Saving for your future

No-one knows what the future will bring but that doesn’t mean you can’t be prepared for it. Knowing you have money in the bank to fund your lifestyle or retirement provides peace of mind. No matter what stage in life you’re at, the sooner you start saving, the longer your money has to grow. We have a range of savings accounts and retirement accounts that will help fund your lifestyle.

Start with a budget

Before you can start saving, you need to work out a budget. It will show you how much you earn, how much you spend, and what you have left over to save. Try our comprehensive budget planner calculator. It’s easy to use and will show you where your money goes each month.

Develop a long-term savings goal

Now that you have a savings goal, you’ve got something to work towards. The savings term calculator will help you work out how long it will take to reach your savings goal if you make regular monthly savings. Use it in conjunction with the budget planner calculator to see how you could reach your goal sooner by adjusting your spending.

Choose the right savings account

Once you’ve worked out your savings goal, you’ll want to find a savings account that will work hard for you. Our NetBank Saver online savings account offers high interest with no bank fees*. The GoalSaver online 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.

If you’d like to grow the funds you have, perhaps you’ve just sold a property or some shares, a Cash Investment Account offers daily interest on balances of $10,000 or more, with full access to your money when you’re ready to invest again. 

A Term Deposit allows you to earn a fixed rate of interest for a nominated term so you know exactly what you’ll earn. A term deposit can be useful for parents saving for a child’s education or a special event like a wedding, for example.

If you are retired or earn a pension income our Pensioner Security Account allows you to earn high interest on the portion of the balance that is over $44,600 with the reassurance of immediate access to your savings.

Compare the rates, features and fees of these 5 accounts with our comparison table.

Do you have enough super?

Our super calculator can help you work out how much super you’ll need in retirement. If you’ve discovered that you’re not saving enough, we could help you manage any shortfalls you may have with respect to income.

If you have a DIY super fund, you can link it to a Term Deposit or a DIY Super Cash Investment Account

Protect what’s important

Savings and budget plans won’t be much use if you can’t earn an income due to illness or injury. To ensure your future plans stay on track, you may want to consider life insurance.

 

• 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