Features & benefits

  • Bonus interest, now even easier to earn

    Earn bonus interest when you grow your savings balance each calendar month (excluding interest and transactions initiated by the Bank).

  • 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

  • Protection for unauthorised transactions

    We’ll protect you from losses due to unauthorised transactions on personal and business accounts when you take the necessary steps to stay safe online

  • 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
0.40% p.a.
4.50% p.a.
4.90% p.a.
Balances between $50,000 - $249,999
0.40% p.a.
4.50% p.a.
4.90% p.a.
Balances between $250,000 - $999,999
0.40% p.a.
4.50% p.a.
4.90% p.a.
Balances $1,000,000 and over
0.40% p.a.
4.50% p.a.
4.90% 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 0.40% p.a. will apply if the bonus interest conditions aren't met

How to qualify for bonus interest

  • Make at least one deposit of any amount into your account in the calendar month; and 
  • Have a higher account balance at the end of the calendar month than at the start of the calendar month. If you withdraw from your account, deposit more money than you withdrew in the calendar month. 

For bonus interest eligibility purposes, transactions initiated by the Bank are excluded, such as:  

  • Interest paid into your account do not count as deposits;
  • Bank or government fees and charges on this account do not count as withdrawals.


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:

    You may choose to quote your Tax File Number (TFN), Australian Business Number (ABN) or TFN Exemption.5

    For joint accounts:

    • To open a joint account, 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 17 November 2023 but are subject to change at the Bank’s discretion.

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

    4 Every staff-assisted withdrawal you make will be charged $3 each. You may be eligible for 2 fee-free assisted withdrawals if you have an Australian Age, Service or Disability pension credited directly into the account.

    5 The Bank is authorised under the taxation laws to collect a Tax File Number (TFN), an Australian Business Number (ABN) or an exemption code.  It is not an offence if you don’t provide a TFN, an ABN or an exemption code, but by law, we may be required to withhold a portion of your interest earned on the account.

  • 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.