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    • Commonwealth Bank term deposit reviews

    How are Commonwealth Bank term deposits rated by the Mozo community?

    75%

    Overall Mozo Community rating: 7.5 out of 10

    Commonwealth Bank term deposits

    Overall rating: 7.5 (128 reviews)

    Last reviewed: 30 January 2012


    11. Overall customer rating
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    Reviews: 376

    Thumbs up: 332 | Thumbs down: 44

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    • interest rate

      5.00%

    • minimum deposit

      $5,000.00

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    • minimum deposit

      $1,000.00
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      3.46%

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      $10,000.00
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    Recent Commonwealth Bank term deposit reviews

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        11. Overall customer rating
        12. (Reviewed 10 days ago)

      I like the Goal Saver term deposit account because the interest is quite high if you follow the rules. 6% pa. Otherwise it is 3%pa. The benefits of this account is that it encourages you to save by limiting you to one withdrawal a month and...       Full review 

      I like the Goal Saver term deposit account because the interest is quite high if you follow the rules. 6% pa. Otherwise it is 3%pa. The benefits of this account is that it encourages you to save by limiting you to one withdrawal a month and you must have $200 more in the account than you did at the start of the month to receive the bonus interest. This account isn't for you if you need a flexible account that gives you access to your money freely without loosing the bonus interest. It should be used as a way to save money that you know you won't need in the short term. As a student at University I have found this account to be more than satisfactory as it set me on a disciplined route to save my meager earnings. I was able to save over $7000 in less than one year thanks to this account (which is excellent considering I can only work one day a week) I would recommend this account to anyone that has a long term goal in mind and wants to stick to regular payments with no penalties if you decide that you need the money one day and withdraw it all, as you are not in any contract.


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      Commonwealth Bank Term Deposit reviewed by Joel from Victoria

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        11. Overall customer rating
        12. (Reviewed 10 days ago)

      If you deposit over $5000 in this term deposit you can receive monthly interest which can get paid into your nominated account or can put it straight back into the term deposit. You can also deposit funds into the term deposit every month, but if ...       Full review 

      If you deposit over $5000 in this term deposit you can receive monthly interest which can get paid into your nominated account or can put it straight back into the term deposit. You can also deposit funds into the term deposit every month, but if you withdraw funds out of the term deposit you loose interest for that particular month.


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      Commonwealth Bank Term Deposit reviewed by Wally from New South Wales

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        11. Overall customer rating
        12. (Reviewed 11 days ago)

      The term deposit offered by this bank is not competitive. I keep most of my money in ING. I keep commbank savings in small denominations, because of ease of transferring funds from one account to another.       Full review 

      The term deposit offered by this bank is not competitive. I keep most of my money in ING. I keep commbank savings in small denominations, because of ease of transferring funds from one account to another.


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      Commonwealth Bank Term Deposit reviewed by Nina from New South Wales

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        11. Overall customer rating
        12. (Reviewed 11 days ago)

      It's very important to shop around for the best investment rate while at the same time, make sure that which ever bank you choose has a good reliable reputation and has the experience and capability to competively invest your funds wisely - with t...       Full review 

      It's very important to shop around for the best investment rate while at the same time, make sure that which ever bank you choose has a good reliable reputation and has the experience and capability to competively invest your funds wisely - with the best possible rate and protection available


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      Commonwealth Bank Term Deposit reviewed by Joann from Queensland

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        11. Overall customer rating
        12. (Reviewed 13 days ago)

      I believe that they want my business, so they go all the way with helping me. Such as showing me how long I should invest for. They know that as a pensioner I need a little extra money now & then so it only goes in for a short term. I believe that...       Full review 

      I believe that they want my business, so they go all the way with helping me. Such as showing me how long I should invest for. They know that as a pensioner I need a little extra money now & then so it only goes in for a short term. I believe that you need to get 1 person on side with you and everything just happens. Now I just ring up or she rings me and makes me feel very important. Thank you.


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      Commonwealth Bank Term Deposit reviewed by a Mozo reviewer from New South Wales

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        11. Overall customer rating
        12. (Reviewed 13 days ago)

      The staff are extremely helpful, always have a smile, will do their utmost to get a better rate, quick attention, always explain any question asked of them and clearly explains the full details of the transaction.       Full review 

      The staff are extremely helpful, always have a smile, will do their utmost to get a better rate, quick attention, always explain any question asked of them and clearly explains the full details of the transaction.


