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
Finding the best rates…
Savings Accounts Comparison
Bank One
Bank of Melbourne
Best available
Up to 4.85% p.a.
Line-up
2 live products
VS
Bank of Melbourne Bank of Queensland
VS
3 live products
Bank of Queensland
Best available rate
5.10%p.a.
Future Saver Account
Highest ranked offer currently surfaced for this bank on the compare page.
Base rate
0.05%
Bonus
5.05%
Conditions
Bonus rules apply
Live edge
Bank of Queensland 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 of Melbourne | Bank of Queensland |
|---|---|---|
| Max rate | 4.85% | 5.10% |
| Base rate | 1.00% | 0.05% |
| Bonus rate | 0.00% | 5.05% |
| Has conditions | No | Yes |
All Bank of Melbourne Products
Every tracked savings accounts option from Bank of Melbourne.
All Bank of Queensland Products
Every tracked savings accounts option from Bank of Queensland.
In March 2026, Bank of Melbourne's Maxi Saver offers up to 4.85% p.a., while Bank of Queensland's Future Saver Account reaches 5.10% p.a. (0.05% base + 5.05% bonus). Bank of Queensland currently leads by 0.25% p.a.
Bank of Queensland's top rate requires meeting bonus conditions each month, while Bank of Melbourne offers its rate with no ongoing requirements. Bank of Melbourne's rate includes an introductory component for 6 months. Bank of Queensland's rate applies on balances up to $50,000.
Bank of Melbourne has 2 savings products and Bank of Queensland has 3, giving you a range of options to compare.
Quick Comparison
| Feature | Bank of Melbourne | Bank of Queensland |
|---|---|---|
| Max Rate | 4.85% | 5.10% |
| Base Rate | 1.00% | 0.05% |
| Bonus Rate | 0.00% | 5.05% |
Common Questions
Bank of Melbourne vs Bank of Queensland FAQs
Which bank has the better savings rate, Bank of Melbourne or Bank of Queensland?
Bank of Queensland currently offers the higher rate at 5.10% p.a., compared to 4.85% p.a. Rates are sourced from live data and change frequently.
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.
What is Bank of Queensland's best savings account rate in 2026?
Bank of Queensland's best savings rate is 5.10% p.a. on the Future Saver Account, consisting of a 0.05% base rate and 5.05% bonus rate. This rate requires meeting monthly bonus conditions.
Do Bank of Melbourne and Bank of Queensland savings accounts have conditions?
Bank of Melbourne's top rate has no ongoing conditions, while Bank of Queensland requires meeting bonus conditions each month to earn the full advertised rate.