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Cash Park Index

Between investments

Where should Aussies park cash between investments?

A high interest savings account, a term deposit, and a cash ETF can all be described as cash. They are not the same product. This board puts the published rate next to the condition, the government guarantee, and the page it came from.

We do not tell you what to buy. We line up what the issuers printed, and we date it. Checked 24 October 2026. 21 rows, each with a source.

The board

21 of 21 products. The large number is the figure the issuer leads with. Read the lines under it before you compare two rows.

HISAIntroductory

ubank Save

ubank

Welcome and everyday bonus rates apply to total savings up to $1 million per customer. Above $1 million the published tier is 0.00% p.a.

Checked 24 October 2026

Rate

6.25%p.a.

Welcome bonus rate for up to 4 months, on combined Save balances up to $1 million, if you join from 9 October 2026 and qualify. ubank describes it as the everyday bonus rate plus a 0.90% p.a. fixed margin.

Issuer date 9 October 2026. Product page: rates shown current as at 9 October 2026. The fixed margin is described on ubank's welcome-rate help page.

Then 5.35% p.a. Everyday bonus rate after the welcome period, on combined Save balances up to $1 million, and only in months you still meet the test. Balances over $1 million earn 0% p.a. The 0.90% p.a. welcome margin does not decrease once applied, but the everyday rate under it is variable, so the 6.25% total can still change.

If the test is missed: 0.00% p.a. No interest in a month you miss the test. ubank lists the base rate as N/A and says no base rate applies.

Access

At-call Save account. Withdrawals are allowed. A withdrawal only costs you the bonus if the combined Save balance has not grown by at least $1, excluding interest, by 11:30pm Sydney time on the last day of the month. You also need a Spend account. Interest credits do not count toward the $1.

Guarantee

FCS deposit

Eligible deposits up to $250,000 per account holder, per ADI, if that ADI fails. The scheme does not lock the interest rate.

Bonus trap

The 6.25% p.a. figure is a welcome rate for up to four months, not the ongoing rate. After that, 5.35% p.a. still depends on a monthly test. Miss the test and ubank pays no interest for that month. The welcome is only described for people who are eligible and join from 9 October 2026.

HISAIntroductory

Easy Saver

Bankwest

Headline intro and ongoing rates are for balances up to $250,000.99. Higher balances use the lower tier on the rate card. One account per customer, not available for joint accounts.

Checked 24 October 2026

Rate

6.00%p.a.

Variable introductory rate for the first 4 months, on balances up to $250,000.99. New accounts only, and not if you have had an Easy Saver introductory rate that expired in the last two years.

Issuer date 9 October 2026. Bankwest's 2 October 2026 rates announcement set the intro at 6.00% p.a. and the ongoing rate at 5.25% p.a., effective 9 October 2026, for balances up to $250,000.99. The savings rate card showed the same tiers when checked on 24 October 2026. The rate card itself did not print a separate as-at line.

Then 5.25% p.a. Ongoing standard variable rate on balances up to $250,000.99. No monthly deposit or withdrawal test. On balances of $250,001 and over, the rate card shows 5.05% p.a. during the four-month intro and 2.35% p.a. after it.

Access

At-call. No monthly deposit or withdrawal requirement to earn the published Easy Saver rates. Must be linked to a Bankwest Easy Transaction account. The introductory offer can be withdrawn for new accounts.

Guarantee

FCS deposit

Eligible deposits up to $250,000 per account holder, per ADI, if that ADI fails. The scheme does not lock the interest rate.

Bonus trap

6.00% p.a. lasts four months, and the rate is variable during those months. It is not available if you have already had the intro in the last two years. The ongoing rate on the first $250,000.99 is 5.25% p.a. with no monthly test. Above $250,001 the ongoing rate on the card is 2.35% p.a.

HISABonus rate

Savings Maximiser

ING

One nominated Savings Maximiser per customer, on balances up to $100,000. Amounts above $100,000 earn the 0.01% p.a. standard variable rate. New applications close on 1 December 2026. Existing accounts can stay open.

Checked 24 October 2026

Rate

5.75%p.a.

Highest variable rate on one nominated Savings Maximiser, balances up to $100,000: 0.01% p.a. standard variable rate plus 5.74% p.a. additional variable rate. The additional rate, once earned, applies in the next calendar month.

