Featured rate

  • 5.10% p.a. variable introductory rate:1

    • 2.35% p.a. standard variable rate
    • 2.75% 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 or 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.

  • 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

  • Help when you need it

    We’re Australia’s largest bank, with an extensive branch network across the country, and Australian-based call centres. We’re here to help you when you need it.

Link to your CommBank transaction account

  • You'll need to link an eligible 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.3 Fees may apply to this account.4

Interest rates

Balance
Interest Rate
Introductory variable rate during the first 5 months of your first NetBank Saver
(includes fixed bonus margin of 2.75%
 p.a.)
5.10% p.a.1
Standard variable interest rate once your introductory offer period ends
2.35% p.a.

Interest for the NetBank Saver account is:

  • Calculated daily
  • Paid monthly on the first calendar day of the month

If you’re new to CommBank or do not have an existing transaction account, we’ll automatically open an Everyday Account Smart Access for you when you open your NetBank Saver. 

Fees

Fee
Fee AUD
Description
Monthly account fee
$0
No monthly fees. Fees may apply to a linked transaction account3
Paper statement fee
$2.50
A fee charged for all issued paper statements for your NetBank Saver
Transaction listing and ad-hoc paper statement fee
$2.50
A fee charged when you ask us to give you a paper copy of transaction listing, past statement or ordered statements

How to apply

  • What you need to open online:

    • Australian residential address
    • If you're already a CommBank customer, you'll need your NetBank Client Number
    • 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
    • You'll need to link an eligible CommBank transaction account to your NetBank Saver, if you don’t have an existing eligible transaction account to link to your NetBank Saver, then we’ll automatically open a Smart Access account for you when you open a NetBank Saver3. Fees may apply to this account4

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

       

  • 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:

    • Both applicants will need to be 18 years or older
    • 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 16 November 2023 and you’ll receive a variable introductory interest rate for the first 5 months after account opening. The variable introductory rate is currently 5.10% p.a., which includes a fixed bonus margin of 2.75% p.a. above the NetBank Saver standard variable rate, currently 2.35% 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.

    3 Eligible CommBank transaction account can be Smart Access, Complete Access, Everyday Offset, Pensioner Security or Streamline Basic account in the same name as your NetBank Saver account. If you don’t have an existing eligible transaction account, we will open a Smart Access account under the same name as your NetBank Saver. 

    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 target market for this product will be found within the product’s Target Market Determination, available 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.