Features & benefits

Bonus interest rate

Earn bonus interest when you deposit at least $200 and make no withdrawals in the calendar month. 

Instant access

Access your savings and check how you’re going from the CommBank app, NetBank or at your nearest branch.

Supercharge your savings

See how much you can save with our savings calculator. Then set a savings goal in the CommBank app with Goal Tracker1 and make regular (automated) transfers from your everyday account.

Rates & fees

Standard Variable Rate2
Bonus Interest3
With Bonus Interest
Balances less than $50,000
0.01% p.a.
0.64% p.a.
0.65% p.a.
Balances between $50,000 - $249,999
0.01% p.a.
0.99% p.a.
1.00% p.a.
Balances between $250,000 - $999,999
0.01% p.a.
1.34% p.a.
1.35% p.a.
Balances $1,000,000 and over
0.01% p.a.
0.01% p.a.

Interest is paid on the portion of the balance that falls within each band

  • No monthly account fees
  • Unlimited electronic and 1 fee-free assisted withdrawal each month. After which, a $3 assisted withdrawal fee will apply
  • Interest calculated daily and paid monthly
  • The standard rate of 0.01% p.a. applies on the portion of the balance $1,000,000 and over and/or if the above conditions are not met
How to qualify for bonus interest:
  • Deposit at least $200 (excluding interest and bank initiated transactions) each calendar month
  • Make no withdrawals each calendar month


It's simple to apply

You can open an account online if you:

  • Are 18 years or older
  • Are opening the account in your name for personal use. You can also open a joint GoalSaver account with one other person
  • Don’t already have a GoalSaver account.

There’s no minimum balance to open this account. 

Already registered for NetBank? You may also need your NetBank Client Number.

You can open online now or visit your nearest branch.

You’ll need:

  • An Australian residential address
  • Tax File Number (TFN) or TFN Exemption. You don’t have to provide your TFN to open the account, but if you don't CommBank is legally required to deduct tax from any interest earned on the account above a certain threshold.

We’ll also ask you about your tax residency (a Government requirement). Here’s why.

For joint accounts:

  • You can open this account with one other person if you already have a joint account together with us
  • To open up a joint account for the first time or with someone new please visit your nearest branch together.

Things you should know

1 Requires a GoalSaver or NetBank Saver in your name only.

These rates are current as at 09 March 2020 but are subject to change at the Bank’s discretion.

3 Interest is paid on the portion of the balance that falls within each band.

If you meet the requirements to earn bonus interest you will earn 0.65% p.a. on your first $49,999, then 1.00% p.a. on the amount you have between $50,000 and $249,999, then 1.35% p.a. on the amount you have between $250,000 and $999,999. On balances of $1 million and over the standard rate applies.

Applications for accounts where funds are held in trust cannot be accepted online. If you wish to open a trust account, please apply at any branch

The information on this website has been prepared without considering your objectives, financial situation or needs. Because of that, you should, before acting on the information, consider its appropriateness to your circumstances. Please view our Financial Services Guide (PDF 60KB). Full terms and conditions for the transaction and savings accounts mentioned are available here (PDF 660KB) or from any branch of the Commonwealth Bank.

See the CommBank app minimum operating system requirements on the CommBank app page. NetBank access with NetCode SMS is required. Apple and the Apple logo are trademarks of Apple Inc., registered in the U.S. and other countries. App Store is a service mark of Apple Inc. Google Play and Android are trademarks of Google Inc.