Issuer date 9 October 2026. ING rate announcement: effective from 9 October 2026. Increased from 5.50% p.a.

If the test is missed: 0.01% p.a. Standard variable rate if the monthly test is missed, and on any amount above $100,000.

Access

At-call, but the extra rate has a monthly test: hold an Orange Everyday account, deposit at least $1,000 from an external source into an eligible ING account in your name, make 5 settled card purchases (not pending, and not ATM, cash out, or balance enquiries), and grow the nominated balance excluding interest. The extra rate is paid the following month, not the month you qualify.

Guarantee

FCS deposit

Eligible deposits up to $250,000 per account holder, per ADI, if that ADI fails. The scheme does not lock the interest rate.

Bonus trap

Miss any part of the test and the rate for that next month is 0.01% p.a., not 5.75% p.a. The high rate is also capped at $100,000. ING can change or withdraw the additional rate. This account stops taking new applications on 1 December 2026.

HISABonus rate

Savings Booster

ING

Boost rate applies on balances up to $500,000. Base rate applies up to $2 million. Nothing is paid on the portion above $2 million.

Checked 24 October 2026

Rate

5.65%p.a.

Base rate 2.50% p.a. plus boost rate 3.15% p.a., on balances up to $500,000, in a month the balance ends at least $100 higher than the previous month, excluding interest.

Issuer date 9 October 2026. ING rate announcement: effective from 9 October 2026.

Separate welcome rate, not included in the 5.65% figure: 0.60% p.a. on top, for 4 months from opening, on balances up to $500,000, if you and any joint holder have not previously held a personal ING savings account. ING's worked example of base + boost + welcome is 6.25% p.a.

If the test is missed: 2.50% p.a. Base rate of 2.50% p.a. on balances up to $2 million if the balance does not grow by $100. No interest on any portion over $2 million. Between $500,000 and $2 million, only the base rate applies even when the boost test is met.

Access

At-call. The boost is assessed at the end of the month. Interest credited during the month does not count toward the $100 growth test.

Guarantee

FCS deposit

Eligible deposits up to $250,000 per account holder, per ADI, if that ADI fails. The scheme does not lock the interest rate.

Bonus trap

The 6.25% p.a. stack is a 4-month welcome for people new to ING personal savings, and only while the boost test is also met. The ongoing eligible rate on this row is 5.65% p.a. up to $500,000. Miss the $100 growth test and the published rate is the 2.50% p.a. base. Savings Maximiser is a different ING account and is listed separately.

HISABonus rate

Personal Savings Account

Judo Bank

Tiered on the portion of the balance, not one rate on the whole account. With the bonus: 5.60% p.a. on $1–$250,000, 5.10% p.a. on $250,001–$2,000,000 (0.05% base + 5.05% bonus), and 0.05% p.a. above $2,000,000.

Checked 24 October 2026

Rate

5.60%p.a.

Total variable rate on the portion of the balance from $1 to $250,000 when the monthly deposit is made: 0.05% p.a. base plus 5.55% p.a. bonus.

Issuer date 7 October 2026. Judo's Personal Savings page: rates current as of 7 October 2026.

If the test is missed: 0.05% p.a. Base variable rate for that month if you do not deposit at least $300. The base rate on the published tiers is 0.05% p.a.

Access

At-call. Withdrawals do not, on Judo's description, remove the bonus. The test is a deposit of $300 or more during the calendar month. No linked account and no card-purchase test, on the product page. Interest is calculated daily and paid on the last calendar day of the month.

Guarantee

FCS deposit

Eligible deposits up to $250,000 per account holder, per ADI, if that ADI fails. The scheme does not lock the interest rate.

Bonus trap

Skip the $300 deposit and the month pays 0.05% p.a. The 5.60% p.a. figure is only the first tier. A balance over $250,000 does not earn 5.60% on the whole amount.

Term depositFixed term

Personal Term Deposit — 12 months

Judo Bank

Personal term deposit, individual or joint. The minimum deposit was not printed in the rate table we read. Check the issuer page for the minimum before applying.

Checked 24 October 2026

Rate

5.55%p.a.

