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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 26 May 2026.
Sponsored
Top Intro Offer
Earn up to
5.90%
p.a. for 4 months, then up to 4.00% p.a. variable
Rabobank High Interest Savings Account
No account fees. No min balance. 4.00% ongoing rate after intro period for balances up to $250k.
View More
Top Offer for up to $1m
Earn up to
5.85%
p.a. Welcome Bonus Rate for up to 4 months, then 5.10% 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
Popular Choice
Earn up to
5.85%
p.a. for 4 months (on balances up to $500k), then up to 4.80% p.a. for balances up to $2m.
ING Savings Accelerator
No monthly deposit requirements, no bonus conditions and no fuss. Earn a great ongoing rate on balances up to $2m.
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 on accounts with no age restrictions, 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: 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 is 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: A fairly straightforward introductory rate with no minimum deposit requirements, fees or lock-in terms. You'll get the top bonus interest rate for the first four months on balances up to $500,000.
Why we chose it: It's the top base rate available on our database right now. It also has a pretty good bonus rate too, with no conditions to qualify. The competitive base rate gives it a slight edge over UBank who also have a generous bonus intro offer.
What to watch out for: Keep in mind that the bonus interest only lasts for the first four months, then it will revert to the base rate which is still a fairly decent offer.
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.
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: The bonus rate is only applicable during the first three months and is only available on eligible deposits that are transferred from another bank.
Why we chose it: This has pretty good rates compared to other offers. The bonus rate is almost double the base rate, and the conditions to be eligible are relatively easy.
What to watch out for: The three month introductory period will go by quickly. Even though the base rate is a decent fall-back, you may like to consider some better long-term offers.
Bonus interest conditions: The bonus interest is available for members who open a new Netsave variable interest rate account.
Why we chose it: This account allows savers to access a fairly high bonus rate with minimal effort. The interest rate stays the same regardless of how high the balance is, which could be beneficial for people with large savings.
What to watch out for: The base interest rate is fairly low, so you will be earning very little interest after the four-month welcoming period.
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: You'll need to deposit at least $200 and make no withdrawals each month.
Why we chose it: For lower account balances, this is a pretty good bonus rate and the minimum monthly deposit requirement is modest. It may be suitable for small-mid size savings goals, like travel or a small home reno.
What to watch out for: The maximum balance is low by bonus saver standards, as is the base interest rate if you miss out on the bonus interest.
Bonus interest conditions: The bonus rate applies on eligible balances for the first four months. You don't need to jump though any hoops.
Why we chose it: This is one of the better rates available, with a relatively small gap between the base and bonus rate. In other words, when the bonus rate expires, the interest you'll be earning won't fall off a cliff.
What to watch out for: The max balance of $100,000 for the top bonus rate is relatively modest by today's standards. The rate that applies to any savings above $100k is pretty ordinary.
Bonus interest conditions: Must deposit $200 into the account each month and is only available on balances up to 250,000.
Why we chose it: Compared to other high interest savings accounts, this offer has a fairly high bonus interest rate and an okay base rate. If your looking for something relatively easy, this is another good low-effort savings account.
What to watch out for: It could be worthwhile setting up a monthly automated payment to ensure that you don't miss out on the bonus interest. The offer only applies to balances up to $250,000.
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.
Research* from Money.com.au shows the majority of Australians with a savings account (56%) fail to earn the bonus interest on their savings every month, potentially causing them to miss out on a significant amount of interest.
Among them, 29% earn their bonus rate in most months of the year but not all (7–11 months), while 13% only qualify for less than half the year (fewer than six months). A further 14% admit they don’t know the bonus rate eligibility criteria for their savings account.
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.
To put into perspective the margins involved, the table below shows the estimated interest earned over a 12-month period with a hypothetical ongoing savings rate and bonus savings rate account. In this example, missing the bonus rate more than once would mean earning less interest over 12 months compared to the account with a lower rate and no conditions.
Scenario | Initial savings amount |
|---|---|
Bonus savings account (5.65% max / 0.10% min) | $10,000 |
Ongoing savings rate (5.10%) | $10,000 |
Scenario | Bonus interest earned 12/12 months |
Bonus savings account (5.65% max / 0.10% min) | $579.86 |
Ongoing savings rate (5.10%) | $522.09 |
Scenario | Bonus interest earned 11/12 months |
Bonus savings account (5.65% max / 0.10% min) | $531.16 |
Ongoing savings rate (5.10%) | $522.09 |
Scenario | Bonus interest earned 10/12 months |
Bonus savings account (5.65% max / 0.10% min) | $482.68 |
Ongoing savings rate (5.10%) | $522.09 |
Scenario | Bonus interest earned 9/12 months |
Bonus savings account (5.65% max / 0.10% min) | $434.43 |
Ongoing savings rate (5.10%) | $522.09 |
| Scenario | Bonus savings account (5.65% max / 0.10% min) | Ongoing savings rate (5.10%) |
|---|---|---|
Initial savings amount | $10,000 | $10,000 |
Bonus interest earned 12/12 months | $579.86 | $522.09 |
Bonus interest earned 11/12 months | $531.16 | $522.09 |
Bonus interest earned 10/12 months | $482.68 | $522.09 |
Bonus interest earned 9/12 months | $434.43 | $522.09 |
New research from Money.com.au reveals that 46% of Australians listed saving for a holiday among their top savings goals for 2026, followed by saving for retirement (35%) and saving to buy a home (26%).
Fewer Australians are prioritising investing (23%), paying off their mortgage sooner (13%), home renovations (10%) or saving for children (5%).
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
We've assembled some of the best to help you save.
Earn up to
5.90%
p.a. for 4 months, then up to 4.00% 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.
Earn up to
5.85%
p.a. Welcome Bonus Rate for 4 months, then 5.10% 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.
Earn up to
5.15%
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. See website for T&Cs
Earn up to
5.10%
p.a. variable, with no account growth requirements
AMP Bank GO Save
Enjoy a great ongoing interest rate with no deposit or growth requirements, no withdrawal limits and no monthly account keeping fees, it's savings with none of the regular catches. Tiered variable interest rates apply
Earn
5.05%
p.a. standard variable interest rate on balances up to $3m
Easy Street Flex Saver Account
Earn a top rate with no hoops to jump through, including no minimum regular deposit and no transfer fees to move your money around. Plus no interest or fee penalties when you withdraw your money.
Earn up to
4.80%
p.a. variable interest rate on balances up to $250k
Judo Bank SMSF Savings Account
Earn bonus interest when you deposit $500 or more each calendar month. Take advantage of unlimited withdrawals with no interest penalty. Enjoy competitive returns on cash holdings up to $5m.
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 a decade 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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