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
- 4.25% 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 4.25% 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 4.25% 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 | 4.25% 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."
Sources
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Alison Finder
Editorial Manager, Money
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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.
Robert Trainor
September 09, 2025
Does the Combank goalsaver pay interest on the interest, i.e, is it compounded and if not
is there a savings account out there that does?
Alison Banney Finder
September 10, 2025
Hi,
Yes the CommBank Goal Saver pays compound interest. All savings accounts pay compound interest (term deposits, on the other hand, do not).
Thanks,
Alison
Neil
July 17, 2024
We need to bust our GoalSaver account up so your telling me will only get .4% on balance..??
Sarah Megginson Finder
July 17, 2024
Hi Neil,
The basic interest rate on this card is 0.4% so you’ll always earn this amount. But if you met the conditions – which is to increase the balance by at least $0.01 each month – you will qualify for bonus interest, which right now is 4.5%.
Bottom line, as long as you meet this condition, you’ll earn 4.9%. There is also no minimum balance requirement for this account.
Hope this helps!
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Gil
May 16, 2024
Do you have to deposit amounts monthly and what is the minimum
I have not received an answer
Sarah Megginson Finder
September 23, 2024
Hi Gil,
There is no minimum, you can deposit as little as $0.01 to meet the conditions. However, your account balance must grow each month, so you must not make any withdrawals throughout the month. If you set up a direct deposit to transfer at least 0.01c per month, you will meet the minimum. Hope this helps!
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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!