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Commonwealth Bank Term deposit customer reviews

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Based on 852 term deposit reviews as rated by the Mozo community.
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Recent Commonwealth Bank term deposit customer reviews

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  • Commonwealth Bank Term Deposit

    Untrustworthy

    All banks are the same. Its a buisness I dont expect them to be overly generous or even professional

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    John, New South Wales, reviewed about 1 month ago
  • Commonwealth Bank Term Deposit

    Overall a convenient bank

    I do like the bank and everything is easy to do (depositing money throught one machine unlike other banks) yet I was given false information on term deposits but one banker and a week later I went back in an got told something completely different.

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    Natalia, New South Wales, reviewed 4 months ago
  • Commonwealth Bank Term Deposit

    Overall, I am very happy with the experience. :)

    The person I spoke with at Comm bank was very knowledgeable about the different types of accounts and term deposits they offered and their features. She was also able to give me a very competitive rate on my term deposit. It was a straight forward process and I felt like I was treated like a human being not a number. My personal needs and saving goals were taken into consideration also.

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    Tania, Victoria, reviewed 3 months ago
  • Commonwealth Bank Term Deposit

    Unfair fees

    Exorbitant fees in the event that you redeem a term deposit early. After decades of banking with this bank, an 89 year old tried to withdraw money in a term deposit before the term deposit matured. A fee of over $17,000 was going to be charged for this elderly client to withdraw her money. She was advised that the only circumstances that it could be withdrawn before maturity without this fee was if she died. Is this fair?

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    Mandy, Australian Capital Territory, reviewed 7 months ago
  • Commonwealth Bank Term Deposit

    Don't use a bank that is not competitive.

    They are taking advantage of customer inertia and inability to keep switching banks or products. So, they always pay the lowest return on most rates/terms/products.

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    Andy, Tasmania, reviewed over 1 year ago
  • Commonwealth Bank Term Deposit

    Poor

    Very poor rates of interest and period of term deposit. You can get better offers at other Banks. Most disappointing

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    Robin, Victoria, reviewed over 1 year ago
  • Commonwealth Bank Term Deposit

    If you need a bank that goes out of there way for

    I have found that the commonwealth bank has gave me the best advice on term deposits in regards to the term length and interest rates to maximise my investment earnings

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    Scott, Queensland, reviewed over 1 year ago
  • Commonwealth Bank Term Deposit

    Variable service- not the best rates

    My main issue is it depends so much on the person you are dealing with. I once got so much sass from someone when I asked to have a term deposit rate matched, and then she panicked when I asked to withdraw my money because it was obviously more than she thought I had. But other times I have had no issues. Its just highly variable. Also a bit annoying that the money doesn't roll into an account, you have to physically go in to set up a new one.

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    Jackie, Victoria, reviewed over 1 year ago
  • Commonwealth Bank Term Deposit

    Quality of personal service declining.

    ATMs often out of order, branch staff try to guide me to use ATMs when trying to conduct personal banking and allow me to use teller staff when I insist!

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    William, Victoria, reviewed almost 3 years ago
  • Commonwealth Bank Term Deposit

    Reliable, safe and trustworthy.

    Largest and most reliable during the pandemic.

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    Roger, Queensland, reviewed over 3 years ago
  • Commonwealth Bank Term Deposit

    Reliable, but not competitive interest rates.

    Commonwealth Bank is reliable, and setup is straightforward for most accounts. However the interest rates are not that competitive.

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    Rose, New South Wales, reviewed over 3 years ago
  • Commonwealth Bank Term Deposit

    They get the tick of mediocre.

    I don't think you could be happy with a bank that offers close to 0% interest on saved deposits. But they certainly win when it comes to the customer service department.

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    Jonathan, Victoria, reviewed over 3 years ago
  • Commonwealth Bank Term Deposit

    Convenient, well-known and reliable

    Convenient bank for most locations and one of the most well-known and reliable banks.

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    Luke, Queensland, reviewed over 3 years ago
  • Commonwealth Bank Term Deposit

    Competitive rates and excellent customer service

    Put $5K in a term deposit and received a good rate of interest for my money, without having to put the usual $10K. Was pleased with service received from my local branch, near home.

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    Roseann, Victoria, reviewed almost 4 years ago
  • Commonwealth Bank Term Deposit

    Needs to do better.

    They hide interest rates from you, they're very difficult to find - not to mention incredibly low.

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    Benjamin, New South Wales, reviewed almost 4 years ago
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    Term deposit comparisons on Mozo - rates updated daily

    • Term Deposit

      interest rate
      5.10% p.a.
      1 year
      Minimum deposit
      $1,000
      Govt Deposit Guarantee
      Yes up to $250,000

      Promoted
    • Term Deposit

      interest rate
      4.75% p.a.
      1 year
      Minimum deposit
      $1,000
      Govt Deposit Guarantee
      Yes up to $250,000

      Promoted
    • Term Deposit

      interest rate
      4.85% p.a.
      3 months
      Minimum deposit
      $1,000
      Govt Deposit Guarantee
      Yes up to $250,000

      Promoted
    • Term Deposit

      interest rate
      4.75% p.a.
      6 months
      Minimum deposit
      $1,000
      Govt Deposit Guarantee
      Yes up to $250,000

      Promoted

    Different interest rates apply to different amounts or different interest payment frequencies.

    Want more? Compare all 81 term deposits in the Mozo comparison engine.

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