This was posted 1 year 2 months 27 days ago, and might be an out-dated deal.

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Bonus 2.05% p.a. Interest (Total 3.65% p.a.) for 3 Months on Netbank Saver Accounts (Activation Required) @ Commbank

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Bonus 2.05% p.a. Interest (Total 3.65% p.a.) for 3 Months on Netbank Saver Accounts (Activation Required) @ Commbank
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Scrooge McDeal on 31/01/2023 - 07:48 commbank.com.au (564 clicks)
Last edited 31/01/2023 - 15:29 by 2 other users

Before you all start about how horrible Comm Bank is and how bad the rate is comparing to other banks, I post for people that for any reason the don't want to change bank.

Now the Standard Variable Rate it's 1.60% + the 2.05% bonus 3 month offer = 3.65%
Most probably it's targeted, some people might get for a longer period.

Remember these post it's to help people save. During these time of high prices and inflation every little bit helps. No negativity here please. ✌️

Edit: For anyone that doesn't want to log in to Commbank website, you can also do it in the app. Just type Compare & Switch on the search bar in the app. Select compare and switch account. Enter your pin and it will direct you to the Comm bank website.

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closed Comments

  • StarPlatinum on 31/01/2023 - 08:02
    +14

    This is bad compared to other banks where it’s much higher and isn’t just for 3 months

      • sss333 on 31/01/2023 - 08:06
        +4

        No negativity here please

        If there's better deals they should be pointed out

        Anyway they've offered me more months at a higher rate

      • SF3 on 31/01/2023 - 09:59
        +1

        Read description please

        People can have options such as banks and don't have to follow "just because" some random person said so.

        This is like letting the market sort itself out.

    • sheikyerbouti on 31/01/2023 - 09:22
      -1

      Some people are required to bank with CBA, or at least are not permitted to bank with some of the others which offer higher rates.

      • sheikyerbouti on 31/01/2023 - 09:56
        +1

        To whoever downvoted this, you clearly don't understand the restrictions on being a Big 4 audit partner. You're not allowed to bank with the instiutions you are responsible for auditing.

  • hnl on 31/01/2023 - 08:04

    Helping people save for 3 months and make cba richer afterwards?

  • aneil915 on 31/01/2023 - 08:11
    +8

    My offer is 4% intro rate for 5 months

    • snappy1234 on 01/02/2023 - 02:22

      Yep my offer is the same.

  • Scrooge McDeal on 31/01/2023 - 08:12
    +10

    I am not associated and I have nothing to gain by posting. I just post the deal for people that for any reason don't want to move to another bank. I know there are a plethora of other banks with much higher rates. I thought ozbargain it's to help people. And that's what I am doing. People can choose what to do.

    • Igaf on 31/01/2023 - 12:18

      Hear hear. Your reasoning was simple enough and is backed by research. It's changing but consumer inertia is a reality with banks, and it costs $Billions apparently. Ditto for private health insurance companies.

  • WoodenSpoon on 31/01/2023 - 08:12

    Mine is bonus 2.15% for 8 months. Total 3.75%

    • Sidor on 31/01/2023 - 10:30

      I think I got the same, 3.75%
      Did not take a screenshot though

      Edit: just checked and I got 4%, but for 5 months only.

  • sw0rdy on 31/01/2023 - 08:16

    I got bonus 2.4% for first 5 months (total 4%).

  • nonoannie on 31/01/2023 - 08:24

    better than goal saver 3.25%

  • greatlamp on 31/01/2023 - 08:35
    +5

    Thank you, I've set this up for my parents who aren't going to setup a new bank account and learn a new app for the small amount of money in their savings account.

    CBA is a shit bank, but thanks for the efforts

  • 87percent on 31/01/2023 - 08:37

    you cannot withdraw directly from Netbank Saver, can you? you need to transfer to another account, and then withdraw?

  • M00Cow on 31/01/2023 - 08:47
    +3

    I know there are a plethora of other banks with much higher rates.

    Remember these post it's to help people
    save.

    So send them to ANZ 3.75%, ubank 4.10%

    You know when someone spends most of their post defending why they posted it, it'll be a dud.

    • Scrooge McDeal on 31/01/2023 - 08:57
      -6

      Are you implying that I am associated? Seriously, I am not defending Comm Bank. Their rates are horrible as I have stated. But these deal is for people that for any reason don't want to change banks.I don't get it why people are so negative.

      • M00Cow on 31/01/2023 - 11:15
        +1

        Are you implying that I am associated?

        Nope, not sure how you even construed that.

        I don't get it why people are so negative.

        First rule of Ozbargain post bargains, this isn't.
        Second rule don't take criticism of posted deals personally.

        You've posted a deal which you even point out isn't even a deal (as there's better rates to be had elsewhere), you've said

        During these time of high prices and inflation every little bit helps

        So why would you consider this a deal when you can get much better deals elsewhere? It's like me posting there's 20% off magnums at Coles, then saying they're 50% off at Woolies.