Fixed rate for a 1-year personal term deposit, interest paid at maturity. The same page lists 5.45% p.a. if interest is paid monthly.

Issuer date 15 October 2026. Judo: interest rates current as at 15 October 2026, and the rate can change before an application is accepted. The rate that applies is the one on the day the account is opened. You then have 10 calendar days to fund it.

Access

Locked for the term. This row does not restate early-break rules because the rate table did not set them out. Read the term deposit terms before you lock money you might need.

Guarantee

FCS deposit

Eligible deposits up to $250,000 per account holder, per ADI, if that ADI fails. The scheme does not lock the interest rate.

Bonus trap

The rate is fixed once the deposit is opened and funded, which is the point of the product. It is not an at-call rate. A monthly-interest option on the same page is 5.45% p.a., not 5.55% p.a.

HISAIntroductory

iSaver

NAB

Balances up to $20 million for customers who have not held an iSaver in the previous 12 months.

Checked 24 October 2026

Rate

5.50%p.a.

Total introductory rate for the first 4 months: 1.85% p.a. standard variable rate plus a 3.65% p.a. fixed bonus margin. Only if you have not held a NAB iSaver in the last 12 months, on balances up to $20 million.

Issuer date 19 October 2026. NAB indicator rates for deposit products, dated Monday 19 October 2026. The increase was announced effective 9 October 2026. The iSaver product page shows the same split.

Then 1.85% p.a. Standard variable rate after four months, and from day one if you are not eligible for the intro. Where there are joint holders, every holder has to be eligible. The intro applies to one account — the first eligible account opened.

Access

At-call online saver linked to a NAB transaction account. No monthly deposit or withdrawal test. You can open more than one iSaver, but extra accounts opened during the intro period earn the standard variable rate.

Guarantee

FCS deposit

Eligible deposits up to $250,000 per account holder, per ADI, if that ADI fails. The scheme does not lock the interest rate.

Bonus trap

After four months the published rate is 1.85% p.a., not 5.50% p.a. The intro is also refused if you have held an iSaver in the last year. There is no bonus test to 'win back' the higher rate afterwards.

HISAIntroductory

NetBank Saver

CommBank

First NetBank Saver only, for accounts opened from 9 October 2026. Offer is for a limited time and can be withdrawn for new accounts.

Checked 24 October 2026

Rate

5.50%p.a.

Variable introductory rate for the first 5 months of your first NetBank Saver, opened from 9 October 2026: 2.30% p.a. standard variable rate plus a 3.20% p.a. fixed margin.

Issuer date 9 October 2026. CommBank NetBank Saver page and the 2 October 2026 savings rate announcement. The comparison table says rates current as at 9 October 2026.

Then 2.30% p.a. Standard variable rate after the five months. There is no monthly deposit test on either rate. The intro does not apply to a joint account if one holder has already had a NetBank Saver. CommBank says the five-month clock can start up to 15 days after opening, when interest calculations start.

Access

At-call online savings account. No monthly deposit or withdrawal test is published for this rate. Interest is calculated daily and paid on the first calendar day of the month.

Guarantee

FCS deposit

Eligible deposits up to $250,000 per account holder, per ADI, if that ADI fails. The scheme does not lock the interest rate.

Bonus trap

5.50% p.a. is a five-month introductory rate for a first NetBank Saver. The standard variable rate under it is 2.30% p.a. The margin is fixed for the intro, but the standard variable portion can still change, and so can the rate you land on afterwards.

HISABonus rate

ANZ Plus Growth Saver

ANZ Plus

The total rate is described as applying to the ANZ Plus Growth Saver balance. This page did not publish a lower cap for the bonus. Check the current rate page if your balance is large.

Checked 24 October 2026

Rate

5.35%p.a.

Total rate: 0.10% p.a. standard plus 5.25% p.a. bonus, when the Growth Saver balance grows by $100 or more in the month, on top of interest.

Issuer did not print an as-at date. ANZ's personal savings accounts page showed 5.35% p.a., 0.10% p.a. and 5.25% p.a. when checked on 24 October 2026. That page did not print an as-at date.

If the test is missed: 0.10% p.a. Standard rate of 0.10% p.a. on the total Growth Saver balance in a month the $100 growth test is missed.

