The short answer
The Reserve Bank raised the cash rate 0.25 to 4.85% on Tuesday 3 November 2026. By Thursday, three of the big four had said what it means for savers:
- CommBank lifts GoalSaver to 5.50% from 13 November.
- Westpac lifts Westpac Life to 5.50%, and to 6.20% with Spend&Save for 18 to 40 year olds, from 13 November.
- ANZ lifts the ANZ Plus Growth Saver to 5.60% from 13 November, and is still reviewing its other savings accounts.
- NAB hadn't announced a savings change by Friday afternoon, 6 November.
ING, Macquarie, ubank and Up have all announced a rise of the full 0.25 too.
Bank by bank
Each bank's main savings account, its rate now and the rate it has announced. Each rate includes the bonus, which is paid in months the account's conditions are met.
- Account
- Westpac Life
- Now
- 5.25%
- New rate
- 5.50% (6.20% with Spend&Save, 18–40)
- From
- 13 Nov
- Account
- ANZ Plus Growth Saver
- Now
- 5.35%
- New rate
- 5.60%
- From
- 13 Nov
- Account
- ANZ Progress Saver
- Now
- 4.00%
- New rate
- Not announced
- From
- Under review
- Account
- NAB Reward Saver
- Now
- 5.25%
- New rate
- Not announced
- From
- —
- Account
- Savings Maximiser
- Now
- 5.75%
- New rate
- 6.00%
- From
- 13 Nov
- Account
- Macquarie Savings Account
- Now
- 5.25%
- New rate
- 5.50%
- From
- 19 Nov
- Account
- Save account
- Now
- 5.35%
- New rate
- 5.60%
- From
- 10 Nov
| Bank | Account | Now | New rate | From | Page |
|---|---|---|---|---|---|
CommBank | GoalSaver | 5.25% | 5.50% | 13 Nov | View bank |
Westpac | Westpac Life | 5.25% | 5.50% (6.20% with Spend&Save, 18–40) | 13 Nov | View bank |
ANZ Plus | ANZ Plus Growth Saver | 5.35% | 5.60% | 13 Nov | View bank |
ANZ | ANZ Progress Saver | 4.00% | Not announced | Under review | View bank |
NAB | NAB Reward Saver | 5.25% | Not announced | — | View bank |
ING | Savings Maximiser | 5.75% | 6.00% | 13 Nov | View bank |
Macquarie | Macquarie Savings Account | 5.25% | 5.50% | 19 Nov | View bank |
ubank | Save account | 5.35% | 5.60% | 10 Nov | View bank |
Up | Up Saver | 5.60% | 5.85% | 12 Nov | View bank |
Every other bank, with its old and new rates and the day each starts, is on BankMate's savings rate changes page, updated each morning.
What the banks said
“Following the Reserve Bank of Australia’s (RBA) cash rate decision, we will make a variety of increases across select savings products, effective 13 November 2026.”
“With many customers focused on building their savings and getting more from their everyday finances, today's change will also deliver higher returns for our ANZ Plus Growth Saver customers.”
“Following the Reserve Bank of Australia's decision to increase the official cash rate, Westpac has announced changes to our deposit account interest rates.”
“We're again waiting more than two weeks before this latest increase takes effect.”
NAB announced its home loan rise on 4 November and said of savers only that it "regularly reviews its savings and deposit rates" (NAB). ANZ's release ended: "ANZ continues to review other deposit rates."
Ten days, at every rise this year
The big banks keep to a timetable. Each rise BankMate has tracked this year was announced on a Tuesday, and CommBank, Westpac, ANZ Plus and ING started their new savings rates on the Friday of the following week, 10 days later. November's rise is on the same timetable: Friday 13 November.
- March
- 10
- May
- 10
- September
- 10
- November
- 10
- March
- 10
- May
- 10
- September
- 10
- November
- 10
- March
- 10
- May
- 10
- September
- 10
- November
- 10
- March
- 10
- May
- 10
- September
- 10
- November
- 10
- March
- 11
- May
- 11
- September
- 10
- November
- Not yet
- March
- 8
- May
- 8
- September
- 7
- November
- 7
- March
- 15
- May
- 17
- September
- 9
- November
- 9
- March
- 16
- May
- 17
- September
- 16
- November
- 16
For March, May and September, the days run to when each bank's new rate took effect; for November, to the start date each bank has announced. Of the banks that passed September's rise on to savers, half had done so within 14 days: CommBank, Westpac, ANZ Plus and ING moved sooner than most banks.
The rate a missed month pays
CommBank's, Westpac's, ANZ's and ING's rises go on the bonus rate. The rate paid in a month the conditions aren't met, the standard or base rate, stays where it was.
“Westpac has confirmed it will increase the headline rates on its bonus saver accounts by the full 0.25 percentage points, which is fantastic. However, the base rates on these accounts are once again staying put, which means anyone who doesn’t meet the monthly conditions will miss out on the hike.”
“Meanwhile, NAB is, at this stage, keeping its savings customers guessing as to whether their hard earned cash will get an interest rate bump after this fifth RBA hike.”
What each bank asks for its bonus differs: GoalSaver and Westpac Life ask for a deposit and a balance that ends the month higher than it started; Westpac's Spend&Save rate also asks for 20 card purchases; ING's Savings Maximiser for a deposit of at least $1,000, 5 card purchases and a higher balance. Each account's page lists its conditions. The article How bonus interest works shows what a missed month costs.
What 0.25 is worth
When the rest are known
BankMate checks each bank's announcements every day after a decision. The November 2026 decision page shows every bank and lender, day by day, as the new rates start; the Board's next decision is on 8 December.
Rates from each bank's own announcement: CommBank, Westpac, ANZ, ING, Macquarie, ubank's and Up's notices to customers, read 3 to 6 November 2026. Days for March, May and September are from the rates each bank published, as BankMate checked them each night. NAB's and ANZ's statements from their 4 November releases; Canstar's from its 4 November report.
Factual comparison, not financial advice. BankMate doesn’t consider your objectives, financial situation or needs, and isn’t licensed to give advice. Read the provider’s PDS, target market determination or key facts sheet before deciding.