With the Commonwealth Bank GoalSaver, disciplined savers will be handsomely rewarded with a bonus interest rate of up to 0.95% p.a. as long as you meet a few simple conditions every month. The Commonwealth Bank GoalSaver has no ongoing monthly account fees and also comes with convenient transaction features such as BPay at no extra cost.
Savers will also be able to access their GoalSaver accounts and set goals with ease on their smartphones through the 2019 Mozo Experts Choice award-winning CommBank app.
For balances up to $50,000, the Commonwealth GoalSaver rewards you with a 0.50% p.a. bonus rate, as long as you make no withdrawals and deposit at least $200 in the month. If you have up to $250,000 deposited, then you'll receive a bonus rate of 0.95% p.a., and balances up to $1,000,000 will receive an interest rate of 0.95% p.a.
The GoalSaver is available to both new and existing customers so Commonwealth loyalists can simply switch and sign up to start turbo-charging their interest earnings. Interest is calculated daily and paid every month.
Transactions can be easily made over the phone and 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 (1 free assisted withdrawal per month) but remember not to make any withdrawals in the month otherwise the interest will drop to 0.01% p.a.
If you're a serious saver with a high level of self-control, then the Commonwealth GoalSaver could potentially be a fine suitor for you to stash your money in.
The 0.95% p.a. bonus rate only applies to accounts with a balance of at least $50,000 and up to $1,000,000 which suits some savers, but if you have a smaller account balance then there are other high interest savings accounts around that could deliver a better return for your money.
Balances from $0: 0.10% p.a.
Balances from $0: 0.40% p.a.
Balances from $50,000: 0.95% p.a.
Balances from $250,000: 0.95% p.a.
Balances from $1,000,000: 0.95% p.a.
Deposit at least $200 (excluding interest) and no withdrawals in the month
$0.00
n/a
Unlimited free internet, phone, counter deposits and 1 assisted withdrawal.
n/a
n/a
n/a
$0.00
$3.00
n/a
$0.00
$0.00
n/a
$0.00
$0.00
Monthly
no
none
no
no
no
yes
no
yes
yes
yes
no
none
none
none
In simple words its easy to use and helps me save money.
Read full reviewIn simple words its easy to use and helps me save money.
Pleasant and helpful staff usually on hand and happy to help.
Read full reviewPleasant and helpful staff usually on hand and happy to help.
I dislike this bank because the Goal Saver account is geared towards people with high incomes so for those without high incomes it is rubbish. NAB reward saver is an example of a better savings account or the rams saver account.
Read full reviewI dislike this bank because the Goal Saver account is geared towards people with high incomes so for those without high incomes it is rubbish. NAB reward saver is an example of a better savings account or the rams saver account.
I like this bank because they are trustworthy and easy to follow along.
Read full reviewI like this bank because they are trustworthy and easy to follow along.
Fees suck.
Read full reviewThe 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.
Promoted
Westpac
Life (18-29 years old)
3.00% p.a. (for $0 to $30,000)
0.40% p.a.(for $0 and over)
Yesup to $250,000
Promoted
HSBC
Serious Saver
2.10% p.a. (for $0 to $1,000,000)
0% p.a.(for $0 and over)
Yesup to $250,000
Promoted
Citi
Online Saver
1.55% p.a. (for $0 to $500,000)
0.35% p.a.(for $0 and over)
Yesup to $250,000
Promoted
Bankwest
Hero Saver
1.25% p.a. (for $0 to $250,000)
0.01% p.a.(for $0 to $5,000,000)
Yesup to $250,000
Promoted
Bank of Queensland
Fast Track Saver Account
1.65% p.a. (for $1 to $250,000)
0.20% p.a.(for $1 and over)
Yesup to $250,000
Promoted
HSBC
Flexi Saver
1.25% p.a. (for $0 to $5,000,000)
0.01% p.a.(for $0 to $5,000,000)
Yesup to $250,000
Promoted
Westpac
Life (18-29 years old)
3.00% p.a. (for $0 to $30,000)
0.40% p.a.(for $0 and over)
Yesup to $250,000
Promoted
HSBC
Serious Saver
2.10% p.a. (for $0 to $1,000,000)
0% p.a.(for $0 and over)
Yesup to $250,000
Promoted
Citi
Online Saver
1.55% p.a. (for $0 to $500,000)
0.35% p.a.(for $0 and over)
Yesup to $250,000
Promoted
Bankwest
Hero Saver
1.25% p.a. (for $0 to $250,000)
0.01% p.a.(for $0 to $5,000,000)
Yesup to $250,000
Promoted
Bank of Queensland
Fast Track Saver Account
1.65% p.a. (for $1 to $250,000)
0.20% p.a.(for $1 and over)
Yesup to $250,000
Promoted
HSBC
Flexi Saver
1.25% p.a. (for $0 to $5,000,000)
0.01% p.a.(for $0 to $5,000,000)
Yesup to $250,000
Promoted
HSBC
Serious Saver
0% p.a.(for $0 and over)
2.10% p.a. (for $0 to $1,000,000)
Promoted
Bankwest
Hero Saver
0.01% p.a.(for $0 to $5,000,000)
1.25% p.a. (for $0 to $250,000)
Promoted
HSBC
Flexi Saver
0.01% p.a.(for $0 to $5,000,000)
1.25% p.a. (for $0 to $5,000,000)
Promoted
Newcastle Permanent
Smart Saver
0% p.a.(for $0 and over)
2.00% p.a. (for $0 and over)
Promoted
ANZ
Progress Saver
0.01% p.a.(for $0 and over)
0.85% p.a. (for $0 and over)
Promoted
Auswide Bank
Ziggy Kids Saver
0.01% p.a.(for $0 and over)
2.01% p.a. (for $0 and over)