Best AUD Savings Accounts in 2026 2026

Australia has some of the highest interest rates among developed economies. The RBA maintained elevated rates through 2024–2025, translating into savings accounts yielding 4.5%–5% APY. Australian banks offer competitive terms for AUD account holders, backed by the government guarantee (APRA) up to AU$250,000.

Products compared

5.00%

Best APY available

4.69%

Average APY

#	Entity	Product	APY	Score	Risk	Liquidity	View
1	ING Australia	ING — Savings Maximiser (AU)	5.00%	8.4	Low	Instant	View →
2	Macquarie Bank	Savings Account	4.75%	8.4	Low	Instant	View →
3	ANZ	ANZ Plus — Save (AU)	4.50%	8.3	Low	Instant	View →
4	Commonwealth Bank	CommBank — GoalSaver (AU)	4.50%	8.3	Low	Instant	View →

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Frequently asked questions

Can I open an AUD savings account from outside Australia?

Generally not directly — the listed Australian banks require Australian residency. However, you can access AUD yield through Australian bond ETFs, structured products or brokers offering multi-currency balances. This comparison is primarily useful for Australian residents or investors with AUD exposure.

What is the deposit guarantee in Australia?

The Australian government guarantees deposits up to AU$250,000 per person per authorised deposit-taking institution, through the Financial Claims Scheme (FCS) managed by APRA — equivalent to the European DGS.

Why are Australian savings rates higher than in Europe?

The RBA raised rates aggressively in 2022–2023 to control inflation and kept them elevated longer than the ECB. This translates directly into higher rates on Australian savings accounts and deposits.