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
- 4.50% 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 4.5% 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 4.50% 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
-
Lower balances earn less interest
Details
Key details
| Product Name | Commonwealth Bank GoalSaver Account |
| Maximum Variable Rate | 4.50% 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
March 01, 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 08, 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 08, 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!
Jess
February 01, 2026
Hi is the full compound interest earned for the month even if it’s not opened until the 9th day of the month?how much would be earnt per month on $1600 if everything was done correctly..just trying to get an idea of this Account! Thanks!
Sarah Megginson Finder
February 02, 2026
Hi Jess,
Interest is calculated daily, and paid monthly. So if you deposit $1,600 on the 9th day, and there are 30 days in that month, you will earn interest for 22 out of 30 days for that month.
As of today the interest rate on this account is 4.25%, which is roughly 18.6c per day. When we multiply 18.6c by 22 days, it equals roughly $4.09, and that’s how much interest you would earn in that first month.
In the following month, your starting balance is now $1,604.09, so the 4.25% return is calculated on a higher starting balance, and your daily rate increases to around 18.7c per day. Keep in mind that you must make a deposit every month on top of any interest earned to qualify for bonus interest with this account, and also make no withdrawals. If you don’t meet those conditions, you’ll earn just 0.25% interest, which is about 30c per month – a very big difference!
Hope this info helps, and congrats on your savings so far!
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Anthony
November 26, 2025
Is there any the limit of balance amount in Goal Saver not affecting interest rate earning?
Alison Banney Finder
November 27, 2025
Hi Anthony,
There is currently no maximum balance limit for this account, the bous interest is available on the entire balance.
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Marc
February 28, 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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