While there are upwards of 30 banks offering savings account rates beginning with a 5, Unity Bank's is the first and only to offer an unconditional rate of 5.00% p.a. according to Savings.com.au market research.
The current highest savings account rate on offer is 5.65% p.a. from ME Bank - it's available through its 'ME Go' app only, and requires a couple of conditions to meet the bonus criteria.
Other accounts such as ING's popular Savings Maximiser offer similar.
This comes as RaboBank boosted its four-month intro account by 20 basis points to 5.60% p.a. in a non-RBA rate hiking month, and the Teachers Mutual Bank group boosted its ongoing rate to 5.50% p.a.
Advertisement
Need somewhere to store cash and earn interest? The table below features savings accounts with some of the highest interest rates on the market.
Provider | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
4 | 0 | 0 | 0 | $product[$field["value"]] | $product[$field["value"]] | $product[$field["value"]] | More details | ||||||
FEATURED | Savings Account (Amounts < $250k)
| ||||||||||||
Savings Account (Amounts < $250k)
| |||||||||||||
0 | 1000 | 0 | $product[$field["value"]] | $product[$field["value"]] | $product[$field["value"]] | More details | |||||||
FEATURED | Saver Account (<$250k)
| ||||||||||||
Saver Account (<$250k)
| |||||||||||||
0 | 200 | 0 | $product[$field["value"]] | $product[$field["value"]] | $product[$field["value"]] | More details | |||||||
FEATUREDNo monthly fees | Save Account
| ||||||||||||
Save Account
|
- A high-interest online savings account with no monthly fees, easy withdrawals and award-winning digital banking
- No withdrawal notice periods or interest rate penalties