CommBank Commonwealth Private Bank Account
No conditions on the rate
The Commonwealth Private Bank Account is an interest bearing transaction account which pays a banded interest rate and is exclusively available to Commonwealth Private Bank clients.
- Base rate up to
- 2.35%
- Introductory rate
- None
- Maximum balance
- None published
Rate a year, up to
Rates by balance
| Balance | Base rate |
|---|---|
| $0 to $1,000,000 | 0.70% |
| $1,000,000 to $5,000,000 | 1.35% |
| $5,000,000 and over | 2.35% |
Who can open it
- Age to open
- 18 and over
- Maximum balance
- None published
Who it's for
- The Commonwealth Private Bank Account is available to non-personal customers who have a domestic business, an ABN or ACN with signatories aged 18 and above or signatories after 16 to 18 with another signatory being at least 18 years old; or be a foreign company that carries on business within Australia, registered with ASIC and be determined on a case by case basis.
How it compares
Against the other savings accounts we compare. Typical means the middle half of them.
Most it pays
2.35%
At its best balance, with any bonus. Typical is 3.65%.
Base rate
2.35%
What it pays without a bonus. Typical is 2.40%.
Pros and cons
Pros
- No conditions. You earn the same rate every month, with no deposits to make or withdrawals to avoid.
Cons
- A lower rate. Up to 2.35%, below the typical 3.65%, so your savings grow more slowly than in many other accounts.
Similar savings accounts
Savings accounts from other banks that pay a similar rate at their best.
- Most it pays
- 2.35%
- Bonus conditions
- None
- Most it pays
- 2.40%
- Bonus conditions
- None
- Most it pays
- 2.40%
- Bonus conditions
- None