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      Commonwealth Bank Term Deposit reviewed by Jean from Queensland

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        11. Overall customer rating
        12. (Reviewed 18 days ago)

      The bank does not offer rates to entice depositors. Rates are similar to other major banks. There is no advantage or incentive through higher interest rates to open an online account- unlike competitors such as ING and UBank. Bank staff are non r...       Full review 

      The bank does not offer rates to entice depositors. Rates are similar to other major banks. There is no advantage or incentive through higher interest rates to open an online account- unlike competitors such as ING and UBank. Bank staff are non responsive to requests to match rates.


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      Commonwealth Bank Term Deposit reviewed by Charles from Victoria

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        11. Overall customer rating
        12. (Reviewed 27 days ago)

      RULES WERE NOT EXPLAINED CLEARLY SO WE LOST AND THE BANK BENEFITTED AS A RESULT! We had a term deposit which ran for a year. When it finished, we assumed it could roll over and continue for another year, which it did. The interest earned in the se...       Full review 

      RULES WERE NOT EXPLAINED CLEARLY SO WE LOST AND THE BANK BENEFITTED AS A RESULT! We had a term deposit which ran for a year. When it finished, we assumed it could roll over and continue for another year, which it did. The interest earned in the second year however was really low - maybe around 2% or thereabouts. We assumed this was because of the economic downturn and it wasn't until another year had passed and we went to the bank to withdraw the money because of the low rate that we discovered the real reason. This was not explained when we initially invested BUT we were THEN told that we should have physically gone in to the bank and re-entered our term deposit and if we'd done this we would have had, I think around 5.5 or 6.5% interest during that year. But we did not get that!


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      Commonwealth Bank Term Deposit reviewed by Win from Victoria

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        11. Overall customer rating
        12. (Reviewed 27 days ago)

      We do value our term deposits as they have to pay our rates etc. however when they drop which is wonderful for those with a morgage etc. it does put pressure on we who have saved all our lives....not like today's post war generations who MUST have...       Full review 

      We do value our term deposits as they have to pay our rates etc. however when they drop which is wonderful for those with a morgage etc. it does put pressure on we who have saved all our lives....not like today's post war generations who MUST have all the present goodies yesterday, how would they like to be living with power off from 10PM till 6AM and coupons for food and clothing etc.


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      Commonwealth Bank Term Deposit reviewed by Norelle from Queensland

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        11. Overall customer rating
        12. (Reviewed about 1 month ago)

      The commonwealth bank has competitive rates for term deposits. When compared to their competitors, they are willing to debate a better percentage rate for their customers. Even .25 basis increase can help self retirees manage there lives in a more...       Full review 

      The commonwealth bank has competitive rates for term deposits. When compared to their competitors, they are willing to debate a better percentage rate for their customers. Even .25 basis increase can help self retirees manage there lives in a more secure retirement.


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      Commonwealth Bank Term Deposit reviewed by David from South Australia

      1 person found this review helpful – do you?

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        11. Overall customer rating
        12. (Reviewed about 1 month ago)

      Commonwealth needs to provide comparable rate data to allow customers to choose the best erm deposit option. The Bank needs to clearly display the current interest rate on their web site. And make options within their product range easy to compare...       Full review 

      Commonwealth needs to provide comparable rate data to allow customers to choose the best erm deposit option. The Bank needs to clearly display the current interest rate on their web site. And make options within their product range easy to compare with other products and other institutions.


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      Commonwealth Bank Term Deposit reviewed by Alistair from Victoria

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        11. Overall customer rating
        12. (Reviewed about 1 month ago)

      Terms deposits with this bank are competitive and therefore I can have most of my banking products with the one bank which then gives me relationship banking with no fees paid       Full review 

      Terms deposits with this bank are competitive and therefore I can have most of my banking products with the one bank which then gives me relationship banking with no fees paid


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      Commonwealth Bank Term Deposit reviewed by Margaret from South Australia

      1 person found this review helpful – do you?

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        11. Overall customer rating
        12. (Reviewed 3 months ago)

      The interest rate offered to me was not on par with rates offered by the other big banks and - as a long standing client - I expected some degree of loyalty in return, as I am fully aware that many other banks have discretionary rates for their mo...       Full review 

      The interest rate offered to me was not on par with rates offered by the other big banks and - as a long standing client - I expected some degree of loyalty in return, as I am fully aware that many other banks have discretionary rates for their most loyal clients.


