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Compare Commonwealth Savings Accounts

Compare Commonwealth Savings Accounts – read our review and compare the features and benefits available from Commonwealth. Make an informed decision to find a Savings Account that suits you.

Commonwealth Bank Savings Accounts Review

Commonwealth offers a range of savings accounts, each tailored to meet a specific set of requirements commonly sought after by savers. Each account is different, allowing you to decide which features are most likely to suit your needs, giving you the best support for achieving your saving goals.

Whether you're looking to kick off your savings by making your fist opening deposit, you want to be rewarded for making a single monthly deposit without making any withdrawals, or you wish to deposit savings accumulated over time such as a superannuation fund, so you can to sit back and watch them grow from a great interest rate, Commonwealth savings accounts have a solution that is ideal for your individual needs.

Making your savings plan a reality and achieve your goals with a Commonwealth savings account

Top 5 Savings Accounts products

Account	Interest %p.a	Notice	Interest Paid	Min Bal	Apply
Virgin Saver Get 6.75% for the 1st 4 Months from account opening. Rate then drops to 5.35%p.a. No minimum balance. No monthly Fee.	6.75%	Instant	Monthly	$1	Apply > More Info
UBank USaver NO withdrawal Penalties. Rate includes 0.50% p.a. Bonus. No Min Deposit. Money Magazine 'Best Online Savings Account' 2010 winner.	6.51%	Instant	Monthly	$1	Apply > More Info
Citibank Online Saver Get 6.45% for the 1st 6 Months from account opening. Rate then drops to 5.25%p.a. No minimum balance. No monthly Fee.	6.45%	Instant	Monthly	$1	Apply > More Info
RaboPlus Savings Account No Min balance. No withdrawal Penalties. Standard rate of 5.0%, plus a 1.40% bonus until end of 2010.	6.40%	Instant	Monthly	$0	Apply > More Info
St. George Direct Saver No min balance. NO withdrawal Penalties. Rate includes 1.55% p.a. Bonus for the first 4 months (providing you open before 30 Jun 2010).	6.15%	Instant	Monthly	$0	Apply > More Info

Virgin Saver

The new Virgin Saver with the best rates around. Rates that start high and stay there to ensure customers save faster
A market leading variable introductory of 6.75% for 4 months and an great ongoing variable rate of 5.35%
No fees whatsoever and unlimited free transaction between Virgin Saver and customers linked bank account
No min balances or deposit amount
Access your account online 24/7 to transfer money, set up automatic savings plans, see statements and much more
Savings of up to $1 million dollars are covered by the Australian Government Guarantee through our alliance with Citibank.

UBank USaver

Get high interest rates of 6.51%p.a on your savings
Rate includes a savings bonus of 0.50%
Rates are calculated daily and paid monthly
No monthly account fees
No minimum deposit amount
Maximum balance of $1 million dollars per customer
Set up 'Savings Buckets' - This allows you to set up different accounts for each of your savings goals in just a few clicks, for example 'New car Fund'
Set up an Automatic Savings Plan option that makes regular contributions from another Australian bank account. For example, set up a monthly Automatic Savings Plan for $100 (or more) and receive a Savings Bonus of 0.10%p.a. (for balances up to $150,000)
Make use of the Usaver Goal Tracker online savings tool
Have the flexibility to transfer funds to any Australian account with the Usaver 'Pay Anyone' feature
Have your choice of alerts sent to you via email, SMS or secure mail
Access to a real person at Ubank through a dedicated call centre.

St. George Direct Saver

Get a total of 6.15%p.a
Open a Direct Saver online saving account today and enjoy a fixed bonus rate of 1.55%p.a. above the standard Direct Saver variable rate (4.60%p.a. on 10 May 2010), for 4 months when you open a Direct Saver account before 30 June 2010.
No fees
No minimum balance
Instant funds transfer if linked to St.George account
Unlimited fee-free phone and Internet banking
Interest calculated daily & paid monthly
Open up to 15 multiple directsaver accounts
Use it as your DIY Superannuation.

