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It’s important for savers to keep an eye on the latest rates to ensure they’re getting the most out of their savings accounts. With rates up to 5.65%, we round up the best high interest savings accounts on our database. A high interest savings account, as the name suggests, comes with a high interest rate, which means you can potentially earn more money through interest payments on your savings. In Australia, financial institutions such as banks, credit unions and other deposit-taking institutions (DPIs) generally offer a transaction or savings account, or a combination of the two.
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The plan to impose a retrospective tax on foreign investors is a politically opportunistic attempt to bail out the budget that sets a dangerous precedent. Shareholders delivered a substantial protest vote against the oil and gas producer’s executive pay report at the AGM, pointing to continuing discontent. A plan to make people pay out of pocket, rather than from their super fund, for advice about switching funds will do more harm than good, Hub24 and Insignia say.
Prince Harry joined Movember supporters in Melbourne to discuss the challenges of fatherhood, as he backed the men’s charity’s calls for more mental health help. The Business Council of Australia and gas giants say evidence from the UK shows investment and exploration will drop if a gas tax is included in the budget. In seeking to be seen to be helping the younger generation buy property, the government could end up making an already arcane tax system more complex and distorted.
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Based on bonus savings accounts on Canstar’s database, with rates based on a deposit of $10,000. Canstar researches and rates over 200 savings accounts—find out which ones received an Outstanding Value Award. The table below shows high interest savings accounts with the highest ongoing base rates. Based on savings accounts on Canstar’s database, with rates based on a deposit of $10,000. These high interest savings accounts come with introductory rates which are available for a limited time only.
A savings account can generally be applied for and opened like any other bank account. These terms and conditions are often put in place to encourage you to regularly deposit into your savings account and withdraw less, which typically results in more interest being earned. Based on accounts with an introductory promotional rate available for a limited time. You can get the confidence of tax agent support and checking, with online convenience, at Etax – the leading online tax experts in Australia. Explore our contact information and get support with a wide range of products, services and topics. Use our personal banking calculators and tools to help you choose the right product and view the latest interest rates and fees for our personal banking products.
This was the second hike in a row in 2026, and when the RBA moves, savings account providers typically follow suit, lifting their savings rates to match. Determining what kind of saver you are may give you guidance into whether or not having multiple savings accounts will work for you. That being said, having multiple accounts on the go means more admin work for yourself, especially if one of the accounts has bonus interest rate conditions. Generally speaking, there’s no limit on the amount of savings accounts you can open.
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