Access

At-call inside ANZ Plus. The bonus uses the effective daily balance at 11:59pm Melbourne time on the last business day of the month. The balance has to be at least $100 higher than the previous month's last business day, excluding interest you received. No monthly account service fee, on ANZ's page. No card-purchase test is published for this bonus.

Guarantee

FCS deposit

Eligible deposits up to $250,000 per account holder, per ADI, if that ADI fails. The scheme does not lock the interest rate.

Bonus trap

Miss the $100 growth test and the month is 0.10% p.a. ANZ did not print a date next to the 5.35% figure, so confirm the live page before you move money.

Term depositFixed term

Digital Term Deposit — 12 months

Macquarie Bank

Individual or joint accounts. Minimum investment $25,000. Deposits over $1 million are on a lower card: 5.25% p.a. for 1 year, interest at maturity. Opening several similar term deposits close together can, Macquarie says, result in the lower rate being applied across the combined balance.

Checked 24 October 2026

Rate

5.35%p.a.

Fixed rate for a 1-year Macquarie Digital Term Deposit, interest paid at maturity, on deposits of $1 million or under.

Issuer did not print an as-at date. The Macquarie term deposit page showed this rate when checked on 24 October 2026. The page said rates are subject to change and did not print an as-at date. The rate is confirmed at account opening.

Access

Fixed term of 3, 6, 9, or 12 months only on the digital product. At maturity, funds go to the linked account. They do not roll into a new term on their own. Breaking early needs at least 31 days' notice, and interest is not earned during the notice period.

Guarantee

FCS deposit

Eligible deposits up to $250,000 per account holder, per ADI, if that ADI fails. The scheme does not lock the interest rate.

Bonus trap

You cannot treat this as at-call. Early access costs the interest accrued during the 31-day notice period, on Macquarie's description of the digital term deposit. There is no monthly bonus test.

Term depositFixed term

Term Deposit — 12 months

CommBank

Balances from $5,000 to $5,000,000. Personal customers and SMSFs, on the rate sheet. Interest paid at maturity.

Checked 24 October 2026

Rate

5.30%p.a.

Special offer fixed rate for a 12-month term deposit, interest paid at maturity (annually on a one-year term).

Issuer date 18 September 2026. CommBank term deposit rate sheet: interest rates current as at 18 September 2026. That date is before the 30 September 2026 cash rate rise. CommBank's savings page still showed 'Lock in 5.30% p.a. for 12 months' when checked on 24 October 2026, available from 18 September 2026 for a limited time. Confirm the live term deposit rate before you lock a term.

Access

Locked for 12 months. Early break terms were not copied onto this row. Read the term deposit terms before you open one.

Guarantee

FCS deposit

Eligible deposits up to $250,000 per account holder, per ADI, if that ADI fails. The scheme does not lock the interest rate.

Bonus trap

This special was dated 18 September 2026, then the cash rate target rose on 30 September. The marketing line was still 5.30% p.a. on 24 October 2026, but the rate sheet is older than the cash rate move. Check CommBank's current term deposit rates on the day you open it.

HISABonus rate

GoalSaver

CommBank

The published card shows 5.25% p.a. with bonus on each listed tier, including $1 million and over. One rate applies to the whole balance.

Checked 24 October 2026

Rate

5.25%p.a.

Total variable rate with bonus interest: 0.10% p.a. standard plus 5.15% p.a. bonus. One bonus rate applies to the entire balance.

Issuer date 9 October 2026. GoalSaver page last updated 9 October 2026. CommBank's account comparison table says the rates are current as at 9 October 2026. The standard rate was unchanged at 0.10% p.a. The bonus rose from 4.90% p.a.

If the test is missed: 0.10% p.a. Standard variable rate of 0.10% p.a. in a month the bonus conditions are missed.

Access

At-call in NetBank and the CommBank app. No monthly account-keeping fee, on the product page. To earn the bonus: make at least one deposit of any amount in the calendar month, and end the month with a higher balance than you started. A withdrawal is allowed if deposits for the month are larger. Interest paid in, and bank or government fees, do not count as deposits or withdrawals for the test.