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      Commonwealth Bank Term Deposit reviewed by Elly from New South Wales

      4 people found this review helpful – do you?

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        11. Overall customer rating
        12. (Reviewed 3 months ago)

      The commonwealth Bank has always been there for us, sure there are probably better rates form some of the Boutique Banks around but we feel that they will still be there if things go wrong. They will probably be the last man standing!       Full review 

      The commonwealth Bank has always been there for us, sure there are probably better rates form some of the Boutique Banks around but we feel that they will still be there if things go wrong. They will probably be the last man standing!


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      Commonwealth Bank Term Deposit reviewed by Debbie from South Australia

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        11. Overall customer rating
        12. (Reviewed 3 months ago)

      I personaly do not like banking with the Commonwealth bank as their products are not very appealing to me. I used to bank with them and I found their staff was not very accommodating to my needs. Also their rates are not very competitive with othe...       Full review 

      I personaly do not like banking with the Commonwealth bank as their products are not very appealing to me. I used to bank with them and I found their staff was not very accommodating to my needs. Also their rates are not very competitive with other banks. I do not recommend this bank to others as I have had issues with them in the past before I found a bank I like to bank with.


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      Commonwealth Bank Term Deposit reviewed by Loula from Victoria

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        11. Overall customer rating
        12. (Reviewed 3 months ago)

      The more cash you have to invest, the more they have to offer. It pays to see an independant finacial adviser before talking to any banking institution...       Full review 

      The more cash you have to invest, the more they have to offer. It pays to see an independant finacial adviser before talking to any banking institution...


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      Commonwealth Bank Term Deposit reviewed by Michael from Queensland

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        11. Overall customer rating
        12. (Reviewed 3 months ago)

      The pros are that the interest rate is very competitive and you don't need a large sum of money to invest. It also doesn't lock you into a term deposit but only gives interest if you deposit each month and don't withdraw from the account. Makes it...       Full review 

      The pros are that the interest rate is very competitive and you don't need a large sum of money to invest. It also doesn't lock you into a term deposit but only gives interest if you deposit each month and don't withdraw from the account. Makes it a good incentive to save!


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      Commonwealth Bank Term Deposit reviewed by Tanya from New South Wales

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        11. Overall customer rating
        12. (Reviewed 3 months ago)

      I find that the CBA's staff are extremely helpful and they are always willing to try to match interest rates of their Term Deposits with other outlets (and usually do). On a separate subject, I consider that the ATM charges for another bank's out...       Full review 

      I find that the CBA's staff are extremely helpful and they are always willing to try to match interest rates of their Term Deposits with other outlets (and usually do). On a separate subject, I consider that the ATM charges for another bank's outlet to be outrageouus, expecially when their, adjacent, ATM is out of service. .


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      Commonwealth Bank Term Deposit reviewed by Robina from New South Wales

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        11. Overall customer rating
        12. (Reviewed 3 months ago)

      This is a great product to act as a rental guarantee or similar as you can keep control of your cash while satisfying the landlord's requirements and recieve a good level of interest as a return. Also a good place to put some cash if you are savi...       Full review 

      This is a great product to act as a rental guarantee or similar as you can keep control of your cash while satisfying the landlord's requirements and recieve a good level of interest as a return. Also a good place to put some cash if you are saving a deposit for a house etc.


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      Commonwealth Bank Term Deposit reviewed by Geoff from Victoria

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        11. Overall customer rating
        12. (Reviewed 3 months ago)

      Term deposits are the best as you know exactly how much interest you are going to get. Don't take this out if you can't lock your money away for a set period.       Full review 

      Term deposits are the best as you know exactly how much interest you are going to get. Don't take this out if you can't lock your money away for a set period.


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      Commonwealth Bank Term Deposit reviewed by Trish from Victoria

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        11. Overall customer rating
        12. (Reviewed 3 months ago)

      I recently signed up for a term deposit with the Commonwealth Bank and made an appointment to discuss my options. I took a look at their interest rates and realised there was another bank offering a better rate for the same amount of time and ment...       Full review 

      I recently signed up for a term deposit with the Commonwealth Bank and made an appointment to discuss my options. I took a look at their interest rates and realised there was another bank offering a better rate for the same amount of time and mentioned it to them, but they did little to negotiate with me on their rate. I found this slightly annoying as I have been with the bank for over 10years and have been an A1 customer in terms of payments and have consistently kept my funds with them. I think that as a single young female they talked down to me a little which was irritating, despite having a fair amount to invest in the term deposit. Also at the maturity of my deposit I was called four times by the bank to ask what my plans are for the funds, which I thought was an indication of them wanting to 'make sales' so to speak rather than listening to what the customer wanted. I'm considering moving my funds to another bank as I have been unimpressed with the service offered to me at Commonwealth.


