In this guide

  • Our verdict
  • Details
    • Key details
  • Key features
  • How to apply
  • Compare other savings accounts
  • Your reviews
  • Ask a question
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Commonwealth Bank NetBank Saver

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Commonwealth Bank NetBank Saver

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Compare other options
Maximum variable rate
5.10% p.a.
Base interest rate
2.35%p.a.

Our verdict

Open up a NetBank Saver Account today and you could be rewarded with a bonus introductory interest rate for your balance.

Be mindful that fees may still apply to your linked Commonwealth Bank transaction account.

Pros

  • Maximum deposit of $5,000,000
  • There is $0 monthly account fee
  • Earn interest each day

Cons

  • A transaction account should be linked

In this guide

  • Our verdict
  • Details
    • Key details
  • Key features
  • How to apply
  • Compare other savings accounts
  • Your reviews
  • Ask a question

Linked to a Commonwealth Bank transaction account, the NetBank Saver provides you with a convenient way to manage your savings without having to pay any fees for your transactions. If you apply now, you will have the added benefit of bonus interest applied to your deposits, allowing you to grow your savings quicker than you had thought.

Details

Key details

Product Name Commonwealth Bank NetBank Saver
Maximum Variable Rate 5.10% p.a.
Standard Variable Rate 2.35% p.a.
Monthly Account Fee $0
Minimum Opening Deposit $0
Minimum Age 14

Key features

$0 Account keeping fees

With this online savings account you are not charged any monthly or transaction fees. Keep in mind that this account requires a linked account, where other fees may be charged.

Up to 5.1% p.a. for the first 5 months on your first NetBank Saver

Your savings will grow with a competitive interest rate applied to your balance.

Launch savings calculator


How to apply

Eligibility

Commonwealth Bank allows you to apply for the NetBank Saver online. If after making your comparisons you feel that this is the account for you, you can apply online. Before doing so, make sure that you are able to meet the following eligibility requirements:

  • Minimum age. You must be at least 14 years old to apply for this account online.
  • Residency requirements. You must be able to provide an accurate Australian residential address when filling out the application.

Compare other savings accounts

1 - 12 of 189
Name Maximum Variable Rate p.a. Standard Variable Rate p.a. Intro Period Government Guarantee Monthly Max Rate Conditions
Ubank High Interest Save Account
Maximum Variable Rate p.a.
5.50%
Standard Variable Rate p.a.
0.00%
Intro Period
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Deposit $500
  • Savings up to $100,000
Go to siteView details
Get 5.5% on your savings (up to $100K) when you deposit $500 per month. Get 5.00% on savings between $100K and $250K.
Rabobank High Interest Savings Account
Maximum Variable Rate p.a.
5.75%
Standard Variable Rate p.a.
4.40%
Intro Period
4 months
Government Guarantee
Monthly Max Rate Conditions
  • Balances up to $250,000
Go to siteView details
Ubank High Interest Save Account
Maximum Variable Rate p.a.
5.50%
Standard Variable Rate p.a.
0.00%
Intro Period
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Deposit $500
  • Savings up to $100,000
Go to siteView details
Bank of Queensland Simple Saver Account
Maximum Variable Rate p.a.
5.35%
Standard Variable Rate p.a.
4.85%
Intro Period
4 months
Government Guarantee
Monthly Max Rate Conditions
  • Balances up to $5,000,000
Go to siteView details
Newcastle Permanent Online Savings Account
Maximum Variable Rate p.a.
5.20%
Standard Variable Rate p.a.
1.00%
Intro Period
3 months
Government Guarantee
Monthly Max Rate Conditions
  • N/A
Go to siteView details
ING Savings Accelerator ($150,000 - $500,000)
Maximum Variable Rate p.a.
5.20%
Standard Variable Rate p.a.
4.70%
Intro Period
4 months
Government Guarantee
Monthly Max Rate Conditions
  • Welcome rate applies up to $500K
Go to siteView details
Macquarie Savings Account
Maximum Variable Rate p.a.
5.35%
Standard Variable Rate p.a.
4.75%
Intro Period
4 months
Government Guarantee
Monthly Max Rate Conditions
  • Balances up to $250,000
Go to siteView details
ING Savings Maximiser
Finder Award
Maximum Variable Rate p.a.
5.50%
Standard Variable Rate p.a.
0.55%
Intro Period
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Deposit $1,000
  • 5 transactions
  • Grow your balance
  • Balances up to $100,000
Go to siteView details
Eligible customers can receive $50 cashback when they open an Orange Everyday and a Savings Maximiser account together before 31st July 2024. Customers must make 5 settled transactions and keep the accounts active for 60 days from opening.
ME HomeME Savings Account
Maximum Variable Rate p.a.
5.55%
Standard Variable Rate p.a.
0.55%
Intro Period
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Deposit $2000
  • Grow balance
  • Balances up to $100,000
Go to siteView details
IMB Reward Saver Kick Start
Maximum Variable Rate p.a.
5.25%
Standard Variable Rate p.a.
0.00%
Intro Period
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Deposit $20+ each month
  • No withdrawals
Go to siteView details
First Option Bank Savings+Bonus Account
Maximum Variable Rate p.a.
5.00%
Standard Variable Rate p.a.
2.00%
Intro Period
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Deposit $100
  • No withdrawals
  • Balances up to $249,999
Go to siteView details
IMB Reward Saver Account
Maximum Variable Rate p.a.
5.25%
Standard Variable Rate p.a.
0.00%
Intro Period
4 months
Government Guarantee
Monthly Max Rate Conditions
  • Deposit $50
  • No withdrawals
  • Balances up to $1,000,000
Go to siteView details
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Alison Finder

Editor

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Jack

October 31, 2023

Does this mean I can hold only a maximum amount of $5 million in this account? Or does it mean I can deposit a larger amount but only $5 will be eligible for the bonus interest rate?

Thanks!


Avatar

Richard Whitten Finder

December 12, 2023

Hi Jack,


I’m unable to answer this question by looking at Commbank’s website or the PDS. I suggest contacting the bank directly to clarify.


Avatar

Mia

October 02, 2023

Why’s CommBank only giving me like $300 as interest on something that’s supposed to be like $10k + interest based on the amount and the netsaver rate… something very fishy and thinking of escalating this. Something isn’t right. it’s got to be looked into 😕


Avatar

Sarah Megginson Finder

October 13, 2023

Hi Mia,


We’re not licenced to provide personal advice, so we recommend you contact CommBank directly to escalate your enquiry.


A note that the interest rate of 4.75% applies only for the first 5 months as a bonus, then it reverts to 2.2%.


Also based on an interest rate of 4.75%, to earn $10,000 per month in interest, you would need to deposit around $2.5 million. Hope this helps.


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Avatar

Jenny

June 29, 2023

After the 5 month bonus interest period ends can I negotiate a better variable rate than the 2.2%


Avatar

Alison Banney Finder

June 29, 2023

Hi Jenny,

You’d need to speak to CommBank directly about negotiating the variable rate.

Good luck!

Alison


Avatar

peter

June 07, 2023

can it be a joint account


Avatar

Alison Banney Finder

June 08, 2023

Hi Peter, yes you can open this as a joint account.


Avatar

Shane

May 22, 2023

I currently have a net bank saver that I had for several years, can I close it and open a new account or am I better off closing it and moving to another bank with a similar offer


Avatar

Raj Lal Finder

May 22, 2023

Hi Shane,

We aren’t licensed to offer you any personal financial advice or product recommendations. However to help consumers pick a savings account, we have some information on how to compare, in this guide https://www.finder.com.au/savings-accounts/best-savings-accounts


Thanks

Raj


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