The short answer
Most high-rate savings accounts pay two rates added together: a base rate, paid every month, and a bonus on top, paid only in months you do what the bank asks. On BankMate's figures at 28 October 2026, 58 of the 102 savings accounts open to adults of any age work this way.
Across those 58, the median total rate is 5.23%. The median base rate, which is all a month earns when the conditions are missed, is 0.10%.
What the banks ask
Each month counts on its own. Meet every condition and the whole month earns the full rate; miss one and that month earns the base rate. The next month starts again. Of the 58 accounts, 44 ask two things each month, 13 ask one and one asks three.
- A deposit. A set amount paid in during the month. Each bank says on its own page what counts as a deposit.
- No withdrawals. One withdrawal in the month, and the month earns the base rate.
- A balance that grows. The balance must end the month higher than it started, by a set amount at some banks: $100 at ING's Savings Booster, $200 at Rabobank's PremiumSaver.
- Card purchases. A number of purchases on the bank's debit card, usually from its everyday account: five a month at ING's Savings Maximiser and Virgin Money's Boost Saver.
The highest rates, with conditions and without
BankMate ranks the accounts with nothing to do each month on their own, beside the highest rates overall.
What a missed month costs
On $50,000, Virgin Money's Boost Saver pays $2,900 a year if its conditions are met every month. Each missed month earns its 0.05% base rate instead of 5.80%, about $240 less.
With one month missed, the Boost Saver is $10 a year ahead of easyStreet's Flex Saver, which asks nothing at 5.30%. With two missed, it's $229 behind.
Where the bonus stops
Most bonus rates stop at a balance: the Boost Saver's at $250,000, ING's Savings Maximiser's at $100,000. Above it, the rest of the balance earns a lower rate. The Learn module Limits and tiers on a rate shows how that works on a real balance.
Learn it a page at a time
The Learn module Bonus rates and their rules works through bonus interest in four short pages, with the figures moving as you change the balance.
Figures from each bank's Open Banking feed, read by BankMate on 28 October 2026. "Open to any adult" leaves out accounts only for younger or older savers.
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.