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See our picks of the best bonus saver accounts for Australians looking for a savings boost.
Expert savings guide written by Sean Callery and fact checked by Jared Mullane. Updated 14 Nov 2025.
Sponsored
Top Offer for up to $1m
Up to
5.10%
p.a. Welcome Bonus Rate for up to 4 months, then 4.35% p.a. Everyday Bonus Rate.
Ubank Save Account
Earn bonus interest on total savings up to $1M. Sign up with EASY30 and spend to score $30.*
*View Terms
Bonus $30
offer
Top Intro Offer
Up to
5.00%
p.a. for 4 months, then up to 3.45% p.a. variable
Rabobank High Interest Savings Account
No account fees. No min balance. 3.45% ongoing rate after intro period for balances up to $250k.
View More
Top Ongoing Rate Offer
Up to
4.60%
p.a. for 4 months, then ongoing 4.25% p.a. variable
Macquarie Savings Account
Earn interest without monthly criteria. High ongoing rate after intro period. $0 fees.
View Details
We trawled through hundreds of options and narrowed down what we believe are the best bonus savings rates available. These are the highest bonus rates we could find publicly, but they are not product recommendations. Make sure you check the account details carefully, particularly the bonus conditions, and ensure it's right for you before you consider applying.
Bonus interest conditions: You need to have a linked Spend account and grow your combined balance across all your Save accounts (excluding accounts that are linked as offsets at the end of the month) by at least $1 each month, excluding interest earned. If you switch a Save account to an offset account or close it during a month, interest is not payable on that account for that month.
Why we chose it: It's the top bonus rate available on our database right now. This account is somewhat unusual in that it combines intro bonus interest for the first four months (no hoops to jump through) with ongoing bonus (some hoops). For serious savers, growing your balance by at least $1 per month for the ongoing bonus won't be a problem. It also means you have the flexibility to make withdrawals, as long as you replenish them plus a bit on top.
What to watch out for: Ultimately there's not much room for error here. If for any reason you don’t meet the criteria to get the bonus interest, you will earn zero interest after the first four months.
Great for large balances, this account offers a better rate and more flexibility than a Term Deposit.
Up to
4.30%
p.a. variable with bonus interest, or 0.05% p.a. standard variable rate
Suncorp Bank Growth Saver Account
Earn bonus interest with no maximum balance or account keeping fees when you grow your savings by $200 or more each month (excluding interest) and make no more than one withdrawal.
Bonus interest conditions: The variable bonus rate is available for the first four months on balances up to $250,000, for new customers only.
Why we chose it: The bonus interest on this account it's one of the top savings rates available in Australia right now. The relatively high base rate is another plus. It means if you stick around after the bonus period, you will still do okay. On some bonus saver accounts, you’ll earn next to nothing as a base rate.
What to watch out for: The four month intro bonus period will fly by. While the base rate is a decent fallback, if you want to keep earning a market-leading rate of interest you’ll need an exit strategy.
Bonus interest conditions: Variable introductory rate for the first four months for new accounts only. Not available if you’ve had the introductory rate on an Easy Saver Account in the last two years.
Why we chose it: As bonus interest savings accounts go, this is a very decent rate with a generous maximum balance. There’s a lower (but still okay) rate once you tip over $250,001. The ongoing rate, which kicks in after the first four months, is respectable.
What to watch out for: The four-month expiry on the top rate is the obvious caveat here. You’ll also need to have a linked Easy Transaction Account from Bankwest which may be of little value if you only plan to avail of the bonus offer.
Bonus interest conditions: Available on balances up to $100,000 if you also have an Orange Everyday account and each month: deposit at least $1,000 from an external source to an eligible personal ING account in your name, make 5+ settled eligible ING card purchases and grow your Savings Maximiser balance (excluding interest earned).
Why we chose it: This account offers a very high bonus rate of interest (relative to other savings accounts at least) on an ongoing basis. In other words, if you meet the bonus conditions every month, you will earn the top rate for as long as ING is offering it. If you have a longer-term savings plan, this could be appealing.
