With the Commonwealth Bank GoalSaver, disciplined savers will be rewarded with a maximum interest rate of up to 4.90% 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 CommBank app.
For all balances, the Commonwealth GoalSaver offers a 4.90% 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.
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.
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 0.40%.
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Balances from $0: 0.40% p.a. |
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Balances from $0: 4.90% p.a. |
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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). |
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$0.00 |
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n/a |
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Unlimited free internet, phone, counter deposits. |
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n/a |
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n/a |
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n/a |
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$0.00 |
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$3.00 |
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n/a |
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$0.00 |
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$0.00 |
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n/a |
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$0.00 |
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$0.00 |
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Monthly |
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no |
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n/a |
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no |
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no |
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no |
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yes |
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no |
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yes |
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yes |
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yes |
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no |
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none |
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none |
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none |
As an existing customer I am not offered the higher interest rate 5.1% which is offered to new customers. Other banks can offer a higher rate 5.3%. The CBA should offer a better interest rate to long term existing customers. I have been a loyal customer for over 30 years. CBA should offer more for its long term customers.
Read full reviewAs an existing customer I am not offered the higher interest rate 5.1% which is offered to new customers. Other banks can offer a higher rate 5.3%. The CBA should offer a better interest rate to long term existing customers. I have been a loyal customer for over 30 years. CBA should offer more for its long term customers.
Good rang of services
Read full reviewGood rang of services
i enjoyed it
Read full reviewI like this bank for ease of access and the helpful customer service. The Commonwealth Bank's GoalSaver account offers competitive interest rates and no monthly fees, but requires meeting conditions for maximum interest and may have variable rates tied to market conditions. I also feel that Commbank are relevant and move with worldwide trends, such as use of AI
Read full reviewI like this bank for ease of access and the helpful customer service. The Commonwealth Bank's GoalSaver account offers competitive interest rates and no monthly fees, but requires meeting conditions for maximum interest and may have variable rates tied to market conditions. I also feel that Commbank are relevant and move with worldwide trends, such as use of AI
I like the bank cause they have been good to bank with
Read full reviewI like the bank cause they have been good to bank with
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
Savings Maximiser
5.50% p.a. (for $0 to $100,000)
0.55% p.a.(for $0 and over)
Yes up to $250,000
Bonus Saver
5.00% p.a. (for $0 and over)
1.00% p.a.(for $0 and over)
Yes up to $250,000
Savings Accelerator
3.55% p.a. (for $0 to $50,000)
2.85% p.a.(for $0 to $50,000)
Yes up to $250,000
Life - 18-29 years old
5.20% p.a. (for $0 to $30,000)
1.85% 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
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)
Savings Maximiser
5.50% p.a. (for $0 to $100,000)
Yes up to $250,000
0.55% p.a.(for $0 and over)
Bonus Saver
5.00% p.a. (for $0 and over)
Yes up to $250,000
1.00% 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)
Life - 18-29 years old
5.20% p.a. (for $0 to $30,000)
Yes up to $250,000
1.85% p.a.(for $0 and over)
Savings Accelerator
3.55% p.a. (for $0 to $50,000)
Yes up to $250,000
2.85% p.a.(for $0 to $50,000)
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
Kids Bonus Saver
0.05% p.a.(for $1 and over)
0.85% p.a. (for $5,556 and over)
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
Progress Saver
0.01% p.a.(for $0 and over)
4.25% p.a. (for $0 and over)
Yes up to $250,000
