Commonwealth Bank term deposit reviews

Commonwealth Bank
Commonwealth Bank's overall rating for term deposits

(as rated by the Mozo community)

6.8 / 10

based on 250 reviews

Price

Features

Customer service

Convenience

Trust

Full review

Featured term deposit from Commonwealth Bank

Recent Commonwealth Bank term deposit reviews

Commonwealth Bank

Commonwealth Bank term deposit review

Overall rating   9 / 10

Good customer service

Good interest

Full review

Good interest

    Price   8 / 10

    Features   8 / 10

    Customer service   8 / 10

    Convenience   8 / 10

    Trust   9 / 10

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Eileen (NSW), reviewed 8 months ago

Commonwealth Bank

Commonwealth Bank term deposit review

Overall rating   8 / 10

Helpful and good service at a branch level.

Generally happy with service and products. Need to negotiate for better rates rather than being offered. Are not particularly flexible on product range. Customer loyalty can be taken for granted. Branch service is good and helpful.

Full review

Generally happy with service and products. Need to negotiate for better rates rather than being offered. Are not particularly flexible on product range. Customer loyalty can be taken for granted. Branch service is good and helpful.

    Price   6 / 10

    Features   6 / 10

    Customer service   7 / 10

    Convenience   7 / 10

    Trust   8 / 10

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David (NSW), reviewed 8 months ago

Commonwealth Bank

Commonwealth Bank term deposit review

Overall rating   8 / 10

Friendly staff

I always get good customer service and the staff are always friendly even though some of my requirements are time consuming.

Full review

I always get good customer service and the staff are always friendly even though some of my requirements are time consuming.

    Price   3 / 10

    Features   3 / 10

    Customer service   7 / 10

    Convenience   7 / 10

    Trust   8 / 10

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Peter (QLD), reviewed 8 months ago

Commonwealth Bank

Commonwealth Bank term deposit review

Overall rating   4 / 10

CBA exploit their loyal customers!

Rates paid on term deposits keep going lower despite CBA continually making record profits. Had to threaten to withdraw money to get better rate than originally offered and still below rate paid on previous term deposit.

Full review

Rates paid on term deposits keep going lower despite CBA continually making record profits. Had to threaten to withdraw money to get better rate than originally offered and still below rate paid on previous term deposit.

    Price   3 / 10

    Features   5 / 10

    Customer service   5 / 10

    Convenience   5 / 10

    Trust   4 / 10

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Ayesha (NSW), reviewed 8 months ago

Commonwealth Bank

Commonwealth Bank term deposit review

Overall rating   6 / 10

Don't recommend

I love the idea of a term deposit but it's inconvenient that you can't contribute money to the account once you have started the term deposit and that you have to have 5000 saved before you can open it

Full review

I love the idea of a term deposit but it's inconvenient that you can't contribute money to the account once you have started the term deposit and that you have to have 5000 saved before you can open it

    Price   5 / 10

    Features   5 / 10

    Customer service   10 / 10

    Convenience   3 / 10

    Trust   10 / 10

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Haily (WA), reviewed 8 months ago

Commonwealth Bank

Commonwealth Bank term deposit review

Overall rating   8 / 10

Term rates terrible

Rates terrible, staff friendly

Full review

Rates terrible, staff friendly

    Price   3 / 10

    Features   2 / 10

    Customer service   6 / 10

    Convenience   6 / 10

    Trust   8 / 10

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Fran (QLD), reviewed 9 months ago

Commonwealth Bank

Commonwealth Bank term deposit review

Overall rating   2 / 10

Could be better

I have been a customer of this bank for many years. Now that my husband and I are retired it doesn't offer good investment opportunities for retirees.

Full review

I have been a customer of this bank for many years. Now that my husband and I are retired it doesn't offer good investment opportunities for retirees.

    Price   2 / 10

    Features   2 / 10

    Customer service   4 / 10

    Convenience   2 / 10

    Trust   3 / 10

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Lilly (NSW), reviewed 9 months ago

Commonwealth Bank

Commonwealth Bank term deposit review

Overall rating   10 / 10

Great interest rates and exemplary customer care.

I find the commonwealth bank's service fast and efficient and the customer reps are always very helpful and courteous. They always remind me when I need to pay a bill and they give me an extension if I need one.

Full review

I find the commonwealth bank's service fast and efficient and the customer reps are always very helpful and courteous. They always remind me when I need to pay a bill and they give me an extension if I need one.

    Price   9 / 10

    Features   5 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   7 / 10

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Leanne (VIC), reviewed 9 months ago

Commonwealth Bank

Commonwealth Bank term deposit review

Overall rating   7 / 10

Convenient!

I like this bank because theres lots of branches available. You also can easily open another account online. Very good customer service too.

Full review

I like this bank because theres lots of branches available. You also can easily open another account online. Very good customer service too.

    Price   6 / 10

    Features   6 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

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Veronica (VIC), reviewed 9 months ago

Commonwealth Bank

Commonwealth Bank term deposit review

Overall rating   10 / 10

Customer service is the key.

