Kids savings accounts in Australia

Every bank and credit union we track in Australia, side by side. Filter by bank and account type, sort by rate, then upload a bank statement to see what your own balance could earn.

Discover banks

RBA cash rate vs savings rates at Australian banks

Free account to get notified
RBA cash rate now
4.60%
Previous RBA cash rate
4.35%
Last change
+0.25
on 30 Sep 2026
Data as of
2 Nov 2026
Today3.00%3.50%4.00%4.50%5.00%5.50%6.00%202420252026RBA cash rate 4.10% from 2025-02-19RBA cash rate 3.85% from 2025-05-21RBA cash rate 3.60% from 2025-08-13RBA cash rate 3.85% from 2026-02-04RBA cash rate 4.10% from 2026-03-18RBA cash rate 4.35% from 2026-05-06RBA cash rate 4.60% from 2026-09-30woodofinance.com
RBA cash rateEach bank's top savings rateBank rates recorded daily from 1 Nov 2026.

Top savings rate today

  1. ING5.75%+1.15
  2. St.George5.40%+0.80
  3. ANZ5.35%+0.75
  4. Bank Australia5.35%+0.75
  5. Bankwest5.35%+0.75
  6. Teachers Mutual Bank5.35%+0.75
  7. Virgin Money5.30%+0.70
  8. CommBank5.25%+0.65
  9. Macquarie5.25%+0.65
  10. NAB5.25%+0.65
  11. Westpac5.25%+0.65
  12. Bendigo Bank5.00%+0.40
  13. BOQ5.00%+0.40
  14. Beyond Bank4.90%+0.30

Points above or below the RBA cash rate.

Australia14AustriasoonCanadasoonDenmarksoonFinlandsoonGermanysoonHong KongsoonIrelandsoonJapansoonNew ZealandsoonNorwaysoonSingaporesoonSwedensoonSwitzerlandsoonUnited Arab EmiratessoonUnited KingdomsoonUnited Statessoon
All bank typesBig fourOnline and digitalRegionalCustomer-owned
All savings accountsBonus savings accounts13Savings with no monthly conditions13Kids savings accounts5Accounts for retirees and pensioners10
All banksANZBank AustraliaBankwestBendigo BankBeyond BankBOQCommBankINGMacquarieNABSt.GeorgeTeachers Mutual BankVirgin MoneyWestpac
Highest savings rateHighest 12-month term depositName, A to Z
Clear

5 banks offer kids savings accounts in Australia

Showing all 5

Sorted by the rate you can earn. No bank can pay to move up this list.

Is your savings account keeping up?

Upload a bank statement and Woodo finds the interest your bank actually paid, then shows what the same balance would earn at the best savings rate in Australia today. No bank login needed.

Upload a statement

Guides for savers in Australia

All articles
How to pick a travel credit card in AustraliaCredit cardsAustraliaHow to pick a travel credit card in AustraliaThe Qantas Money Everyday Credit Card is our top travel pick for most Australians thanks to its low A$99 annual fee and solid points earn. Here's how it compares with five other cards, plus how to choose for your own spending.Woodo Editorial · 18 Oct 20269 minFinance Tracking App for Couples in Australia: The Real ChallengesPersonal financeAustraliaFinance Tracking App for Couples in Australia: The Real ChallengesManaging shared finances in Australia has never been more demanding, rising rents, split accounts across multiple banks, and the constant question of who paid what. This guide walks through the real challenges couples face and how a modern finance tracking app for couples in Australia can finally bring both partners onto the same page.Woodo Editorial · 16 Jun 20267 minWhat the Typical Expense Tracker Gets Wrong About Australian HouseholdsPersonal financeAustraliaWhat the Typical Expense Tracker Gets Wrong About Australian HouseholdsFinding a reliable expense tracker for households in Australia means more than logging individual transactions, it means handling shared bills, multiple earners, and accounts scattered across different banks. Most tools weren't built for that reality, and households pay the price in confusion, missed costs, and money arguments.Woodo Editorial · 11 Jun 20266 min

Community

Savers in Australia will soon be able to share whether their bonus rate paid out each month, and flag a rate change the moment they spot it.

For banks and partners

Tell us what you would like to feature and we will send back what is available. Placements are labelled as sponsored and sit outside the ranked list, which no bank can pay into.

Start a conversation

Common questions about savings in Australia

Which bank has the highest savings rate in Australia right now?

On 2 Nov 2026 the highest ongoing savings rate we found was 5.75% p.a. on ING Savings Maximiser, paid in months when you meet its conditions. Among the big four, ANZ ANZ Plus Growth Saver paid 5.35% p.a.

Is a term deposit better than a savings account?

A term deposit fixes your rate for the term, so it suits money you will not need to touch. A savings account rate can change at any time, and bonus rates usually depend on monthly deposits or a growing balance. On 2 Nov 2026 the best 12-month term deposit we found was 5.60% p.a. at Bank Australia.

Are my savings protected if an Australian bank fails?

Yes, up to $250,000 per account holder at each bank, under the Australian Government's Financial Claims Scheme. Brands that share one banking licence share one limit, so money at CommBank and Bankwest counts together.

How often are these rates checked?

Every day. Australian banks publish their product details in a standard format under the Consumer Data Right, and Woodo reads them once a day. Rates a new customer cannot get, such as existing-customer or SMSF-only rates, are left out.

Do banks pay Woodo to appear here?

No bank can pay to change the order of this list, which is sorted by rate. Banks can buy placements that are labelled as sponsored and sit outside the ranked list.

Woodo tracks 14 banks in Australia. Every rate is checked against the bank's own published product data each day, most recently on 2 Nov 2026.