Why save with CommBank?
$0.01 up to and including $5 million
$0.01 or more
Fees and charges
#There are no fees for using your NetBank Saver but fees may apply to your linked Commonwealth Bank transaction account.
*Open a NetBank Saver for the first time from 06 May 2016 and you’ll receive a special bonus variable interest rate of currently 2.80% p.a., which includes a fixed bonus margin of 1.30% p.a. above the NetBank Saver standard variable rate of currently 1.50% p.a., for 3 months after account opening for balances up to and including $5 million. At the end of the introductory rate period and for balances greater than $5 million, the NetBank Saver standard variable rate applicable at that time will apply. The Bank reserves the right to terminate this offer at any time.
What you need:
- Australian residential address
- 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
You may also need (if applicable):
You can apply for a NetBank Saver:
- If you’re older than 14 years of age
- If the account is in a personal name (maximum of two applicants for joint accounts) and it’s for personal use
- If you're new to CommBank we'll automatically open an Everyday Account Smart Access for you when you open your NetBank Saver.
- Applications for accounts where funds are held in trust are unable to be opened online. If you would like to open a trust account, please visit any branch
- If you don’t apply through NetBank, you’ll receive all the forms you need to open your account within seven business days
Things you should know
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 68KB). Full terms and conditions for the transaction and savings accounts mentioned and Electronic Banking are available here or from any branch of the Commonwealth Bank.
A linked transaction account is required. If you have a complaint, the Bank’s dispute resolution process can be accessed on 13 2221.