I have been a customer for over 60 years, and would have given them away if ever I was dissatisfied with their service. Over the counter and online service are as good as they need be.

Full review

I have been a customer for over 60 years, and would have given them away if ever I was dissatisfied with their service. Over the counter and online service are as good as they need be.

    Price   5 / 10

    Features   3 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

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Frank (NSW), reviewed 12 months ago

Commonwealth Bank

Commonwealth Bank term deposit review

Overall rating   1 / 10

Could improve

Low interest

Full review

Low interest

    Price   2 / 10

    Features   1 / 10

    Customer service   1 / 10

    Convenience   1 / 10

    Trust   1 / 10

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Halina (QLD), reviewed 12 months ago

Commonwealth Bank

Commonwealth Bank term deposit review

Overall rating   6 / 10

Good vs poor

Good product renewal process is poorly managed

Full review

Good product renewal process is poorly managed

    Price   9 / 10

    Features   4 / 10

    Customer service   1 / 10

    Convenience   10 / 10

    Trust   8 / 10

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Neil (VIC), reviewed 12 months ago

Commonwealth Bank

Commonwealth Bank term deposit review

Overall rating   7 / 10

Excellent customer service

Overall I am satisfied with my dealings with the CBA but there is only one ATM in Goolwa where I reside, apart from the local post office the nearest CBA is in Victor Harbour.

Full review

Overall I am satisfied with my dealings with the CBA but there is only one ATM in Goolwa where I reside, apart from the local post office the nearest CBA is in Victor Harbour.

    Price   7 / 10

    Features   7 / 10

    Customer service   9 / 10

    Convenience   3 / 10

    Trust   9 / 10

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Agnes (SA), reviewed about 1 year ago

Commonwealth Bank

Commonwealth Bank term deposit review

Overall rating   9 / 10

Easy to use, good rate, friendly service

Easy internet access, quick turn around if needed. As competitive as possible in this financial climate and someone I trust with my money.

Full review

Easy internet access, quick turn around if needed. As competitive as possible in this financial climate and someone I trust with my money.

    Price   8 / 10

    Features   9 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   9 / 10

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Margaret (NSW), reviewed about 1 year ago

Commonwealth Bank

Commonwealth Bank term deposit review

Overall rating   1 / 10

Poor return for long term

Rate not changed

Full review

Rate not changed

    Price   2 / 10

    Features   2 / 10

    Customer service   0 / 10

    Convenience   3 / 10

    Trust   0 / 10

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Kerrie (QLD), reviewed about 1 year ago

Commonwealth Bank

Commonwealth Bank term deposit review

Overall rating   10 / 10

Best offer I've had

I've had term deposits several times over the years and this bank's interest rate equally or bettered the opposition nearly every time. I've been with them since 1950!

Full review

I've had term deposits several times over the years and this bank's interest rate equally or bettered the opposition nearly every time. I've been with them since 1950!

    Price   9 / 10

    Features   9 / 10

    Customer service   9 / 10

    Convenience   10 / 10

    Trust   10 / 10

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Neville (VIC), reviewed about 1 year ago

Commonwealth Bank

Commonwealth Bank term deposit review

Overall rating   6 / 10

Interest paid on time every month

Interest paid on time and local branch reminds us when the renewal is and gets the best rate at the time.

Full review

Interest paid on time and local branch reminds us when the renewal is and gets the best rate at the time.

    Price   5 / 10

    Features   5 / 10

    Customer service   10 / 10

    Convenience   8 / 10

    Trust   8 / 10

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Sarah (QLD), reviewed about 1 year ago

Commonwealth Bank

Commonwealth Bank term deposit review

Overall rating   9 / 10

Excellent Customer Service/Advice for best Options

Customer Service was excellent. Advice on shifting to a different A/C to get more interest was done in a matter of a few minutes, whilst I was at the Bank for another purpose! I was impressed. Fast moving queues also meant that I did not have to...

Full review

Customer Service was excellent. Advice on shifting to a different A/C to get more interest was done in a matter of a few minutes, whilst I was at the Bank for another purpose! I was impressed. Fast moving queues also meant that I did not have to wait long at all. Very happy.

    Price   9 / 10

    Features   10 / 10

    Customer service   9 / 10

    Convenience   10 / 10

    Trust   10 / 10

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Mel (VIC), reviewed about 1 year ago

Commonwealth Bank

Commonwealth Bank term deposit review

Overall rating   10 / 10

They should have more term deposit specials

Cons=comparative rates on term deposits do not apply.

Full review

Cons=comparative rates on term deposits do not apply.

    Price   3 / 10

    Features   2 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

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Carol (NSW), reviewed about 1 year ago

Commonwealth Bank

Commonwealth Bank term deposit review

Overall rating   9 / 10

Reputable bank with nation wide branches and ATMs.

Reputable. Friendly staff. All enquiries treated with respect.

Full review

Reputable. Friendly staff. All enquiries treated with respect.

