CommBank Review 2026 — Fees, Savings, Home Loans and App
This article provides general information only and does not constitute financial advice. For advice tailored to your situation, consult a licensed financial adviser. Learn more.
Contents
Commonwealth Bank (CommBank) is Australia’s largest bank by assets and the most widely used retail bank, with approximately 17 million customers. It is listed on the ASX (ticker: CBA) and is consistently ranked as one of the most valuable companies in Australia.
This review covers CommBank’s everyday banking, savings accounts, credit cards, and home loans — with a focus on who CommBank suits and where competitors may serve you better.
This is general information only, not a personal recommendation. Rates and fees change — verify with CommBank directly before deciding.
CommBank at a Glance
| Founded | 1911 (government-owned until 1996) |
| Customers | ~17 million |
| Branches | Largest network in Australia |
| ATMs | Access to 3,000+ branded ATMs + fee-free at major retailers |
| App store rating | 4.8+ (consistently top-rated Australian banking app) |
| APRA regulated | Yes — deposits protected to $250,000 under the FCS |
Everyday Banking
Smart Access Account
CommBank’s main transaction account. Features include:
- Monthly fee: $4/month, waived if you deposit $2,000+ per month
- Debit Mastercard (tap-and-pay, Apple Pay, Google Pay)
- Cardless cash withdrawals from CommBank ATMs
- Lock, block, and limit card controls in the app
- Salary advance (CommBank Advance) for eligible customers
- Free cash withdrawals at CommBank ATMs and most retail checkout
Best for: People who can meet the $2,000/month deposit condition (most salary earners qualify automatically).
Savings Accounts
NetBank Saver
A straightforward online savings account:
- Base rate applies at all times (no conditions required)
- Introductory bonus rate for the first 5 months for new accounts
- No monthly fees
- Instant access to funds
GoalSaver
A goal-based savings account with a conditional bonus rate:
- Earns the base rate plus a bonus rate when you deposit money and make no withdrawals in the calendar month
- Designed for building toward a savings goal
- No monthly fees
Note: CommBank’s savings rates are typically below ING, Macquarie, and Ubank. If maximising your savings rate is the priority, comparison shopping is worthwhile.
Credit Cards
CommBank offers a range of credit cards from low-rate to premium rewards:
| Card | Annual fee | Key feature |
|---|---|---|
| Low Rate Credit Card | ~$59/year | Low purchase rate |
| Smart Awards | ~$99/year | CommBank Awards points on spending |
| Ultimate Awards | ~$420/year | High earn rate, complimentary travel insurance |
| Neo (BNPL-style) | No interest — monthly fee | Instalment-based spending |
| Altitude Black (via Bankwest) | ~$370/year | Qantas or Altitude points |
CommBank is part of the Mastercard network. The Smart and Ultimate Awards cards earn CommBank Awards points, which can be converted to Qantas, Singapore Airlines KrisFlyer, and other frequent flyer programs.
Home Loans
CommBank offers a full range of home loan products:
- Variable rate loans: standard and offset-linked options
- Fixed rate loans: 1–5 year terms
- Wealth Package: bundles home loan with fee discounts on accounts and credit cards (annual package fee applies)
- Extra Home Loan: no offset, but lower rate
CommBank’s rates are generally in line with the Big Four market average. For the most competitive rate, a mortgage broker comparison is usually worthwhile regardless of which lender you end up with.
The CommBank App
CommBank’s app is consistently ranked Australia’s best banking app. Notable features include:
- Spend tracker: automatic categorisation of transactions
- Bill management: upcoming bills and predictions
- Benefits Finder: identifies government rebates and benefits you may be eligible for
- Health Check: financial fitness snapshot
- Property insights: suburb-level data for home buyers
- Free credit score: powered by Equifax, updated regularly
- Bill Sense: predicts upcoming bills based on your history
The app also supports digital wallets, instant card locking, and biometric authentication.
Pros and Cons
Pros:
- Best-in-class mobile app
- Largest branch and ATM network in Australia
- Wide product range covering every life stage
- Benefits Finder helps customers claim government entitlements
Cons:
- Savings rates below challenger banks (ING, Macquarie, Ubank)
- Some accounts have monthly fees if deposit conditions aren’t met
- Home loan rates not always the most competitive
- Credit card annual fees on rewards cards are high
Who Is CommBank Best For?
CommBank suits Australians who value convenience, branch access, and a comprehensive digital experience — and who deposit at least $2,000/month (removing the account fee). It is also a strong choice for anyone who wants all their products (everyday, savings, home loan, credit card) in one place.
If your primary goal is maximising savings interest, challenger banks such as ING, Macquarie, or Ubank typically offer higher conditional rates. For home loan rates, always compare across multiple lenders or use a broker.
FAQ
Does CommBank charge fees? The Smart Access account charges $4/month if you deposit less than $2,000 per calendar month. Most savings accounts have no monthly fee. Credit card annual fees vary by card.
Is CommBank safe? Yes. CommBank is an APRA-regulated ADI. Deposits up to $250,000 per person are protected under the Australian government’s Financial Claims Scheme.
Can I get a CommBank account without a branch visit? Yes — you can open a Smart Access account entirely online or in the app in minutes, including identity verification.
For advice on which banking products suit your circumstances, speak with a licensed financial adviser. You can find one via MoneySmart. See also: ANZ Review | Australian Banks Compared