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 vs RACQ Bank
Compare Bank of Melbourne and RACQ Bank savings accounts side by side. In March 2026, Bank of Melbourne offers 2 accounts with rates up to 4.85% p.a., while RACQ Bank has 1 account reaching 4.75% p.a. Bank of Melbourne currently leads by 0.10%.
VS
1 live product
RACQ Bank
Best available rate
4.75%p.a.
Bonus Saver
Highest ranked offer currently surfaced for this bank on the compare page.
Base rate
0.01%
Bonus
4.74%
Conditions
Bonus rules apply
Live edge
Bank of Melbourne leads on headline savings rate by 0.10% p.a. right now. Use the feature table below to see whether that edge comes with extra conditions.
0.10% gap
Feature Comparison
Side-by-side view of the strongest offers surfaced above.
| Feature | Bank of Melbourne | RACQ Bank |
|---|---|---|
| Max rate | 4.85% | 4.75% |
| Base rate | 1.00% | 0.01% |
| Bonus rate | 0.00% | 4.74% |
| Has conditions | No | Yes |
All Bank of Melbourne Products
Every tracked savings accounts option from Bank of Melbourne.
All RACQ Bank Products
Every tracked savings accounts option from RACQ Bank.
In March 2026, Bank of Melbourne's Maxi Saver offers up to 4.85% p.a., while RACQ Bank's Bonus Saver reaches 4.75% p.a. (0.01% base + 4.74% bonus). Bank of Melbourne currently leads by 0.10% p.a.
Bank of Melbourne offers its top rate unconditionally, while RACQ Bank requires monthly conditions. Bank of Melbourne's rate includes an introductory component for 6 months.
Bank of Melbourne has 2 savings products and RACQ Bank has 1, giving you a range of options to compare.
Quick Comparison
| Feature | Bank of Melbourne | RACQ Bank |
|---|---|---|
| Max Rate | 4.85% | 4.75% |
| Base Rate | 1.00% | 0.01% |
| Bonus Rate | 0.00% | 4.74% |
| Conditions Required |
Common Questions
Bank of Melbourne vs RACQ Bank FAQs
Which bank has the better savings rate, Bank of Melbourne or RACQ Bank?
Bank of Melbourne currently offers the higher rate at 4.85% p.a., compared to 4.75% 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 RACQ Bank's best savings account rate in 2026?
RACQ Bank's best savings rate is 4.75% p.a. on the Bonus Saver, consisting of a 0.01% base rate and 4.74% bonus rate. This rate requires meeting monthly bonus conditions.
Do Bank of Melbourne and RACQ Bank savings accounts have conditions?
Bank of Melbourne's top rate has no ongoing conditions, while RACQ Bank requires meeting bonus conditions each month to earn the full advertised rate.