Savings reportAs of 31 May 2026May 2026
The top rate rose to 5.75%. The average rose to 4.73%.
RBA cash rate 4.35% · raised on 6 May · the average account pays 0.38 above itHighest rates
As of 31 May 2026- 3=Rabobank PremiumSaver5.40%Go to site
- 5=BOQ Future Saver AccountAges 18 to 35Ages 18 to 355.35%Go to site
- 5=Great Southern Bank Goal SaverAges 18 to 24Ages 18 to 245.35%Go to site
- 5=Judo Bank Personal Savings Account5.35%Go to site
- 5=Up Up Saver5.35%Go to site
- 9First Option Bank KIDS BONUS SAVER17 and under17 and under5.30%Go to site
- 10=Great Southern Bank Home Saver5.25%Go to site
Total rate is base plus bonus, with every monthly condition met. 62 of 79 accounts ask something of you each month, or have an age limit.
Since tracking began
Month ends, February to May- Today, across the 76 tracked all month
- Highest
- 5.75%
- Average
- 4.73%
- Median
- 5.00%
- Paying 5% or more
- 41 of 76
- RBA cash rate
- 4.35%
The average line follows rate changes only: each month is compared on the accounts tracked at both its start and its end, so it never moves because we started tracking more accounts.
Rate changes in May
Since 1 MayProductWhenRateChangePlace
- Australian Military Bank Online Saver4.35 → 4.85 · 1 June · 57th → 43rd1 June4.35 → 4.85+0.5057th → 43rd
- Bank First Bonus Saver Account4.35 → 4.75 · 2 May · 57th → 49th2 May4.35 → 4.75+0.4057th → 49th
- Bank First First Home Bonus Saver Account4.40 → 4.80 · 2 May · 54th → 47th2 May4.40 → 4.80+0.4054th → 47th
- ANZ Plus ANZ Plus Growth Saver4.75 → 5.10 · 15 May · 35th → 19th15 May4.75 → 5.10+0.3535th → 19th
- ANZ Plus ANZ Plus Flex Saver4.75 → 5.10 · 15 May · 35th → 19th15 May4.75 → 5.10+0.3535th → 19th
- NAB NAB Reward Saver4.65 → 5.00 · 16 May · 46th → 33rd16 May4.65 → 5.00+0.3546th → 33rd
- Suncorp Growth Saver Account4.80 → 5.10 · 29 May · 31st → 19th29 May4.80 → 5.10+0.3031st → 19th
- Southern Cross Credit Union LITTLE STAR SAVER4.90 → 5.20 · 1 June · 19th → 13th1 June4.90 → 5.20+0.3019th → 13th
- Rabobank PremiumSaver5.15 → 5.40 · 13 May · 7th → 3rd13 May5.15 → 5.40+0.257th → 3rd
- easyStreet Flex Saver4.80 → 5.05 · 13 May · 31st → 30th13 May4.80 → 5.05+0.2531st → 30th
- Commonwealth Bank Youthsaver Account4.80 → 5.05 · 15 May · 31st → 30th15 May4.80 → 5.05+0.2531st → 30th
- Westpac Bump Savings4.80 → 5.05 · 15 May · 31st → 30th15 May4.80 → 5.05+0.2531st → 30th
- Beyond Bank Purple Bonus Saver4.40 → 4.65 · 19 May · 54th → 54th19 May4.40 → 4.65+0.2554th → 54th
- Great Southern Bank Future Saver4.60 → 4.85 · 22 May · 47th → 43rd22 May4.60 → 4.85+0.2547th → 43rd
- Credit Union SA Bonus Savings Account3.25 → 3.50 · 13 May · 72nd → 71st13 May3.25 → 3.50+0.2572nd → 71st
- MyState Hello Saver account4.75 → 5.00 · 14 May · 35th → 33rd14 May4.75 → 5.00+0.2535th → 33rd
- Summerland Bank Bonus Saver4.50 → 4.75 · 15 May · 51st → 49th15 May4.50 → 4.75+0.2551st → 49th
- Police Bank U30 SUPER CHARGE Account5.00 → 5.25 · 15 May · 14th → 10th15 May5.00 → 5.25+0.2514th → 10th
- Westpac Westpac Life4.75 → 5.00 · 15 May · 35th → 33rd15 May4.75 → 5.00+0.2535th → 33rd
- Greater Bank Life Saver5.00 → 5.25 · 15 May · 14th → 10th15 May5.00 → 5.25+0.2514th → 10th
- Newcastle Permanent Smart Saver Account (under 25)5.50 → 5.75 · 15 May · 1st → 1st15 May5.50 → 5.75+0.251st → 1st
- Commonwealth Bank GoalSaver4.75 → 5.00 · 15 May · 35th → 33rd15 May4.75 → 5.00+0.2535th → 33rd
- Newcastle Permanent Smart Saver Account4.25 → 4.50 · 15 May · 60th → 57th15 May4.25 → 4.50+0.2560th → 57th
- Bankwest Bankwest Easy Saver4.75 → 5.00 · 16 May · 35th → 33rd16 May4.75 → 5.00+0.2535th → 33rd
