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Best Bank Accounts Australia

In this article, we compare 5 of the best bank accounts in Australia with very high-interest savings account rates!

These high-interest savings accounts can help you reach your financial goals faster. I hope you enjoy this list of Australia’s top 5 savings accounts!


Interest Rates p.a.

Easy to attain


up to 5.10%


up to 5.50%

Up Bank

up to 4.35% p.a.


5.35% p.a. Fixed welcome rate

then 4.75% p.a.

Westpac Life

up to 5.00% p.a.


Interest rate: up to 5.10% p.a. interest rate

Plus score $30 when you sign up using my code, QUEENIE30, and make 5 purchases using your debit card or phone.


Interest rate: up to 5.50% p.a. interest rate:

Up Bank

Interest rate: up to 4.35% p.a. interest rate. Get $7 using my code queeniet when you sign up:


Interest rate: 5.35% p.a. Fixed welcome rate for 4 months on balances up to $250k~ then 4.75% p.a.

Westpac Life

Earn up to 5.00% p.a. variable interest, including a 2.00% p.a. standard variable base rate on your account balance plus a 3.00% p.a. variable bonus rate each month you grow your balance. For bonus interest eligibility, the balance on the last business day of the month must be higher than the last business day of the prior month (excluding interest paid).

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Hey, I’m Queenie.

I’m a licensed personal finance content creator. My mission is to help your money go further and I do this by creating educational videos to help inspire you to create a better financial future for yourself and your community.

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