Savings rate tracker – Updated June 2026
Australian Savings Rate and Bank Bonus Tracker 2026
A clean tracker for high-interest savings rates, bonus rules and sign-up offers in Australia, built for people who want the best cash setup without reading ten product pages.
Ubank is the best rate-plus-bonus pick right now if you can meet the simple monthly growth rule. Macquarie is the cleaner no-hoops savings account. Bankwest and NAB are worth comparing for intro/bonus rates, while ING can be strong if you reliably hit its stricter monthly conditions.
This page is the directory-style version of my savings content. The reviews are still useful when you want the full product experience, but this tracker is for the immediate question: where does cash earn a competitive rate, what rule do you need to hit, and is there a sign-up offer worth caring about?
The rates below are variable. Banks can change them after RBA decisions or product updates, so treat this as a decision shortlist and confirm the live product page before moving a large balance.
Australian savings rate tracker
| Account | Rate | Type | Balance cap / tier | Main rule | Link |
|---|---|---|---|---|---|
| Ubank Save | 5.10% p.a. | Everyday Bonus Rate | Up to $1,000,000 combined Save balance | Have a Spend account and grow combined Save balance by at least $1/month. | Open Ubank + $30 code Use code AFWLLL7. |
| Ubank Welcome Bonus | 5.85% p.a. | New-customer welcome rate | Up to $1,000,000 combined Save balance | Eligible new customers for the first 4 months, then Everyday Bonus Rate. | Claim Ubank offer |
| ING Savings Maximiser | 5.25% p.a. | Ongoing bonus rate | One nominated account | Linked Orange Everyday, monthly deposit, card purchases and balance-growth rules. | Check ING |
| Macquarie Savings | 5.35% p.a. | First-account welcome rate | First $250,000 for 4 months | First Macquarie savings account only, then stepped ongoing rates. | Check Macquarie |
| Macquarie Savings | 5.00% p.a. | Ongoing variable rate | Up to $2,000,000 | No monthly deposit, card-spend or balance-growth hoop. | Check Macquarie |
| Westpac Life | 5.00% p.a. | Total variable rate | Check product rules | Make a deposit and end the month with a higher balance; new-account cashback may apply. | Check Westpac |
| Bankwest Easy Saver | 5.75% p.a. | 4-month intro rate | Up to $250,000.99 | New Easy Saver introductory rate, then standard variable rate. | Check Bankwest |
| Bankwest Hero Saver | 5.10% p.a. | Hero rate | Up to $250,000.99 | Bonus conditions apply; above that the standard rate applies. | Check Bankwest |
| CommBank NetBank Saver | 5.20% p.a. | 5-month intro rate | New NetBank Saver customers | Intro rate from 15 May 2026; then standard variable rate applies. | Check CommBank |
| NAB Reward Saver | 5.00% p.a. | Total bonus rate | Balances from $1 upward | Make at least one deposit by the second-last banking day and make no withdrawals. | Check NAB |
| NAB iSaver | 5.25% p.a. | 4-month intro rate | Balances up to $20m | Intro rate for eligible customers, then standard variable rate. | Check NAB |
The rate is not the whole answer. A 5.25% account with awkward monthly rules can be worse than a 5.00% account you earn every month without thinking.
Best savings account picks right now
Ubank
Ubank is the best pick if you want the strongest combination of savings rate, simple rule and referral offer. The Everyday Bonus Rate is 5.10% p.a., and eligible new customers may get a 5.85% p.a. welcome rate for 4 months.
Macquarie
Macquarie is the cleaner pick if you hate monthly conditions. The 5.00% p.a. ongoing rate up to $2m is strong because it does not rely on card purchases, deposits or balance-growth hoops.
Bankwest, NAB, CommBank
Intro rates can be useful if you are organised. Just set a reminder before the intro period ends or you can drift onto a much weaker standard rate.
Ubank sign-up offer and referral code
Ubank’s invitee page says new customers can score a $30 offer. To use this setup, open Ubank through the referral page, enter code AFWLLL7, and complete the eligible card-purchase requirement inside the offer window.
Want the Ubank offer?
Use referral code AFWLLL7 during signup, then make the required eligible settled card purchases within your first 30 days.
If you want the deeper product-level call, read my Ubank review, Ubank vs ING comparison and Ubank vs Macquarie comparison.
The conditions that matter most
Grow-balance rules
These are easy until you withdraw money late in the month. Ubank’s $1 growth rule is simpler than many competitors, but you still need to remember it.
No-withdrawal rules
These can be annoying for emergency savings because one necessary withdrawal may cost you the bonus rate for the month.
Intro-rate cliffs
Intro rates are great if you diarise the expiry. They are bad if you forget and leave your cash parked after the promotional period.
Balance caps
Check whether the rate applies to your whole balance, a portion of your balance, or only a small first tier.
What about the Australian Government deposit guarantee?
APRA explains that the Financial Claims Scheme covers eligible deposits of up to $250,000 per account holder per ADI. That matters if you hold large balances, especially across brands that may share a banking licence.
The RBA cash rate target was 4.35% effective 6 May 2026. Savings rates do not automatically move one-for-one with the cash rate, but it is the backdrop for why banks are repricing savings products.
Sources
These are the official/current pages used for the tracker. Product pages can change, so always confirm the live page before opening an account or moving a large balance.
- Ubank Rates
- Ubank Referral
- Ing News
- Macquarie Savings
- Westpac Life
- Bankwest Rates
- Commbank Netbank
- Nab Rates
- Apra Fcs
- Rba Cash Rate
FAQ
What is the best savings account in Australia right now?
For rate plus simplicity, Ubank and Macquarie are the cleanest shortlist. Ubank has the stronger headline rate and referral offer; Macquarie has the cleaner no-hoops structure.
Is the Ubank referral code still worth using?
Yes, if you are already opening Ubank and can complete the purchase requirement. Use code AFWLLL7 and check the live Ubank referral terms.
Should I chase intro savings rates?
Only if you are organised. Intro rates can be excellent for 4-5 months, but set a reminder before the rate drops.
Disclosure: This post contains affiliate or referral links. MoneyHackHQ may receive a referral reward or commission at no extra cost to you. This is general information, not personal financial advice.
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