Commonwealth Bank savings + bank accounts: Rates + fees

The Commonwealth Bank is well known as one of Australia's Big Four banks and is the largest bank in the country. Being such a large bank, it offers several different types of savings accounts to suit a wide range of customers. Take a look at CommBank's accounts in the tables below.

CommBank savings accounts, bank accounts and term deposits

1 - 6 of 6

Name	Maximum Variable Rate p.a.	Standard Variable Rate p.a.	Intro/Ongoing	Government Guarantee	Monthly Max Rate Conditions
Commonwealth Bank NetBank Saver	Maximum Variable Rate p.a. 5.10%	Standard Variable Rate p.a. 2.35%	Intro/Ongoing 5 months	Government Guarantee	Monthly Max Rate Conditions N/A	Compare	loading Fetching your data...
Commonwealth Bank GoalSaver Account	Maximum Variable Rate p.a. 4.90%	Standard Variable Rate p.a. 0.40%	Intro/Ongoing Ongoing	Government Guarantee	Monthly Max Rate Conditions Deposit any amount Grow balance each month	Compare	loading Fetching your data...
Commonwealth Bank Youthsaver Account	Maximum Variable Rate p.a. 5.00%	Standard Variable Rate p.a. 2.60%	Intro/Ongoing Ongoing	Government Guarantee	Monthly Max Rate Conditions 1 deposit Grow balance Balances up to $50,000.	Compare	loading Fetching your data...
Commonwealth Bank Pensioner Security Account	Maximum Variable Rate p.a. 2.80%	Standard Variable Rate p.a. 2.80%	Intro/Ongoing Ongoing	Government Guarantee	Monthly Max Rate Conditions Balances $250,000 and over	Compare	loading Fetching your data...
Commonwealth Bank Business Online Saver	Maximum Variable Rate p.a. 1.15%	Standard Variable Rate p.a. 1.15%	Intro/Ongoing Ongoing	Government Guarantee	Monthly Max Rate Conditions Balances $1,000,000 and over	Compare	loading Fetching your data...
Commonwealth Bank Farm Management Deposit Account - At call	Maximum Variable Rate p.a. 1.35%	Standard Variable Rate p.a. 1.35%	Intro/Ongoing Ongoing	Government Guarantee	Monthly Max Rate Conditions Balances $100,000 - $800,000	Compare	loading Fetching your data...

Showing 6 of 6 results

1 - 8 of 8

Name	Monthly fee	Govt. Guarantee	Own network ATM fee	Card type
Commonwealth Bank Business Transaction Account Apple Pay Google Pay Samsung Pay Garmin Pay	Monthly fee $0	Government Guarantee	Own network ATM fee $0	Card type Visa	More Info Compare
Commonwealth Bank Business Transaction Account ($10 Monthly Fee Option) Apple Pay Google Pay Samsung Pay Garmin Pay	Monthly fee $10	Government Guarantee	Own network ATM fee $0	Card type Visa	More Info Compare
Commonwealth Bank Smart Access Apple Pay Google Pay Samsung Pay Garmin Pay	Monthly fee $4	Government Guarantee	Own network ATM fee $0	Card type Mastercard	More Info Compare
Commonwealth Bank Streamline Basic Apple Pay Google Pay Samsung Pay Garmin Pay	Monthly fee $0	Government Guarantee	Own network ATM fee $0	Card type Mastercard	More Info Compare
Commonwealth Bank Everyday Account Smart Access for students Apple Pay Google Pay Samsung Pay Garmin Pay	Monthly fee $4	Government Guarantee	Own network ATM fee $0	Card type Mastercard	Compare
Commonwealth Bank Foreign Currency Account Apple Pay Google Pay Samsung Pay Garmin Pay14 currencies	Monthly fee $0	Government Guarantee	Own network ATM fee	Card type Visa	Compare
Commonwealth Bank Pensioner Security Account Apple Pay Google Pay Samsung Pay Garmin Pay	Monthly fee $0	Government Guarantee	Own network ATM fee $0	Card type Mastercard	More Info Compare
Commonwealth Bank Smart Access Account for Youth Apple Pay Google Pay Samsung Pay Garmin Pay	Monthly fee $0	Government Guarantee	Own network ATM fee $0	Card type Mastercard	Compare

