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Saving for a car

When saving for a new car, you will want to know how much you can reasonably save each month and how long it will take until you have the money you need. That’s where our handy budget planner calculator and monthly savings calculator come in. Simply enter your financial details and they’ll give you the savings amount and timeframe.

Once you’ve worked out how much you need to save, you’ll want to find a savings account that will help you reach your goal faster. Our NetBank Saver or GoalSaver accounts can help you save for short-term goals, like buying a car.

Alternatively, a term deposit, providing guaranteed returns for your chosen period, may suit you. Deposit terms range from a month to five years, giving you plenty of options.

Compare the rates, fees and features of these accounts with our comparison table.

If you need a new car before being able to save the money for it, you may want to consider a personal loan. You can borrow as little $5,000 (minimum $10,000 for a fixed-rate secured loan) for any reasonable purpose. You can even get same-day funding# so you can be driving your new car even sooner. We have three personal loans to choose from.

Once you’ve got your car, you’ll want to know it’s protected. Unfortunately, accidents happen, so it’s good to know that CommInsure’s car insurance options are competitively priced and highly rated. From comprehensive to third-party property damage, we can help you choose a policy to suit your budget and lifestyle. Also use CommInsure’s car insurance comparison table as a quick reference guide.

Keep reading

Saving for a holiday

Whether it’s a short break or the trip of a lifetime, careful saving is essential to ensure your holiday is as affordable as it is unforgettable.

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Saving for a home

Saving for what is probably the biggest purchase you’ll ever make is daunting, so getting some guidance is essential.

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Saving for a marriage

Beginning married life drowning in money worries is not a great start, so have a look at our tips on how to get your big day without the big bills.

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Related products

Reach your savings goals faster thanks to a great variable rate.

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A high-interest online savings account that links to your CommBank transaction account.

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Whether you're looking to buy a car, manage debt or take care of an emergency, we have a personal loan to suit.

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Important information

#Same-day funding is unavailable for secured loans, when a guarantor is required, if an application is incomplete or needs to be referred for a more detailed review by a lending specialist if required documentation isn't required and subject to system availability.

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).

Terms and conditions for the transaction and savings accounts mentioned and Term Deposits are available online at Important Information or from any branch of the Commonwealth Bank.

Applications for finance are subject to our normal credit approval. Full terms and conditions will be included in our offer of finance.  Fees and charges may be payable.

Car Insurance is provided by CommInsure, a registered business name of Commonwealth Insurance Limited ABN 96 067 524 216 AFSL 235030 (CIL). CIL is a wholly owned subsidiary of Commonwealth Bank of Australia ABN 48 123 123 124 (The Bank). The Bank does not guarantee the obligations or performance of CIL or the products it offers.

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