Here’s how you can increase your CommBank savings interest rate in under a minute, at absolutely no cost.
It’s essentially free money, and who doesn’t like free money?
First, log onto NetBank on your browser here.
Once you’ve logged in, head over to the ‘Settings’ page by clicking on ‘Settings’ up top.
Then click on ‘Switch account options’.
On the ‘Compare & switch account options’ page, select your saver (or savers if you’re doing this more than once) and click ‘GO’.
Now all you need to do to get an extra 0.15% interest (u/Foofski on Reddit commented it got him an extra 0.85%!) on your saver per year for 3 months for free is to click on ‘SWITCH TO THIS OPTION’.
And that’s it. You’ve just given yourself 0.15% more interest per year for free. Time to do it to your other savers if you have any.
Anything else I need to know?
At the end of the bonus rate period, which is 3 months, your saver’s interest will revert back to the whatever the interest rate is at that time. You may be able to do this again when that happens.
Other fees may also apply, but when I did it, it was absolutely free. Check it out for yourself!
If you’re looking for a bank with a better interest rate and app, check out my review of Up Bank here.