based on 46843 Commonwealth Bank product reviews as rated by Mozo community

Commonwealth Bank savings accounts

The Commonwealth Bank might be one of Australia's oldest and largest banks, but lately it's determined to do things differently. The Commonwealth Bank reckons it's focusing more on customer service and earning your business rather than counting on it. If you like the sound of that, then check out the Commonwealth Bank's wide range of personal banking products, including term deposits, savings accounts, credit cards, home loans and personal loans.

Commonwealth Bank offers the following savings accounts

Rates and fees verified as correct at 29 March 2024. Other information correct at the time of writing. Advertiser disclosure.
Product Interest rate Maximum rate Govt deposit guarantee
GoalSaver

0.40% p.a.(for $0 and over)

4.90% p.a. (for $0 and over)

Yes up to $250,000

NetBank Saver

2.35% p.a.(for $1 and over)

5.10% p.a. (for $1 and over)

Yes up to $250,000

Youthsaver

2.60% p.a.(for $0 and over)

5.00% p.a. (for $0 to $50,000)

Yes up to $250,000

How are Commonwealth Bank savings accounts rated?

Mozo users have rated Commonwealth Bank savings accounts on price, features, convenience, trust and customer service so you can see what real Aussies have to say about their experiences.

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Commonwealth Bank savings accounts
Overall
Price
Features
Customer service
Convenience
Trust

13275 Reviews

Recent Commonwealth Bank savings account reviews

Commonwealth Bank Savings Account
Overall 7/10
Reliable, Convenient, Secure.

As an avid customer of CommBank, I am thrilled to share my insights into why this bank has become my go-to choice for all my financial needs. CommBank, or the Commonwealth Bank of Australia, has consistently impressed me with its array of services and commitment to customer satisfaction. Pros: User-Friendly Online Platform: CommBank's online banking platform is intuitive and easy to navigate. Whether you're checking your balance, transferring funds, or managing your investments, the interface is designed with the user in mind, making banking convenient and hassle-free. Excellent Customer Service: One of the standout features of CommBank is its exceptional customer service. The support team is responsive, knowledgeable, and always ready to assist with any inquiries or issues. Whether you prefer to contact them via phone, email, or in-person at a branch, you can expect prompt and helpful assistance. Strong Security Measures: Security is a top priority for CommBank, and it shows in their robust security measures. From encryption to multi-factor authentication, they go above and beyond to protect your personal and financial information from unauthorized access, giving you peace of mind when banking online. Wide Range of Products and Services: CommBank offers a comprehensive suite of banking products and services tailored to meet the diverse needs of individuals, businesses, and organizations. Whether you're looking for savings and checking accounts, loans, investments, or insurance, you'll find a solution that fits your requirements. Extensive Network: With a vast network of branches and ATMs across Australia, CommBank ensures easy accessibility to banking services wherever you are. Additionally, their global presence through partnerships and affiliations makes it convenient to conduct transactions even when traveling abroad. Cons: Fees and Charges: While CommBank offers a wide range of services, some customers may find that certain fees and charges can add up, especially for specific transactions or account types. It's essential to familiarize yourself with the fee schedule to avoid any surprises. Interest Rates: Like many other banks, CommBank's interest rates on savings accounts and loans may not always be the most competitive in the market. It's advisable to compare rates with other financial institutions to ensure you're getting the best deal. In conclusion, CommBank has proven to be a reliable and trustworthy banking partner, offering user-friendly digital platforms, excellent customer service, robust security measures, and a wide range of products and services. While there may be some fees to consider and interest rates to compare, the overall banking experience with CommBank is highly positive. I wholeheartedly recommend CommBank to anyone seeking a comprehensive and convenient banking solution.

Read full review

As an avid customer of CommBank, I am thrilled to share my insights into why this bank has become my go-to choice for all my financial needs. CommBank, or the Commonwealth Bank of Australia, has consistently impressed me with its array of services and commitment to customer satisfaction. Pros: User-Friendly Online Platform: CommBank's online banking platform is intuitive and easy to navigate. Whether you're checking your balance, transferring funds, or managing your investments, the interface is designed with the user in mind, making banking convenient and hassle-free. Excellent Customer Service: One of the standout features of CommBank is its exceptional customer service. The support team is responsive, knowledgeable, and always ready to assist with any inquiries or issues. Whether you prefer to contact them via phone, email, or in-person at a branch, you can expect prompt and helpful assistance. Strong Security Measures: Security is a top priority for CommBank, and it shows in their robust security measures. From encryption to multi-factor authentication, they go above and beyond to protect your personal and financial information from unauthorized access, giving you peace of mind when banking online. Wide Range of Products and Services: CommBank offers a comprehensive suite of banking products and services tailored to meet the diverse needs of individuals, businesses, and organizations. Whether you're looking for savings and checking accounts, loans, investments, or insurance, you'll find a solution that fits your requirements. Extensive Network: With a vast network of branches and ATMs across Australia, CommBank ensures easy accessibility to banking services wherever you are. Additionally, their global presence through partnerships and affiliations makes it convenient to conduct transactions even when traveling abroad. Cons: Fees and Charges: While CommBank offers a wide range of services, some customers may find that certain fees and charges can add up, especially for specific transactions or account types. It's essential to familiarize yourself with the fee schedule to avoid any surprises. Interest Rates: Like many other banks, CommBank's interest rates on savings accounts and loans may not always be the most competitive in the market. It's advisable to compare rates with other financial institutions to ensure you're getting the best deal. In conclusion, CommBank has proven to be a reliable and trustworthy banking partner, offering user-friendly digital platforms, excellent customer service, robust security measures, and a wide range of products and services. While there may be some fees to consider and interest rates to compare, the overall banking experience with CommBank is highly positive. I wholeheartedly recommend CommBank to anyone seeking a comprehensive and convenient banking solution.

