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An everyday business transaction account with a no monthly account fee option and a linked Business Visa Debit card to help you manage your expenses. Make unlimited electronic transactions for free and receive customised alerts regarding your balances. Flexibility to switch to the $10 monthly account fee option and get 20 assisted transactions per month.
Commonwealth Bank is one of the leading banks in terms of technology for your personal finances. Its online banking platform, NetBank, is used by thousands of Aussies to organise their finances. It offers a range of financial products that encourage Aussies to both spend and save. Each has its own features and benefits designed to maximise your saving opportunity or spending style. With various options depending on your deposit size, interest paid and type of account, CBA provides you with maximum flexibility with its many branches and extensive ATM network.
NetBank, Commonwealth Bank’s online banking platform, gives you easy means to review transactions, view balances, pay bills, transfer money between accounts and transfer credit card balances. You can view your statements online and download them if required. You can use this platform to apply for a various products, change your card’s daily withdrawal limit and you can activate your new card when it arrives in the mail.
NetBank's 100% Security Guarantee provides protection against liability for unauthorised transactions.
That is dependent on the type of CommBank account you have. For example, term deposits may be linked to a third party bank account for transfers, but not their standard online savings account.
You can still access your accounts if you have a stable internet connection in the country that you're travelling to.
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If you're earning over $2,000 per month, account keeping fees are generally waived on CBA everyday banking accounts. However, you may need to call CBA directly to ask or remind them to waive this fee if they are currently charging you.
To earn the bonus interest with the Goal Saver, you need to meet deposit and withdrawal conditions. However, the Netbank Saver offers the same interest rate regardless of how much you withdraw or deposit. If you're a disciplined saver and can meet the conditions of the Goal saver month to month, then it might be the option for you. Though if you're a sporadic saver and need to access your funds regularly, then the Netbank Saver may be a better fit.
The Pensioner Security account is a hybrid savings account and transaction account, whereas the Netbank Saver is purely a savings account. If you're looking to easily access your funds, the Pensioner Security may be more suitable.
The term deposit account is a flexible account where you to earn a competitive interest rate on balances starting at $5,000. Terms can range anywhere from 1 month to up to 5 years, with the rate of interest increasing when you choose longer terms.
Back to topCommonwealth Bank makes it easy to access their products by allowing you to apply online.
You can still apply for an account by CommBank, but you'll need to do it over the phone or in person. See this page for more information.
You may still be able to apply for a CommBank savings or bank accounts. Speak to customer service representative today or visit your local branch to discuss your options.
Before proceeding to apply for a savings account, ensure you are getting the best terms and rates by doing careful comparisons with other bank’s savings accounts options. There may be alternative accounts that better suit your personal financial needs and your personal situation, so you need to do your research before deciding.
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.
When you bank with Smart Access, you are given a multitude of free ways to manage your everyday spending.
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.
What the highest interest rate on $100,000 pa?
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
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
What is the best interest rate for 100000, to meet deeming requirements by Centrelink?
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 see this page.
I need to access my bank account online and I don’t know my account details . How do I get access to it because my step mother holds my bank card .
Hi Naomi,
Thanks for your question.
In this case it’s best to call CommBank directly so they can verify your identity over the phone. You can also let them know about your stepmother holding your debit card so they can issue you a new one and block the other.
Cheers,
Shirley
Is it possible to get a card that has no fees no interest no frills and no Visa or MasterCard? My
Hi Jon,
Thanks for your question.
Unfortunately this is not possible with CBA. All transaction accounts come with a linked Mastercard or Cirrus card.
Cheers,
Shirley