2 live products
Bank Australia
Best available rate
4.60%p.a.
Bonus Saver
Highest ranked offer currently surfaced for this bank on the compare page.
Base rate
0.10%
Bonus
4.50%
Conditions
Bonus rules apply
Finding the best rates…
Savings Accounts Comparison
Bank One
Bank Australia
Best available
Up to 4.60% p.a.
Line-up
2 live products
VS
Bank Australia vs Bank of Melbourne
Compare Bank Australia and Bank of Melbourne savings accounts side by side. In March 2026, Bank Australia offers 2 accounts with rates up to 4.60% p.a., while Bank of Melbourne has 2 accounts reaching 4.85% p.a. Bank of Melbourne currently leads by 0.25%.
VS
2 live products
Bank of Melbourne
Best available rate
4.85%p.a.
Maxi Saver
Highest ranked offer currently surfaced for this bank on the compare page.
Base rate
1.00%
Bonus
0.00%
Conditions
No monthly hoops
Live edge
Bank of Melbourne leads on headline savings rate by 0.25% p.a. right now. Use the feature table below to see whether that edge comes with extra conditions.
0.25% gap
Feature Comparison
Side-by-side view of the strongest offers surfaced above.
| Feature | Bank Australia | Bank of Melbourne |
|---|---|---|
| Max rate | 4.60% | 4.85% |
| Base rate | 0.10% | 1.00% |
| Bonus rate | 4.50% | 0.00% |
| Has conditions | Yes | No |
All Bank Australia Products
Every tracked savings accounts option from Bank Australia.
All Bank of Melbourne Products
Every tracked savings accounts option from Bank of Melbourne.
In March 2026, Bank Australia's Bonus Saver offers up to 4.60% p.a. (0.10% base + 4.50% bonus), while Bank of Melbourne's Maxi Saver reaches 4.85% p.a.. Bank of Melbourne currently leads by 0.25% p.a.
Bank of Melbourne offers its top rate unconditionally, while Bank Australia requires monthly conditions. Bank of Melbourne's rate includes an introductory component for 6 months.
Bank Australia has 2 savings products and Bank of Melbourne has 2, giving you a range of options to compare.
Quick Comparison
| Feature | Bank Australia | Bank of Melbourne |
|---|---|---|
| Max Rate | 4.60% | 4.85% |
| Base Rate | 0.10% | 1.00% |
| Bonus Rate | 4.50% | 0.00% |
| Conditions Required |
Common Questions
Bank Australia vs Bank of Melbourne FAQs
Which bank has the better savings rate, Bank Australia or Bank of Melbourne?
Bank of Melbourne currently offers the higher rate at 4.85% p.a., compared to 4.60% p.a. Rates are sourced from live data and change frequently.
What is Bank Australia's best savings account rate in 2026?
Bank Australia's best savings rate is 4.60% p.a. on the Bonus Saver, consisting of a 0.10% base rate and 4.50% bonus rate. This rate requires meeting monthly bonus conditions.
What is Bank of Melbourne's best savings account rate in 2026?
Bank of Melbourne's best savings rate is 4.85% p.a. on the Maxi Saver.
Do Bank Australia and Bank of Melbourne savings accounts have conditions?
Bank of Melbourne's top rate has no ongoing conditions, while Bank Australia requires meeting bonus conditions each month to earn the full advertised rate.