Saving accounts are accounts maintained by retail financial institutions that pay interest but cannot be used directly as money in the narrow sense of a medium of exchange (for example, by writing a cheque ). These accounts let customers set aside a portion of their liquid assets while earning a monetary return. For the bank, money in a savings account may not be callable immediately and in some jurisdictions, does not incur a reserve requirement, freeing up cash from the bank's vault to be lent out with interest.




![[NSW, VIC, ACT] Open a Zoo Savings Account for Kids (Aged 12 and under), Get $25 Bonus Deposit @ IMB Bank in-Store](https://files.ozbargain.com.au/n/27/826827.jpg?h=73e83652)











![[iOS, Android] Earn 4.90% p.a. on Savings Balance of up to $250,000 @ ANZ Plus](https://files.ozbargain.com.au/n/05/812205.jpg?h=45dc0df2)

![[Teacher] Target Saver Account 5.50% p.a. - $1,000 Deposit Per Month & No Withdrawal (No Balance Limit) @ Teachers Mutual Bank](https://files.ozbargain.com.au/n/77/812077.jpg?h=4f0d934a)

