The boring layer. Where wealth gets protected while it’s being deployed.

5.35% p.a. for 12 months, $5,000 minimum, interest at maturity. Currently the top 12-month rate from a Big-bank-tier ADI on the major databases.

5.40% at 2 years, 5.40% at 3 years, 5.50% at 4 years. Pure-play SME bank; FCS-covered ADI. Long-duration leader for laddered or set-and-forget retirement income.

5.60% p.a. for 5 years — current highest long-term rate on the market. Useful for retirement-income laddering. Dutch-owned, Australian ADI, FCS-covered.

5.50% at 5 years for customers aged 55+, $5,000+ deposit, interest end-of-term. Age-restricted special rate — strong retirement-income option.

5.15% p.a. at 12 months for deposits between $25k and $10M. Higher minimum than Macquarie/Judo, but a familiar AMP brand with full ADI status.

5.40% p.a. at 12 months, interest at maturity. Open to all Australians despite the name. Mutual ADI, FCS-covered.

5.20% at 2 years, 5.10% at 3 years. Customer-owned, climate-active. Mid-term sweet spot for ladder buyers.

5.25% p.a. for 5 months — short-term special, useful for cash that needs to wait 4-6 months. WA-based mutual, FCS-covered.

Big 4 banks consistently lag the digital/mid-tier challengers on TD rates — typically 4.50-5.00% on 12 months in June 2026. Convenience and existing-relationship is what you trade for the lower rate. All FCS-covered.

NZ-Australia digital bank. Generally mid-pack but consistently above Big 4 on 6 and 12-month terms. FCS-covered ADI.

NAB-owned digital bank. Flat ongoing rate, no monthly hurdles. Headline below the top-bonus HISAs but paid on every balance, every month. FCS-covered via NAB.

After the 4-month intro, ING Savings Accelerator pays a tiered ongoing rate — higher rates on higher balance tiers. No bonus conditions.

App-only digital bank backed by Bendigo Bank's ADI licence. Maybuy savings goals and Round Ups make it strong for FIFO/shift-work savers. FCS-covered via Bendigo.

Aimed at under-35s. Tiered structure — higher rate on first ~$5k, lower above. Pairs naturally with Spaceship Voyager for investing.

Macquarie's everyday transaction account also pays interest at a flat rate — unique among Big-bank-tier transaction accounts. Useful as a high-balance hub.

Pearler brokerage's cash product. Not an ADI itself — cash held with underlying ADI partner. Read disclosure carefully; check FCS coverage on the specific partner.

Running yield 6.06%. Australian bank Tier-2 subordinated debt — higher yield than senior bank debt, lower in the capital stack. BBB+ average rating, 19 holdings. 0.29% MER.

Renamed 31 March 2026 from “Active Australian Hybrids”. Now actively managed diversified credit — cash, senior + subordinated bonds, hybrids. Reflects APRA's phase-out of AT1 bank hybrids by 2032. Monthly income, 0.55% MER, ~$2.3B AUM.

Running yield 5.14%. Australian bank floating-rate notes — coupons reset quarterly with BBSW. AA- credit rating, 80% Big 4 + 20% other major Australian banks. 0.22% MER. Minimal duration risk.

Running yield 5.07%. Australian-dollar IG floating-rate notes. AA- average rating, 196 holdings — more diversified than QPON's 12. 0.22% MER. Coupons reset with BBSW.

Highest-yielding investment-grade AUD corporate bonds. Targets the upper end of the IG universe for yield enhancement. ~5-year duration. Useful in “risk-on credit” allocation.

Australian investment-grade corporate bonds, ~5-year duration. 0.25% MER. Higher yield than government bonds but with credit risk.

Active ETF (Cboe-listed) targeting high-yielding Australian credit including subordinated debt. Positioned as substitute for AT1 bank hybrids being phased out by 2032. Defensive credit focus.

Passive Big-4-only hybrid index ETF. Pure Big-4 hybrid exposure — but new issuance is being phased out by APRA to 2032 (structural tailwind for existing supply, structural headwind for new).

$3.62B AUM — largest Australian bond ETF. Bloomberg AusBond Composite. ~7-year duration. 0.10% MER. Defensive ballast for the AU bond core.

$3.45B AUM, 0.10% MER. ~7-year duration. AGS, semi-government and IG corporate. Vanguard's broad AU bond ETF — direct competitor to IAF.

Pure AGS/semi-government exposure. ~7-year duration. 0.16% MER. Cleaner credit profile than the broad composites. $1.33B AUM.

Pure AGS/semi-government — no corporate credit. 0.22% MER. Longer duration (~9 years) than the broad indices, so more rate-sensitive. Underperformer in 2022-2024 hike cycle.

$3.9B AUM but -4.0% over 5 years — strong reminder that flows follow brand, not returns. Global IG bonds, AUD-hedged. 0.20% MER. Diversifies AU concentration but suffered from duration drag.

Running yield 8.61% — highest in this list. Active managed fund (not strictly ETF). 1% MER, A-rated average. Higher activity, leverage. For investors comfortable paying for active credit selection.

ESG-screened global bond ETF, AUD-hedged. 0.39% MER. For ESG-aligned bond allocation. Smaller AUM than VBND but similar global IG exposure profile.

FCS protects deposits up to $250,000 per account-holder per ADI. $300k across two CBA accounts is only $250k covered — same ADI. Spread across multiple ADIs to multiply coverage.

Covered: transaction, savings and term deposits at Australian ADIs. NOT covered: investment products, hybrids, bonds, cash ETFs (which hold deposits but aren't themselves ADI deposits), foreign-bank deposits, La Trobe-style credit funds.

Before opening at an unfamiliar bank, verify it's an Australian ADI via APRA's register. Many overseas-branded “banks” operating in Australia are NOT Australian ADIs.

Multiple banks sit under one ADI licence. CBA owns Bankwest. NAB owns UBank. Westpac owns St.George, Bank of Melbourne and BankSA. Funds at sister brands share the same $250k limit.

On a joint account, each holder gets their own $250k limit — a couple can hold $500k jointly at one ADI under FCS. Children's accounts each have their own limit too.