Guarantee

FCS deposit

Eligible deposits up to $250,000 per account holder, per ADI, if that ADI fails. The scheme does not lock the interest rate.

Bonus trap

Fail the grow-your-balance test and the month pays 0.10% p.a. on the whole balance. The 5.25% p.a. figure already includes the bonus. It is not an extra 5.25% on top.

HISABonus rate

Reward Saver

NAB

The indicator-rate card shows 5.25% p.a. total on every listed tier from $1 up to $1,000,000 plus.

Checked 24 October 2026

Rate

5.25%p.a.

Total interest rate: 0.01% p.a. variable base plus 5.24% p.a. variable bonus, when the monthly test is met.

Issuer date 19 October 2026. NAB indicator rates for deposit products, dated Monday 19 October 2026. The same total is on the Reward Saver page. NAB announced the increase to 5.25% p.a. effective 9 October 2026.

If the test is missed: 0.01% p.a. Variable base rate if you do not deposit in time, or if you withdraw during the month.

Access

At-call, with a hard monthly test: at least one deposit, of as little as $1, on or before the second last banking day of the month, and no withdrawals in the month. A banking day is not a Saturday, Sunday, or Australia-wide public holiday. For October 2026, NAB lists the second last banking day as Thursday 29 October. Interest is calculated on the daily closing balance and paid on the last banking day of the month.

Guarantee

FCS deposit

Eligible deposits up to $250,000 per account holder, per ADI, if that ADI fails. The scheme does not lock the interest rate.

Bonus trap

Any withdrawal during the month drops that month to 0.01% p.a. Depositing the money back does not repair it. The deposit also has to land on or before the second last banking day, which is not the last calendar day.

HISAOngoing variable

Savings Account

Macquarie Bank

Stepped rates, each applying only to its slice of the balance: 5.25% p.a. up to $250,000, 5.05% p.a. from $250,000.01 to $2 million, and 4.60% p.a. above $2 million. From 1 November 2026 the brackets are split more finely. Macquarie's notice shows the same three rates on the new brackets.

Checked 24 October 2026

Rate

5.25%p.a.

Ongoing variable rate on the portion of the balance up to $250,000. No monthly deposit or withdrawal test.

Issuer date 15 October 2026. Macquarie Savings Account page: ongoing rates current as of 15 October 2026.

Access

At-call. No monthly conditions and no Macquarie fees on the savings account, on Macquarie's page. Interest is calculated daily on the closing balance and paid monthly. The welcome-rate offer ended at 11:59pm AEST on 14 September 2026.

Guarantee

FCS deposit

Eligible deposits up to $250,000 per account holder, per ADI, if that ADI fails. The scheme does not lock the interest rate.

Bonus trap

There is no bonus hurdle on this rate. The 5.25% p.a. is not paid on money above $250,000. That slice earns the next stepped rate. Rates are variable.

HISABonus rate

Westpac Life

Westpac

The product page does not publish a lower balance cap on the 5.25% p.a. total. A separate Spend&Save bonus for ages 18–40 is not included on this row, because the page we read still showed a bonus split that does not match the 9 October Life increase.

Checked 24 October 2026

Rate

5.25%p.a.

Total variable rate with bonus interest: 0.10% p.a. standard variable base plus 5.15% p.a. standard variable bonus.

Issuer date 9 October 2026. Westpac's 30 September 2026 media release: Life total variable rate with bonus interest increases by 0.25% p.a. to 5.25% p.a., effective 9 October. The Life product page showed 5.25% p.a., made up of 0.10% and 5.15%, when checked on 24 October 2026. The product page did not print its own as-at date.

If the test is missed: 0.10% p.a. Standard variable base rate of 0.10% p.a. when the bonus steps are missed.

Access

At-call savings account. Three steps each month for the bonus: balance does not fall below $0, at least one deposit (interest paid in does not count), and the balance on the last business day of the month is higher than on the last business day of the previous month. Interest is calculated up to the second last business day and paid on the last business day. Westpac's rates page says these savings accounts need to be linked to an eligible transaction account.

Guarantee

FCS deposit

Eligible deposits up to $250,000 per account holder, per ADI, if that ADI fails. The scheme does not lock the interest rate.

