In this article, I’ll share the five best high-interest savings accounts in Australia that can give you great returns this year.
1. UBank Save Account
UBank, owned by NAB, offers 5.5% interest up to $100,000 and 5% between $100,000–$250,000. The only step is transferring $500 into your account each month. You can even move it back out immediately. I’ve been using UBank for 3 years, and it’s my favorite for its simple rules and easy platform.
2. ING Savings Maximiser
ING also gives 5.5% up to $100,000, but you need to deposit $1,000 monthly, make five card purchases, and grow your balance a little. Once automated, it’s simple. I’ve been with ING for 3 years and never missed the bonus.
3. Bank of Queensland Future Saver
For ages 14–35, BOQ offers 5.5% up to $50,000 with just two conditions: deposit $1,000 and make five purchases monthly.
4. Macquarie Savings Account
Macquarie gives 5.35% for the first 4 months, then 5% up to $1 million, with no requirements at all. Just park your money and earn.
5. Rabobank Premium Saver
Rabobank pays 5.35% up to $250,000, but you need to grow your balance by $200 monthly.
👉 All accounts are government-guaranteed up to $250,000, so your money is safe.
Overall, UBank is the easiest and best choice, ING is strong with automation, BOQ is great for younger savers, Macquarie is hassle-free, and Rabobank works if you’re focused only on savings.
Disclaimer: This is not financial advice, only general information.