Showing 8 of 8 results

1 - 5 of 5

Name	3 Mths p.a.	4 Mths p.a.	5 Mths p.a.	6 Mths p.a.	7 Mths p.a.	11 Mths p.a.	12 Mths p.a.	24 Mths p.a.
Commonwealth Bank Term Deposit $5,000 min. deposit$49,999 max. deposit	3 Mths p.a. 3.10%	4 Mths p.a. 3.15%	5 Mths p.a. 3.25%	6 Mths p.a. 3.35%	7 Mths p.a. 3.45%	11 Mths p.a. 3.85%	12 Mths p.a. 4.35%	24 Mths p.a. 3.70%	More Info Compare
Commonwealth Bank Business Term Deposit $5,000 min. deposit	3 Mths p.a. 3.10%	4 Mths p.a. 3.15%	5 Mths p.a. 3.25%	6 Mths p.a. 3.35%	7 Mths p.a. 3.45%	11 Mths p.a. -	12 Mths p.a. 4.35%	24 Mths p.a. 3.70%	More Info Compare
Commonwealth Bank Farm Management Deposit Account - Fixed term	3 Mths p.a. -	4 Mths p.a. -	5 Mths p.a. -	6 Mths p.a. -	7 Mths p.a. -	11 Mths p.a. -	12 Mths p.a. 4.60%	24 Mths p.a. 4.15%	Compare
Commonwealth Bank Term Deposit - $50000+ $50,000 min. deposit$1,999,999 max. deposit	3 Mths p.a. 3.15%	4 Mths p.a. 3.20%	5 Mths p.a. 3.30%	6 Mths p.a. 3.40%	7 Mths p.a. 3.50%	11 Mths p.a. 3.90%	12 Mths p.a. 4.40%	24 Mths p.a. 3.75%	Compare
Commonwealth Bank Business Term Deposit - $50,000+ $50,000 min. deposit$1,999,999 max. deposit	3 Mths p.a. 3.15%	4 Mths p.a. 3.20%	5 Mths p.a. 3.30%	6 Mths p.a. 3.40%	7 Mths p.a. 3.50%	11 Mths p.a. 3.90%	12 Mths p.a. 4.40%	24 Mths p.a. 3.75%	Compare

Showing 5 of 5 results

Quick facts about CommBank

The Commonwealth Bank (also known as CommBank or CBA) is the largest bank in Australia and one of Australia's Big Four banks.
It's been around for more than 100 years
It has one of the largest ATM networks in Australia with 1,000+ ATMs
The CommBank app is the most popular banking app and has been downloaded by more than 5 million people
The bank is well-known for its Dollarmites accounts as part of its school banking program (for a lot of Australians, their first bank account was with CommBank via this program)
Its main competitors are Westpac, NAB and ANZ
The Commonwealth Bank also owns Bankwest

Accounts offered by Commonwealth Bank

Here's a brief overview of Commonwealth Bank's main personal accounts.

Commonwealth Bank Smart Access Account

A personal transaction account that provides you with unlimited access to your money electronically with a $4 monthly account-keeping fee. If you're a student or able to deposit at least $2,000 a month you can have that fee waived.

Read our full review of the Commonwealth Bank Smart Access Account.

Commonwealth Bank Goal Saver Account

This is CommBank's primary savings account in the market. It currently offers an ongoing variable bonus rate of 4.9% each month you deposit $0.01 and make no withdrawals. If you often need to make withdrawals from your savings, the Commonwealth Bank NetBank Saver account could be better suited to you.

