You can find savings accounts offering around 5% interest from online banks and some traditional banks, often through promotional or bonus rates for a limited time (like Rabobank, UBank, ING) or by meeting specific criteria (like Westpac's age-based offers), with online banks generally leading in higher base rates like Varo Bank or Laurel Road in the U.S., while Australian banks like Ubank (5.10% p.a.) or Rabobank (5.10% p.a.) have strong offers, but always check conditions like balance caps or withdrawal limits.
You can get close to 5% interest in Australia with high-interest savings accounts, especially introductory offers from banks like Rabobank (up to 5.10% for 4 months) or Westpac Life (5.00% for 18-34s), though these often require meeting bonus conditions like regular deposits or linked accounts, while some providers offer high ongoing rates like ING or Bankwest, so compare bonuses and conditions carefully.
Several banks offer around 5% interest on savings, but it often comes with conditions like introductory periods (e.g., Ubank, Rabobank, Westpac, ING in Australia offer up to 5-5.1% for a few months), specific age/activity requirements (like Westpac Life for 18-34s), or in the UK, fixed-rate accounts from Lloyds, TSB, HSBC, while US banks like Varo & AdelFi offer 5% APY. Always check if it's a bonus, introductory, or fixed rate and the conditions to maintain it, as rates change.
The highest savings rate on our database is 5.10% p.a., with both Rabobank and UBank offering this intro bonus rate for new customers. Written by Sean Callery and fact checked by Jared Mullane. Updated 6 Jan 2026.
Finding a standard bank account with a 9.5% interest rate is highly unlikely in early 2026, as typical high-yield savings rates are around 4-5% (e.g., CommBank's 4.25% bonus, Bankrate's top online rates around 4.20%), while some specialized loans (like IDFC FIRST Bank education loans) or introductory fixed deposits (like G&C Mutual Bank's rates in Australia) might offer close to or above 4-5%, but 9.5% is usually for specific, limited-term promotions, specific loan types, or in different markets, not general savings.
Many personal finance experts recommend saving at least three to six months' worth of expenses. But the goal amount can vary on several personal factors. An emergency fund is just as the name suggests. This is money set aside to cover your necessities if you suddenly lose your job.
You'll earn anywhere from a few hundred to a few thousand dollars in a year on $50,000, depending on the interest rate, which varies greatly from 0.05% in a basic savings account to over 3.0% or more in high-yield savings or term deposits (CDs). For example, at 1.5% interest, you'd earn $750; at 3.5%, you'd earn $1,750; and at 5%, you'd earn $2,500, calculated by multiplying $50,000 by the annual rate.
Commonwealth Bank (CommBank) savings rates vary by account, with their NetBank Saver offering a high introductory rate (around 4.45% p.a. for 5 months) for new customers, then dropping to a standard rate (around 1.55% p.a.), while GoalSaver offers up to 4.25% p.a. (including bonus) by growing your balance monthly, and Youthsaver can reach 4.30% p.a. (with bonus) on balances up to $50,000. Rates are variable and depend on meeting bonus criteria like monthly balance growth or deposits.
Best online high-yield savings account rates
You can get around 5% interest on savings through specific high-yield online banks like Varo Bank (with conditions) or certain bonus savings accounts from Australian banks like Ubank, ING, or Westpac for specific age groups, often requiring meeting conditions like regular deposits or card purchases, while some UK banks offer 5% fixed rates for regular savers. Rates change, so check current offers from online banks and traditional banks for tiered rates or bonus incentives.
Savings accounts
Earn up to 4.15% p.a. (0.01% p.a. variable base rate + 4.14% p.a.
5% interest on $1,000 is $50 for one year (simple interest), calculated by multiplying $1,000 by 0.05, but with compound interest, you earn more each subsequent year as interest builds on the growing total (e.g., $52.50 in the second year).
Getting a guaranteed 10% interest rate on savings is extremely rare and usually involves significant risk; standard high-yield savings accounts offer around 4-5% APY, while achieving 10% typically requires investing in riskier assets like certain stocks, real estate, or specialized funds, or potentially niche high-yield accounts with specific conditions.
CommBank Savings accounts
Principality building society is paying this rate on its six-month regular savings account, provided you slot away between £1 and £200 a month. Elsewhere, Yorkshire Building Society has launched two new regular savers, both paying 8% on a one-year term.
If you wanted to earn an average $3,000 per month, you would need to invest $1.6 million ($36,000 divided by 2.2%). While there is nothing wrong with passive investing, most investors are likely to do much better if they build their own investment portfolio.
Quick Answer. With a competitive 4.15% APY, a $100,000 CD could earn you $4,150 in interest over a year. In contrast, the average one-year CD rate of 2.43% would net you $2,430 over a year. You can earn $4,150 by putting $100,000 in a one-year CD with a 4.15% APY, which is a competitive rate in November 2025.
Where to invest £50k?
Put aside just $13.70 per day, and at the end of the year you'll have $5,000; double that to $27.39 daily and you'll have $10,000 by year-end—and that doesn't include the interest you may earn. You can save money by making a budget, automating savings, reducing discretionary spending and seeking discounts.
The general rule is to have three to six months' worth of living expenses (rent, utilities, food, car payments, etc.) saved up for emergencies, such as unexpected medical bills or immediate home or car repairs. The guidelines fluctuate depending on each individual's circumstance.