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About Youthsaver


  • Bonus interest – make just one deposit and no withdrawals each calendar month and you'll earn bonus interest on top of your standard interest
  • Interest calculated daily and paid quarterly
  • Save on fees – no monthly account fee and no withdrawal fees when you use CommBank ATMs and branches
  • Regular savings plan – set the amount, set the date
  • Easy access – CommBank has the most ATMs of any bank in Australia
  • Bank at school – primary school students can bank at school if their school participates in CommBank’s School Banking program
  • 24/7 banking – use NetBank and telephone banking anytime
  • Under 14? – you'll need permission from your parent or guardian to open an account and for a Keycard. If they do your banking, they can link your Youthsaver to their CommBank accounts and their NetBank, making it easy to access. They can also provide you with enquiry-only NetBank access to check your savings online
  • Regular catch-up – we send a statement in the mail every six months so you can keep track of your savings' progress

Check out our Dollarmites Club website for under 12s.

How to apply

  • Be under 18 years
  • Parental approval required if you are under 14 years of age
  • Australian residential address
  • 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.
  • Copy of birth certificate

  • 14 years old and over
  • Parents and guardians can apply for a Youthsaver account for a child under 14 years. You need the child’s birth certificate and your NetBank log-on details. CommBank checks the birth certificate details online, so you won’t need to visit a branch

Open in NetBank
  • Accounts are opened in real-time in NetBank, so you’ll see it when you next log on. It will be ready to use in NetBank within three days
  • Accounts can't be opened through a trust and must be in the child's name only.

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

Rates and fees


Standard interest

Bonus interest

With bonus interest

All balances

0.01% p.a.

2.79% p.a.

2.80% p.a.

The Youthsaver account also features no monthly account fee and no withdrawal fees.

Monthly account fee


An Access Fee will be charged on withdrawals you make through an ATM of ASB Bank in New Zealand, Commonwealth Bank in Indonesia and Commonwealth Bank in Vietnam.

AUD $2.00 each

Note: The Bank will not charge Access Fees on withdrawals or account balance enquiries on deposit and transaction accounts (including MISA), home loans, investment home loans, lines of credit and personal loans through non-Commonwealth Bank ATMs in Australia. However, ATM owners may charge a fee, which will be disclosed at the time of the transaction. If you proceed with the transaction, the ATM owner’s fee will be debited to your account (in addition to the withdrawal amount, if applicable).  You should check the ATM owner’s fees that apply carefully before completing transactions at non-Commonwealth Bank ATMs in Australia.

To make travelling easier, you can use your Commonwealth Bank Keycard in any international ATM carrying the Cirrus or Visa Plus signs and also for Maestro EFTPOS purchases. The following fees apply:



Transfers made at a Commonwealth Maestro EFTPOS purchase

3.00% of transaction value

Cirrus and Visa Plus ATM cash withdrawal

AUD$5.00 + 3.00% of transaction value

Related products


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Important information

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 quarterly. Rate effective date 04 September 2015 but are subject to change. Annual Effective Interest Rates apply when interest is added to principal and not withdrawn. The calculation assumes that the rates quoted remain constant for 12 months.