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Commonwealth Bank launches market leading savings product - GoalSaver

Sydney, 22 February 2011: Commonwealth Bank has launched a new savings account that helps customers reach their savings goals faster, and rewards regular savers – GoalSaver.

GoalSaver offers customers the added convenience of being able to manage their account in a number of ways; online, in-branch or over the phone.

According to Ross McEwan, Commonwealth Bank’s Group Executive Retail Banking Services, the introduction of GoalSaver supports the Bank’s commitment to superior customer service by recognising and rewarding customers that save regularly.

“There is more to saving than number crunching. With more Australians saving with us, we know that customers who reach their savings goals faster are the ones who discipline themselves to save.

“GoalSaver rewards customers that save regularly by offering a high variable bonus rate every time their savings balance increases by at least $200 and no more than one withdrawal is made monthly.

“For our customers saving for a home loan deposit, car, holiday or anything at all GoalSaver provides an incentive to help attain their goal earlier.” said Mr McEwan.

Commonwealth Bank’s GoalSaver offers a variable bonus rate of six per cent per annum. Customers that do not meet the bonus requirements for the month still receive a variable rate of three per cent per annum on their savingsi.

Key GoalSaver features:

  • No account service fee.
  • Bonus interest is paid when the account balance increases by at least $200 from the opening monthly balance as a result of customer initiated deposits and no more than one withdrawal is made in a calendar month.
  • No minimum or maximum limit on withdrawals.
  • Convenience of real time banking means your account is immediately available and that you can keep track of your money around the clock. As the only bank with real time banking, GoalSaver customers can immediately see when money comes into, and leaves their account, including on the weekend.
  • Manage account online, in-branch or over the phone.

For more information visit:


For further information contact:
Tracy Hicks, PR Advisor
Commonwealth Bank
P: (02) 9118 6919 or M: 0404 983 380

  • i Rate includes a variable bonus interest rate of 3 % p.a. above the standard variable interest rate of 3% p.a., which is paid on account balances up to and including $100,000 if the closing balance on the last day of a calendar month is at least $200 higher (excluding interest earned) than the opening balance on the first day of the same month, with no more than one withdrawal in the same period. The standard variable rate of 3% p.a. will apply on any portion of the balance over $100,000.