Your selected savings accounts
Commonwealth Bank of Australia (CommBank) is Australia’s largest retail bank and one of the Big Four. It offers a wide range of financial products and services from banking to loans, investing and insurance.
For savers, CommBank provides several savings account options, including the NetBank Saver, Goal Saver, YouthSaver and Pensioner Security Account.
Your selected savings accounts
We’ll keep an eye on rates, fees, and product updates and send you an email as soon as we see a change. Notify me for changes on:
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I’m reviewing the Commonwealth Bank and its Youthsaver accounts. My kids originally opened these accounts when they started school and would bank a couple of dollars every week. After seven or so years the local branch closed (rural location) and school banking was a thing of the past. Their accounts sat dormant for a few years accruing virtually zero interest until the kids got part time jobs and their wages were deposited into their Youthsaver. The variable interest rate on balances under 50k is 2.15% with a bonus interest rate of 2.40% if the balance at the end of the month is higher than at the start and at least one deposit is made with no withdrawals. As their balances grow, so too the BONUS interest - a huge incentive to keep kids saving. As our local branch has closed, withdrawing cash if difficult, but that is a whinge for another day!
Hate all the hidden fees when direct debits bounce. I get slammed with fees constantly.
I am loyal customer of the Commonwealth Bank 35 years. In this time my bank has been extremely helpful in many different stages of my life some good and some bad in terms of customer service, access to AYM's, account fees and the app & it's usage. There are other ways in which the Commonwealth Bank helps it's customers with extras that people may be unaware of which I'd like to mention. I found myself and my children under threat from domestic violence. The Commonwealth Bank helped me and my children to escape the violence by providing me with an $800 payment for accommodation and travel expenses. To access this payment you get to speak to a social worker through the bank. I found this very helpful indeed. My children and I could afford temporary safe accommodation away from the violence. We did become homeless for a period of time but the bank were very accommodating and helpful. They were able to refund all my account fess from both themselves and also non CBA ATM fees. This gave me a bit of extra cash in my pocket to keep my family warm and feed. Thankyou Comm Bank
There’s been times where myself or someone in my family has been hacked with our accounts but the staff do actually get on it straight away with unusual spending and large amounts! Very grateful to them. And I’ve recommend comm bank to several close friend of mine which have ended up happily changing, and don’t regret it at all which is good to hear
Theyve been around forever, and have had an account with them for nearly 40 years. unfortunately their ability to keep up with the other big banks as far as interest rates on savings accounts is a significant downfall. I would recommend comparing banks before settling here. on the other side Customer service in branch is great, cant fault them. happy to stay with them but considering not having all my eggs in one basket.
The staff are always friendly and helpful
I love this bank they keep well track on my savings and goals
Sadly many branches have closed locally. There have been difficulties with local ATMS. And the bank has spent a lot of funds having them changed at least 3 times in a short period of time. Also with accounts - it would be good if they were specific about who their overall financial advisors are, and what their fees are regarding people wishing to invest some funds - long term and short term. For even some very savvy customers baulk at the run around that can ensue when needing clear and practical advice regarding investments. Not all customers are interested in home loans and wrangling the stock market in Australia and overseas. However, it is positive that the Comm Bank brand has endured for a long time and keeps surving.
Commonwealth bank has been my first ever bank snice i was born i love everything about this bank account is amazing
The staff are friendly and professional
To open a NetBank Saver account online, you'll need:
Yes, CommBank is one of Australia's "Big Four" banks and is an Authorised Deposit-taking Institution (ADI). Deposits up to $250,000 are protected under the Australian Government's Financial Claims Scheme, providing a high level of security for your savings.
In addition to the NetBank Saver, CommBank offers several other savings account options:
Each of these accounts has its own features, interest rates, and terms, so it's worth comparing them to find the best fit for your financial needs.
^See information about the Mozo Experts Choice Savings Account Awards
Mozo provides general product information. We don't consider your personal objectives, financial situation or needs and we aren't recommending any specific product to you. You should make your own decision after reading the PDS or offer documentation, or seeking independent advice.
While we pride ourselves on covering a wide range of products, we don't cover every product in the market. If you decide to apply for a product through our website, you will be dealing directly with the provider of that product and not with Mozo.
