With the Commonwealth Bank NetbankSaver, you’ll have easy access to your savings and the security of banking with one of the big four banks. The standard variable rate sits at 2.35% p.a., but for the first five months you’ll be able to enjoy an interest rate of 5.10% p.a.
When you sign up for a NetBank Saver account, you can be confident knowing that there are zero account keeping fees and unlimited free phone and internet transactions.
You’ll be looking at an introductory rate of 5.10% for the first five months. Just keep in mind that once those five months are up, the interest rate reverts to a lower 2.35% p.a.
To apply, you’ll need to be at least 14 years old and an Australian resident. If you’re not already a CommBank customer, you’ll be asked to provide some identification, such as an Australian driver’s licence, Medicare card, passport or Australian birth certificate.
Once you’ve signed up, you’ll need to have a CommBank transaction account to go with your Netbank Saver account. If you don’t already have one, a Smart Access account will automatically be opened in your name.
A decent introductory rate makes the NetBank Saver account a good option for anyone looking to give their savings a bit of a kickstart.
Given the lacklustre standard variable rate, you might consider shopping around for somewhere else to park your savings in the long-run. And while the NetBank Saver doesn’t come with fees, you might encounter some through your linked transaction account.
Balances from $0: 0.00% p.a. |
|
Balances from $0: 0.00% p.a. |
|
Bonus rate for the first 5 months from account opening |
$0.00 |
|
n/a |
|
unlimited free transactions from phone and internet |
|
n/a |
|
n/a |
|
n/a |
|
n/a |
|
n/a |
|
n/a |
|
$0.00 |
|
$0.00 |
|
n/a |
$0.00 |
|
$0.00 |
|
Monthly |
no |
|
n/a |
|
no |
|
no |
|
no |
|
no |
|
no |
|
yes |
|
yes |
|
no |
|
no |
|
Must link to a transaction account with this provider |
|
none |
|
none |
Pretty happy with commonwealth bank, lots of features.
Read full reviewPretty happy with commonwealth bank, lots of features.
I like my bank branches find staff very nice. The savings plan is easy to understand. The only complaint I have would be the length of time on phone you wait to spk to a customer service operator
Read full reviewI like my bank branches find staff very nice. The savings plan is easy to understand. The only complaint I have would be the length of time on phone you wait to spk to a customer service operator
Been with commbank about 3 years and have been very helpfull, i use it everyday and the customer services has been very helpful when i have had to call them. Loans are easy and stress free also.
Read full reviewBeen with commbank about 3 years and have been very helpfull, i use it everyday and the customer services has been very helpful when i have had to call them. Loans are easy and stress free also.
I've changed banks from ANZ to commonwealth bank and was relieved to find it was the best decision I've made. I found that commonwealth Bank has far more product features to choose from and I was pleased to find they had a large range of benefits to scroll through when needing that bargain to help save money. The net bank app is easy to use and keeps all information and questions all in the one place. I've recently been experimenting financial hardship and during this time the friendly and helpful staff have eased my stress and supported me in not only there help but other outside organisations that can help further. Ive recommend commonwealth Bank to my mother as I am certain this bank would best support her as well.
Read full reviewI've changed banks from ANZ to commonwealth bank and was relieved to find it was the best decision I've made. I found that commonwealth Bank has far more product features to choose from and I was pleased to find they had a large range of benefits to scroll through when needing that bargain to help save money. The net bank app is easy to use and keeps all information and questions all in the one place. I've recently been experimenting financial hardship and during this time the friendly and helpful staff have eased my stress and supported me in not only there help but other outside organisations that can help further. Ive recommend commonwealth Bank to my mother as I am certain this bank would best support her as well.
I think that the monthly fee is a fair price and also the price of the over withdrawing limit is decent. I joined commonwealth bank when I was about 9/10 with their Dollarmites account and I haven’t changed it since. I love their steppay system and their easy to use app. I think I would stay with commonwealth for life. The only con I can think of is that there aren’t actually that many commonwealth atms around. You need to go to a branch which can be inconvenient with children.
Read full reviewI think that the monthly fee is a fair price and also the price of the over withdrawing limit is decent. I joined commonwealth bank when I was about 9/10 with their Dollarmites account and I haven’t changed it since. I love their steppay system and their easy to use app. I think I would stay with commonwealth for life. The only con I can think of is that there aren’t actually that many commonwealth atms around. You need to go to a branch which can be inconvenient with children.
High Interest Savings Account
5.75% p.a. (for $0 to $250,001)
4.40% p.a.(for $0 to $250,001)
Yes up to $250,000
Savings Account
5.35% p.a. (for $0 to $250,000)
4.75% p.a.(for $0 to $1,000,000)
Yes up to $250,000
Reward Saver Account
5.25% p.a. (for $0 to $1,000,000)
0% p.a.(for $0 and over)
Yes up to $250,000
AMP Saver Account
5.40% p.a. (for $0 to $250,000)
1.20% p.a.(for $0 to $5,000,000)
Yes up to $250,000
Savings+Bonus
5.00% p.a. (for $0 to $250,000)
2.00% p.a.(for $0 to $250,000)
Yes up to $250,000
Save Account
5.10% p.a. (for $0 to $250,000)
0.10% p.a.(for $0 and over)
Yes up to $250,000
Bonus Saver Account
5.00% p.a. (for $0 to $250,000)
0.05% p.a.(for $0 and over)
Yes up to $250,000
High Interest Savings Account
5.75% p.a. (for $0 to $250,001)
Yes up to $250,000
4.40% p.a.(for $0 to $250,001)
Savings Account
5.35% p.a. (for $0 to $250,000)
Yes up to $250,000
4.75% p.a.(for $0 to $1,000,000)
Save Account
5.10% p.a. (for $0 to $250,000)
Yes up to $250,000
0.10% p.a.(for $0 and over)
AMP Saver Account
5.40% p.a. (for $0 to $250,000)
Yes up to $250,000
1.20% p.a.(for $0 to $5,000,000)
Savings+Bonus
5.00% p.a. (for $0 to $250,000)
Yes up to $250,000
2.00% p.a.(for $0 to $250,000)
Reward Saver Account
5.25% p.a. (for $0 to $1,000,000)
Yes up to $250,000
0% p.a.(for $0 and over)
Bonus Saver Account
5.00% p.a. (for $0 to $250,000)
Yes up to $250,000
0.05% p.a.(for $0 and over)
Reward Saver Account
0% p.a.(for $0 and over)
5.25% p.a. (for $0 to $1,000,000)
Yes up to $250,000
AMP Saver Account
1.20% p.a.(for $0 to $5,000,000)
5.40% p.a. (for $0 to $250,000)
Yes up to $250,000
Savings+Bonus
2.00% p.a.(for $0 to $250,000)
5.00% p.a. (for $0 to $250,000)
Yes up to $250,000
Save Account
0.10% p.a.(for $0 and over)
5.10% p.a. (for $0 to $250,000)
Yes up to $250,000
Bonus Saver Account
0.05% p.a.(for $0 and over)
5.00% p.a. (for $0 to $250,000)
Yes up to $250,000
Reward Saver
0.30% p.a.(for $0 and over)
5.25% p.a. (for $0 to $100,000)
Yes up to $250,000
Ziggy Kids Saver
0.01% p.a.(for $0 and over)
3.01% p.a. (for $0 and over)
Yes up to $250,000