Stats crunched by Mozo Experts
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264Personal Savings Accounts
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84Banks
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8Award Categories
With last year’s rise in interest rates, growing your savings and earning interest on them has been the much needed rainbow in a gloomy economy. But with so many savings accounts out there, choosing the best one for your circumstance can be a difficult choice. But this is where we can help.
The Mozo Experts have done the nitty gritty analysis on a long list of savings accounts and awarded those that were standouts to make your search as simple as possible.
Standout Winners
Australia's Best Everyday & Savings Bank
Macquarie took out wins in a string of our awards categories for personal customers. The competitive unconditional rates delivered wins in No Strings Savings and Kick Start Savings. The linked transaction account won for Everyday Bank Account with its interest earning feature as well as taking a win in the Travel Debit Card category.
The judges considered the simplicity of the deposit products without the strict bonus conditions that have become common for high interest savings accounts, and found that Macquarie’s strong savings rates are enough to set them apart from the other contenders.
Congratulations to:
Macquarie
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Transaction Account
- account fee
- $0.00
- Interest Rate
- Balances from $0: 2.50% p.a.
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Savings Account
- maximum rate
- 5.10% p.a. (for $0 to $250,000)
- maximum rate conditions
- Bonus variable rate is available for the first 4 months, reverting to 4.75% p.a.
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Cash Management Account
- account fee
- $0.00
- Interest Rate
- Balances from $0: 2.50% p.a.
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Cash Management Accelerator Account
- account fee
- $0.00
- Interest Rate
- 4.40% p.a.(for $0 to $2,000,000)
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Term Deposit
- interest rate
- 3.80% p.a.
- minimum deposit
- $5,000.00
Highly Commended Everyday & Savings Bank
This award category recognises the institutions who took out award wins across several categories, making them worthy of recommendation.
Congratulations to:
AMP Bank, Great Southern Bank, and ING
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Orange Everyday
- account fee
- $0.00
- payment options
- Apple Pay, Google Pay, PayID, PayTo
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Savings Maximiser
- standard rate
- 0.05% p.a.(for $0 and over)
- maximum rate
- 5.40% p.a. (for $0 to $100,000)
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Savings Accelerator
- standard rate
- 2.60% p.a.(for $0 to $50,000)
- maximum rate
- 3.30% p.a. (for $0 to $50,000)
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Everyday Edge Account
- account fee
- $0.00
- payment options
- Apple Pay, Google Pay, PayID, Samsung Pay
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Savings Maximiser
- standard rate
- 0.05% p.a.(for $0 and over)
- maximum rate
- 5.40% p.a. (for $0 to $100,000)
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Everyday Account
- account fee
- $0.00
- payment options
- Apple Pay, Google wallet
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AMP Saver Account
- standard rate
- 0.75% p.a.(for $0 and over)
- maximum rate
- 4.95% p.a. (for $0 to $500,000)
High Interest Savings
If you’re looking for a great return on your savings, then the winners of this award is where you want to be starting your search. This category identified the best ongoing savings rates, either an unconditional base rate or an interest rate where qualifying criteria must be met each month.