ANZ Online Saver

Open an ANZ Online Saver by 30 Sept 2010 and you can get your savings off to a flying start. Enjoy bonus interest of 1.50% p.a. on top of the standard variable rate, currently 4.50% p.a., until 31 Jan 2011. There is no minimum balance needed to open the account, meaning you can start your savings plan now. This offer is only available by applying online via the Apply Now button.
No Minimum Balance
Interest is calculated daily and paid quarterly
Safe and secure Government Guarantee on deposits
24/7 State of the art online banking
Terms and conditions, fees and charges apply.

St. George Power Saver

Enjoy a fixed bonus interest rate on top of your standard variable Power Saver rate for 4 months when you open a new Power Saver account between 1 March 2010 and 30 June 2010 and deposit only new funds to St.George Bank
For customers who reside in NSW, ACT, SA or NT the fixed Bonus rate is 2.40%p.a.
For customers who reside in QLD, VIC, WA or TAS, the fixed Bonus rate is 1.55%p.a.
No monthly account fees
Unlimited fee free online and phone transactions
Instant access via branch and ATM/EFTPOS+
Choose a Deposit Only Card, so you won’t be tempted to access your savings at an ATM

NAB iSaver

Get 4.25% p.a. (current standard variable interest rate) + 1.75% (4 months fixed bonus interest rate on new accounts) p.a. = 6.0% p.a. (current NAB iSaver rate on new accounts).
Interest is calculated daily and paid monthly
Open an account with $1
Pay no transaction or account keeping fees
Make unlimited deposits and withdrawals
No Direct ATM withdrawal instead withdraw via transfer to other account or beneficiary.

RaboPlus Savings Account

Earn our special variable rate, currently 6.40% p.a. on balances up to $1 million until 31 December 2010
The special rate is a fixed 1.40% p.a. above our standard variable rate, currently 5.00% p.a.
No fees and no minimum balance
Access to your savings 24 hours a day, 7 days a week
Interest calculated daily, paid monthly
No need to switch banks for your everyday banking
Also available to DIY super and trust accounts

BankWest TeleNet Saver

Earn 6.15% p.a (12 month into offer)
Go to rate of 4.50%p.a. after 12 months
No minimum deposit
New TeleNet Saver customers
Access your account 24/7 via Online Banking
$5m maximum investment

Suncorp E-Options

Earn up to 4.75% p.a. in high interest
No monthly account keeping fees
No minimum balance or deposit
Interest calculated daily
You can access your money by transferring over the internet, from your eOptions account to your everyday account.
You can then withdraw your savings from this account at any time.
To help you save Suncorp will not be issuing you with an ATM card with this account.

Citibank Online Saver

A great introductory rate of 6.45% p.a. for the first 6 months of your account opening.
At the end of 6 months you’ll receive our standard variable interest rate, currently 5.25% p.a.
No account fees
No minimum balance
No fixed terms or hidden catches
Access your money 24 hours a day, 7 days a week through phone and internet banking
Savings up to $1 million will be covered by the Australian Government Guarantee

Commonwealth Bank News

Credit card security code launched by Commonwealth Bank: A new security code system has been launched by the Commonwealth Bank to provide additional protection for online shoppers. ...; Read More >; Tue 31st Aug, 2010
Lower credit card loyalty fees 'affect Commonwealth Bank results': The Commonwealth Bank's recent financial results were affected by lower credit card loyalty fees. ...; Read More >; Thu 12th Aug, 2010
Commonwealth Bank: Debit and credit card transaction value drops 0.3%: The latest Commonwealth Bank Business Sales Indicator has revealed that the transaction value of debit and credit cards reduced in June. ...; Read More >; Tue 20th Jul, 2010
Commonwealth Bank cuts interest rate on fixed rate loans: The interest rate on a number of Commonwealth Bank fixed rate loan products has been decreased. ...; Read More >; Wed 16th Jun, 2010
Commonwealth Bank wins awards, but misses out on credit card accolade: The Australian Financial Institution of the Year award for retail has gone to the Commonwealth Bank. ...; Read More >; Fri 4th Jun, 2010
Rates increased on range of Commonwealth Bank savings accounts: People with Commonwealth Bank savings accounts could be alerted to a planned rate rise. ...; Read More >; Tue 4th May, 2010
Commonwealth Bank ups interest rate on some deposits: Interest rates are set to go up on a selection of Commonwealth Bank deposit and variable home loan accounts. ...; Read More >; Tue 6th Apr, 2010