ANZ vs CommBank bank accounts

We've compared the bank accounts, savings accounts and term deposits offered by both Commonwealth Bank and ANZ.

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ANZ vs CBA bank accounts

Name Monthly fee Govt. Guarantee Own network ATM fee Card type
ANZ Access Advantage
ANZ logo
Apple Pay Google Pay Samsung Pay Garmin Pay
Monthly fee
$5
Government Guarantee
Own network ATM fee
$0
Card type
Visa
More Info
Commonwealth Bank Smart Access
Commonwealth Bank logo
Apple Pay Google Pay Samsung Pay Garmin Pay
Monthly fee
$4
Government Guarantee
Own network ATM fee
$0
Card type
Mastercard
More Info
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The CommBank Smart Access Account will waive the $4 monthly account fee if you're under 30 or deposit at least $2,000 each month. The ANZ Access Advantage Account will waive the $5 monthly account fee if you deposit $2,000 a month.

Both banks also offer special transaction accounts for pensioners and retirees, including the ANZ Pensioner Advantage Account and the CommBank Pensioner Security Account.

ANZ also offers ANZ Plus, which is another everyday account and savings account bundle that's exclusively available via the ANZ Plus app. This account has no monthly fees, and features different spending tools.

Sarah Megginson's headshot
Our expert says

"I didn't choose between ANZ and CBA - I bank with both of them. In fact, I have accounts with 5 different banks. I spread my accounts (home loans, credit cards and savings) across multiple banks to spread my risk. If I ever get scammed or hacked, I don't have my entire financial situation tied up with one bank so it will be easier to manage. I also prefer to stay loyal to the best deal for me personally, rather than being loyal to any single bank. "

Personal finance expert + Media spokesperson

ANZ vs CBA savings accounts

High interest bonus savings accounts

These savings accounts offer a higher bonus interest rate each month you meet the account conditions.

ANZ Progress SaverCommBank Goal Saver Account
Maximum interest rate3.85% p.a.4.65% p.a.
Standard variable rate0.01% p.a.0.35% p.a.
Bonus interest rate3.84% p.a.4.3% p.a.
Bonus interest conditionsEarn bonus interest each month you make a single deposit of $10 or more, and no withdrawals.Earn bonus interest each month you deposit $0.01 or more and make no withdrawals.
Account-keeping feesNoneNone
Minimum balance requiredNoneNone
Linked account requiredYes - you need to link to an ANZ bank accountYes - you need to link to a CBA bank account
Account accessInternet banking and mobile banking appInternet banking and mobile banking app

Introductory saver accounts (honeymoon savers)

Both banks also offer an introductory saver account, too. These accounts offer a bonus interest rate for the first few months after opening the account, which is then reduced to the standard ongoing variable rate after the 'honeymoon' period is over.

ANZ Online SaverCommBank NetBank Saver
Introductory interest rate3.4% for the first 3 months4.9% for the first 5 months.
Standard variable rate1.15%2.15%
Conditions to achieve bonus rateNew account holders will earn the bonus rate for the first 3 months. Not deposit conditions to meet.New account holders will earn the bonus rate for the first 5 months. Not deposit conditions to meet.
Monthly account feesNoNo

Want to compare more options? Compare 180+ savings accounts on Finder.

ANZ vs CBA Term deposits

Term deposits provide safe and consistent returns on the money you invest. They allow you to deposit your money for a set time period and earn a fixed interest rate, however your money is locked for the duration of the term length.

Both ANZ and Commonwealth Bank offer term deposit accounts with terms ranging from 1month through to 5 years. The interest rates on offer vary depending on the term you choose, as you can see in the table below.

Name 3 Mths p.a. 6 Mths p.a. 12 Mths p.a. 24 Mths p.a.
ANZ Advance Notice Term Deposit (31 days notice required for early withdrawals)
ANZ logo
$5,000 min. deposit
3 Mths p.a.
3.00%
6 Mths p.a.
3.40%
12 Mths p.a.
4.20%
24 Mths p.a.
3.75%
More Info
Commonwealth Bank Term Deposit
Commonwealth Bank logo
$5,000 min. deposit$49,999 max. deposit
3 Mths p.a.
2.95%
6 Mths p.a.
3.35%
12 Mths p.a.
4.15%
24 Mths p.a.
3.70%
More Info
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Want to keep comparing ANZ and CBA accounts? See the full list of ANZ accounts and CBA accounts on Finder, including kids and business accounts.

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Written by

Editorial Manager, Money

Alison is an editor at Finder and a personal finance journalist with over 10 years of experience, having contributed to major financial institutions and publications such as Westpac, Money Magazine, and Yahoo Finance. She is frequently quoted in media outlets like SmartCompany and SBS, offering expert insights on superannuation and money management. Alison holds a Bachelor of Communications in Public Relations and Journalism from the University of Newcastle, and has earned three ASIC RG146 certifications in superannuation, securities and managed investments and general financial advice, ensuring her expertise is fully aligned with ASIC standards. See full bio

Alison's expertise
Alison has written 630 Finder guides across topics including:
  • Superannuation
  • Savings accounts, bank accounts and term deposits
  • Budgeting and money-saving hacks
  • Managing the cost of living

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6 Responses

    Default Gravatar
    ElizabethJuly 19, 2023

    We are looking at ANZ progressive savings a/c versus Comm. Bank goal savers a/c .
    Are these accounts available to have within a super account?.
    We are retired and in pension mode. Which is best?Thanks.

      AvatarFinder
      AlisonAugust 1, 2023Finder

      Hi Elizabeth, both the ANZ Progress Saver account and the CommBank Goal Saver account are only available for personal use and cannot be opened as part of your super/SMSF.

    Default Gravatar
    DrMarch 21, 2019

    At the moment I am signing for a loan request to build a house. I told the broker I’m taking a home loan for $ 480000. He advised me to go with Comm Bank with 3.84% interest rate. I looked at ANZ bank and the interest rate is 3.75%. Why did my broker told me to go to CommBank?

      AvatarFinder
      JoshuaMarch 21, 2019Finder

      Hi Donna,

      Thanks for getting in touch with Finder. I hope all is well with you. 😃

      While I might not be able to specifically tell you why your broker chose CommbBank over ANZ, there might be other factors that he considered. He might have considered factors such as ongoing fees, application fees, features, and others.

      What I can suggest is for you to directly speak to your mortgage broker and discuss your concern with him/her.

      I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.

      Have a wonderful day!

      Cheers,
      Joshua

    Default Gravatar
    QuentinJune 18, 2018

    I need to open a bank account – Do I need to go into the bank for this or is there an alternate way to do this?

      Default Gravatar
      NikkiJune 19, 2018

      Hi Quentin,

      Thanks for getting in touch.

      To open a bank account, you can do this online or visit a branch near you.

      You can also check our guide in opening a bank account online. On the page is a comparison table you can use to see which account suits you. If you prefer to open an online account, press the “Go to site” button of your preferred bank to get started.

      Hope this clarifies.

      Regards,
      Nikki

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