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Commonwealth Bank Goal Saver Account

This account offers bonus interest when you deposit at least $0.01 per month and make no withdrawals

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.

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0.75% p.a.

Maximum variable rate


Base interest rate


Minimum deposit

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Product NameCommonwealth Bank GoalSaver Account
Maximum Variable Rate0.75% p.a.
Standard Variable Rate0.05% p.a.
Monthly Account Fee$0
Minimum Opening Deposit$0
Minimum Age18

Review by

Alison Banney is the banking and superannuation editor at Finder. She has written about finance for more than 8 years with her work featured on sites including Yahoo Finance, Money Magazine and Dynamic Business.

Expert review

CBA’s Goal Saver account offers 0.75% each month you deposit at least $0.01 and make no withdrawals. This is quite a low interest rate compared to a lot of other accounts on the market which offer much 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.

Key features

No monthly fees

You pay no monthly maintenance fees with this account.

Maximum interest rate of 0.75%

The account has a standard variable rate of 0.05% and a variable bonus interest rate of 0.7% when the conditions are met. These rates are variable, meaning they can change at any time.

Launch savings calculator

How to apply

If that bonus interest is just the incentive you need to stick with a savings plan, you may apply for the Commonwealth Bank Goal Saver Account in just a few minutes by applying online. There are a few eligibility requirements for this account that you should ensure you can meet before going forward to the application page, and some documentation that you should have handy.


    • Minimum age. You can only apply for this account online if you are at least 18 years old.
    • Residency requirements. In order for your application to be accepted, you must have an Australian residential address.

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  1. Default Gravatar
    April 26, 2022

    With the goal saver
    Can you direct debit ?

    • Avatarfinder Customer Care
      May 12, 2022

      Hi Guy,

      Yes, you can do a direct debit with this account but keep in mind that by doing so, you’ll lose the bonus interest that month.


  2. Default Gravatar
    December 15, 2021

    My partner and I have a joint 2 signature combank goal saver account that we can’t access withdrawal without the others signature.
    Of we split up is there any way that I can close it without her signature or she can close it or access the money without my signature?
    Or do we both have to go into the bank and both sign to make the withdrawal?

    • Avatarfinder Customer Care
      January 12, 2022


      Depending on the arrangement you have with your bank you may both need to agree to close the account or just one of you may be able to do it. If you’d like to close or cancel an account you can visit any branch with appropriate identification or call 13 2221 between 9 am and 5:30 pm, Monday to Friday.


  3. Default Gravatar
    August 23, 2019

    is there an upper limit for money in goal saver accounts
    on the website it says $100 000 but we thought that the upper limit has been lifted or abolished?
    what do you do when the upper limit has been reached

    • Default Gravatar
      August 24, 2019

      Hi Graham,

      Thanks for getting in touch! The Commonwealth Bank Goal Saver account has a maximum limit of 999,999 that can earn 1.85% p.a. with bonus and standard interest rate. Balances over 1,000,000 will only earn a standard interest rate of 0.01% p.a.and no bonus interest.

      Hope this helps! As a friendly reminder, review the eligibility criteria, fees, interest rates, and terms & conditions of this account before applying. You may also contact the bank should you have any questions about their product.


  4. Default Gravatar
    May 27, 2019

    Do you pay bonus interest on Goal Saver accounts with balance of $20000, and if so what is the rate?

    • Default Gravatar
      May 28, 2019

      Hi OldG,

      Thanks for getting in touch with Finder!

      According to the Goal Saver website, balances below 50,000 earn a bonus interest rate of 1.65% and to qualify for bonus interest, you must:

      – Deposit at least $200 (excluding interest and bank-initiated transactions) each calendar month
      – Make no withdrawals each calendar month

      Interest is calculated daily and paid into your account the first day of each month. Also, new and existing customers to Commonwealth Bank are welcome to apply for this product. This account can also be opened as a joint account. As a friendly reminder, confirm rates and to read the Product Disclosure Statement (PDS) carefully before committing to this product.

      Hope this helps!


  5. Default Gravatar
    April 21, 2019

    I have been given a 12 digit account number for a Goal Saver account to transfer money to. When I enter the account number when logged into my online banking, only 10 digits are accepted. The recipient insists that there is no associated BSB with his account and that other people have no problem transferring money to his account. Can you give me some help with this, please? Thanks.

    • Avatarfinder Customer Care
      April 22, 2019

      Hi Jan,

      Thanks for getting in touch with Finder. I’m sorry to hear about your problem.

      Account numbers range from 8 to 12 digits. In your case, it would be best to directly ask your recipient to confirm the number. If after noting the correct account number and still you can’t send, please get in touch with your provider.

      I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.

      Have a wonderful day!


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