CommBank Private Bank Account
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Private Bank Account is a cash management account from CommBank. At $50,000 it pays 0.95% p.a. with no bonus conditions. The feed calls it "Commonwealth Private Bank Account".
Rate tiers
Every balance band in the bank's feed: base is the rate the bank pays.
| Balance | Base |
|---|---|
| $0 – $999,999.99stepped: paid on the part of the balance in this band | 0.95% |
| $1,000,000 – $4,999,999.99stepped: paid on the part of the balance in this band | 1.60% |
| $5,000,000+stepped: paid on the part of the balance in this band | 2.60% |
The rates are stepped: each band's rate is paid on the part of the balance that falls in it, so a balance across several bands earns a blend of them.
Conditions
- exclusive to commonwealth private clients; open through a private banker
Features
- card
- Debit Mastercard
- app
- yes
- Osko
- yes
- PayID
- yes
- PayTo
- yes
- BPAY
- yes
- transactions
- unlimited
- wallets
- Apple Pay, CommBank Tap and Pay, Fitbit Pay, Garmin Pay, Google Pay, Samsung Pay
Other features, in the bank's words:
- Securely lock your debit card in the CommBank app when you need to. And unlock it again when you don't.
- Access a range of travel benefits through Travel Booking (provided by Hopper) for eligible customers.
- Free assisted withdrawal is available for you to take money out at a Commonwealth Bank branch or a post office or agency, with telephone banking if using an operator, or by cashing a cheque.
- You are not required to have a card to use this product.
- Manage payments from your bank account using PayTo.
- Use QR Cardless to withdraw cash or deposit notes, coins and cheques (subject to product eligibility) by using the latest version of the CommBank app to scan a QR code at a compatible CommBank ATM.
Fees, limits and who can open it
- monthly fee
- $0
- other fees named
- Access fee - Other overseas cash and ATM withdrawals, Access fee - Overseas purchases (no amount in the feed)
- interest paid
- monthly
- interest calculated
- daily
- age
- ages 18 and over
- open to
- personal and business customers
- linked account
- a linked or nominated transaction account is required
- existing customers
- existing customers only
Who can open it, in the bank's own words:
- 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.
About this account
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.
Data
- CommBank's own page for this account.
- The bank's documents its product record links to: terms and conditions, fees.
- Our verbatim snapshot of the bank's product record (source), as fetched on 13 November 2026.
- We read the bank's own page and terms against this page on 1 November 2026: CBA1026_Commonwealth_Private_TCs.pdf, TSI_interest_rates.pdf; conditions they state and its feed does not are listed above.
/au/finance/savings-accounts/v1/brands/commbank.json: this bank's accounts and every balance band as JSON; CommBank's page lists them.- The bank last updated this record on 13 November 2026. Rates are per annum as the bank states them; "stale" means the bank has not updated the record for over 60 days or since the latest cash rate change.
Other accounts at CommBank
- Business Online Saver savings account, 1.15% base at $50,000
- GoalSaver savings account, 5.50% conditional at $50,000
- NetBank Saver savings account, 2.50% base at $50,000
- Pensioner Security Account savings account, 1.49% base at $50,000
- SMSF Saver savings account, 5.15% base at $50,000
- Youthsaver Account savings account, 5.55% conditional at $50,000
- Cash Deposit Account (At Call) cash management account, 0.25% base at $50,000
- Direct Investment Account cash management account, 1.60% base at $50,000
- Capital Growth Account savings account
- CommSec Notice Investor notice account, 0.00% base at $50,000
- Business Transaction Account transaction account
- Smart Access transaction account
- Society Cheque Account transaction account
- Standard Business Cheque Account - Interest Bearing Option transaction account, 0.01% base at $50,000
- Streamline Basic transaction account
All of CommBank's accounts on its page, with its best rates per segment and rate kind, and every account at every bank.
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