How to make your money work harder with the right savings account

Canstar’s latest star ratings have been awarded for savings accounts, with four personal banking products receiving 5-star ratings. 

Canstar researched, assessed and rated more than 31 savings accounts across 11 providers on a range of product prices and features, including interest rates, accessibility, fees, rebates and account security.

Read Canstar’s free report on savings and transaction accounts

Because saving requirements vary between each individual, Canstar’s researchers’ rate products based on two consumer profiles; the Flexible Saver and the Regular Saver.

Read more about Canstar’s research methodology

What are Canstar’s 5-star savings accounts for 2019?

As you might have guessed, not all savers are created equal, which is why Canstar assessed the following profiles for its savings account star ratings:

    1. Flexible Saver
    2. Regular Saver

Flexible Saver

If you’re a flexible saver, you are likely to want your money to be working hard in your savings account, without the restriction of withdrawal fees or additional conditions.

Below, you’ll see the Flexible Saver accounts which have been awarded a 5-star rating by Canstar in 2019.

Company name Product name

Heartland Bank

Direct Call Account

NZCU Baywide

Online Saver

Note: To be eligible for assessment by Canstar, the savings account must offer a base rate of 0.10% or higher, on a balance of $10,000.

Regular Saver

To be a regular saver, you are probably pretty dedicated to growing your savings and are willing to meet stricter conditions, such as minimum deposit amounts, to achieve higher levels of interest on your savings.

Below you’ll see the Regular Saver accounts which have been awarded a 5-star rating by Canstar in May 2019:

Company name Product name

Heartland Bank

Direct Call Account

BNZ Bank

Rapid Save Account

How does Canstar award providers for savings accounts?

The award-winning accounts listed above provide outstanding value for different types of savings account holders.

Read Canstar’s detailed savings and transaction star ratings methodology for more information about what makes a 5-star rated savings account.

Discover more about the Savings Account Star Ratings with Canstar’s latest report

Find out how each savings account compared

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