Finty

Compare bonus saver accounts

Enter your balance to see the interest 98 bonus saver accounts would pay you, and what each asks of you to earn its bonus, so your savings earn more.

Bonus savers pay a higher rate in any month you meet the bank's conditions, such as adding a set amount or making no withdrawals. Miss a condition and you earn only the base rate that month.

Written byDavid Boyd

Plan your savings

Tell us what you have now, what you can add each month and for how long, and we'll show where each account below would take you, at today's rates.

98 accounts

  • RACQ Bank

    RACQ Bank Bonus Saver Account

    Bonus rateEligibility limits

    Rate a year, with bonus
    6.01%
    Base rate
    0.01%
    Bonus rate
    6.00%
    Interest a month, at first
    $50
    Balance limit
    None

    Your balance in 1 year

    $685 interest

    Open accountSee details
  • Defence Bank

    Defence Bank ISaver

    Bonus rateEligibility limits

    Rate a year, with bonus
    5.75%
    Base rate
    0.50%
    Bonus rate
    5.25%
    Interest a month, at first
    $48
    Balance limit
    $250,000

    Your balance in 1 year

    $655 interest

    Open accountSee details
  • Defence Bank

    Defence Bank Salute Account

    Bonus rateEligibility limits

    Rate a year, with bonus
    5.75%
    Base rate
    4.00%
    Bonus rate
    1.75%
    Interest a month, at first
    $48
    Balance limit
    None

    Your balance in 1 year

    $655 interest

    Open accountSee details
  • ING

    ING Savings Maximiser

    Bonus rateEligibility limits

    Rate a year, with bonus
    5.75%
    Base rate
    0.01%
    Bonus rate
    5.74%
    Interest a month, at first
    $48
    Balance limit
    $5,000,000

    Your balance in 1 year

    $655 interest

    Open accountSee details
  • ING

    ING Savings Booster

    Bonus rateIntro rateEligibility limits

    Rate a year, with bonus
    5.65%
    Base rate
    2.50%
    Bonus rate
    3.15%
    Interest a month, at first
    $47
    Balance limit
    None

    Your balance in 1 year

    $643 interest

    Open accountSee details
  • MoveBank

    MoveBank Growth Saver

    Bonus rate

    Rate a year, with bonus
    5.65%
    Base rate
    0.10%
    Bonus rate
    5.55%
    Interest a month, at first
    $47
    Balance limit
    None

    Your balance in 1 year

    $643 interest

    Open accountSee details

  • Rabobank PremiumSaver

    Bonus rate

    Rate a year, with bonus
    5.65%
    Base rate
    0.80%
    Bonus rate
    4.85%
    Interest a month, at first
    $47
    Balance limit
    None

    Your balance in 1 year

    $643 interest

    Open accountSee details

  • Great Southern Bank Goal Saver

    Bonus rate

    Rate a year, with bonus
    5.60%
    Base rate
    0.50%
    Bonus rate
    5.10%
    Interest a month, at first
    $47
    Balance limit
    None

    Your balance in 1 year

    $637 interest

    Open accountSee details
  • Judo Bank

    Judo Bank Personal Savings Account

    Bonus rateEligibility limits

    Rate a year, with bonus
    5.60%
    Base rate
    0.05%
    Bonus rate
    5.55%
    Interest a month, at first
    $47
    Balance limit
    None

    Your balance in 1 year

    $637 interest

    Open accountSee details
  • Bank of Queensland

    Bank of Queensland Simple Saver Account

    Bonus rateEligibility limits

    Rate a year, with bonus
    5.55%
    Base rate
    5.00%
    Bonus rate
    0.55%
    Interest a month, at first
    $46
    Balance limit
    None

    Your balance in 1 year

    $631 interest

    Open accountSee details
  • People First Bank

    People First Bank Dream Fund

    Bonus rate

    Rate a year, with bonus
    5.55%
    Base rate
    0.01%
    Bonus rate
    5.54%
    Interest a month, at first
    $46
    Balance limit
    None

    Your balance in 1 year

    $631 interest

    Open accountSee details

  • Great Southern Bank Home Saver

    Bonus rate

    Rate a year, with bonus
    5.50%
    Base rate
    0.50%
    Bonus rate
    5.00%
    Interest a month, at first
    $46
    Balance limit
    None

    Your balance in 1 year

    $626 interest

    Open accountSee details
  • NAB

    NAB ISaver

    Bonus rateEligibility limits

    Rate a year, with bonus
    5.50%
    Base rate
    1.85%
    Bonus rate
    3.65%
    Interest a month, at first
    $46
    Balance limit
    None

    Your balance in 1 year

    $626 interest

    Open accountSee details
  • Bankwest

    Bankwest Easy Saver

    Bonus rateIntro rateEligibility limits

    Rate a year, with bonus
    5.45%
    Base rate
    5.25%
    Bonus rate
    0.20%
    Interest a month, at first
    $45
    Balance limit
    None

