Savings accounts

Youthsaver

If you’re under 18 years of age and wish to jump-start your savings with an easy-to-use savings account, our Youthsaver account could be the right choice for you.

• $0 monthly account and withdrawal fees
• Get bonus interest every time you deposit money, but don’t take any out, in a calendar month
• Receive exclusive club communications and promotions

If you’re under 10 years of age, when you open a Youthsaver account you’ll automatically become a member of the Dollarmites Club, which is home to the Dollarmites saving superheroes. You’ll find cool games and activities to help you learn about saving.

If you’re 10 years of age or over, you’ll become part of The Hit List. Create a list of items you really want to save up for, then we’ll show you the best ways to save so you can tick it off your list.

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NetBank Saver

Looking for a way to earn more on your savings without locking it away? Our NetBank Saver account offers a competitive interest rate that’s calculated daily and credited monthly, so you’ll soon see your savings grow. There are no fees for withdrawing your money, so you can transfer funds between your NetBank Saver and linked transaction account whenever you like. Fees may still apply to your linked Commonwealth Bank transaction account.

• Enjoy a competitive rate of interest for every dollar you save
• Get instant access to your funds through your linked Youthsaver, Streamline or Debit MasterCard^® account
  
  

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Education Savings Plan

Getting a good education can be very expensive over the long-term. Whatever your education goals are, it’s smart to start steadily putting money aside as early as possible. An Education Savings Plan can give you peace of mind that your educational future is secure. It allows you to invest steadily over time in an account that will grow along with your educational plans.

• Get the highest quality education by planning ahead now
• Pay no entry or exit fees on this managed fund facility
• Choose from a range of investment options from conservative to high growth
• Enjoy advantages over other savings plans and investment products, including unique tax benefits
  
  

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• Important information
  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). Full terms and conditions of accounts mentioned or electronic banking are available here or from any branch of the Commonwealth Bank. Education Savings Plan (the Plan) is issued and administered by Lifeplan Australia Friendly Society Limited ABN 78 087 649 492 AFSL 237989 (Lifeplan). The Commonwealth Bank of Australia markets and distributes the Plan but the Commonwealth Bank and its subsidiaries to not guarantee the Plan or any rights or obligations in respect of the Plan and are not issuing or underwriting the Plan. Lifeplan and the Commonwealth Bank and its subsidiaries do not guarantee the performance of any of the Plan's investment options or the repayment of contributions and investment returns by the Plan. Investments in the Plan are not deposits or other liabilities of the Commonwealth Bank or its subsidiaries and investment-type products are subject to investment risk, including possible delays in repayment and loss of investment returns and contributions invested. A Product Disclosure Statement (PDS) (PDF 1MB) for the Plan is available here or at any branch of the Commonwealth Bank. You should consider the PDS in making any decision about this product.