Savings account
Australian Mutual Bank Essential Saver account
5.50%p.a. from 12 Nov · 5.25% until then
No bonus conditions: the rate is paid every month
34th of 151 savings accounts · market average 4.46%
The RBA raised the cash rate to 4.85% on 4 November. Essential Saver account rises to 5.50% on 12 November, as announced. Until then it pays 5.25%.
What it asks
Nothing each month- Each month
Nothing. The rate is paid every month.
- Who can open it
Anyone
- Balance
The top rate is paid on balances up to $1,000,000.
Rate history
Rise announced for 12 Nov- Essential Saver account
- RBA cash rate
- Market average
November 20261 change
- 12Thu
- 5.25 → 5.50Announced by the bank · rises on this day, 5.25% until then+0.25
October 20261 change
- 1Thu
- 5.00 → 5.25Total rate 5.00% → 5.25% · a day after the RBA rise to 4.60%+0.25
- #22SepSep 2026: ranked 22 of 120
- #50OctOct 2026: ranked 50 of 150
- #52NowNov 2026: ranked 52 of 151
- Top 5%
- Top 10%
- Top 25%
- Top half
- Lower half
In the top 50% for every one of the last 3 months.
- Interest a year
- $2,750
- Each month
- $229
- Against the average (4.46%)
- +$521
On a $50,000 balance. Type yours above; it's kept with your savings preferences.
Today’s rate, then the rate from 12 Nov, as the bank has announced.
An interest bearing online savings account with a tiered interest rate structure.
Notes from savers
to leave a note.
Other Australian Mutual Bank LTD accounts: Starter Saver account 5.75% · Momentum Saver account 5.60%
Pays 5.25% p.a. total as of 9 November 2026, and 5.50% from 12 Nov as announced by the bank. Ranks 34th of 151 savings accounts tracked by BankMate, 1.04 points above the average of 4.46%. The rate last rose on 1 October 2026, a day after the RBA raised the cash rate to 4.60%. From Australian Mutual Bank LTD's Consumer Data Right feed, refreshed nightly. Compare savings accounts ·