Read our full review of the Commonwealth Bank Goal Saver Account.

Commonwealth Bank Term Deposit

The Commonwealth Bank Term Deposit could suit you if you want to lock your deposit away for a length of time and earn a fixed return on your money. It offers term lengths from 1 month to 5 years, and you can open an account with $5,000.

Read our full review of the Commonwealth Bank Term Deposit Account.

Commonwealth Bank also offers specific accounts for students, youth, pensioners and business customers. You can see these accounts in the tables above.

What do Australians think of CommBank bank account?

4/5 overall for Customer Satisfaction — lower than the average of 4.11
4.15/5 for Trust — lower than the average of 4.43
4.08/5 for Customer Service — higher than the average of 4.07

Based on CommBank bank account scores in Finder's 2024 Customer Satisfaction Awards.

Different ways to bank with Commonwealth Bank

Commonwealth Bank offers many different ways to do your banking.

Bank branches

Commonwealth Bank has more than 1,000 bank branches spread across Australia. There are also around 100 Bankwest branches across Australia that CommBank customers are able to use. Customers can go into a CommBank branch for general help and assistance with day-to-day banking, to deposit cash or cheques, to open or close accounts or to speak to a professional banker.

ATM network

There are more than 4,000 CommBank ATMs around Australia. Like most banks, CommBank has reduced its ATM numbers over the past few years as people increasingly do their banking online. Some of CommBank's ATMs are Smart ATMs, which allow customers to deposit cash and withdraw cash without their debit card.

Bank@Post

If you need to deposit cash into your account, you can do this at a participating Australia Post shop using Bank@Post. It's free to deposit cash into your account this way.

Commonwealth Bank Internet and mobile banking

Commonwealth Bank's online banking platform is called NetBank. It's an easy way to review transactions and balances, pay bills, transfer money between accounts and make BPAY payments. You can also view and download your statements, open accounts or apply for various products, change your card's daily withdrawal limit and you can activate your new card when it arrives in the mail.

The CommBank app is the most downloaded banking app in Australia and has been downloaded more than 5 million times. It offers spending categorisation and tracking tools, budgeting and bill-tracking features, spending alerts and the ability to set up personal savings goals.

Contactless payment options

Commonwealth Bank offers Apple Pay, Google Pay and Samsung Pay to customers with a CommBank debit card. This means you can use your phone (or any compatible device) to make contactless payments for everyday items instead of using your physical debit card. You can download the CommBank app to your smartwatch and tap and pay without your phone, too.

Pros and cons of banking with Commonwealth Bank

Pros

Large ATM network. CommBank has the largest ATM network in Australia, so you won't struggle to find an ATM when you need one.
Great mobile banking app. The CommBank app is the most popular banking app in Australia and has lots of spending, saving and budgeting tools.
Lots of bank branches. Some banks offer few or no bank branches; however, CommBank still has more than 1,000 branches available.
24/7 local customer service. CommBank has a 24/7 call centre based in Australia.
Large variety of products. CommBank has a larger range of bank accounts and products available than smaller banks do. There are dedicated accounts for students, seniors and business customers.
Lots of ways to bank. You can use bank branches, smart ATMs, Internet banking, mobile banking, Bank@Post or digital wallets.

Cons

Monthly account-keeping fees. CommBank's transaction accounts charge a monthly account-keeping fee unless you deposit a certain amount each month. Many other bank accounts change no fee.
Interest rates are less competitive. CommBank's savings rates are less competitive than other smaller banks and credit unions.

How to apply for a Commonwealth Bank account online

You can apply for a new CommBank account online in less than 10 minutes. Just make sure you meet the eligibility criteria and have the necessary documents handy before you start your application.

Eligibility

You're over 18 years old
You're an Australian resident for tax purposes
You have an Australian phone number and residential address

Documentation

Personal details like your name, date of birth, residential address, phone number and email address
ID documents such as your driver's licence, Medicare card, passport or proof-of-age card

If you haven't found what you're looking for yet, you can compare a wide range of additional savings accounts and bank accounts from other providers with Finder.

