The Best High Interest Savings Accounts to Consider Right Now
Looking to maximise the interest potential on your savings?
2 min
In the grand scheme of modern investments—that is, how best to gain capital on your cashflow—high-interest savings accounts may take a back seat to other forms of investments, but those looking to grow their finances steadily over the course of each month really should pay close attention.
With interest rates on bank deposit accounts on the rise—currently presenting between 4 to 5.50 per cent, and higher, in some cases—the benefits of having and up-keeping a traditional savings account are a no brainer for the modern day customer.
In 2024, if you’re after the best high-interest savings account, it’s important to remember to compare interest rates, fees, terms, and conditions across the board, as different providers may suit your needs and preferences in different ways. Below, you will find everything you need to know about investing your time (and money) into high-interest savings accounts, and which bank may work best for your current circumstances.
But first…
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What Are High-Interest Savings Accounts?
In its simplest form, high-interest savings accounts are bank accounts that will reward you with interest on the amount of money you add into the account each month. The amount received is dependant on the annual interest rate. Of course, some accounts will pay interest with little to no conditions, while others may offer a better rate, but you’ll likely have to meet specific requirements.
What Are the Best High-Interest Savings Accounts in 2024?
The best high-interest savings accounts in Australia can vary depending on factors such as interest rates, account features, bonus promotions, and eligibility criteria. While we recommend each individual conduct their own research as to what the right savings product will be for your personal circumstances, here are some notable high-interest savings accounts to consider in March 2024:
1. Australian Unity
- Freedom Saver Account
- 5.20% interest rate
2. Rabobank
- High interest savings account
- 5.75% for the first four months
3. ANZ
- ANZ Save Account (ANZ Plus)
- 4.90% interest rate
4. Macquarie Bank
- Savings Account
- 5.35% for the first four months
5. ING
- Savings Maximiser
- 5.50% interest rate when:
- Deposit $1,000, make 5 purchases, and grow your account each month
6. MOVE Bank
- Growth Saver
- 5.50% interest rate when:
- Deposit $200 and make no withdrawals monthly
7. AMP Bank
- AMP Saver Account
- 5.40% interest rate when:
- Deposit $1,000 each month
8. ME Bank
- HomeME Savings Account
- 5.55% interest rate when:
- Deposit $2,000 into your SpendME account and grow your balance each month
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Gold miners are emerging as a compelling way to navigate market uncertainty, with analysts pointing to strong cash flows, attractive valuations and rising profit margins. As gold prices stabilize above US$4,000 an ounce, mining stocks could offer investors both downside protection and long-term upside.
3 min
Gold is one of the market’s go-to hedges in rocky times. Don’t forget that gold miners’ stocks are too.
The stock market’s gains in 2026 belie the rocky macroeconomic picture: elevated inflation, heightened geopolitical tensions, and jitters about the artificial-intelligence trade. That backdrop, in theory, should be the time for gold to shine. Instead, the price of the yellow metal has tumbled more than 5% so far, after last year’s blistering 65% rally. In part, the U.S. dollar’s recovery has stymied gold, which benefited from the greenback’s weakness in 2025.
Even with the precious metal’s recent weakness, gold mining stocks could be the best way to profit from this year’s uncertainty.
Gold miners “are a valuable hedge against macro risks that would likely be damaging for equities,” BCA Research’s Noah Weisberger and Rishabh Shah wrote this week.
Concerns about the Federal Reserve’s next moves to tackle inflation, the increasingly crowded AI trade, and steep valuations for tech stocks are just some of the drivers that could help gold’s price get on even footing— and lead to even bigger gains for miner stocks.
These stocks’ prices tend to outpace gold’s moves, because the companies have fixed operational costs. So when gold’s price rallies, their profit margins soar, and vice versa. For instance, the VanEck Gold Miners GDX +7.39% exchange-traded fund has fallen 11% this year as the metal has slumped.
Now, gold’s price just needs to stabilize to help miners’ stocks take off, and that seems to be happening. The precious metal has recently found support above the $4,000 level, and has stuck in a narrow range since the end of June. But its price rose ever so slightly in July, ending a four-month losing streak for the metal. Technical analysis also suggests that gold is due for a comeback.
Barron’s recently wrote that the pullbacks for both gold miners and the metal itself are overdone. Senior technical analyst Doug Busch noted that the VanEck ETF is on the “verge of a breakout” and has the potential to hit $11o in early 2027, up more than 40% from its current price.
Gold miners also have more than their role as a market hedge going for them. Their fundamentals are solid, too, says Chris Mancini, portfolio co-manager of the Gabelli Gold Fund.
“Precious metals miners are generating substantial amounts of free cash flow given profit margins of over $2,000 per ounce, and are returning this cash to shareholders through buybacks and dividends,” he said in an email.
“Buying the miners is a cheap way to get exposure to the price of gold,” he added. His fund owns Newmont NEM +6.71%, a Barron’s stock pick last year, and Agnico Eagle Mines as top holdings, as well as miners Northern Star Resources, Endeavour Mining, and Kinross Gold K+8.59%.
Miners are better businesses than they used to be, the BCA team added.
“Capex is more disciplined, margins are high and rising…and they are largely independent of the AI story,” Weisberger, BCA’s head of equities, and Shah, a senior analyst, wrote.
That last part is key. AI is disrupting the software industry and many other services and information-oriented businesses, and investors have piled into AI stocks. But ChatGPT, Claude, Grok, and other large-language models aren’t going to replace the need to mine for metals.
“Equity portfolios can benefit from exposure to quality that is uncorrelated to AI risk, and gold miners fit the bill,” the BCA team said.
They recommend that investors buy the VanEck Gold Miners ETF, which owns top miners such as Agnico, Barrick Mining ABX +7.24%, and Newmont.
An important bonus for big gold miners’ stocks is that their valuations are attractive after the gold’s pullback, too. The VanEck ETF is now trading at just a little more than nine times next year’s earnings estimates. That’s a big discount to its five-year average price-to-earnings ratio of 14, according to FactSet.
What’s more, the ETF is currently valued at a more than 50% discount to the S&P 500 SPX -0.17%, which is trading for about 19 times earnings estimates for 2027. Mining stocks have typically traded at just a 25% discount to the broader market over the past five years. So there is significant upside for the group if valuations move back toward normal levels.
One factor that complicates mining stocks as a market hedge, of course, is if stocks bounce back, which has been the case so far in August.
But both the market and economic outlooks remain cloudy, and investors remain nervous about the Fed’s next moves and AI stocks. Gold miners should do just fine, even if the anxious mood on Wall Street persists.
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