8 |  MyStateBonus Saver |
5.00%Bonus (conditional) | — | Monthly conditions | $500,000 | No fee |
Sorted by maximum advertised rate (an objective sort, not a recommendation). “Max rate” is the highest rate the product can pay; most require monthly conditions or are introductory. Base rate is what you earn if conditions aren’t met / after the intro period. Figures from Open Banking feeds, 5 September 2026 — verify with the bank.
Prefer no strings attached? No-monthly-conditions accounts
The ACCC found ~71% of savers miss their bonus in an average month. These accounts pay their headline rate without monthly deposit or transaction hurdles.
Chasing a launch offer?
New-customer intro rates can beat every ongoing rate — for about four months. See the current time-limited offers and, crucially, what each reverts to when it ends.
Popular head-to-head comparisons
Deciding between two specific accounts? Compare them side by side on live rate, conditions and caps.
How high interest savings accounts work
Bonus rate vs base rate
The headline rate on most savings accounts combines a low base rate with a conditional bonus rate. To qualify for the full variable return each month, account holders must meet specific criteria, such as depositing a minimum sum, making settled debit transactions, or ensuring the end-of-month balance increases.
Failing to satisfy even one condition for the period causes the account to revert to the base rate for that month—an outcome experienced regularly by a significant proportion of savers.
Intro rates and balance caps
Introductory accounts operate on a different model, providing a promotional rate for a short initial period before automatically stepping down to an ongoing variable rate. In addition, the highest rates often apply only up to an upper balance cap; any funds held beyond this threshold earn the lower base rate.
Advertised rates are indicative and subject to change. Eligible balances up to $250,000 per person per licensed ADI remain protected by the Financial Claims Scheme, and any interest earned is taxable at individual marginal tax rates.