Congratulations to:
AMP Bank, Great Southern Bank, ING , ME, MOVE Bank, Rabobank, RACQ Bank, ubank, and Virgin Money
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Savings Maximiser
- Maximum Rate
- 5.40% p.a. (for $0 to $100,000)
- Standard Rate
- 0.05% p.a.(for $0 and over)
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AMP Saver Account
- Maximum Rate
- 4.95% p.a. (for $0 to $500,000)
- Standard Rate
- 0.75% p.a.(for $0 and over)
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Home Saver
- Maximum Rate
- 5.00% p.a. (for $0 to $100,000)
- Standard Rate
- 0.50% p.a.(for $0 and over)
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HomeME Savings Account
- Maximum Rate
- 5.00% p.a. (for $1 to $100,000)
- Standard Rate
- 0.55% p.a.(for $0 and over)
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Growth Saver
- Maximum Rate
- 5.25% p.a. (for $0 to $25,000)
- Standard Rate
- 0.10% p.a.(for $0 and over)
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PremiumSaver
- Maximum Rate
- 5.10% p.a. (for $0 to $250,001)
- Standard Rate
- 1.00% p.a.(for $0 and over)
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Bonus Saver
- Maximum Rate
- 5.00% p.a. (for $0 to $100,000)
- Standard Rate
- 0.01% p.a.(for $0 and over)
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High Interest Save Account
- Maximum Rate
- 5.10% p.a. (for $0 to $100,000)
- Standard Rate
- 0% p.a.(for $0 and over)
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Boost Saver with Go Account - Lock Saver Feature
- Maximum Rate
- 5.00% p.a. (for $0 to $250,000)
- Standard Rate
- 0.05% p.a.(for $0 and over)
Kick Start Savings
For savers looking to take advantage of market-leading introductory rates to get their savings off on a good start. We calculated the total returns for the first 12 months to determine the winners of this category.
Congratulations to:
Macquarie and Rabobank
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Savings Account
- Maximum Rate
- 5.10% p.a. (for $0 to $250,000)
- Standard Rate
- 4.75% p.a.(for $0 to $1,000,000)
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High Interest Savings Account
- Maximum Rate
- 5.45% p.a. (for $0 to $250,001)
- Standard Rate
- 4.00% p.a.(for $0 to $250,001)
No Strings Savings
This award identifies the savings accounts with the best ongoing rates for savers who don’t want to be tied down or meet any special conditions.
Congratulations to:
Australian Unity, Bank of Queensland, G&C Mutual Bank, Goldfields Money, Macquarie, and Unity Bank
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Simple Saver Account
- Account Fee
- $0.00
- Standard Rate
- 4.55% p.a.(for $0 to $5,000,001)
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Cash Management Accelerator Account
- Account Fee
- $0.00
- Standard Rate
- 4.40% p.a.(for $0 to $2,000,000)
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Savings Account
- Account Fee
- $0.00
- Standard Rate
- 4.75% p.a.(for $0 to $1,000,000)
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MoneyMAX Account
- Account Fee
- $5.00
- Standard Rate
- 4.35% p.a.(for $1 and over)
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MoneyMAX Account
- Account Fee
- $5.00
- Standard Rate
- 4.35% p.a.(for $1 and over)
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Cash Management Account
- Account Fee
- $0.00
- Standard Rate
- 4.40% p.a.(for $1 and over)
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Freedom Saver
- Account Fee
- $0.00
- Standard Rate
- 4.85% p.a.(for $0 to $50,001)
Young Adult High Interest Savings
In this category, our judges awarded savings accounts specifically for people in their 20’s which have the leading rates whether or not there are requirements that must be met each month to get the top rate.
Congratulations to:
Bank of Queensland, Great Southern Bank, IMB Bank, and Police Bank
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Future Saver Account - 14 to 35 years
- Maximum Rate
- 5.25% p.a. (for $0 to $50,000)
- Standard Rate
- 0.05% p.a.(for $0 and over)
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Goal Saver
- Maximum Rate
- 5.10% p.a. (for $0 to $50,000)
- Standard Rate
- 0.50% p.a.(for $0 and over)
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Reward Saver Kick Start Account
- Maximum Rate
- 5.00% p.a. (for $0 to $1,000,000)
- Standard Rate
- 0% p.a.(for $0 and over)
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U30 Super Charge Account
- Maximum Rate
- No Current Offer
- Standard Rate
- 5.00% p.a.(for $0 to $10,000)
Teen High Interest Savings
This category was awarded to savings accounts specially for teenagers exclusive with the leading rates whether unconditional base rates or ongoing conditional bonus rates.
