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Commonwealth Bank GoalSaver

Advertiser disclosure
Interest rate
0.05% p.a.(for $0 and over)
Maximum rate
0.30% p.a. (for $0 and over)
Govt deposit guarantee
Yes up to $250,000

Mozo editorial review Commonwealth Bank GoalSaver - last updated: 31 August 2021

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What's hot
  • Up to 0.30% maximum rate (conditions apply)
  • 2021 Mozo Experts Choice Excellent Banking App Award-winner
What's not
  • Low standard 0.05% interest rate
Mozo snapshot

With the Commonwealth Bank GoalSaver, disciplined savers will be rewarded with a maximum interest rate of up to 0.30% as long as they meet a few simple conditions every month. Savers will also be able to access their GoalSaver accounts and set goals with ease on their smartphones through the 2021 Mozo Experts Choice award-winning CommBank app.

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Key features

For all balances, the Commonwealth GoalSaver offers a 0.30% maximum rate, as long as you make at least one deposit each month and have a higher balance at the end of the month than you did at the start.

The GoalSaver is available to both new and existing customers, so Commonwealth Bank loyalists can simply switch and sign up. Interest is calculated daily and paid every month.

Transactions can be made using the app, over the phone or via internet banking, but old-school customers will be pleased to know that the Commonwealth GoalSaver also offers branch and ATM access. Transactions are unlimited and you'll be able to get one free assisted withdrawal per month, but these and other statement requests will come with a fee thereafter.

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Who is it good for

If you've got a larger savings balance which you're willing to keep adding to, the Commonwealth GoalSaver could potentially be a suitable place to store your funds.

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Any catches

If you don't meet the conditions of making at least one monthly deposit and growing your account balance, the interest rate reverts to a considerably lower 0.05%. 

Details

Rates and fees information correct as at 16 October 2021. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates

Balances from $0: 0.05% p.a.

Balances from $0: 0.30% p.a.

Make a deposit each month and have a higher account balance at the end of the month compared to the start of the month (excluding interest and bank-initiated transactions).

Fees

$0.00

n/a

Unlimited free internet, phone, counter deposits and 1 assisted withdrawal.

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n/a

n/a

$0.00

$3.00

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$0.00

$0.00

n/a

Other financial bits

$0.00

$0.00

Monthly

Features

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none

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no

no

yes

no

yes

yes

yes

no

none

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none

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