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Commonwealth Bank Goal Saver Account

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Commonwealth Bank gives you a great incentive to maintain good financial habits by awarding you with bonus interest.

The Goal Saver Account from Commonwealth Bank multiplies your interest earnings by paying a bonus rate for reaching their monthly terms. This fee free savings account is available to new and existing Commonwealth Bank customers, and requires no minimum balance to get started with.

0.5% p.a.

Maximum variable rate

0.1% p.a.

Base interest rate

0.4% p.a.

Bonus interest rate


Minimum deposit


Product NameCommonwealth Bank GoalSaver Account
Maximum Variable Rate0.5% p.a.
Standard Variable Rate0.10%
Bonus Variable Rate0.40%
Monthly Account Fee$0
Minimum Opening Deposit$0
Minimum Age18

Expert review

Shirley Liu

Review by

Shirley Liu is Finder's global program manager. She was previously the publisher for banking and investments and has also written comparisons for energy, money transfers, Uber Eats and many other topics. Shirley has a Master of Commerce and a Bachelor of Media, Journalism and Communications from the University of New South Wales. She is passionate about helping people find the best deal for their needs.

Expert review

CBA’s Goal Saver account offers 0.5% each month you deposit at least $200 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 is a big benefit of this account. 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 0.5% on balances less than $50,000

The account has a standard variable rate of 0.1% and a variable bonus interest rate of 0.4% when the conditions are met. These rates are variable, meaning they can change at any time.

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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
    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.


  2. 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!


  3. 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!


  4. Default Gravatar
    September 18, 2018

    How many GoalSaver accounts I can open in CBA? Would all of them receive maximum variable rate to the balances up to $1Mil?

    • Avatarfinder Customer Care
      September 19, 2018

      Hello Ayd,

      Thank you for your comment.

      Upon checking, you can only apply for one GoalSaver account. The maximum variable interest rate is available on balances between $250,000 – $999,999, not up to $1,000,000.

      Should you wish to have real-time answers to your questions, try our chat box on the lower right corner of our page.


  5. Default Gravatar
    March 23, 2017

    So just to be clear,

    You get 1.8%p.a regardless of whether you paid the $200 into the account each month, and if you do deposit the $200 each month you get 1.8% + 1.79% (bonus) = 3.59%p.a ?

    • Avatarfinder Customer Care
      March 23, 2017

      Hi Jared,

      Thanks for your question.

      Regardless of whether you paid the $200 into the account each month or not, you get the Standard Variable rate of 0.01% p.a.

      If you meet the eligibility criteria to receive the bonus rate, you’ll receive an additional 1.79% p.a. per month.

      The maximum interest rate that you can receive with this account is only 1.80% p.a. not 3.59%.

      You may check this page to compare other high-interest savings accounts.


  6. Default Gravatar
    February 16, 2017

    Hi, I wish to accurately understand your Goal Saver Account from Commonwealth Bank.
    With max variable rate 1.8% and $200 monthly, Bonus variable rate of 1.79% will be added on = 3.59%
    I plan to invest $800,000 for 2 yrs.
    ta, Sally

    • Avatarfinder Customer Care
      February 16, 2017

      Hi Sally,

      Thank you for your question and for contacting – we are a financial comparison website and general information service designed to help consumers make better decisions. Please note that we are not affiliated with any company we feature on our site.

      CBA’s Goal Saver offers a standard variable interest rate of 0.01% p.a. However, you can earn the bonus variable interest rate of 1.79% p.a. to receive the maximum interest rate of 1.80% p.a. on balances up to and including $100,000 if you deposit $200 each month and make no more than one withdrawal per month.

      Please make sure that you’ve read the relevant T&Cs or PDS of this account before acting on the advice and consider whether the product is right for you. 


  7. Default Gravatar
    January 21, 2017

    Can you transfer money out of this account more than once a month?

    • Avatarfinder Customer Care
      January 21, 2017

      Hi Jennifer,

      Thank you for your enquiry.

      You may do more than one withdrawal per month from this Commonwealth Bank Goal Saver Account but you’ll be missing out on the bonus rate once you do more than one withdrawal per month.

      Kind regards,

  8. Default Gravatar
    December 27, 2016

    Does this account have a passbook?

    • Avatarfinder Customer Care
      December 27, 2016

      Hi John,

      Thanks for your question.

      With Commonwealth Bank Goal Saver Account, it doesn’t come with a passbook but you can check your balance from time to time through online banking.


  9. Default Gravatar
    December 6, 2016

    how many withdrawals to receive the bonus rate

    • Avatarfinder Customer Care
      December 6, 2016

      Hi Hanirooth,

      Thanks for your question.

      One of the conditions of receiving the bonus interest on this account is if you make no more than one withdrawal in the month, in addition to depositing at least $200 per month.


  10. Default Gravatar
    September 1, 2016

    Re’ Goalsaver account C0mmbank, if I withdraw $ today, am I entitled to receive interest for the next month?

    • Avatarfinder Customer Care
      September 1, 2016

      Hi Sue,

      Thanks for your inquiry.

      To be able to get the bonus interest, you need to increase your balance by at least $200 by the end of the calendar month and make no more than one withdrawal in that month (earned on balances up to and including $100,000).


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