SORRY BUT NO LONGER UPDATED
The best savings accounts out there (accounts requiring no withdrawals and accounts with a requirement to be under a certain age and honeymoon rates are not included).
3.60% ING Maximiser
3.35% ubank from Oct 1
3.35% BoQ Smart Saver
3.30% Virgin Money Boost Saver
3.20% MyState Bonus Saver
3.15% Rabobank Premium Saver
3.00% ANZ Plus
2.75% Macquarie Bank
People should check with each bank for the latest info.
SORRY BUT NO LONGER UPDATED
Actually it's no longer associated with Whirlpool hasn't been for quite a long time. Editors however are from a large broad number of finance related communities here in Australia including OzBargain.
Anyway the spreadsheet is community driven and we love for people to get involved I've been trying to get new editors on board for the last few months if anyone in here reading this thread is interested please consider filling out the application form available in the spreadsheet.
There's a lot of things we'd love to roll out we want to move to a more traditional leaderboard and not just a giant comparison and we want to add transaction accounts.
Whirlpool BTFO. Ozbargain etc owns you whinging bitches.
https://forums.whirlpool.net.au/thread/360w8x43?p=456#r71528…
It's disappointing to hear that. I've been following this thread for years and even came out of my shell to sign up and become a contributor. At no stage did I officially see that Whirlpool no longer had an association with the spreadsheet. I have always found this thread and it's associated spreadsheet to be more accurate, informative and up-to-date than any of the 'comparison' sites.
I did notice one member taking ownership of the editing over the last 6-12 months and then making a number of layout changes. I became suspicious that something was up when editors were advertised.
The last I heard from moderators on the subject was a comment in the last month for people to have patience about the timeliness of spreadsheet editing as it was done by volunteers.
I followed the link to Ozbargin and notice ads. It is possible that the information contributed here in good faith has been hijacked and monetised? Has the complexity in the current Whirlpool spreadsheet meant that editing has become difficult and therefore sabotaged? I notice quite a simple layout at the other site.
I ask these questions in good faith in an effort to seek some transparency as to what has happened to all the contributions made here over the last 10+ years. It's left a rather sickening feeling.
And where is citi? 2.6 for first 4 months
Honeymoon rates aren't included in this list. Try the other links if you want a list including them.
Ubank will do 2.35% on 1 August.
Upcoming changes
1 August ubank Savings 2.35%
1 August AMP Saver 2.10%
I have been with UBank for a month or so and had trouble on a lot of fronts. Cannot link third party apps/sites, specifically am going through a mortgage broker and cannot link my bank accounts. Also cannot link to money tracking apps and there is no way to do cash deposits. In the many times I've called they have been absolutely hopeless, a lot of them seem to be young kids or people that don't care. When I first set everything up I had to call and had trouble with something and the young kid on the other end told me to turn it off and on and if that didn't work then he pretty much said "im not sure". Had to call again a few days ago about the mortgage brokering third party website I was trying to link too and the chick on the phone told me i'd have to chase it up with that website and completely ignored what I was saying about it being a ubank issue so in short do not recommend and if I could go back a month and choose a diff bank I would. Very disappointed
Suncorp Growth Saver is currently 2.00% (0.35 std + 1.65% bonus), effective from 13 July 2022
Thanks. Fixed
I've noticed some of the savings accounts require 5 eligible transactions per month from a linked transaction account.
Does anyone have a smart way of automating this? I have other credit cards for most of my transactions and if it's left to me, I will probably forget to use the card…
I do this with Paypal. There may be a way of scheduling payments.
Updated. Just comment here if there are any errors
Ubank - From 1 September 2022, you can earn up to 2.85% p.a
Macquarie will do 2.25 from 12th of August
Thanks. Updated
ING 3.10% from Aug 9
AMP 2.60% from Aug 8
Where did you see this ? I'm with them and didn't get any message and can't find any announcement
They sent email
Yeah just got it
Suncorp Growth Saver going up to 2.40%
https://www.suncorpgroup.com.au/news/news/suncorp-bank-new-i…
Rabobank Premium saver is 2.65% from today
MyState Bank Bonus Saver 2.6% from Aug 17
Citibank (aka nab) has an ongoing standard variable rate, currently 2.10%p.a.
2.80% Virgin Money Boost Saver from Aug 17
I'm sure you know of these but it'd be good to include honeymoon rates eg. 3.1% for 4 months @ Macquarie.
Also Macquarie is the only one to have the same base rate across savings and transaction.
For 35s and under BOQ Future Saver is worth including.
Hope the info is helpful to others. Further up the page there are links to sites that have more detailed lists that include many more accounts. To keep the list here simple and easy to keep up to date and I won't be including accounts like that tho. Apologies.
I didn't know people in their late 20s/early 30s are "kids/youth"
Thanks. Fixed.
2.70% ANZ Plus
Interest rates aside, it may be worth checking that the financial institution that you're considering to put your savings in is covered under the Financial Claims Scheme.
List of authorised deposit-taking institutions or ADIs covered
I couldn't find citibank on that list??????
Citibank banking is now part of NAB banking services, and will be covered by NAB.
Virgin is now 3.3%
Thanks. Updated
3.10% BoQ Smart Saver
Maybe it's just me but I find all the hoops you have to jump through to get these interest rates so annoying. Eg. BoQ is $1000 min deposit then 5 'eligible' transactions to trigger the higher rate for the following month (ref: https://www.boq.com.au/personal/banking/savings-and-term-dep…).
At least uBank is only $200 min deposit and the higher rate (2.85%) kicks in immediately.
If only I could find a bank with a good interest rate and does proper 2FA security (so with an app or token code generator not relying SMS).
Rabobank Premium Saver does not rely on SMS, but a physical token generator they provide. For savers who do not mind increasing the balance by $200 at the end of month, it is quite good. During the month, you can withdraw and deposit the funds however you like.
Until you have to deal with their customer assistance on the phone. Useless and incompetent just like many other banks.
Fortunately, over the years (one fairly recently) when I had to deal with them, it was about getting a new device due to low battery - and they answered quickly enough and everything went smoothly. So I guess I haven't had any bad experience yet.
The worst experience in all my years of banking is Virgin Money (issue still ongoing). So you contact them over and over on the same issue, each time a new cust rep would say they would raise it with the relevant department. No one ever got back, and the next time you contacted them again for a status on the issue, a new cust rep would say they would raise it with the relevant department. And this repeats itself.
3.35% ubank from Oct 1
MyState Bank Bonus Saver going to 3.2% Sept 19
2.75% Macquarie Bank from Sept 16
3.60% ING Maximiser from Sept 15
Rabobank Premium Saver is now 3.15%
3.00% ANZ Plus from Sept 16
3.35% BoQ Smart Saver from Sept 20
Useful links to check rates:
Spreadsheet:
https://docs.google.com/spreadsheets/d/145iM6uuFS9m-Rul65--e…
Rate tracker (scraper)
https://savings-rate-tracker.netlify.app/
The data is entered by community users on the Whirlpool forums