Finding the best rates…
Bank One
Best available
Up to 4.85% p.a.
Line-up
2 live products
Compare Bank of Melbourne and Southern Cross Credit Union savings accounts side by side. In March 2026, Bank of Melbourne offers 2 accounts with rates up to 4.85% p.a., while Southern Cross Credit Union has 1 account reaching 4.65% p.a. Bank of Melbourne currently leads by 0.20%.
Bank Two
Best available
Up to 4.65% p.a.
Line-up
1 live product
2 live products
Best available rate
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
1 live product
Best available rate
Star Saver
Highest ranked offer currently surfaced for this bank on the compare page.
Base rate
0.90%
Bonus
3.75%
Conditions
Bonus rules apply
Live edge
Bank of Melbourne leads on headline savings rate by 0.20% p.a. right now. Use the feature table below to see whether that edge comes with extra conditions.
Feature Comparison
Side-by-side view of the strongest offers surfaced above.
| Feature | Bank of Melbourne | Southern Cross Credit Union |
|---|---|---|
| Max rate | 4.85% | 4.65% |
| Base rate | 1.00% | 0.90% |
| Bonus rate | 0.00% | 3.75% |
| Has conditions | No | Yes |
Every tracked savings accounts option from Bank of Melbourne.
Every tracked savings accounts option from Southern Cross Credit Union.
In March 2026, Bank of Melbourne's Maxi Saver offers up to 4.85% p.a., while Southern Cross Credit Union's Star Saver reaches 4.65% p.a. (0.90% base + 3.75% bonus). Bank of Melbourne currently leads by 0.20% p.a.
Bank of Melbourne offers its top rate unconditionally, while Southern Cross Credit Union requires monthly conditions. Bank of Melbourne's rate includes an introductory component for 6 months.
Bank of Melbourne has 2 savings products and Southern Cross Credit Union has 1, giving you a range of options to compare.
| Feature | Bank of Melbourne | Southern Cross Credit Union |
|---|---|---|
| Max Rate | 4.85% | 4.65% |
| Base Rate | 1.00% | 0.90% |
| Bonus Rate | 0.00% | 3.75% |
| Conditions Required | No | Yes |
| Balance Cap | Unlimited | Unlimited |
Bank of Melbourne currently offers a 0.20% higher savings rate.
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Common Questions
Bank of Melbourne currently offers the higher rate at 4.85% p.a., compared to 4.65% p.a. Rates are sourced from live data and change frequently.
Bank of Melbourne's best savings rate is 4.85% p.a. on the Maxi Saver.
Southern Cross Credit Union's best savings rate is 4.65% p.a. on the Star Saver, consisting of a 0.90% base rate and 3.75% bonus rate. This rate requires meeting monthly bonus conditions.
Bank of Melbourne's top rate has no ongoing conditions, while Southern Cross Credit Union requires meeting bonus conditions each month to earn the full advertised rate.
Based on current rates, Bank of Melbourne pays approximately $100 more in interest per year on a $50,000 balance. This is based on the headline rate difference of 0.20% p.a.