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2025 Savings Award
Canstar's 2025 Savings Awards
Canstar releases its
2025 Bank of the Year Awards for Savings.
Released: 4 September, 2025
About the Savings Awards
Canstar’s Bank of the Year Award for Savings recognises the institutions offering competitive savings accounts and term deposits in Australia.
Learn more about our Award process in the methodology.
Numbers crunched by Canstar Researchers
- 27 banks assessed
- 36 customer-owned institutions assessed
- 2 award-winning providers
Read our methodology →
Compare Savings Accounts →
View all Star Ratings and Awards →
Congratulations to the Award winners
(Winners are listed alphabetically)
BOQ
Savings Award – Bank of the Year
BOQ has maintained the top spot this year, picking up the Bank of the Year Savings Award. It maintained strong performance in the Flexible Account and the Youth Saver Account profiles, with the Future Saver account offering one of the best interest rates of 5.10% (at the time our Savings Awards were decided) for youth savers aged 14 to 35 years who meet their monthly criteria (on balances up to $50,000). They also perform well in term deposits, with high rates particularly for 18-24 month terms.
Great Southern Bank
Savings Award – Customer-Owned Bank of the Year
Great Southern Bank has picked up the Customer Owned Bank of the Year Savings Award again in 2025. It continues to perform in the savings space, leading in the Flexible Saver profile and showed strong performance in the Regular Saver and Youth Saver profiles. In term deposits, it leads the market this year with its high interest rates, particularly in short terms like 1-4 months and 5-7 months.
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About Canstar
Canstar also has insights and information about financial products and services generally. You can find out about topics such as: interest rates, buy now pay later (BNPL), business products and tax. You may also be interested in discovering more about calculators and resources, such as our rate checker and free credit score tool, to help you with your financial decision-making.
FAQs
About: Josh Sale, Group Manager, Research & Ratings
Bachelor of Commerce, Economics/Finance dual major, Griffith University. Master of Data Science, Strategy and Leadership, RMIT (ongoing studies)
Joshua Sale is responsible for developing the methodology and delivering Canstar’s flagship Star Ratings, as part of Canstar’s Research team. With tertiary qualifications in economics and finance, he enjoys helping Australians find more suitable financial products by transforming complex calculations into a consumer-friendly Star Rating that explains the values and benefits of different financial products.
As one of Canstar’s company spokespeople, Joshua has participated in print, radio and broadcast interviews with the likes of the Australian Financial Review, news.com.au and Money magazine, along with other leading media outlets, discussing topics such as home loan equity, banking incentive schemes, digital wallets and wider finance trends.
Joshua is known for his ability to simplify complex products and technical information, crunching the data into meaningful insights for consumers about finance. He has analysed several consumer markets across banking, insurance and wealth, and is keenly interested in various topics, ranging from how Australians interact with their superannuation funds, to the dynamic nature of the health insurance market, and collecting and redeeming credit card reward points.
Joshua believes that knowledge is the first step towards empowerment. Even while studying, he facilitated peer-assisted study sessions for economics, and represented his University’s Business School in an academic committee.
You can follow Josh on LinkedIn, and Canstar on X and Facebook.