Featured rate

1.65% p.a. variable introductory rate1:

  • 0.10% p.a. standard variable rate
  • 1.55% p.a. fixed bonus margin for the first 5 months on your first NetBank Saver 

Features & benefits

Easy access to your savings, 24/7

Move money between your CommBank transaction account and NetBank Saver any time in NetBank and the CommBank app.

Tools to help you save

See how much you can save with our savings calculator, set up regular transfers to keep you on track or create a savings goal in the CommBank app with Goal Tracker2 and make regular (automated) transfers from your everyday account.

Link to your CommBank transaction account

You'll need to link a CommBank transaction account to your NetBank Saver

If you don’t have an existing transaction account to link to your NetBank Saver, then we’ll automatically open a Smart Access account for you when you open a NetBank Saver. Fees may apply to this account.3

Rates & fees

Balance
Interest Rate
Introductory variable rate during the first 5 months of your first NetBank Saver
(includes fixed bonus margin of 1.55%
 p.a.)
1.65% p.a.1
Standard variable interest rate once your introductory offer period ends
0.10% p.a.

How to apply

What you need:

  • Australian residential address
  • If you're not already a CommBank customer, your Australian driver’s licence, Medicare card, passport or Australian birth certificate to identify yourself
  • Tax File Number (TFN) or TFN Exemption. You do not 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.

You may also need (if applicable):

  • NetBank client number (if you’re already a NetBank customer)

Who can apply online?

You can apply for a NetBank Saver if you're:

  • 14 years or older
  • Opening the account in your name for personal use. You can also open a joint NetBank Saver with one other person

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

Apply online

More information

  • If you would like to open a trust fund account, please visit your nearest branch
  • If you apply for this account in a branch, you'll receive the forms you need within seven business days

Things you should know

Open a NetBank Saver for the first time from 04 October 2019 and you’ll receive a variable introductory interest rate for the first 5 months after account opening. The variable introductory rate is currently 1.65% p.a., which includes a fixed bonus margin of 1.55% p.a. above the NetBank Saver standard variable rate, currently 0.10% p.a. At the end of the introductory rate period the NetBank Saver standard variable rate applicable at that time will apply. This introductory rate offer is available for a limited time only and the Bank reserves the right to terminate this offer at any time. The variable introductory interest rate will not apply to NetBank Saver accounts which are jointly owned where one of the account holders has previously held a NetBank Saver account.

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

If you’re eligible, you can ask us instead to open a Streamline Basic account – which has no monthly account fees. You can open a Streamline Basic account if you hold an Australian Government issued Commonwealth Seniors Health card, Pensioner Concession card, or a Health Care card. To open a Streamline Basic and link this to your NetBank Saver, visit a branch. Find out more here.  

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). Full terms and conditions for the transaction and savings accounts mentioned (PDF) and Electronic Banking (PDF) are available here or from any branch of the Commonwealth Bank.