    Price   9 / 10

    Features   7 / 10

    Customer service   9 / 10

    Convenience   9 / 10

    Trust   9 / 10

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Noelene (VIC), reviewed about 1 year ago

Commonwealth Bank

Commonwealth Bank term deposit review

Overall rating   10 / 10

Good rates, trustworthy, always great service

I have a few accounts with this bank and all is easily managed online, as well as friendly service when I go into the branch.

Full review

I have a few accounts with this bank and all is easily managed online, as well as friendly service when I go into the branch.

    Price   9 / 10

    Features   9 / 10

    Customer service   10 / 10

    Convenience   9 / 10

    Trust   9 / 10

Less

Dana (VIC), reviewed about 1 year ago

Commonwealth Bank

Commonwealth Bank term deposit review

Overall rating   4 / 10

Out of touch with customers' wants.

Unlike some of its competitors, the Commonwealth Bank puts your term deposit into a low interest (up to 2%) "waiting pool" rather than automatically renewing the deposit. Interest rates lower than competitors. No "loyalty bonus" for depositor,...

Full review

Unlike some of its competitors, the Commonwealth Bank puts your term deposit into a low interest (up to 2%) "waiting pool" rather than automatically renewing the deposit. Interest rates lower than competitors. No "loyalty bonus" for depositor, unlike other banks. Term Deposits cannot be renewed on line by the client (I was told this was "too difficult") so you have to either call their service centre, working your way through the phone tree, or line up at a branch. Unsatisfactory level of service.

    Price   2 / 10

    Features   4 / 10

    Customer service   4 / 10

    Convenience   5 / 10

    Trust   6 / 10

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Edwina (NSW), reviewed about 1 year ago

Commonwealth Bank

Commonwealth Bank term deposit review

Overall rating   7 / 10

Good

Happy with how I am going.

Full review

Happy with how I am going.

    Price   7 / 10

    Features   5 / 10

    Customer service   6 / 10

    Convenience   6 / 10

    Trust   6 / 10

Less

Nichole (NSW), reviewed about 1 year ago

Commonwealth Bank

Commonwealth Bank term deposit review

Overall rating   7 / 10

Good Australia wide bank

At present it doesn't matter who you have a term deposit with, the rates are terrible.

Full review

At present it doesn't matter who you have a term deposit with, the rates are terrible.

    Price   5 / 10

    Features   6 / 10

    Customer service   6 / 10

    Convenience   7 / 10

    Trust   8 / 10

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Jan (QLD), reviewed about 1 year ago

Commonwealth Bank

Commonwealth Bank term deposit review

Overall rating   2 / 10

Not good enough

They often advertise an interest rate and then they change it without notifying you.

Full review

They often advertise an interest rate and then they change it without notifying you.

    Price   4 / 10

    Features   3 / 10

    Customer service   2 / 10

    Convenience   4 / 10

    Trust   2 / 10

Less

John (QLD), reviewed about 1 year ago

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Term deposit comparisons on Mozo Rates updated daily

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    ING DIRECT Term Deposit

    • No ING DIRECT fees
    • Deposit from $10K to $5 million
    • Loyalty Bonus Rate on rollover

    interest rate*

    3.00% p.a.
    1 year

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    • No ING DIRECT fees
    • Deposit from $10K to $5 million
    • Loyalty Bonus Rate on rollover
    • Minimum deposit: $10,000
    • Maximum deposit: $5,000,000
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  • Citibank Term Deposit

    Citibank Term Deposit

    • Minimum investment $75,000, 31 day notice period applies
    • No establishment or account keeping fees
    • Feel secure in your investment, with guaranteed returns at maturity.

    interest rate*

    2.95% p.a.
    6 months

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    • Minimum investment $75,000, 31 day notice period applies
    • No establishment or account keeping fees
    • Feel secure in your investment, with guaranteed returns at maturity.
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    • Maximum deposit: $2,000,000
    • Can interest be paid to another bank?: no
    • Automatic rollover: yes
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    Based on 3 Citibank term deposit reviews

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  • Bank Australia Term Deposit

    Bank Australia Term Deposit

    • High interest rate
    • Short investment term of 3 months for investments over $5K
    • Interest paid at maturity

    interest rate*

    2.85% p.a.
    2 years

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    More info

    • High interest rate
    • Short investment term of 3 months for investments over $5K
    • Interest paid at maturity
    • Minimum deposit: $5,000
    • Maximum deposit: $500,000
    • Can interest be paid to another bank?: no
    • Automatic rollover: yes
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  • Bankwest Online Term Deposit

    Bankwest Online Term Deposit

    • No fees
    • Invest anything from $1,000 to $5 million
    • 100% secure online application process

    interest rate*

    2.70% p.a.
    6 months

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    More info

    • No fees
    • Invest anything from $1,000 to $5 million
    • 100% secure online application process
    • Minimum deposit: $1,000
    • Maximum deposit: $5,000,000
    • Can interest be paid to another bank?: yes
    • Automatic rollover: yes
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