Congratulations to:
Australian Mutual Bank, Bank of Queensland, First Option Bank, Great Southern Bank, and IMB Bank
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Kids Bonus Saver
- Maximum Rate
- 5.30% p.a. (for $1 to $5,556)
- Standard Rate
- 0.05% p.a.(for $1 and over)
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Young Saver Account
- Maximum Rate
- No Current Offer
- Standard Rate
- 2.35% p.a.(for $5,000 to $10,000)
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Future Saver Account - 14 to 35 years
- Maximum Rate
- 5.25% p.a. (for $0 to $50,000)
- Standard Rate
- 0.05% p.a.(for $0 and over)
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Youth eSaver
- Maximum Rate
- No Current Offer
- Standard Rate
- 5.25% p.a.(for $0 to $5,001)
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Reward Saver Kick Start Account
- Maximum Rate
- 5.00% p.a. (for $0 to $1,000,000)
- Standard Rate
- 0% p.a.(for $0 and over)
Kids High Interest Savings
For the young ones, this was awarded to savings accounts that are designed for children which offer the leading rates in our judge’s assessment.
Congratulations to:
Australian Mutual Bank, Bank Australia, First Option Bank, and Great Southern Bank
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Kids Bonus Saver
- Maximum Rate
- 5.30% p.a. (for $1 to $5,556)
- Standard Rate
- 0.05% p.a.(for $1 and over)
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Young Saver Account
- Maximum Rate
- No Current Offer
- Standard Rate
- 2.35% p.a.(for $5,000 to $10,000)
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mySaver
- Maximum Rate
- 4.85% p.a. (for $0 to $50,000)
- Standard Rate
- 0.10% p.a.(for $0 to $250,000)
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Youth eSaver
- Maximum Rate
- No Current Offer
- Standard Rate
- 5.25% p.a.(for $0 to $5,001)
What are the Mozo Experts Choice Awards?
Now in their twelfth year, the Mozo Experts Choice Awards present an opportunity to highlight products in the market we believe offer great value to Australians.
For the 2025 Savings Accounts awards, we analysed 289 personal products issued by 79 providers.
“Higher interest rates mean more interest earned on your savings, so it pays to find a great savings account to help you achieve a better return," Mozo Experts Choice Awards Judge Peter Marshall said.
“No matter what age you are, or what your savings needs are, the winners list of Savings Accounts are a great place to begin your savings journey.”
For details on how we crunched the numbers and determined our winners, see the 2025 Mozo Experts Choice Savings Accounts Awards methodology report.
Our Expert Judges
We couldn’t have a name like the Mozo Experts Choice Awards without a dedicated and experienced team of product data analysts at the helm. Combined they have decades of experience behind them. Meet them below.
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AJ Duncanson
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Peter Marshall
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Meredith Allan
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George Hirst
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Rumpa Saha
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Afia Asha
FAQs
How do I choose the best savings account for me?
When you’re looking for a savings account, you’ll want to think carefully about your savings habits and what your final savings goal is. By comparing the features in our winners list, you can see which provider could better suit your savings needs when making your decision in finding the one that’s best for you.
What’s the Judging Criteria for the awards?
Running since 2014, the Mozo Experts Choice Awards recognise products that deliver exceptional value or benefits to consumers. See our Mozo Experts Choice Savings Accounts Awards methodology report for more detailed information on how we performed product comparisons and determined the final Savings Accounts Award winners for 2025.
Did you compare all savings accounts in the market for these awards?
For the Mozo Experts Choice Awards, we aim to include most savings account providers in the market. However, not every financial institution or product on the market will be included in our review. Any product we review must be available in the market at the time of our analysis.
Who are the Mozo Experts?
The Mozo Experts Choice Awards are overseen by AJ Duncanson and Peter Marshall. AJ is Mozo’s Data Director, a data scientist and actuary who has worked in financial services and product comparison for over 30 years. Peter has been in the industry even longer, and as Mozo's Financial Services Specialist he contributes to the team of analysts that gather information and compare products every day, and oversees the calculations and data quality used for producing the Mozo Experts Choice Awards.
I work for a financial institution, how do we promote our win?
Please get in touch with us to discuss by email should you have any queries.