7 ASX 200 large-cap shares offering better yields than savings accounts

RateCity says there are now nine savings accounts on its panel paying 5.5% interest or more per annum.

A builder or miner stretches a measure tape above his head, indicating something is big.

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

It's been a long time since savings accounts offered interest rates remotely close to the yields of the biggest and most reliable ASX 200 dividend shares.

This is because the official cash rates of the world's largest economies had been trending down for more than a decade before last year's hiking cycle began in response to rising inflation.

During that period of falling rates between 2011 and 2022, the interest rates on many savings accounts barely covered the Reserve Bank of Australia's targeted annual inflation band of 2% to 3%.

In short, it made cash a pretty useless investment vehicle for a while.

Now, times have changed.

RateCity recently announced it has nine savings accounts on its panel paying interest rates of 5.5% or more.

This is especially interesting given inflation in Australia has been falling and is currently tracking at 5.2%.

Even if cash investment yields are now above inflation, there are no prospects for capital growth. And the yield you'll receive each year will barely maintain your spending power at the level it's at today.

The best ASX 200 dividend shares offer high and growing yields, and potential for a bit of capital growth.

The most reliable ASX 200 dividend shares are typically large-cap stocks. This is because they represent well-established businesses that can deliver strong revenue in any sort of economic backdrop.

The large-cap shares of the ASX 200 have a minimum market capitalisation of $10 billion.

ASX 200 dividend shares offering better yields than 5.5%

Here are seven ASX 200 large-cap shares with trailing dividend yields that are significantly higher than the 5.5% you can currently get investing cash in the bank.

Bear in mind that trailing dividend yields are based on the dividend amounts paid in the previous year.

Dividend amounts are determined by profits. Some companies' earnings fluctuate significantly from year to year based on moving variables like commodity prices.

ASX 200 DIVIDEND SHAREDIVIDEND YIELDPAID PER SHARE
Woodside Energy Group Ltd (ASX: WDS)9.4%339.74 cents
Fortescue Metals Group Ltd (ASX: FMG)8.1%175 cents
APA Group (ASX: APA) 6.7%55 cents
Westpac Banking Corp (ASX: WBC)6.2%134 cents
ANZ Group Holdings Ltd (ASX: ANZ)6%155 cents
Pilbara Minerals Ltd (ASX: PLS) 6.1%25 cents
BHP Group Ltd (ASX: BHP)5.7%261.43 cents
Yields on these ASX 200 dividend shares have been calculated based on share prices at the time of writing

Should you invest $1,000 in Vanguard Australian Shares Index Etf right now?

Before you buy Vanguard Australian Shares Index Etf shares, consider this:

Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now... and Vanguard Australian Shares Index Etf wasn't one of them.

The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

And right now, Scott thinks there are 5 stocks that may be better buys...

See The 5 Stocks *Returns as of 30 April 2025

Motley Fool contributor Bronwyn Allen has positions in Anz Group, BHP Group, Fortescue Metals Group, Westpac Banking Corporation, and Woodside Energy Group. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has positions in and has recommended Apa Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Dividend Investing

A woman sits at her computer with her chin resting on her hand as she contemplates her next potential investment.
Dividend Investing

Hunting for passive income? Here's everything you need to know about the latest NAB dividend

NAB revealed its interim dividend payout this morning.

Read more »

A couple makes silly chip moustache faces and take a selfie on their phone.
Dividend Investing

I think these 2 high-yield ASX dividend shares are buys in May

These businesses offer significant passive income.

Read more »

Wife and husband with a laptop on a sofa over the moon at good news.
Dividend Investing

2 ASX dividend stocks to buy for juicy 5% to 8% yields

These shares are being named as buys for income investors by brokers.

Read more »

Man pointing an upward line on a bar graph symbolising a rising share price.
Dividend Investing

3 growing ASX dividend shares to buy and hold

Analysts are feeling positive about these shares. Let's see what they are forecasting for them.

Read more »

Joyful woman at a beach on the Gold Coast with her arms spread out.
How to invest

How to bank $10,000 a year in passive income from these 3 top ASX shares

Here’s how I’d go about building a $10,000 passive income stream from these top ASX stocks.

Read more »

A woman relaxes on a yellow couch with a book and cuppa, and looks pensively away as she contemplates the joy of earning passive income.
ETFs

3 ASX ETFs to buy for passive income in May

Don't like stock picking but want passive income? Here are three funds that could help you.

Read more »

A businesswoman on the phone is shocked as she looks at her watch, she's running out of time.
Bank Shares

Want to bag the next Westpac shares dividend? Better be quick…

Westpac will pay an interim dividend of 76 cents per share next month.

Read more »

supermarket asx shares represented by shopping trolley in supermarket aisle
Dividend Investing

Should I buy Coles shares for their reliable passive income?

We take a look at Coles’ passive income credentials and the potential for share price gains.

Read more »