Price
7/10
Features
7/10
Customer service
5/10
Convenience
10/10
Trust
10/10
Less
Samuel, Victoria, reviewed about 10 hours ago
Commonwealth Bank Savings Account
Overall 8/10
CommBank: Reliable, Convenient, Secure.

As an avid customer of CommBank, I am thrilled to share my insights into why this bank has become my go-to choice for all my financial needs. CommBank, or the Commonwealth Bank of Australia, has consistently impressed me with its array of services and commitment to customer satisfaction. Pros: User-Friendly Online Platform: CommBank's online banking platform is intuitive and easy to navigate. Whether you're checking your balance, transferring funds, or managing your investments, the interface is designed with the user in mind, making banking convenient and hassle-free. Excellent Customer Service: One of the standout features of CommBank is its exceptional customer service. The support team is responsive, knowledgeable, and always ready to assist with any inquiries or issues. Whether you prefer to contact them via phone, email, or in-person at a branch, you can expect prompt and helpful assistance. Strong Security Measures: Security is a top priority for CommBank, and it shows in their robust security measures. From encryption to multi-factor authentication, they go above and beyond to protect your personal and financial information from unauthorized access, giving you peace of mind when banking online. Wide Range of Products and Services: CommBank offers a comprehensive suite of banking products and services tailored to meet the diverse needs of individuals, businesses, and organizations. Whether you're looking for savings and checking accounts, loans, investments, or insurance, you'll find a solution that fits your requirements. Extensive Network: With a vast network of branches and ATMs across Australia, CommBank ensures easy accessibility to banking services wherever you are. Additionally, their global presence through partnerships and affiliations makes it convenient to conduct transactions even when traveling abroad. Cons: Fees and Charges: While CommBank offers a wide range of services, some customers may find that certain fees and charges can add up, especially for specific transactions or account types. It's essential to familiarize yourself with the fee schedule to avoid any surprises. Interest Rates: Like many other banks, CommBank's interest rates on savings accounts and loans may not always be the most competitive in the market. It's advisable to compare rates with other financial institutions to ensure you're getting the best deal. In conclusion, CommBank has proven to be a reliable and trustworthy banking partner, offering user-friendly digital platforms, excellent customer service, robust security measures, and a wide range of products and services. While there may be some fees to consider and interest rates to compare, the overall banking experience with CommBank is highly positive. I wholeheartedly recommend CommBank to anyone seeking a comprehensive and convenient banking solution.

Read full review

As an avid customer of CommBank, I am thrilled to share my insights into why this bank has become my go-to choice for all my financial needs. CommBank, or the Commonwealth Bank of Australia, has consistently impressed me with its array of services and commitment to customer satisfaction. Pros: User-Friendly Online Platform: CommBank's online banking platform is intuitive and easy to navigate. Whether you're checking your balance, transferring funds, or managing your investments, the interface is designed with the user in mind, making banking convenient and hassle-free. Excellent Customer Service: One of the standout features of CommBank is its exceptional customer service. The support team is responsive, knowledgeable, and always ready to assist with any inquiries or issues. Whether you prefer to contact them via phone, email, or in-person at a branch, you can expect prompt and helpful assistance. Strong Security Measures: Security is a top priority for CommBank, and it shows in their robust security measures. From encryption to multi-factor authentication, they go above and beyond to protect your personal and financial information from unauthorized access, giving you peace of mind when banking online. Wide Range of Products and Services: CommBank offers a comprehensive suite of banking products and services tailored to meet the diverse needs of individuals, businesses, and organizations. Whether you're looking for savings and checking accounts, loans, investments, or insurance, you'll find a solution that fits your requirements. Extensive Network: With a vast network of branches and ATMs across Australia, CommBank ensures easy accessibility to banking services wherever you are. Additionally, their global presence through partnerships and affiliations makes it convenient to conduct transactions even when traveling abroad. Cons: Fees and Charges: While CommBank offers a wide range of services, some customers may find that certain fees and charges can add up, especially for specific transactions or account types. It's essential to familiarize yourself with the fee schedule to avoid any surprises. Interest Rates: Like many other banks, CommBank's interest rates on savings accounts and loans may not always be the most competitive in the market. It's advisable to compare rates with other financial institutions to ensure you're getting the best deal. In conclusion, CommBank has proven to be a reliable and trustworthy banking partner, offering user-friendly digital platforms, excellent customer service, robust security measures, and a wide range of products and services. While there may be some fees to consider and interest rates to compare, the overall banking experience with CommBank is highly positive. I wholeheartedly recommend CommBank to anyone seeking a comprehensive and convenient banking solution.

Price
7/10
Features
7/10
Convenience
10/10
Trust
10/10
Less
Samuel, Victoria, reviewed about 10 hours ago
Commonwealth Bank Youthsaver
Overall 7/10
Comp

I would recommend a youth saver account for families wanting to save money on the side as there's no tax or charges and you actually gain interest aswell.

Read full review

I would recommend a youth saver account for families wanting to save money on the side as there's no tax or charges and you actually gain interest aswell.

Customer service
9/10
Convenience
10/10
Trust
8/10
Less
Katrina, South Australia, reviewed about 10 hours ago
Commonwealth Bank Savings Account
Overall 10/10
Thank you I’ve been with this bank for decades

I’ve never had a problem at all Both my children have had dollar savers accounts And they’re very good handling their money aswell Thank you Fingers crossed I win

Read full review

I’ve never had a problem at all Both my children have had dollar savers accounts And they’re very good handling their money aswell Thank you Fingers crossed I win

Price
10/10
Features
10/10
Customer service
10/10
Convenience
10/10
Trust
10/10
Less
Allissa, Queensland, reviewed about 10 hours ago
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