Which banks are lifting savings rates after the November RBA rate rise?
- The Reserve Bank of Australia has lifted the official cash rate by 25 basis points to 4.85%
- Many savings account rates are expected to rise with the cash rate in the coming days
- The average rate on a bonus savings account is expected to rise to 5.30% p.a.
The Reserve Bank of Australia has raised the official cash rate by 25 basis points to 4.85%, the fifth rate hike of 2026.
While it's not good news for mortgage holders, savers will welcome a boost to their savings account interest rates. But is your bank actually passing it on?
Savings.com.au will provide rolling updates on this page of savings account rate changes following the RBA rate hike on 3 November.
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Which banks are passing on the November rate rise to savings accounts?
Rate rise announcements are current as at the date noted below.
- Article last updated: 4 November 2026
- Want to tip us off about savings account rate rise we've missed? Email us: enquiries@savings.com.au
AMP Bank Go savings account rate hike (pending)
ANZ savings account rate hike (pending)
Australian Military Bank savings account rate hike (pending)
Australian Mutual Bank savings account rate hike
Auswide Bank savings account rate hike (pending)
Bank Australia savings account rate hike (pending)
Bank First savings account rate hike (pending)
Bank of Melbourne savings account rate hike (pending)
Bank of Queensland (BOQ) savings account rate hike (pending)
Bank of Sydney savings account rate hike (pending)
Bank of Us savings account rate hike (pending)
Bank First savings account rate hike (pending)
BankSA savings account rate hike (pending)
BankVic savings account rate hike (pending)
Bankwest savings account rate hike (pending)
BCU savings account rate hike (pending)
Bendigo Bank savings account rate hike (pending)
Beyond Bank savings account rate hike (pending)
Commonwealth Bank savings account rate hike (pending)
Credit Union SA savings account rate hike (pending)
Defence Bank savings account rate hike (pending)
Gateway Bank savings account rate hike (pending)
Goulburn Murray Credit Union savings account rate hike (pending)
Great Southern Bank savings account rate hike (pending)
Greater Bank savings account rate hike (pending)
Heartland Bank savings account rate hike (pending)
Heritage Bank savings account rate hike (pending)
Horizon Bank savings account rate hike (pending)
HSBC savings account rate hike (pending)
Hume Bank savings account rate hike (pending)
IMB Bank savings account rate hike (pending)
ING savings account rate hike (pending)
Judo Bank savings account rate hike (pending)
Macquarie Bank savings account rate hike
ME Bank savings account rate hike (pending)
MOVE Bank savings account rate hike (pending)
MyState Bank savings account rate hike (pending)
NAB savings account rate hike (pending)
Newcastle Permanent savings account rate hike (pending)
P&N Bank savings account rate hike (pending)
People First Bank savings account rate hike (pending)
Police Credit Union savings account rate hike (pending)
QBank savings account rate hike (pending)
Qudos Bank savings account rate hike (pending)
Rabobank savings account rate hike (pending)
RACQ Bank savings account rate hike (pending)
Revolut savings accounts rate hike (pending)
St George savings account rate hike (pending)
Summerland Bank savings account rate hike (pending)
Suncorp Bank savings account rate hike (pending)
Teachers Mutual Bank savings account rate hike
The Mutual Bank savings account rate hike (pending)
Ubank savings account rate hike
UniBank savings account rate hike (pending)
Unity Bank savings account rate hike (pending)
Up savings account rate hike (pending)
Virgin Money savings account rate hike (pending)
Westpac savings account rate hike (pending)
The Big Five
ANZ
Pending
See also: Quick Guide to ANZ Savings Accounts
Commonwealth Bank
Pending
See also: Quick Guide to Commonwealth Bank savings accounts
Macquarie Bank
Effective 19 November 2026, the variable ongoing rate available on the Macquarie Savings Account will increase 0.25% to 5.50% p.a. on balances up to $250,000.
Here's a look at all rates as they apply to Macquarie's new Savings Account balance tiers:
| New ongoing variable rate | Old rate (% change) | Balance tier |
| 5.50% p.a. | 5.25% p.a. (+0.25%) | up to $25,000 |
| 5.50% p.a. | 5.25% p.a. (+0.25%) | $25,00,00.01 - $50,000 |
| 5.50% p.a. | 5.25% p.a. (+0.25%) | $50,000.01 - $250,000 |
| 5.30% p.a. | 5.05% p.a. (+0.25%) | $250,000.01 - $2,000,000 |
| 4.85% p.a. | 4.60% p.a. (+0.25%) | $2,000,000.01 - $5,000,000 |
| 4.85% p.a. | 4.60% p.a. (+0.25) | $5,000,000.01 and above |
The variable ongoing rate available on the Macquarie Transaction Account will increase 0.25% to 3.25% p.a. on all balances.
See also: Quick Guide to Macquarie Savings Accounts
National Australia Bank
Pending
See also: Quick Guide to NAB Savings Accounts
Westpac
Pending
See also: Quick Guide to Westpac Savings Accounts
Other banks
(Alphabetical order)
Teachers Mutual Bank Ltd
(includes Teachers Mutual Bank, Australian Mutual Bank, Firefighters Mutual Bank, Health Professionals Bank, and UniBank)
The Teachers Mutual Group will increase interest rates by 0.25% p.a. across its variable-rate savings products, effective 12 November 2026.
This date excludes products with monthly bonus interest which will be applied in the following monthly cycle on 1 December 2026.
Ubank
Ubank will lift the interest rate on its Everyday Bonus account to 5.60% p.a., up from 5.35% p.a., effective 10 November 2026.
The bonus rate applies to balances of up to $1 million and requires customers to increase their balance each month.
See also: Guide to Ubank Savings Accounts
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| Bank | Savings Account | Base Interest Rate | Max Interest Rate | Total Interest Earned | Introductory Term | Minimum Amount | Maximum Amount | Linked Account Required | Minimum Monthly Deposit | Minimum Opening Deposit | Account Keeping Fee | ATM Access | Joint Application | Tags | Features | Link | Compare | Promoted Product | Disclosure |
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3.00% p.a. | 6.25% p.a. Intro rate for 3 months then 3.00% p.a. | $769 | 3 months | $0 | $49,999 | $0 | $0 | $0 |
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0.05% p.a. Bonus rate of 5.55% Rate varies on savings amount. | 5.60% p.a. | $1,149 | – | $0 | $249,999 | $0 | $0 | $0 |
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5.30% p.a. | 5.30% p.a. | $1,086 | – | $0 | $99,999,999 | $0 | $0 | $0 |
| Promoted | Disclosure | ||||||||
2.50% p.a. Bonus rate of 3.15% Rate varies on savings amount. | 6.25% p.a. Intro rate for 4 months then 5.65% p.a. | $1,186 | 4 months | $0 | $499,999 | $0 | $0 | $0 | Disclosure | ||||||||||
4.15% p.a. | 6.15% p.a. Intro rate for 4 months then 4.15% p.a. | $973 | 4 months | $0 | $249,999 | $0 | $1 | $0 | Disclosure |
