Is cashback or a higher savings rate better over 6 months?

This guide looks at what a 30-year-old saver might see with $20,000 over 6 months, where an upfront cashback offer can compete with a stronger savings rate.

Best setups for your cash

Projected return over your selected term using current product data. Check the official bank page before acting.

6-month return

$540

1-product split

Account

Put here

Advertised rate

Effective rate

Return

MOVE Bank

Growth Saver

Est. return

$540

Amount

$20,000

Headline rate

5.40%p.a.

Effective rate

5.40%p.a.

$20,000

5.40%

$540

Details

6-month return

$535

1-product split

Account

Put here

Advertised rate

Effective rate

Return

BOQ

Future Saver Account

Est. return

$535

Amount

$20,000

Headline rate

5.35%p.a.

Effective rate

5.35%p.a.

$20,000

5.35%

$535

Details

6-month return

$535

1-product split

Account

Put here

Advertised rate

Effective rate

Return

Judo Bank

Personal Savings Account

Est. return

$535

Amount

$20,000

Headline rate

5.35%p.a.

Effective rate

5.35%p.a.

$20,000

5.35%

$535

Details

6-month return

$535

1-product split

Account

Put here

Advertised rate

Effective rate

Return

ubank

Save account

Est. return

$535

Amount

$20,000

Headline rate

5.60%p.a.

Effective rate

5.35%p.a.

$20,000

5.60%

5.35%

$535

Details

6-month return

$517

No fuss1-product split

Account

Put here

Advertised rate

Effective rate

Return

Bankwest

Bankwest Easy Saver

Est. return

$517

Amount

$20,000

Headline rate

5.50%p.a.

Effective rate

5.17%p.a.

$20,000

5.50%

5.17%

$517

Details

6-month return

$510

No fuss1-product split

Account

Put here

Advertised rate

Effective rate

Return

St George

Maxi Saver

Est. return

$510

Amount

$20,000

Headline rate

5.10%p.a.

Effective rate

5.10%p.a.

$20,000

5.10%

$510

Details

6-month return

$508

No fuss1-product split

Account

Put here

Advertised rate

Effective rate

Return

Rabobank

High Interest Savings Account

Est. return

$508

Amount

$20,000

Headline rate

5.65%p.a.

Effective rate

5.08%p.a.

$20,000

5.65%

5.08%

$508

Details

6-month return

$425

No fuss1-product split

Account

Put here

Advertised rate

Effective rate

Return

Unity Bank

MoneyMAX Account

Est. return

$425

Amount

$20,000

Headline rate

4.25%p.a.

Effective rate

4.25%p.a.

$20,000

4.25%

$425

Details

6-month return

$270

No fuss1-product split

Account

Put here

Advertised rate

Effective rate

Return

Dnister

iSaver

Est. return

$270

Amount

$20,000

Headline rate

4.00%p.a.

Effective rate

2.70%p.a.

$20,000

4.00%

2.70%

$270

Details

6-month return

$250

No fuss1-product split

Account

Put here

Advertised rate

Effective rate

Return

ANZ Plus

ANZ Plus Flex Saver

Est. return

$250

Amount

$20,000

Headline rate

4.75%p.a.

Effective rate

2.50%p.a.

$20,000

4.75%

2.50%

$250

Details

Calculator

Check your own setup in the calculator

Start from this guide, then change the amount, age, or time frame to match your own setup.

Check your own setup in the calculator