Top 3 HISA (Feb 2026)

These 3 accounts are based on my opinion only and one I would personally use.
I rank them based on interest rate return and eligibility conditions (what hoops you need to jump through in order to receive the advertised interest).
I tend to avoid and exclude ones that suck you in with a great rate then default to a poor rate after

Rank #1: Macquarie Savings Account 

Interest Rate Return (initial): 4.6% (first 4 months)

Ongoing Interest Rate:           4.25% 

Qualifying Conditions:           None

Rank #2: Ubank Save Account 

Interest Rate Return (initial): 5.1% (first 4 months)

Ongoing Interest Rate:           4.35%

Qualifying Conditions:           Need to grow balance by at least $1 excluding interest earnt

Rank #3: Westpac Life Goal Savings Account

Interest Rate Return (initial): 4.25%

Ongoing Interest Rate:           4.25%

Qualifying Conditions:           Need to grow balance by at least $1 excluding interest earnt

Final Verdict

All options listed here are great options. Macquarie Bank in my mind edged out the others purely because there were no qualifying conditions to receive interest earnt. If for whatever reason you needed to withdraw from your High Interest Savings Account – you would not be penalised for this and this in my opinion outweighs the benefits of a slightly higher interest rate. 

I do also want to mention that convenience from using the same provider you currently bank with is important eg if you’re currently with Commbank and their High Interest Savings Account return rate and qualifying conditions are decent – weigh this up compared to other options and your personal circumstances. It’s more important you set up a system which you’ll actually utilise compared to chasing the best return but not following through with using the opened account.