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.
We currently don't have a partnership for that product, but we have other similar offers to choose from (how we picked these ):
We currently don't have a partnership for that product, but we have other similar offers to choose from (how we picked these ):
We currently don't have a partnership for that product, but we have other similar offers to choose from (how we picked these ):
Here's a brief overview of Commonwealth Bank's main personal accounts.
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.
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.
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.
Commonwealth Bank also offers specific accounts for students, youth, pensioners and business customers. You can see these accounts in the tables above.
Based on CommBank bank account scores in Finder's 2024 Customer Satisfaction Awards.
Commonwealth Bank offers many different ways to do your banking.
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.
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.
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'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.
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.
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.
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.
Your retirement money goes further in a versatile account that allows for free transactions as you earn interest on your balance.
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.
With a Youthsaver Account, young Australians can begin now to build savings with bonus interest earned each month.
With a term deposit from Commonwealth Bank you get flexible terms and competitive interest rates that will help your savings to multiply.
The Commonwealth Bank NetBank Saver could be a convenient way to stockpile your savings without having to pay any fees.
With bonus interest paid as a reward for saving, you could reach your financial goals sooner.
How long is the 4.8% 9 month Term Interest available for ?
CommBank says that the special term deposit offer of 4.80% for 9 months is available for a “limited time”, but hasn’t specified a cut-off date. Once you’ve opened a term deposit, the rate is locked in for the duration. Note that there are other term deposits around paying higher than this, so it’s worth comparing term deposit options before locking your money in. Hope this helps.
with a $800.000 term deposit for 1 year how much can I earn
Hi Petrenella,
It depends if you meet the conditions of the bonus saver; if you do, you can earn 5.1% on a balance of up to $250,000. With a balance this high, your best bet might be to speak to CBA and see what your options are to spread your funds into different accounts and maximise your returns.
Hope this helps!
Does commbank accept OSKO payments ?
Yes, Commbank accepts OSKO payments. All the big-four banks – NAB, CommBank, ANZ and Westpac – use Osko.
I have 4 commonwealth accounts ,award saver ,goal saver ,complete access and a master card diamond ,which account is best to set up a direct debit from to pay for my new Telstra phone and plan from for next 2 years
Hi Amanda,
Thanks for contacting Finder.
We can not advise you on how to set up your direct debit payments. There are pros and cons to paying with a transaction account, savings account or a Diamond Awards credit card. One of the benefits of using your Diamond Awards card to pay recurring bills is that you will earn points, or con of using a savings account means you will have less money for interest to be earned.
I hope that helps.
Thanks
Raj
Can I find out which atm the cardless cash was withdrawn from my CBS account?
Hi Kate,
Sorry to hear that money was withdrawn from your account without your knowledge. For account-specific information, you will need to contact your card provider directly. You can call CommBank at 13 2221 from 6 am to 10 pm.
Thanks,
Alison
Hi Kate,
Sorry to hear that money was withdrawn from your account without your knowledge. For account-specific information, you will need to contact your card provider directly. You can call CommBank at 13 2221 from 6 am to 10 pm.
Best,
Alison