Compare bank accounts

If you're looking for the best everyday transaction account, or a great savings or deposit investment deal, compare rates, fees and features on 60 accounts below. Choose from top providers including Westpac, Commonwealth Bank, NAB, HSBC, Citibank, Macquarie Bank and apply direct.

The bank account comparison tool below will help you to compare bank accounts from lenders. Simply tick the box of which accounts you would like to take a closer look at and then click the 'Compare' button.

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Warning: These comparison rates are true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

Different types of bank accounts

Depending on what you need your bank account for, there are many different types of bank accounts out there for you. They include savings accounts, which usually give higher interest rates if you do not withdraw from your account, differing from transaction accounts which usually have lower interest rates but lower transaction fees. Below is a summary of each type of bank account.

Basic Bank Accounts

These bank accounts are most suited to, and mainly held by pensioners and seniors. The accounts usually have no monthly fees, limited free transactions and no minimum balance required.

Transaction Bank Accounts

Transaction bank accounts are the most common bank accounts. They offer a wide range of features, including online banking, ATM access, unlimited transactions, although they do charge fees, either per transaction or a monthly fee. Make sure you compare these fees above before you sign up. Also note that if you are a student or under 18, you will have your fees waived by most banks and lenders.

Savings Bank Accounts

These bank accounts are best for those who will not need the money in the account for a while. Those who are trying to save. This is because usually these accounts will have restrictions on the amount of withdrawals you make per month (if they let you make any), and also how much you have to deposit per month, to qualify for the higher interest rate. If you are trying to save, these bank accounts are worth it though, as the interest rate on these accounts when compared to the regular bank account or transaction bank account, is a lot higher.

Term Deposit Bank Accounts

Term deposit bank accounts offer the highest interest rates of any of the different types of bank accounts. However they are only good for those people who already have an amount of money to deposit, and those who won't need this money in the near future. This is because term deposits have major restrictions on how you can use your money. They require the money to be deposited in an account and usually not touched for a few months, the longer you leave it, usually the higher the interest rate. If you change your mind and decide to withdraw some money out of the term deposit before the required time has finished, then you will usually lose all the interest benefits earned on the account.

Compare Bank Accounts

When you are going to compare bank accounts there are many features you should keep an eye out for. Among the most important are things such as interest rates, fees, minimum balance requirements or maximum allowable balance.

There are also user specific requirements that you may like to look at when you want to compare bank accounts. These could include things such as whether or not the bank account offers you ATM access and how much it charges to use ATM's or if the lender offers internet banking or has smartphone applications available, these inclusions will all be shown in our comparison page when you compare bank accounts from our table above.

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