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

- Maximum variable rate
- 4.90% p.a.
- Base interest rate
- 0.4%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 4.9% 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 4.90% p.a. if you meet the conditions
-
$0 monthly ongoing fee to pay
Cons
-
Not the highest rate in the market
-
Lower balances earn less interest
Details
Key details
Product Name | Commonwealth Bank GoalSaver Account |
Maximum Variable Rate | 4.90% p.a. |
Standard Variable Rate | 0.40% p.a. |
Monthly Account Fee | $0 |
Minimum Opening Deposit | $0 |
Minimum Age | 18 |
Your reviews

Alison Finder
Editor
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Angus Kidman Finder
December 03, 2023
Under the Financial Claims Scheme, for which Commonwealth Bank is a listed authorised deposit-taking institution (ADI), money held in savings accounts is protected up to a total of $250,000 (that’s a total across all accounts held with the specific bank). I hope this helps.

Shane
October 28, 2023
Hi, I want to confirm whether withdrawal voids the bonus interest.
A comment below stated:
“You would not qualify for bonus interest in this scenario because you made a withdrawal during the month – you only earn the bonus if no withdrawal is made. I hope this helps.”
but I can’t find it anywhere on the commbank websites or pds. Oddly, I was advised by commbank at a branch that it was a condition…
Does anyone know which is correct? Why isn’t it on the commbank websites/pds etc?
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Richard Whitten Finder
November 06, 2023
Thank you for flagging this. I have reviewed and updated the page’s information.

Anh
October 05, 2023
Let say, on the 1st of October my goalsaver account balance is $1000. During the month of October I put more money into the account. On the 30 October, my balance is $2000 and I withdraw $999. So at the end of October my balance is $1001 which is higher than at the beginning of the month. In this case am I eligible for the bonus interest? and is the bonus interest applied on the $999 that I withdraw?
Thanks
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Angus Kidman Finder
October 05, 2023
You would not qualify for bonus interest in this scenario because you made a withdrawal during the month – you only earn the bonus if no withdrawal is made. I hope this helps.

Stephanie
October 04, 2023
How long does the bonus interest rate apply?

Shubham Pandey Finder
October 23, 2023
Hi Stephanie,
Thank you for your question.
For all balances, the Commonwealth GoalSaver offers a 4.65% maximum rate, as long as you make at least one deposit each month (at least $0.01) and have a higher balance at the end of the month than you did at the start.
I hope this helps.
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Cindy
September 07, 2023
Hi there,
If I earned $200 on 31/8, can I withdraw all the $200 interest and deposit $1 on 1/9 and still enjoy the bonus interest at the end of September?

Raj Lal Finder
October 09, 2023
Hi Cindy,
You won’t earn the bonus interest for September because you made a withdrawal on the 1st September.
Thanks
Raj
Hazel
December 03, 2023
Is the goalsaver a/cc government guaranteed and for how much?