Savings app features you should try in 2024

By Cameron Thomson · · 2 min read
Fact Checked
Advertiser disclosure

Looking for a new savings account? Interest rates aren’t the only thing you’ll want to check. Our lives have become increasingly more digital and savings accounts are no different.

Savings account apps aren’t just a novel way of saving money. Apps can have plenty of helpful features that can help you save even more. Some of the top features to look out for include: 

1. Round-up features

Round-ups are one of the most helpful features introduced into savings apps. Basically, with a linked transaction account, any payment is rounded up to the nearest dollar and the difference is transferred into the savings account. 

  • For example: You spend $4.50 on a cup of coffee. An extra 50¢ is added to the transaction and transferred automatically to your savings account. 

This can be an easy hands off way of saving a little bit extra. Just make sure you budget your spending, otherwise you might have to go and transfer the cash back out of your savings if you overspend.

2. Spending habit tracker

With AI and machine learning continuing to enter more of our lives, apps have begun to introduce features that not only track your spending but also predict what you’re likely to spend this week. 

The advantage to this feature is that it gives you a zoomed out view on the kinds of things you’re potentially spending too much on. From there, you can analyse and change your habits which usually leads to more savings.

3. Automatic transfers

Another helpful savings account feature is an automatic transfer. Basically, you’ll be able to set a regular date to transfer money from your transaction account and into your savings account. Often, savers will use this feature to automatically move a portion of their income into their savings account. That’s why it can be helpful to budget with the right savings account.

Ready to get started with a new provider? Check out our savings account hub page and compare up to 203 accounts. Alternatively, check out some high interest savings accounts in the tables below… 

Savings account comparisons on Mozo - last updated 5 May 2024

Search promoted savings accounts below or do a full Mozo database search. Advertiser disclosure
  • Mozo Expert Choice Badge
    High Interest Savings Account

    5.75% p.a. (for $0 to $250,001)

    4.40% p.a.(for $0 to $250,001)

    Yes up to $250,000

    Bonus rate for the first 4 months from account opening

    Reward yourself with a higher rate for your good savings habits with the Rabobank High Interest Savings Account . Receive the maximum rate when you grow your balance by at least $200 each month. No Account keeping fees. No minimum balance.

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  • Savings Account

    5.35% p.a. (for $0 to $250,000)

    4.75% p.a.(for $0 to $1,000,000)

    Yes up to $250,000

    Bonus variable rate is available for the first four months.

    Competitive introductory variable rate for first 4 months (on deposits up to $250,000). No account keeping fees to pay. Multiple 2023 Mozo Experts Choice Award winner.

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    Details
  • Reward Saver Account

    5.25% p.a. (for $0 to $1,000,000)

    0% p.a.(for $0 and over)

    Yes up to $250,000

    Intro bonus rate of 5.25% for balances up to $1,000,000 for the first 4 months, reverting to 3.25%. Minimum deposit of $50 and no withdrawals.

    Introductory bonus rate for balances up to $1,000,000 for the first 4 months. Minimum deposit of $50 and no withdrawals. Start your account online in under 10 minutes and earn interest on balances up to $1,000,000 (T&Cs apply). No monthly account fees, helping you save smarter and faster.

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  • Mozo Expert Choice Badge
    AMP Saver Account

    5.40% p.a. (for $0 to $250,000)

    1.20% p.a.(for $0 to $5,000,000)

    Yes up to $250,000

    Enjoy a bonus rate when you deposit at least $1000 per month with the AMP Saver Account.

    No account fees. Unlimited transactions when linked to an AMP Bank transaction account. Easy online access to your money. Option to link your savings account to an everyday transaction account. 2024 Mozo Experts Choice Award winner.

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  • Savings+Bonus

    5.00% p.a. (for $0 to $250,000)

    2.00% p.a.(for $0 to $250,000)

    Yes up to $250,000

    Minimum $100 monthly deposit and no withdrawals to earn bonus interest each month.

    Earn a generous interest rate on your at-call savings (T&Cs apply). Interest is calculated daily and paid to you monthly. A $5 monthly membership fee will not apply if your total account balances with First Option Bank exceed $1,000 or you have a credit card or loan with the bank.

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  • MoneyMAX Account

    No Current Offer

    4.75% p.a.(for $1 and over)

    Yes up to $250,000

    Unlimited access 24/7 via Banking App, Phone & Internet Banking. Interest is calculated daily and paid monthly. No transaction fees or monthly service fees. No minimum balance or withdrawal restrictions. Online access only.

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  • Kids Bonus Saver

    0.85% p.a. (for $5,556 to $50,001)

    0.05% p.a.(for $0 and over)

    Yes up to $250,000

    Minimum $5 monthly deposit and no withdrawals to earn bonus interest each month.

    A dedicated high-interest savings account exclusively for under-18 members, designed to help kids save up for something they want. Internet banking and Mobile Banking App. Deposit a minimum of $5 per month (pocket money!) without making a withdrawal and you will earn high bonus interest on balances up to $5,555. Balances over $5,555 will earn only the base interest rate of 0.05% p.a

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^See information about the Mozo Experts Choice Savings Account Awards

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