Compare other products from Commonwealth Bank

Thank you for your feedback!

Written by

Alison Banney

Editor

Alison Banney is the money editorial manager at Finder. She covers all areas of personal finance, and her areas of expertise are superannuation, banking and saving. She has written about finance for 10 years, having previously worked at Westpac and written for several other major banks and super funds. See full bio

Alison's expertise

Alison has written 626 Finder guides across topics including:

Superannuation
Savings accounts, bank accounts and term deposits
Budgeting and money-saving hacks
Managing the cost of living

More resources on Finder

More guides on Finder

Commonwealth Bank Pensioner Security Account
Your retirement money goes further in a versatile account that allows for free transactions as you earn interest on your balance.
Commonwealth Bank Streamline Basic
If you’re a pensioner and a concession card holder the Commonwealth Bank Streamline Basic gives you a simple fee free approach to everyday banking.
Commonwealth Bank Youthsaver Account
With a Youthsaver Account, young Australians can begin now to build savings with bonus interest earned each month.
Commonwealth Bank term deposit
With a term deposit from Commonwealth Bank you get flexible terms and competitive interest rates that will help your savings to multiply.
Commonwealth Bank NetBank Saver
The Commonwealth Bank NetBank Saver could be a convenient way to stockpile your savings without having to pay any fees.
Commonwealth Bank Goal Saver Account
With bonus interest paid as a reward for saving, you could reach your financial goals sooner.

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24 Responses

AhmedMarch 3, 2022

Haw I deposit $70 to my TAB to NSW account

Finder

AlisonMarch 9, 2022Finder

Hi Ahmed,

Are you referring to CommBank’s Albert Tab? If yes, it should already be connected to your CommBank Business Transaction and/or Savings Account.

You can call Albert Tab Support at 1800 230 177 for further assistance. They are open 24/7.

I hope this helps!

Thanks,
Alison

RobertNovember 9, 2021

Hi,

I would like to invest in Aust. Gov. Bonds to $150,000.

How do I go about this?

Thanks,
Bob

Finder

AlisonNovember 18, 2021Finder

Hi Bob,

There are a number of ways to invest in bonds. You can learn how to invest in bonds via our guide, “How do you invest in the bond market?”

Before you invest, we’d suggest speaking to a financial adviser who can offer you some personal advice on your investment.

Thanks,
Alison

MichaelJanuary 12, 2017

What the highest interest rate on $100,000 pa?

Finder

MayJanuary 12, 2017Finder

Hi Michael,

Thanks for your question.

If you are looking at investing with Commonwealth Bank Goal Saver Account, the maximum variable rate you can get with your $100,000 investment is 1.85% p.a. Though you must meet the condition of depositing $200 each month and making no more than one withdrawal per month so that you earn the maximum or bonus interest rate.

Cheers,
May

Finder

DeeNovember 30, 2016Finder

Hi Judi,

Thanks for your question.

Please note that there are penalties when you withdraw from your term deposit account. You can check our guide on term deposit penalties for more information.

Cheers,
Anndy

MaryJune 7, 2016

What is the best interest rate for 100000, to meet deeming requirements by Centrelink?

Finder

ShirleyJune 7, 2016Finder

Hi Mary,

Thanks for your question.

Please note that if your investment return is higher than the deemed income Centrelink calculates, the extra income doesn’t count towards your assessable income for your income support payment.

At the time of writing, Commonwealth Bank is offering a pensioner security account. It’s offering 2.50% on balances over $48,600.

The Netbank saver is offering up to 2.80% p.a.

If you would like to compare alternatives, please check high-interest savings accounts.

Regards,
Joshua

Commonwealth Bank savings and bank accounts

CommBank offers a range of different savings accounts, including a bonus saver and a youth saver as well as everyday bank accounts and a term deposit.