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Commonwealth Bank

Commonwealth Bank savings accounts

Commonwealth Bank offers a range of savings account options, each one offering different features and benefits to better suit different savers.

Commonwealth Bank’s NetBank Saver account provides unlimited transfers to and from a CommBank everyday Smart Access transaction account. The GoalSaver savings account rewards you for making progress towards your savings goals by offering a bonus to your variable interest rate each month you deposit at least $200 and make no withdrawals. This extra incentive can help encourage you to build up your savings over time and make progress towards your saving goals. The Youthsaver savings account is available for Australians under 18 years old, and can help children learn about saving and financial discipline by offering bonus interest if they are regular savers.

Commonwealth Bank also offers term deposits, credit cards, personal loans, home loans, insurance, superannuation and financial planning. Commonwealth Bank has operations in Australia, New Zealand, Asia, Europe and North America.

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Nick Bendel avatar
Nick Bendel
Property & Personal Finance Writer
Content updated10 May, 2021
Product data updated
Fact Checked

Important disclosure

Why choose Commonwealth Bank

Benefits

  • No monthly fees

Drawbacks

  • Maximum interest rate comes with conditions

Commonwealth Bank Savings Accounts

Starting deposit

$

Monthly deposit

$

For time period (in months)

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4.90%*

0.40%

$26*

$278*

GoalSaver
  • Bonus interest with conditions
  • App banking
  • Online banking

5.00%*

2.60%

variable

$27*

$284*

Youthsaver Account
  • Bonus interest with conditions
  • App banking
  • Online banking

5.10%

2.35%

$24

$193

NetBank Saver
  • Intro offer rate
  • App banking
  • Online banking
  • Linked account required

0.05%

0.05%

variable

-

$3

Pensioner Security Account
  • App banking
  • Online banking

Savings Accounts calculator

Use our savings account calculator to see how much you can earn under different investment scenarios.

$
$
months

Your monthly interest earned would be

at interest rate 5.10 %

Total interest earned

$289

Total amount

$6,489

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^Words such as "top", "best", "cheapest" or "lowest" are not a recommendation or rating of products. This page compares a range of products from selected providers and not all products or providers are included in the comparison. There is no such thing as a 'one- size-fits-all' financial product. The best loan, credit card, superannuation account or bank account for you might not be the best choice for someone else. Before selecting any financial product you should read the fine print carefully, including the product disclosure statement, target market determination fact sheet or terms and conditions document and obtain professional financial advice on whether a product is right for you and your finances.