Independent comparison of high interest savings accounts
HISA ranks every Australian high-interest savings account by a single objective number — the rate — straight from the banks’ own Open Banking feeds. No paid rankings, no spin.
- Top introductory offer right now: 5.90% p.a. for new customers
- Top ongoing rate with no monthly conditions: 5.35% p.a.
- Tracking 20 banks — the ~71% who miss their bonus each month lose the most
Top savings rates right now
| # | Bank & product | Max rate p.a. | Base rate | Conditions | Bonus cap | Fee |
|---|---|---|---|---|---|---|
| 1 |  RabobankRabobank High Interest Savings Account |
5.90%Introductory | 4.00% | Intro rate | $250,000 | No fee |
| 2 |  ubankubank Save |
5.85%Introductory | — | Intro rate | $100,000 | No fee |
| 3 |  INGSavings Maximiser |
5.49%Bonus (conditional) | 0.01% | Monthly conditions | — | No fee |
| 4 |  MacquarieMacquarie Savings Account |
5.35%Introductory | 5.00% | Intro rate | $250,000 | No fee |
| 5 | UpUp Saver |
5.35%Ongoing (unconditional) | 5.35% | No monthly conditions | $5,000 | No fee |
| 6 |  ANZ PlusANZ Plus Flex Saver |
5.10%Ongoing (unconditional) | 5.10% | No monthly conditions | $5,000 | No fee |
| 7 |  St.GeorgeIncentive Saver |
5.05%Bonus (conditional) | 0.10% | Monthly conditions | $20,000 | No fee |
| 8 |  P&N BankSavvy Saver |
5.05%Bonus (conditional) | 0.20% | Monthly conditions | $100,000 | No fee |
Sorted by maximum advertised rate (an objective sort, not a recommendation). “Max rate” is the highest rate the product can pay; most require monthly conditions or are introductory. Base rate is what you earn if conditions aren’t met / after the intro period. Figures from Open Banking feeds, 24 August 2026 — verify with the bank.
Prefer no strings attached? No-monthly-conditions accounts
The ACCC found ~71% of savers miss their bonus in an average month. These accounts pay their headline rate without monthly deposit or transaction hurdles.
Chasing a launch offer?
New-customer intro rates can beat every ongoing rate — for about four months. See the current time-limited offers and, crucially, what each reverts to when it ends.
How high interest savings accounts work
Bonus vs base rate
Most “high interest” accounts advertise a maximum rate that combines a tiny base rate with a large bonus you only earn when you meet monthly conditions — typically depositing a set amount, making a number of card purchases, and growing your balance. Miss one and you drop to the base rate, often under 0.5%.
Intro rates & balance caps
Some accounts lead with an introductory rate for around four months, then revert. And the bonus usually only applies up to a balance cap (e.g. $100,000) — above that you earn the base rate. We show all of this in the table so the headline number isn’t misleading.