- Defence Bank Max E Saver4.95 → 5.20 · 20 May · 18th → 13th20 May4.95 → 5.20+0.2518th → 13th
- Defence Bank Kids Club Savings4.75 → 5.00 · 20 May · 35th → 33rd20 May4.75 → 5.00+0.2535th → 33rd
- Defence Bank Teen Saver4.75 → 5.00 · 20 May · 35th → 33rd20 May4.75 → 5.00+0.2535th → 33rd
- Great Southern Bank Goal Saver5.10 → 5.35 · 22 May · 9th → 5th22 May5.10 → 5.35+0.259th → 5th
- Up Up Saver5.10 → 5.35 · 22 May · 9th → 5th22 May5.10 → 5.35+0.259th → 5th
- Macquarie Macquarie Savings Account4.75 → 5.00 · 22 May · 35th → 33rd22 May4.75 → 5.00+0.2535th → 33rd
- Great Southern Bank Home Saver5.00 → 5.25 · 22 May · 14th → 10th22 May5.00 → 5.25+0.2514th → 10th
- Bendigo Bendigo Reward Saver4.50 → 4.75 · 22 May · 51st → 49th22 May4.50 → 4.75+0.2551st → 49th
- Great Southern Bank Youth eSaver5.25 → 5.50 · 22 May · 6th → 2nd22 May5.25 → 5.50+0.256th → 2nd
- IMB Bank Zoo Account4.25 → 4.50 · 29 May · 60th → 57th29 May4.25 → 4.50+0.2560th → 57th
- ANZ ANZ Progress Saver3.50 → 3.75 · 15 May · 69th → 68th15 May3.50 → 3.75+0.2569th → 68th
- Bendigo Bendigo PiggySaver3.30 → 3.55 · 22 May · 70th → 70th22 May3.30 → 3.55+0.2570th → 70th
- BankSA Incentive Saver4.90 → 5.15 · 15 May · 19th → 15th15 May4.90 → 5.15+0.2519th → 15th
- ubank Save account4.85 → 5.10 · 13 May · 24th → 19th13 May4.85 → 5.10+0.2524th → 19th
- AMP GO AMP Bank GO Save4.85 → 5.10 · 13 May · 24th → 19th13 May4.85 → 5.10+0.2524th → 19th
- Bank of Melbourne Incentive Saver4.90 → 5.15 · 15 May · 19th → 15th15 May4.90 → 5.15+0.2519th → 15th
- St George Incentive Saver4.90 → 5.15 · 15 May · 19th → 15th15 May4.90 → 5.15+0.2519th → 15th
- Queensland Country Bank Bonus Saver4.10 → 4.35 · 20 May · 64th → 61st20 May4.10 → 4.35+0.2564th → 61st
- Queensland Country Bank Student Money Saver4.10 → 4.35 · 20 May · 64th → 61st20 May4.10 → 4.35+0.2564th → 61st
- Bank Australia Bonus Saver4.85 → 5.10 · 21 May · 24th → 19th21 May4.85 → 5.10+0.2524th → 19th
- Bank Australia mySaver4.85 → 5.10 · 21 May · 24th → 19th21 May4.85 → 5.10+0.2524th → 19th
- Qudos Bank Bonus Saver4.85 → 5.10 · 21 May · 24th → 19th21 May4.85 → 5.10+0.2524th → 19th
- ING Savings Accelerator4.60 → 4.80 · 15 May · 47th → 47th15 May4.60 → 4.80+0.2047th → 47th
- IMB Bank Reward Saver Account3.00 → 3.20 · 29 May · 73rd → 73rd29 May3.00 → 3.20+0.2073rd → 73rd
- Commonwealth Bank NetBank Saver1.95 → 2.10 · 15 May · 76th → 76th15 May1.95 → 2.10+0.1576th → 76th
- Rabobank High Interest Savings Account3.95 → 4.00 · 13 May · 67th → 67th13 May3.95 → 4.00+0.0567th → 67th
Not counted as changes: 3 accounts we started tracking this month. Places are among the 76 accounts tracked all month.
- Data
- Each bank's Consumer Data Right (open banking) product feed, read nightly and checked against the bank's own page. A reading is recorded when the published rate differs from the last one stored.
- Like for like
- Averages, places and changes compare accounts tracked on both dates. Our own corrections are taken back to the start and never counted as a bank's move; this month banks made 50 rises and 0 cuts.
- Scope
- Personal savings accounts open to Australian residents, as listed on BankMate. Factual comparison, not financial advice. Methodology · Today's full ranking
As of 31 May 2026, the highest total savings rate tracked by BankMate was 5.75% p.a. from Newcastle Permanent Smart Saver Account (under 25), 24 and under. The highest with no age requirements was 5.40% p.a. from MoveBank Growth Saver. Across the 76 accounts tracked all month the average total rate was 4.73% p.a. During May 2026 banks made 50 rises and 0 cuts.