    Your balance in 1 year

    $620 interest

    Open accountSee details
  • Bank of Melbourne

    Bank of Melbourne Incentive Saver

    Bonus rateEligibility limits

    Rate a year, with bonus
    5.40%
    Base rate
    0.01%
    Bonus rate
    5.39%
    Interest a month, at first
    $45
    Balance limit
    None

    Your balance in 1 year

    $614 interest

    Open accountSee details
  • BankSA

    BankSA Incentive Saver

    Bonus rateEligibility limits

    Rate a year, with bonus
    5.40%
    Base rate
    0.01%
    Bonus rate
    5.39%
    Interest a month, at first
    $45
    Balance limit
    None

    Your balance in 1 year

    $614 interest

    Open accountSee details
  • St. George Bank

    St. George Bank Incentive Saver

    Bonus rateEligibility limits

    Rate a year, with bonus
    5.40%
    Base rate
    0.01%
    Bonus rate
    5.39%
    Interest a month, at first
    $45
    Balance limit
    None

    Your balance in 1 year

    $614 interest

    Open accountSee details
  • ANZ Plus

    ANZ Plus Growth Saver

    Bonus rate

    Rate a year, with bonus
    5.35%
    Base rate
    0.10%
    Bonus rate
    5.25%
    Interest a month, at first
    $45
    Balance limit
    None

    Your balance in 1 year

    $608 interest

    Open accountSee details
  • Australian Mutual Bank

    Australian Mutual Bank Momentum Saver account

    Bonus rateEligibility limits

    Rate a year, with bonus
    5.35%
    Base rate
    0.10%
    Bonus rate
    5.25%
    Interest a month, at first
    $45
    Balance limit
    None

    Your balance in 1 year

    $608 interest

    Open accountSee details
  • Bank Australia

    Bank Australia Bonus Saver

    Bonus rateIntro rateEligibility limits

    Rate a year, with bonus
    5.35%
    Base rate
    0.10%
    Bonus rate
    5.25%
    Interest a month, at first
    $45
    Balance limit
    None

    Your balance in 1 year

    $608 interest

    Open accountSee details

Showing 20 of 98

Rates are variable and can change at any time. Balances are estimates before tax, at today's rates, with interest added monthly at the rate for the balance at the time. Some banks pay a balance band's rate only on the part of the balance inside it, and an introductory rate ends after its set time.

Bonus saver accounts at a glance

Worked out from the 98 accounts from 65 banks we compare on this page.

Typical top rate

5.03%

Half the accounts pay between 4.39% and 5.35% at their best.

Typical base rate

0.10%

What you earn without meeting any bonus conditions.

With an intro rate

10 of 98

accounts pay a higher rate for the first few months only.

Bonus conditions

45 with conditions53 without
How top rates are spreadNumber of accounts in each band. The most common is 5–5.5%.

The short version

  • Bonus saver accounts pay a higher rate when you meet conditions each month.
  • Common conditions: grow the balance, deposit a set amount, or make no withdrawals.
  • Miss them and you earn only the low base rate that month.

How bonus savers work

A bonus saver pays a low base rate plus a bonus in any month you meet the bank's conditions. Miss a condition and you get only the base rate for that month, which can be a big drop.

Use the planner above and choose "I'll meet them" or "Base rate only" to see both outcomes for your balance.

Common conditions

  • Deposit a minimum amount each month, often $20 to $1,000 from outside the bank.
  • Grow the balance by the end of each month.
  • Make no withdrawals during the month.
  • Make a few card purchases from a linked everyday account.

Watch the balance caps

Many bonus rates apply only up to a set balance, such as $50,000 or $100,000, with a lower rate above it. If you have more saved, check the rate on your whole balance.

Pros

  • Some of the highest savings rates around, when you meet the conditions.
  • The conditions build a regular saving habit.
  • No fees on most accounts.

Cons

  • Miss a condition and you drop to a low base rate for the month.
  • Balance caps can limit the bonus on bigger balances.
  • Conditions can change, so check them now and then.

Alternatives

  • A savings account with no conditions, which pays the same rate whatever you do.
  • A term deposit, which locks your rate for a set time. It suits money you won't need, and protects you from rate cuts.
  • A home loan offset account, if you have a mortgage. Every dollar cuts the interest you pay, with no tax on the saving.

How to open one

Most banks let you open a bonus saver online in about ten minutes.

  • Have your ID ready. A driver's licence or passport, and your tax file number so you're not taxed at the top rate on the interest.
  • Link an everyday account. Most savings accounts move money through a linked transaction account, often with the same bank.
  • Set up a regular transfer. An automatic transfer on payday makes saving the default, and helps meet any deposit condition.

Questions people ask

What happens if I miss a condition?

You get only the base rate for that month, which is often much lower. The bonus usually comes back the next month you meet the conditions.

Is my money safe in a savings account?

Savings with an Australian bank, building society or credit union are covered by the government's Financial Claims Scheme, up to $250,000 per person per bank. Check that the provider is an authorised deposit-taking institution.

Is savings interest taxed?

Yes. Interest counts as income and is taxed at your marginal rate. Give your bank your tax file number, or it must hold back tax at the top rate.