We currently don't have that product, but here are others to consider:
How we picked theseThe Finder Score is a simple score out of 10. The higher a savings account's score, the better we think it is for the average customer.
We score each savings account in our database of hundreds based on a data-driven methodology with 2 main criteria: Does the account offer a high interest rate? And is it easy for savers to actually earn that rate?
An online savings account is an account that you can open and manage online, without needing to go into a bank branch or physical store. Pretty much all savings accounts these days can be managed entirely online. You can access your savings balance 24/7 via Internet banking or the mobile banking app provided by the bank.
Online savings accounts are designed to help you save money, offering interest on your balance when you keep it in the account. Most accounts will have some monthly conditions to meet to earn a higher interest rate, for example a monthly deposit goal.
You can deposit money into your savings account online by transferring it from your everyday bank account. You can also set up direct debits into your savings account if you want to, for example your pay.
Online savings accounts do not come with a debit card, so the only way to access your money is by transferring it to your transaction account using Internet banking or mobile banking. Once you've moved the money to your bank account you can then make purchases using your debit card, shop online or withdraw cash at ATMs.
It's a good idea to link a bank account to your savings account with the same bank. This way, you can easily see both accounts side by side in your mobile banking app, and easily move money between accounts.
Online accounts usually don't attract any transfer fees or monthly account-keeping fees, so they offer an inexpensive way to build savings. However, you might be charged account keeping fees on your linked transaction account so be sure to watch out for this.
Online savings accounts have variable interest rates, meaning they can change at any time with little or no notice. They usually offer a standard interest rate (which you'll earn each month as a minimum), and a bonus interest rate (which you'll earn on top of the standard rate when you meet the conditions).
Interest on the balance is calculated daily, and deposited into the account at the beginning of the following month. You'll also benefit from compound interest - meaning you'll earn interest on your interest the following month.
There are a few ways to deposit money into your account:
In the latest Finder Awards for 2025, Ubank Save was named the best savings account followed by ING Savings Maximiser and Rabobank Premium Saver as runners up.
Pros & cons
Why we like it
Highly commendedFor more options, see Finder's best savings account picks for June 2025.
Many online banks make it easy to transfer money to and from your linked bank account. However, some will only let you link a bank account from the same institution. This means that you might have to open a new bank account just for your online savings account.
One of the best aspects of an online savings account is that you can usually access your money whenever you like. While the accounts are all accessible online via a web browser, most banks make it even more convenient with mobile banking apps. These allow you to monitor your savings activity even when you are on the go.
Your deposit up to $250,000 in a savings account with an Australian bank is guaranteed by the Australian Government, under the bank guarantee scheme.
High interest savings accounts usually offer a higher interest rate than standard savings accounts, helping your balance grow. Some of these accounts offer bonus interest each month you meet the account conditions.
Generally, an online savings account does not have any monthly account-keeping fees or transaction fees.
Although you won’t have any fees on the savings account, there may be fees associated with the linked bank account used to manage it.
Funds transfers may not be instant if they are coming from a separate financial institution.
Some banks are completely online (like ING and Ubank) and have no bank branches available, and other banks are also reducing their branch numbers. This could be an issue if you do a lot of your banking in a branch.
Want to know whether you can earn more interest with a savings account or a term deposit? Our savings account vs term deposit calculator can help.
The First Option Bank Save Account allows you to earn 4.85% p.a. for 4 months with zero conditions to meet.
Would you be better off with a high-interest option instead? I've crunched the numbers.
Here's an up-to-date list of all savings account interest rate cuts so far, plus how it will affect your savings balance.
Here are a few different ways to save money automatically without lifting a finger, including using round up savings apps and tools.
Kickstart your savings plan with a high interest savings account.
See some of the best savings accounts in Australia right now with high interest rates and no fees, plus tips to help you find the best savings account for you.
Our range of simple calculators can help you plan your finances and compare potential interest earned.
How you can get your money back just for spending.
Hi,
Please send me the newsletter.
please send me updated news of coronavirus.
Thanks
Shabnam
Hi Shabnam,
Thank you for reaching out to Finder.
We’re glad that you are interested in the Finder newsletter! A great way to sign up is to check out our guide on which the process is just as quick and easy as it can be.
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Best,
May
Which bank will give me interest on an account with a large amount that I simply want access to at any time?
Hi Christy,
Thanks for getting in touch! A high interest-earning savings account will be able to give you a bonus interest rate when you meet their bonus criteria such as no withdrawals or minimum deposits for a certain period of time. You can participate in this bonus criteria otherwise you are set to earn the standard variable rate as offered by the banks.
It would be a good idea to compare your options on the page above, starting by entering the amount you wish to deposit and period of commitment on the calculator found on the table above. Hit calculate and it will show the interest earned per bank. Note that the longer you keep the money in the bank, the more interest you earn. You can also click the compare box beside each bank option and compare up to 4 options side by side for easier comparison. If you need further help, “how to find the best online savings account” is also stated on the page.
As a friendly reminder, review the eligibility criteria, fees, interest rates, and terms & conditions of this account before applying. You may also contact the bank should you have any questions about their product.
Hope this helps!
Best,
Nikki
Why don’t you have Ubank as a comparable option?
Is there some downside with Ubank that I haven’t noticed?
Hi Bev,
Thanks for reaching out.
The offers compared on this page are chosen from a range of products Finder has access to track details from and is not representative of all the products available in the market.
Moreover, it doesn’t mean that products not featured on this page are subpar to those listed here neither does the product arrangements signify order or ranking. That said, you may check UBank USaver’s rates and features for further details.
Cheers,
Liezl
I applied for iSaver account. I have account number,there is no answer for my application.
Hi Laya,
Thanks for your question.
During your application for the NAB iSaver, you’ll need to link it to an everyday bank account.
If you’ve opened your account online, you’ll be able to select the option of having your ID verified electronically.
Otherwise, you’ll need to visit a NAB branch to complete the standard 100-point ID check.