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Savings accounts that return 2% or more

(Image: Getty)

The Reserve Bank has slashed rates to an all-time low this year, and it's likely to stay that way for a while yet.

While low interest rates are good news for borrowers, it's a struggle for those wanting to save and invest.

Many investors are so worried about the low-rate world and the global economic outlook that they're even willing to buy bonds that guarantee they'll lose money.

Fortunately, Australia hasn't quite reached the depths of negative interest rates on savings yet. But unless you're getting returns of at least 2 per cent per annum, your money is barely keeping up with inflation.

So Yahoo Finance asked comparison site InfoChoice to do the heavy lifting to come up with the golden list of all the products currently available that return 2 per cent or more. The list excludes temporary promotional interest rates.

Here are the savings accounts:

Rabobank Online Savings Notice Saver (2 to 2.2%)

What is it? There are actually three products at Rabobank that offer 2 per cent or more – Rabobank Online Savings 90-Day Notice Saver (2.2 per cent), 60-Day Notice Saver (2.05 per cent) and 31-Day Notice Saver (2 per cent).

The catch is that if you want to withdraw your money, it cannot be done immediately. Rabobank requires advance notice according to the account. The 90-day account, while requiring customers to wait three months for their money, returns the best compensation.

Community First Credit Union: Matrimoney (3%)

What is it? Community First Credit Union is offering an industry-leading 3 per cent return on its Matrimoney account. The product is designed to be used as a safe "wishing well" at weddings and even provides free registry cards to be included with invitations.

The catch is that customers need to be a couple getting married.

Greater Bank: Life Saver (2.5%)

What is it? Newcastle-origin mutual Greater Bank will give you back 2.5 per cent per annum on money parked in its Life Saver account.

The catch here is that the account can only be opened by customers aged under 25 and the child needs to add more to the balance than withdraw each month to receive the high interest.

Parents can open this account on behalf of their children.

Gateway Bank: Funeral Saver (2.25%)

What is it? We've been a kid and been through a wedding to get high interest rates. Now it's time to save up for your funeral with 2.25 per cent per annum.

The catch with Gateway Bank's funeral saver is that a minimum monthly deposit of $25 is required and the balance needs to be $200 or more to score the high interest. The money can then be accessed immediately for funeral-related expenses, but seven days notice must be given for all other purposes.

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