        Don't let the comments make you stop posting, but don't whinge when people comment that there's a better deal elsewhere, especially when you already knew there was.

        Good luck! Again don't take it personally.

        • Igaf on 31/01/2023 - 12:24
          +4

          As he explained, it's a deal for existing customers who didn't know about it. Just that same as someone alerting others to better deals available from their current energy providers (amazingly plenty of people still don't enquire about the best deal available). Like most deals it's not for everybody.

          Already we have comments from people saying they've received better offers from Commbank. This gives others some leverage to negotiate better rates for themselves.

  • strayan on 31/01/2023 - 08:49

    Are there any balance limits?

    • Scrooge McDeal on 31/01/2023 - 08:51
      +1

      That I don't know. You might need to check for details on Comm bank website or maybe at a branch.

      • strayan on 31/01/2023 - 08:53

        Would be a sensational deal if the bonus rate is applied to your entire balance.

        • sheikyerbouti on 31/01/2023 - 09:21
          -1

          It was for me, I was getting over $500 interest a month with the last version of this boost. But now Ive reverted to the standard variable rate (1.6%) and have just activated this offer to boost it again. Thanks OP.

  • tharlow on 31/01/2023 - 09:12
    -2

    There is a reason CBA is the biggest bank in Australia — it is clearly the best in terms of customer service, and it offers market-leading products which the other banks are left scrambling to catch up with. Why settle for less?

    Some people have better things to do with their time than be a rate tart.

    • abs898 on 31/01/2023 - 09:23
      +1

      I would agree with that, been personally with ANZ,NAB,CBA, Bendigo and HSBC.

      In terms of customer service CBA has been the best. They can fix everything on the phone and have never asked me to come to a branch.

      NAB stopped me from taking my own money out and locked my account thinking it's a fraud. That was after I spoke to their fraud team multiple times that I need money to buy a house. Jokes! They sent me to a branch to withdraw funds.

      • greatlamp on 31/01/2023 - 12:19

        I wanted to increase my daily transfer limit at CBA. I waited 1 hour on hold, when they answered they asked me a for my client number and name etc, then told me I had to go into a branch to verify my identity.

        I have never spoken to someone on the phone in less than 30mins.

        • abs898 on 31/01/2023 - 14:56

          And the limit couldn't be changed online?

          Only needed 10-15k from NAB and they won't let me take it even though I had the limit.

          • greatlamp on 31/01/2023 - 15:07

            @abs898: No I wanted to above the limit available online (20k)

  • JohnHowardsEyebrows on 31/01/2023 - 09:13
    +4

    Even with the 'bonus', still well behind ING. No deal.

    • tharlow on 31/01/2023 - 09:30
      -3

      Some people — perhaps even most — will simply sell themselves to the highest bidder. Others won’t touch a dodgy operator like ING because it’s a quagmire of Dutch immorality

      • M00Cow on 31/01/2023 - 11:17
        +2

        UBank, ANZ plus, MacBank, etc

        But yep, money is money and the name of the savings account game is to sell yourself to the highest bidder. You could always stuff your savings under a mattress I suppose if you want to play the ethics game.

      • Igaf on 31/01/2023 - 13:15
        +2

        Unlike the immorality of Australian banks and financial institutions?
        https://asic.gov.au/about-asic/news-centre/find-a-media-rele…

        How soon some forget.

        People not shopping around cost themselves an estimated $6B in this country. Banks love them.

    • Sidor on 31/01/2023 - 10:31
      +2

      Yeah, until ING cancel your account for no reason.

    • aneil915 on 31/01/2023 - 11:09
      +1

      only having a 4 digit login is a deal breaker for me now with ING

  • abs898 on 31/01/2023 - 09:21

    CBA's standard goalsaver is 3.25% at the minute

  • IpGem on 31/01/2023 - 09:31
    +2

    During these time of high prices and inflation every little bit helps. No negativity here please.

    Lol if only banks like comm bank listen to you

  • NarutoBargain on 31/01/2023 - 09:33

    What a joke!

  • Azza890 on 31/01/2023 - 09:34

    This should be removed as its not really a bargain and just bad advice frankly.

    Just because CBA is popular the product is super worse.

  • devize on 31/01/2023 - 09:48
    +1

    Knows it's not a good deal
    Posts about it anyway
    All good because original post says don't neg

    Still negged. There's no deal here.

    • Scrooge McDeal on 31/01/2023 - 09:54
      +5

      You know what I have realized. People that neg are people like you that have never posted a deal and you just take advantage of others peoples time and effort. Pathetic

  • clint-008 on 31/01/2023 - 09:57

    Was only eligible for 3 months fixed special rate +1.65% p.a..

  • xiaozaocha on 31/01/2023 - 10:00
    +4

    'targeted'
    '3 months'
    '3.65%'
    'Activation Required'
    Don't know which one would make me laugh the most.

    dear OP, would you believe these CBA supporters will stick to CBA if they are OZB fans?

