Commonwealth Bank of Australia has launched a free online
savings account that offers a bonus interest rate to customers who
regularly increase their balance.
The launch of the GoalSaver account is a sign that Australian
banks continue to battle for customer deposits.
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Customers who increase their account balance
by at least A$200 per and make no more than one withdrawal within a
calendar month will receive a 6% bonus rate.
Those who do not meet the minimum requirements
will receive 3%, Ross McEwan, Commonwealth Bank’s group executive
retail banking services said.
The GoalSaver account features include:
- No account service fee;
- Bonus interest paid when the account balance increases by at
least A$200 from the opening monthly balance (deposits) and if no
more than one withdrawal is made in a calendar month; - No minimum or maximum limit on withdrawals; and
- Manage account online, in-branch or over the phone.
On 12 February, NAB launched a campaign on Twitter and YouTube,
urging customers to follow the bank in ‘breaking up’ with its other
three big rivals – CBA, ANZ and westPac – and move their mortgage
loans to NAB.
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By GlobalDataThe bank offered to pay the A$700 exit fees that WestPac and NAB
charge.