Bonus trap

Miss a step and the rate is 0.10% p.a. What counts is the balance at 11:59pm Sydney time on the last business day, so a deposit that lands after that misses the month. This row is the standard Life bonus, not the extra Spend&Save rate.

Term depositFixed term

Digital Term Deposit — 6 months

Macquarie Bank

Individual or joint accounts. Minimum $25,000. Deposits over $1 million: 5.05% p.a. for 6 months, interest at maturity, on the same page.

Checked 24 October 2026

Rate

5.20%p.a.

Fixed rate for a 6-month Macquarie Digital Term Deposit, interest paid at maturity, on deposits of $1 million or under.

Issuer did not print an as-at date. The Macquarie term deposit page showed this rate when checked on 24 October 2026. The page did not print an as-at date. The rate is confirmed at account opening.

Access

Locked for 6 months. At maturity, funds move to the linked account rather than rolling over. Breaking early needs at least 31 days' notice, with no interest during the notice period.

Guarantee

FCS deposit

Eligible deposits up to $250,000 per account holder, per ADI, if that ADI fails. The scheme does not lock the interest rate.

Bonus trap

Shorter than the 12-month digital term deposit, and the published rate is lower. It is still not at-call. See the 12-month row for the same product's longer rate.

Cash ETFYield to maturity

Australian Cash Plus Active ETF (MMKT)

Betashares

Fund-level yield, not a rate on your balance. Management fee and costs 0.18% p.a. Portfolio statistics on the same date: weighted average maturity 78.0 days, modified duration 0.15 years, 53 issuers, average credit rating A-1. The September factsheet showed a lower net yield to maturity of 4.96% p.a. as at 30 September 2026. This row uses the later fund-page figure.

Checked 24 October 2026

Rate

5.03%p.a.

Yield to maturity net of fees. Betashares: the weighted average annualised yield on current holdings, net of management fees, assuming securities are held to maturity. Floating-rate estimates depend on future Bank Bill Swap Rate moves.

Issuer date 23 October 2026. Betashares fund page: yield to maturity net of fees 5.03% p.a. as at 23 October 2026. Gross yield to maturity on the same date is 5.21% p.a. The 12-month distribution yield is a different figure: 4.2% as at 30 September 2026.

Access

Buy and sell units on the ASX during market hours. Brokerage and the spread between the buy and sell price apply, and the traded price can differ from NAV. Monthly distributions. Settlement of a sale follows your broker. That is not the same as moving money out of a bank account the same day. The underlying securities are short, but you cannot redeem a unit with Betashares the way you withdraw a deposit.

Guarantee

Not a deposit

Units on the ASX, not a deposit. The Financial Claims Scheme does not apply.

Bonus trap

5.03% p.a. is an estimated yield to maturity, net of the management fee, not interest the fund has promised to pay you. It will move when holdings and bill rates move. The distributions actually paid over the year to 30 September 2026 were a 4.2% yield on NAV, which is lower. There is no bonus hurdle and no government guarantee.

Term depositFixed term

Personal Term Deposit — 6 months

Judo Bank

Personal term deposit. Minimum deposit was not printed in the rate table we read.

Checked 24 October 2026

Rate

4.95%p.a.

Fixed rate for a 6-month personal term deposit, interest paid at maturity. The same table lists 4.85% p.a. if interest is paid monthly.

Issuer date 15 October 2026. Judo: interest rates current as at 15 October 2026. The rate that applies is the one on the day the account is opened.

Access

Locked for 6 months. Early-break terms were not on the rate table, so they are not restated here.

Guarantee

FCS deposit

Eligible deposits up to $250,000 per account holder, per ADI, if that ADI fails. The scheme does not lock the interest rate.

Bonus trap

A 6-month term pays a lower published rate than Judo's 12-month personal term deposit on the same page. Monthly interest is 4.85% p.a., not 4.95% p.a.

Cash ETFNet cash yield

Australian High Interest Cash ETF (AAA)

Betashares

Fund-level yield. Management fee and costs 0.18% p.a. The fund holds bank deposits. You hold units in the fund, not those deposits in your own name.

Checked 24 October 2026

Rate

4.68%p.a.

Cash yield net of fees: the weighted average annualised yield receivable on current holdings, net of management fees.