What to watch out for: The conditions will require some discipline and if you miss out on the bonus rate in a given month, the base rate is low. The max balance of $100,000 will limit the appeal for savers with a high balance (e.g. those saving for a home deposit).
Bonus interest conditions: Bonus interest rate applies when you make a minimum deposit of $200 and no withdrawals within a calendar month (prior to 5pm on the last day of the calendar month).
Why we chose it: It's a decent rate, with a low bar in terms of how much you need to deposit each month to get the bonus interest.
What to watch out for: Not being able to make withdrawals without losing your bonus interest could be a pain. The max balance on the top rate of interest will restrict some savers.
Bonus interest conditions: You'll need to depositing at least $100 each month and make no withdrawals each month.
Why we chose it: The intro rate is decent, as is the ongoing bonus rate. The minimum deposit required for the bonus interest is very achievable.
What to watch out for: This is a pretty complicated account setup and you'll need to be paying attention to get the most from it. In particular, factoring in both an intro rate and an ongoing bonus rate is more effort than some savers will have the appetite for.
Bonus interest conditions: You must grow your balance by at least $200 each month (excluding interest).
Why we chose it: This account strikes a decent balance between high ongoing rate and bonus conditions that won’t require too much effort. Most serious savers will be putting away the $200+ a month necessary to trigger the bonus interest.
What to watch out for: If your savings habits are less predictable (e.g. you save $500 one month and nothing the next), this might not be ideal. The bonus conditions require consistency.
Bonus interest conditions: You'll need to have a linked BCU Access Account and deposit at least $500 into it from an external source every month. You'll also need to make at least five card purchases using the linked Access Account every month.
Why we chose it: This is a very respectable top rate of interest and unusually for a bonus saver, you can make withdrawals and don't need to grow your balance per month in order to get the top rate of interest. This may make it less likely that you'll miss out on the bonus interest.
What to watch out for: The maximum balance for the top rate of interest is relatively low at $100,000. Needing a linked transaction account with BCU and being required to use it regularly to get the bonus interest also may not be ideal.
Bonus interest conditions: Only available on your first savings account, on balances up to $250,000.00 for four months. The welcome rate is variable and may change during the four-month period.
Why we chose it: This is one of the best combinations of bonus offer and ongoing base rate, making it an option worth considering if you have a long-term savings goal.
What to watch out for: The ongoing rate after the bonus period is not bad but it’s still less than you could be earning by moving your cash elsewhere.
Bonus interest conditions: To get the bonus savings rate, you’ll need to deposit $2000+ into your SpendME account and grow the balance of your HomeME savings account each month (not including interest added by ME).
Why we chose it: The top rate here is relatively competitive and the eligibility criteria are achievable if you decide to make ME Bank your main hub for day-to-day banking.
What to watch out for: While this is not a bad offer, it's not best-in-market and the bonus criteria are fairly strict. You'll really need to commit to meeting them consistently.
Bonus interest is a top-up on the base rate offered on some high interest savings accounts for eligible customers. There are two main types of bonus interest you may be able to earn: intro bonus interest and conditional bonus interest.
Available for a limited time for new customers when they open their account initially. Offers are generally for three or four months after which a much lower rate usually kicks in. Not dissimilar to a term deposit in terms of the time-limited nature of the rate available.
Some bonus saver accounts offer ongoing bonus interest if you meet certain conditions. This usually involves needing to deposit a minimum amount each month, not making any withdrawals or growing your balance each month. On other bonus saver accounts, you may also require a linked transaction account and make a minimum number of transactions per month to qualify for the bonus interest on your savings.
There is usually also a limit on what balance you can earn the top bonus interest rate on – generally either up to $100,000 or $250,000 depending on the provider. On youth savings accounts with bonus interest, the max balance is typically lower.
If you are disciplined with how you save and use your money, and are keen to get the highest savings rate you can, a bonus saver is worth considering.
A bonus interest savings account will generally give you access to higher rates than you would with a standard savings account. This could add up to hundreds of dollars per year in interest for an average saver in Australia.
The main drawback is that you won’t simply be able to deposit your money and sit back. You’ll need to be confident that you can meet the bonus conditions on an ongoing basis. Or if it’s an intro rate, you’ll need to be prepared to move your money again if you want to stay on a market-leading rate.
