Bank of Queensland's (BOQ) Fast Track Starter Account, its youth savings account for people aged 14 to 24 years old, has seen a 50 basis point cut from 2.50% p.a. to 2.00% p.a.

Savers can now access this 2.00% p.a. interest rate on balances up to $10,000 given the same criteria is met.

BOQ's savings account interest rate was previously tied with Westpac's Westpac Life account, which saw interest rates slashed in September 2021 from 3.00% p.a. to 2.50% p.a.

In Savings.com.au's market research, these were some of the highest interest rates on savings accounts currently on offer.

Any good news for savers?

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Need somewhere to store cash and earn interest? The table below features savings accounts with some of the highest interest rates on the market.

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BankSavings AccountBase Interest Rate Max Interest Rate Total Interest Earned Introductory Term Minimum Amount Maximum Amount Minimum Monthly Deposit Minimum Opening Deposit ATM Access Joint Application TagsFeaturesLinkComparePromoted ProductDisclosure
3.70% p.a.
5.15% p.a.
Intro rate for 4 months
then 3.70% p.a.
$844
4 months
$0
$249,999
$0
$1
  • Bonus rate for the first 4 months from account opening
  • No account keeping fees
  • No minimum balance
 Disclosure
4.50% p.a.
4.85% p.a.
Intro rate for 4 months
then 4.50% p.a.
$933
4 months
$0
$99,999,999
$0
$0
  • Bonus variable rate for the first 4 months on balances up to $250k and high variable ongoing rates.
  • No fees and no monthly requirements to earn interest.
  • Easily open an account online in 3 minutes.
Disclosure
4.20% p.a.
4.95% p.a.
Intro rate for 4 months
then 4.20% p.a.
$899
4 months
$250,000
$99,999,999
$0
$0
  • Special offer: Savings Accelerator (Kick Starter offer).
  • For a limited time, new ING customers can get a bonus 0.75% p.a on their savings rate balances of $150,000 up to $500,000 for the first 4 months. T&Cs apply.
  • If your balance is over $500,000 (but less than $5 million) you will earn the ongoing variable rate of 4.20%
 Disclosure
3.05% p.a.
4.85% p.a.
Intro rate for 4 months
then 3.05% p.a.
$736
4 months
$0
$99,999,999
$0
$0
  • Earn 4.85% p.a. for the first 4 months
  • No minimum Balance
  • No monthly deposit or withdrawal required
0.00% p.a.
Bonus rate of 4.85%
Rate varies on savings amount.
4.85% p.a.
$992
–
$0
$99,999
$0
$0
  • Sign up with code SWIPE20 to score $20 after 5 card purchases in your first 30 days. See terms on the app store
  • Deposit $500+ per month from an external source to earn the bonus interest.
  • Tiered rates apply to savings balances.
 Disclosure
  • Bonus variable rate for the first 4 months on balances up to $250k and high variable ongoing rates.
  • No fees and no monthly requirements to earn interest.
  • Easily open an account online in 3 minutes.

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Important Information and Comparison Rate Warning

All products with a link to a product provider’s website have a commercial marketing relationship between us and these providers. These products may appear prominently and first within the search tables regardless of their attributes and may include products marked as promoted, featured or sponsored. The link to a product provider’s website will allow you to get more information or apply for the product. By de-selecting “Show online partners only” additional non-commercialised products may be displayed and re-sorted at the top of the table. For more information on how we’ve selected these “Sponsored”, “Featured” and “Promoted” products, the products we compare, how we make money, and other important information about our service, please click here. Rates correct as of . View disclaimer.

Important Information and Comparison Rate Warning
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