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      Commonwealth Bank Term Deposit reviewed by Anna from Queensland

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        11. Overall customer rating
        12. (Reviewed 4 months ago)

      I put a large sum of money into a term deposit for 1 year. I had told the person in the bank that I would probably draw money out before that. I was not told that they would charge $30 for every withdrawal.       Full review 

      I put a large sum of money into a term deposit for 1 year. I had told the person in the bank that I would probably draw money out before that. I was not told that they would charge $30 for every withdrawal.


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      Commonwealth Bank Term Deposit reviewed by Wendy from Queensland

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        11. Overall customer rating
        12. (Reviewed 4 months ago)

      My Term Deposit is so flexible. They really listen to you. If you need to take out some money before the maturity date then you only have to pay a very mininal amount to do so. When your Term Deposit matures they let you know in plenty of time, so...       Full review 

      My Term Deposit is so flexible. They really listen to you. If you need to take out some money before the maturity date then you only have to pay a very mininal amount to do so. When your Term Deposit matures they let you know in plenty of time, so you can decide, what you want to do with the next Term. You have a variety of terms to pick from with a wide range of interests. I am very very happy with the Commonwealth Bank, I have all my accounts with them. Credit Card, Savings, and Internet Account as well. Happy Happy Happy


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      Commonwealth Bank Term Deposit reviewed by Jean from Victoria

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        11. Overall customer rating
        12. (Reviewed 4 months ago)

      The customer service was extremely valuable in assisting in the purchase of this product and would highly recommend this bank for this product.       Full review 

      The customer service was extremely valuable in assisting in the purchase of this product and would highly recommend this bank for this product.


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      Commonwealth Bank Term Deposit reviewed by Grace from Victoria

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        11. Overall customer rating
        12. (Reviewed 4 months ago)

      This offers a very good rate of return and has flexible terms to choose from and options at maturity.       Full review 

      This offers a very good rate of return and has flexible terms to choose from and options at maturity.


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      Commonwealth Bank Term Deposit reviewed by Alan from Western Australia

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        11. Overall customer rating
        12. (Reviewed 4 months ago)

      All one can say regarding Commonwealth Bank is, as long as they do the job, then they, & their face-less, behind-the-scenes operators deserve my thanks. Otherwise, SOME of the counter staff, are (sometimes) inadequate, and are only there for a la...       Full review 

      All one can say regarding Commonwealth Bank is, as long as they do the job, then they, & their face-less, behind-the-scenes operators deserve my thanks. Otherwise, SOME of the counter staff, are (sometimes) inadequate, and are only there for a laugh!!!


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      Commonwealth Bank Term Deposit reviewed by Marianne from New South Wales

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        11. Overall customer rating
        12. (Reviewed 4 months ago)

      they have an excellent reputation and are totally reliable and secure. Staff are always very friendly and helpful and professional. Rates are competitive. It may not have the highest interest rate but know your money is secure unlike others with t...       Full review 

      they have an excellent reputation and are totally reliable and secure. Staff are always very friendly and helpful and professional. Rates are competitive. It may not have the highest interest rate but know your money is secure unlike others with their big promises.


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      Commonwealth Bank Term Deposit reviewed by Terry from Western Australia

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        11. Overall customer rating
        12. (Reviewed 5 months ago)

      great people, products and offers. Heaps of branches and always there when I need them       Full review 

      great people, products and offers. Heaps of branches and always there when I need them


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      Commonwealth Bank Term Deposit reviewed by Lynette from New South Wales

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        11. Overall customer rating
        12. (Reviewed 5 months ago)

      I like the fact that it is secure, I know what return I am going to get on my money and the various options I have for the payment of interest.       Full review 

      I like the fact that it is secure, I know what return I am going to get on my money and the various options I have for the payment of interest.


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      Commonwealth Bank Term Deposit reviewed by Deb from South Australia

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        11. Overall customer rating
        12. (Reviewed 5 months ago)

      ease of setting up anytime       Full review 

      ease of setting up anytime


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      Commonwealth Bank Term Deposit reviewed by Nga from Victoria

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