With an ongoing base rate of interest, you won’t need to worry about jumping through hoops. But chances are you won’t be earning the absolutely top rate available. Ultimately it will come down to what lengths you are prepared to go to earn the bonus interest. The criteria are generally relatively achievable, but not everyone will have the discipline to take full advantage.
Sean Callery, Editor
"Back when I was saving for a house deposit, I had a sizable balance in my bonus saver account. To earn the bonus interest, I wasn't allowed to make any withdrawals. That was all well and good, up until the time I had a fat-fingered moment while using the mobile banking app and accidentally transferred money out of the wrong account. That one withdrawal cost me around $300 in bonus interest for that month. I pleaded with my bank to overlook the error and honour the bonus interest, but to no avail. An expensive lesson learned. These accounts can be great, but the margin for error is usually fine."
Sean Callery, Editor
Up to
5.10%
p.a. Welcome Bonus Rate for 4 months, then 4.35% p.a. Everyday Bonus Rate
Ubank Save Account
Earn bonus interest rate on total savings up to $1M. Welcome Bonus Rate payable for up to 4 months and for new customers only. Bonus criteria apply. Sign up with EASY30 and make 5 eligible card purchases in your first 30 days to score $30. For offer terms see the App Store. Rates subject to change. For full rate info see ubank.com.au. Products issued by Ubank, part of NAB. Info is general. Consider if it’s right for you. TMDs at ubank.com.au/tmd.
Up to
5.00%
p.a. for 4 months, then up to 3.45% p.a. variable
Rabobank High Interest Savings Account
Earn a bonus variable rate for the first 4 months on balances up to $250,000, with a high ongoing rate thereafter. No account keeping fees or min balance, with interest paid monthly. Intro rate for new customers only.
Up to
4.75%
p.a. variable with bonus interest on balances up to $100k
ING Savings Maximiser
Earn bonus interest when you also hold an Orange Everyday and each month meet the eligibility criteria and grow your nominated Savings Maximiser Balance (excluding interest). Available on one account.
Up to
4.75%
p.a. variable when monthly criteria are met
IMB Bank Reward Saver Kickstart Account
Available for 13-17 year olds and students, trainees or apprentices up to 30 years on balances up to $100k. Deposit $20 per month and make no withdrawals to qualify. Plus, earn a bonus $100 when you open an account by 21 Nov 2025 and hold a minimum balance of $200 by 30 Nov 2025. See website for T&Cs
Bonus $100
Offer
Up to
4.60%
p.a. for 4 months, then ongoing 4.25% p.a. variable
Macquarie Savings Account
Earn interest without needing to meet any monthly criteria. Get a bonus variable welcome rate for 4 months up to $250k on your first account, with a great variable ongoing rate on balances up to $1m thereafter.
Up to
4.30%
p.a. variable with bonus interest, or 0.05% p.a. standard variable rate
Suncorp Bank Growth Saver Account
Earn bonus interest with no maximum balance or account keeping fees when you grow your savings by $200 or more each month (excluding interest) and make no more than one withdrawal.
Sean Callery is the Editor of Money.com.au. He has over 15 years of international experience. He is qualified with a Certificate IV in Finance and Mortgage Broking (FNS40821) and is compliant to provide general advice in Tier 1 General Insurance (RG 146) products.
Jared Mullane is a finance writer with more than eight years of experience at some of Australia’s biggest finance and consumer brands. His areas of expertise include energy, home loans, personal finance and insurance. Jared is qualified with a Certificate IV in Finance and Mortgage Broking (FNS40821).
Money.com.au has strict rules and policies in place that ensure we can provide accurate and reliable information to consumers about financial products, without it being influenced by our commercial arrangements. Read more about how we make money and avoid conflicts.
Our bonus savings account comparison is based on products analysed by Money.com.au from banks covered by the Government’s Financial Claims Scheme. While we have assessed a wide range of products in the market, we do not guarantee that all products in the market have been considered.
Check with the providers for full current account details, including rates, fees, eligibility and terms and conditions – and seek financial advice if necessary – to ensure the product is right for you.
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