Features & benefits

Bonus interest, now even easier to earn

Earn bonus interest when you grow your savings balance each calendar month (excluding interest and bank-initiated transactions).

Tools to help you save

See how much you can save with our savings calculator, set up regular automatic transfers to keep you on-track, and set a savings goal in the CommBank app with Goal Tracker.1

Safe and secure

Your hard-earned savings are backed by our 100% Security Guarantee and the Australian Government’s guarantee on combined balances of up to $250,000 per account holder.

Instant access

Instantly access your savings and check how you’re tracking with your savings goals from the CommBank app, NetBank or at your nearest branch.

Interest rates

Standard Variable Rate2
Bonus Variable Interest3
With Bonus Interest
Balances less than $50,000
0.05% p.a.
0.20% p.a.
0.25% p.a.
Balances between $50,000 - $249,999
0.05% p.a.
0.20% p.a.
0.25% p.a.
Balances between $250,000 - $999,999
0.05% p.a.
0.20% p.a.
0.25% p.a.
Balances $1,000,000 and over
0.05% p.a.
0.20% p.a.
0.25% p.a.

One bonus interest rate applies to your entire balance. The interest rate depends on your account balance. 

  • Interest calculated daily and paid monthly
  • The standard variable rate of 0.05% p.a. will apply if the bonus interest conditions aren't met

How to qualify for bonus interest

  • Make a deposit each calendar month into your account, and
  • Have a higher account balance at the end of the month compared to the account balance at the start of the month (excluding interest and bank-initiated transactions)



Monthly account fee
No monthly fees
Paper statement fee
A fee charged when you ask us to give you an additional account statement outside the standard cycle
Transaction listing and ad-hoc paper statement fee
A fee charged when you ask us to give you  a paper copy of transaction listing, past statement or ordered statements
Assisted withdrawal fee
A fee charged when you take money out:
  • At a CommBank Branch, agency or through telephone banking
  • Cheques written by you and negotiated through the clearing system
  • By cashing a cheque4

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 only for personal use. 

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:

  • To open a joint account, please visit your nearest branch together

Things you should know

The target market for these products will be found within the product’s Target Market Determination, available here.

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.