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Savings reportAs of 31 July 2026July 2026

The top rate held at 5.75%. The average held at 4.81%.

RBA cash rate 4.35% · held since 6 May · the average account pays 0.46 above it

Highest rates

As of 31 July 2026
  1. 1st
    5.75%Smart Saver Account (under 25)Newcastle PermanentGo to site24 and under
  2. 2ndGrowth SaverMoveBank5.65%
  3. 3rdFuture Saver AccountBOQ · Ages 18 to 355.60%
  1. 4First Option Bank KIDS BONUS SAVER17 and under5.55%
  2. 5Great Southern Bank Youth eSaver17 and under5.50%
  3. 6=ING Savings Booster5.40%
  4. 6=Rabobank PremiumSaver5.40%
  5. 8=Great Southern Bank Goal SaverAges 18 to 245.35%
  6. 8=Judo Bank Personal Savings Account5.35%
  7. 8=MoveBank Bonus Saver5.35%
Compare all 80 accounts

Total rate is base plus bonus, with every monthly condition met. 63 of 80 accounts ask something of you each month, or have an age limit.

Since tracking began

Month ends, February to July
Today, across the 79 tracked all month
Highest
5.75%
Average
4.81%
Median
5.00%
Paying 5% or more
49 of 79
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 July

Since 1 July
  1. Virgin Money Virgin Money Boost Saver3.75 → 4.00 · 16 July · 71st → 70th+0.25

Not counted as changes: 1 account we started tracking this month. Places are among the 79 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 1 rise 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 July 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 5.65% p.a. from MoveBank Growth Saver. Across the 79 accounts tracked all month the average total rate was 4.81% p.a. During July 2026 banks made 1 rise and 0 cuts.