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.
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Balances from $0: 0.00% p.a. |
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Balances from $0: 0.00% p.a. |
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Bonus rate for the first 5 months from account opening |
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$0.00 |
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n/a |
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unlimited free transactions from phone and internet |
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n/a |
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n/a |
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n/a |
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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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$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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no |
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no |
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yes |
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yes |
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no |
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no |
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Must link to a transaction account with this provider |
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none |
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none |
It is a very good product
Read full reviewIt is a very good product
Simple to use and great rates. Easy customer service features and very helpful staff.
Read full reviewSimple to use and great rates. Easy customer service features and very helpful staff.
I find it pretty good Ive been working with CommBank for 10years
Read full reviewI find it pretty good Ive been working with CommBank for 10years
I like Commonwealth bank as it is easy to contact them via phone and via chat, I don't need to call up I can just contact them via the chat option.
Read full reviewI like Commonwealth bank as it is easy to contact them via phone and via chat, I don't need to call up I can just contact them via the chat option.
Love my bank love the service and the help they give when In need
Read full reviewLove my bank love the service and the help they give when In need
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)
Savings Maximiser
0.55% p.a.(for $0 and over)
5.50% p.a. (for $0 to $100,000)
Yes up to $250,000
Bonus Saver
1.00% p.a.(for $0 and over)
5.00% p.a. (for $0 and over)
Yes up to $250,000
Life - 18-29 years old
1.85% p.a.(for $0 and over)
5.20% p.a. (for $0 to $30,000)
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
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
