Saving for a home

When you're saving for a home, every little bit counts. We understand that saving a deposit can be hard work. It takes time to save and discipline to stay focused on the end goal. By sticking to a budget and starting a regular savings plan, you'll be on your way toward the ultimate goal of home ownership.

Saving for a deposit

Before you start saving it pays to work out a budget. It will help you put away the maximum amount you can afford each week or month. Our comprehensive budget planner calculator can help you with this.

The next step is to look for a savings account that will pay high interest so your money works even harder. The NetBank Saver online savings account offers high interest with no bank fees*. The GoalSaver savings account rewards you for saving, whether you're a new or existing customer. It offers a great variable bonus interest rate that keeps on going when you increase your balance by at least $200 a month (excluding interest) and make no more than one withdrawal. 

You should also consider a Term Deposit which is an investment that provides a guaranteed return for the term you select. A Cash Investment Account could also be the ideal place to grow your funds while you save for a deposit, offering daily interest on balances of $10,000 or more with full access to your money when you're ready to invest again.Compare the rates, features and fees of these 4 accounts with our comparison table.

Find out what you should also consider by reading our complete step-by-step guide to buying a home.

Need a Home Loan?

Find out how much you can borrow with our useful calculator.

Explore the market with Investorville

Experience risk-free real estate with our property investment simulator. Learn about market conditions, capital gains and property management, and experiment with your equity to see how you can get ahead. Get started with Investorville.

Protect what's important

A house is likely to be your most valuable asset and it's essential you protect it. CommInsure has a range of home and contents insurance options that you can tailor to match your budget and lifestyle.

• Important information
  *Fees may apply to your linked transaction account.
  
  The advice on this website has been prepared without considering your objectives, financial situation or needs.  Because of that, you should, before acting on the advice, consider its appropriateness to your circumstances. Please view our Financial Services Guide (PDF 68KB).
  
  Terms and conditions for the transaction and savings accounts mentioned and Term Deposits are available online or from any branch of the Commonwealth Bank.
  
  CommInsure is a registered business name of Commonwealth Insurance Limited (CIL) ABN 96 067 524 216 AFSL 235030, a wholly owned but non-guaranteed subsidiary of Commonwealth Bank of Australia.