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Why save with CommBank?

Percentage icon

Bonus interest rate

Make at least one deposit and no withdrawals each calendar month and you'll earn bonus interest of 2.29% p.a. See more about rates and fees.

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Instant access to your money

Over 4,000 ATMs, 950 branches and 24/7 banking in NetBank and the CommBank app. Plus bank at participating schools through School Banking.

CommBank Youth app

Teach your child to spend their savings responsibly. The CommBank Youth app gives under 14s hands-on experience that’s fun and secure.

Ready to open a Youthsaver account?

or

Already a customer banking online with us?

Save time by using your NetBank details.

Open in NetBank

New customer or don't bank online with us?

Open now

or

Balance

Standard interest

Bonus interest

With bonus interest

All balances

0.01% p.a.

2.29% p.a.

2.30% p.a.

  • $0 monthly account fee.
See more

What you need

  • To be under 18 years of age
  • A parent or legal guardian to open the account for you if you're 13 or under
  • If you're 14 or over, you can apply by yourself by dropping in to your nearest branch
  • An Australian residential address
  • A copy of your birth certificate or passport
  • A Tax file number (TFN) or TFN Exemption. It's not an offence to withhold your TFN for the deposit account. However if you don't quote it, the Bank is required by law to deduct tax from any interest earned on the deposit account, above a certain threshold.
  • A parent or legal guardian can open a Youthsaver account online for a child who's 13 or under.

or

Already a customer banking online with us?

Save time by using your NetBank details.

Open in NetBank

New customer or don't bank online with us?

Open now

or

  • Accounts can't be opened through a trust and must be in the child's name only
  • Primary school students can bank at school if their school participates in CommBank’s School Banking program.
  • Regular catch-up – we generate a statement every six months, which you can view or download from NetBank to keep track of your savings' progress.

 

If you have questions call 13 2221 anytime or if you can't apply online please visit your nearest Branch.

Helping your child to spend and save

Looking for a child’s transaction account?

Our Smart Access Account for under 14s helps your child learn sensible spending habits with the protection of parental controls. 

See more

School Banking

The School Banking program provides a fun, interactive and engaging way for young Australians to learn about money and develop good saving habits.

See more
Tools to help you save

Tools to help you save

See how much you can save with our savings calculator. You can also check out our Dollarmites saving club for under 12s.

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 action 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 (PDF 660KB) or from any branch of the Commonwealth Bank.

Bank fees and government charges apply. Rate applies to the whole balance of account, and is calculated daily and paid monthly. Rate effective 19 August 2016 but subject to change.