Issuer date 23 October 2026. Betashares fund page: 4.68% p.a. as at 23 October 2026. A different measure, the 12-month distribution yield, is 4.1% based on distributions and the closing NAV as at 30 September 2026.

Access

Buy and sell on the ASX during market hours. Brokerage and the bid-ask spread apply. Monthly distributions. The fund's deposits are short-dated, but your own access is by selling units, on your broker's settlement timetable.

Guarantee

Not a deposit

Not a deposit in your name. The fund holds bank deposits; unitholders are outside the Financial Claims Scheme.

Bonus trap

The 4.68% p.a. figure is the yield on what the fund holds today, after the management fee. It is not a locked rate. Trailing distributions over the year to 30 September 2026 were 4.1%. The unit price can also move a little around income payments and around NAV.

Cash ETFTrailing yield

iShares Enhanced Cash ETF (ISEC)

iShares

Fund-level trailing yield. The fund aims to line up with, and may beat, Australian bank bills before fees. Holdings include higher-yielding short-term money market instruments and floating rate notes, so it is not the same portfolio as a deposit or as BILL.

Checked 24 October 2026

Rate

4.37%p.a.

12-month trailing yield published by iShares. This looks backward at distributions. It is not a forecast, and the product page does not label it as a yield net of fees.

Issuer date 22 October 2026. iShares product page: 12-month trailing yield 4.37% as of 22 October 2026. The September 2026 factsheet showed 4.24% as at 30 September 2026. This row uses the later product-page figure. Management fee in the PDS: 0.12% p.a.

Access

ASX-listed, monthly distributions. Brokerage and spread apply. iShares describes the exposure as highly liquid. Selling still goes through your broker, not through a bank withdrawal.

Guarantee

Not a deposit

Units on the ASX, not a deposit. The Financial Claims Scheme does not apply.

Bonus trap

4.37% is the last year of distributions, not the rate you will earn next month. A factsheet from a few weeks earlier printed 4.24%. The fund can hold floating rate notes, so the price can move by more than a pure bank-bill fund. No Financial Claims Scheme.

Cash ETFTrailing yield

iShares Core Cash ETF (BILL)

iShares

Fund-level trailing yield. The fund aims to provide the performance of the S&P/ASX Bank Bill Index before fees and expenses. iShares says it holds short-term money market instruments that can be sold the same day. That describes the fund, not your sale of units.

Checked 24 October 2026

Rate

4.18%p.a.

12-month trailing yield published by iShares. Backward-looking. Not labelled on the page as a forward cash yield or as a yield net of fees.

Issuer date 22 October 2026. iShares product page: 12-month trailing yield 4.18% as of 22 October 2026. Management fee in the PDS: 0.07% p.a. The page also showed unlabelled figures next to maturity statistics. Those are not used here, because the page extract did not name them.

Access

ASX-listed, monthly distributions. Brokerage and spread apply. Same-day liquidity of the underlying instruments is not the same as at-call access to your own money.

Guarantee

Not a deposit

Units on the ASX, not a deposit. The Financial Claims Scheme does not apply.

Bonus trap

Do not read 4.18% as the interest rate you will receive. It is the trailing distribution yield. iShares did not publish a current net cash yield on the page we used, so none is shown. No bonus rate and no Financial Claims Scheme.

HISA means high interest savings account. Sorting uses the large rate only. A 6% introductory rate is not a higher ongoing rate than a 5.25% account with no monthly test. Cash ETF yields are not deposit rates.

Not advice

The order of the table is a sort, not a ranking of what you should open. Your tax, your time horizon, and whether you will actually meet a bonus test are outside this page.

The guarantee

Deposit rows can fall under the Financial Claims Scheme, up to $250,000 per account holder, per ADI. Cash ETF rows are marked “not a deposit” because the scheme does not cover units.

The date

A rate without a date is a rumour. Each row names the issuer page and the day we opened it. If the issuer did not print an as-at date, the row says so.

Weekly note

Rates that actually changed

A short weekly email when a number on this board moves: the old figure, the new figure, and the link. No product pushes, and no “you should switch” line.

TODO: connect this to Beehiiv or Buttondown. No paid account has been created. The button only opens a draft in your email app, addressed to the placeholder inbox in the contact page.