The Commonwealth Bank Goal Saver Account pays bonus interest when you meet the monthly deposit conditions and make no withdrawals from the account. As you're restricted from making withdrawals, it could motivate you to keep saving instead of making impulse purchases.
Commonwealth Bank Goal Saver Account
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- Maximum variable rate
- 5.00% p.a.
- Base interest rate
- 0.25% p.a.
- Minimum deposit
- $0.01
Our verdict
This account offers bonus interest when you deposit at least $0.01 and grow your savings each month.
CBA’s Goal Saver account offers 5% each month you deposit at least $0.01 and grow your savings balance. This is a lower interest rate compared to the highest rate accounts on the market which offer higher interest rates.
However, CommBank has one of the best mobile banking apps in Australia which could be a big benefit of this account if you like to manage your money on the go. The app can help you budget and save by splitting your transactions into spending categories, helping you find benefits and rebates that you might be eligible for and reminding you of upcoming bills.
Pros
-
Earn ongoing interest rate of 5.00% p.a. if you meet the conditions
-
$0 monthly ongoing fee to pay
Cons
-
Need to deposit at least $0.01 per month to earn bonus interest and make no withdrawals
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Lower balances earn less interest
Details
Key details
| Product Name | Commonwealth Bank GoalSaver Account |
| Maximum Variable Rate | 5.00% p.a. |
| Standard Variable Rate | 0.25% p.a. |
| Monthly Account Fee | $0 |
| Minimum Opening Deposit | $0 |
| Minimum Age | 18 |
"In my opinion, Goalsaver is a far superior product to the generic Netsaver that many are directed to when they open a CBA savings account. Goalsaver allows you to get an ongoing high interest rate, whilst the Netsaver rate is high only for the first few months and then drops down. You can get the interest rate simply by growing your balance and it pays interest on balances of all sizes (not limited to $100K), which is perfect for those who are saving for a house deposit."
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Alison Finder
Editorial Manager, Money
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Sarah Megginson Finder
July 06, 2026
Hi Vince,
Yes, you will lose your bonus interest for this month. To earn bonus interest with the CommBank GoalSaver, your total deposits for that calendar month must exceed your total withdrawals. If you make a $600 withdrawal and only deposit $50, that means your withdrawals are higher than your deposits, so you will miss the criteria for the month. Also note that interest you earn on a bank account is subject to income tax, so you may want to set some money aside to manage that at tax time. Hope this helps.
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jeff
March 28, 2026
i know you can deposit into it from any bank account, but what about withdrawing funds?
do i need to open a CBA transaction account to transfer funds out?
Sarah Megginson Finder
March 30, 2026
Hi Jeff,
The Goal Saver account is built to sit next to a CommBank everyday account, so you can easily transfer money between the accounts. So yes, you’ll need to set up this linked transaction account to have a Goal Saver account.
Marc
March 01, 2026
I transferred $27000 on 26th February to my commbank goal saver account. Prior to 26 February, I had only $0.04. And then I received $12.34 as bonus interest and $0.75 as credit interest on the 1st of March. If the interest rate is 4.50%, i thought I should receive about $101.25 as interest rate. Why is the interest so low?
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Sarah Megginson Finder
March 02, 2026
Hi Marc,
Interest is calculated daily and paid monthly. You received interest based on the 3 day that you had that larger balance (feb 26, 27 and 28). For March, assuming you meet all the conditions to earn the bonus interest, you should receive a full 31 days worth of interest. Hope this helps!
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LENNARD COLEMAN
February 26, 2026
when is the best time to withdraw money from the GoalSaver account to top up my other CBA Accounts thereby minimizing impact in the months GS Interest payment value
Sarah Megginson Finder
March 09, 2026
Hi Lennard,
You may want to transfer funds on the first day of the month. This ensures you have maximised the daily interest calculation for the entire previous month and only lose one day of bonus interest on the withdrawn amount.
The most important rule for the GoalSaver account is that your balance must be higher at the end of the month than it was at the start (excluding interest payments). As long as you make a deposit (at least $0.01) and ensure the closing balance is higher, you still earn the bonus interest. Hope this helps!
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Ruth
February 09, 2026
Hi. If you withdraw and lose the maximum interest that month does it go back to that interest rate if you don’t withdraw anything the next month?
Sarah Megginson Finder
February 09, 2026
Hi Ruth,
The eligibility criteria resets every month. So for example, if you withdraw and lose the maximum interest in February, you can still earn the bonus interest in March (and future months), provided you meet the criteria. Hope this helps!
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Vince
July 01, 2026
I’ve just earned $600.00 interest on my first month CBA GS Account taking my total to $27600, if I withdraw my interest bringing my total back to $27050 that’s including a monthly deposit of $50 will I lose my bonus interest?