  • LemonShapedRock on 31/01/2023 - 10:09
    +3

    I don’t get why these always get negged.

    It’s giving OzBargainers a way to access much higher and competitive rates. CBA arguably has the best app and digital experience and has the largest branch network.

    For some folks that stuff is important.

    • sheikyerbouti on 31/01/2023 - 10:30
      +1

      And as I posted above, some people must bank with CBA/aren't allowed to bank with other institutions that offer higher rates/have a range of finance products not offered by other instiutions.

    • Tnetennba on 31/01/2023 - 15:57
      +2

      IMO CBA had the best app and digital experience but have since easily been caught up to (at the very least) by other banks. E.g. Macquarie has an amazing app IMO and their customer service is just as good as Commbank ever was for me, if not better…

  • Zapwap on 31/01/2023 - 10:50
    +2

    Dear op, it's not about negativity it's always about a deal when you're in ozb.

  • [Deactivated] on 31/01/2023 - 11:27

    Horrible “deal” with plenty of other better, longer-term rates available from other banks. Putting a disclaimer of this in the OP doesn’t negate the fact that this isn’t a deal.

  • GerrardLFC on 31/01/2023 - 11:36

    They only offered me 3.25% for 3 months

  • AussieDaddy on 31/01/2023 - 12:13
    +1

    I can see 4% for 5 months, and it says open "Netbank Saver for the first time". What if I had one in the past and closed it more than a year ago? Does that disqualify me, or I can still get the 4% if I open a new account again?

    • Scrooge McDeal on 31/01/2023 - 12:16

      That I would like to know as well. If I close a Netbank saver account and reopen a new one do I get the introductory rate?

      • sss333 on 31/01/2023 - 13:09

        You used to be able to ask via chat and they'd add the option to upgrade your current account to it but now they moved to a bot might be more difficult

    • Danam on 10/02/2023 - 19:08

      Did you ever find an answer to this? I closed mine years ago, but wouldn't mind 4% for 5 months if I can get it.

      • AussieDaddy on 11/02/2023 - 08:59

        Yeah, opened one within a minute online and it worked with no issues.

        • Danam on 11/02/2023 - 10:10

          Thanks for that. The Ceba chat assistant is worse than useless.

  • Employeenaru6705 @ Commonwealth Bank on 31/01/2023 - 13:03
    +2

    Yes you are correct OP still horrible

  • Tnetennba on 31/01/2023 - 16:00
    +1

    No thanks. So many banks outdo this. E.g. Macquarie, 4.5% for first 4 months then 3.7% ongoing, including on transaction accounts (not just savings). And that's not even the best around, but it has comparably good features as CBA, no fees (ATM or otherwise), good app, etc…

    Worth switching? Maybe not, but if you've got enough savings that the rate makes much difference, it is always worth at least moving the majority of your savings to the higher rate. Doesn't mean you have to hassle with changing banks completely.

  • AwesomeAndrew on 31/01/2023 - 18:15

    Even ignoring their uncompetitive interest rate, I've had issues with some transactions on my Commbank card randomly getting declined. So I obviously switched to a more competitive bank. I mainly use Virgin Money now, which offers rewards points on debit card transactions and 4.3% interest on savings accounts (4.6% with lock saver, which requires 1 month notice for withdrawals.)

    But when I need to save $100k, a 1% increase in interest rate means extra $1000 per year, which is definitely worth switching banks for. (Yes, I also use BOQ for their 4.75% interest, but that is only good for $50k)

  • wannagrababargain on 31/01/2023 - 18:38
    +5

    Don't understand the "don't want to change bank" logic. Literally the whole purpose of this website is to 'hunt' for bargains where loyalty means nothing and price means everything. Like posting $4 Old Gold chocolate at Woolies when it is $3 at Coles just in case someone "doesn't want to shop at Coles." Complete nonsense.

    • Igaf on 31/01/2023 - 22:04
      +1

      Literally the whole purpose of this website is to 'hunt' for bargains where loyalty means nothing and price means everything.

      Possibly true for many - assuming you're a prime candidate for scams, take no notice of feedback, don't value service and/or honesty, don't value the ability to return stuff without hassle, have no concern about warranties, seller credibility etc. As the saying goes - a fool is someone who knows the price of everything and the value of nothing.

      In this case the reality is that very few people change banks, for a range of reasons. The OP explained this upfront, so if it wasn't for you then it was a clear notice to move on.

  • johnnytran on 31/01/2023 - 19:14

    Just checked my parents account they have 4% offer. Currently have a term deposit for 2% lol. How does this work? Just transfer you’re money in there and get paid 4% interest monthly just like they would with the term deposit?

  • directflight on 01/02/2023 - 06:51

    4.55% is the best I can get at the moment with ING. Some hoops to jump over but that’s ok, Imma be a show pony for the extra dough

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