Unity Bank launches Australian-first unconditional 5% savings account
Available on the 'MoneyMax' savings account, the 5.00% p.a. rate is the first of its kind in this current rate environment - no minimum transaction or deposit requirements or other hoops to jump through.
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.
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 July 27, 2024. View disclaimer.