CommBank now has a 4.00% p.a. short term deposit
Commonweatlh Bank now offers a special 18-month term deposit with a 4.00% p.a. interest rate.
This comes after the most recent Reserve Bank Australia cash rate hike in early November, after which CommBank increased rates on several of its shorter term deposits. Notably, its 18-month term deposit sits at 4.00% p.a., matching ANZ’s as the highest interest rate among the big four.
Below are the highest available interest rates among CBA, Westpac, ANZ and NAB for 18-month term deposits.
| CBA | Westpac | ANZ | NAB | |
| 18-moth term deposit | 4.00% p.a. | 3.75% p.a. | 4.00% p.a. | 3.50% p.a. |
Since the RBA began increasing the official cash rate in May, we’ve seen several banks move to offer higher term deposit interest rates. But it wasn’t until recently that the big four began offering more competitive rates compared to smaller financial institutions.
If you want to stay up-to-date with the latest term deposit news, check out Mozo’s term deposit news and advice page. Alternatively, if you want to compare how the big four compete with other banks, use the term deposit comparison table below.
Term deposit comparisons on Mozo - last updated 28 November 2023
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Online Term Deposit
4.90% p.a.
1 year$1,000
Yes up to $250,000
Enjoy the certainty of a fixed interest rate combined with the convenience of online banking to set up and manage your term deposit at maturity. You can start investing from as little as $1,000 or up to $5,000,000.
CompareCompareOnline Term Deposit
Enjoy the certainty of a fixed interest rate combined with the convenience of online banking to set up and manage your term deposit at maturity. You can start investing from as little as $1,000 or up to $5,000,000.
- interest rate
- -
- Minimum deposit
- $1,000.00
- Govt Deposit Guarantee
- Yes up to $250,000
- Minimum deposit
- $1,000.00
- Maximum deposit
- $5,000,000.00
- Can interest be paid to another bank?
- yes
- Automatic rollover
- yes
Read our Mozo Review to learn more about the Bankwest Online Term Deposit
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Term Deposit
5.10% p.a.
1 year$1,000
Yes up to $250,000
Enjoy a competitive fixed interest with the choice of 1 month to 5 year terms. Start with as little as $1,000. Interest paid monthly, quarterly, half yearly or yearly. Receive a 0.10% loyalty bonus when you automatically reinvest your Term Deposit before maturity. (Terms and Conditions apply)
CompareCompareTerm Deposit
Enjoy a competitive fixed interest with the choice of 1 month to 5 year terms. Start with as little as $1,000. Interest paid monthly, quarterly, half yearly or yearly. Receive a 0.10% loyalty bonus when you automatically reinvest your Term Deposit before maturity. (Terms and Conditions apply)
- interest rate
- -
- Minimum deposit
- $1,000.00
- Govt Deposit Guarantee
- Yes up to $250,000
- Minimum deposit
- $1,000.00
- Maximum deposit
- $2,000,000.00
- Can interest be paid to another bank?
- no
- Automatic rollover
- yes
Read our Mozo Review to learn more about the Rabobank Term Deposit
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Standard Term Deposit
4.80% p.a.
1 year$25,000
Yes up to $250,000
Competitive interest rates. No set up fees to pay. Interest can be paid into another bank account. Insured by the Australian Government Financial Claims Scheme – up to a total of $250,000 per member.
CompareCompareStandard Term Deposit
Competitive interest rates. No set up fees to pay. Interest can be paid into another bank account. Insured by the Australian Government Financial Claims Scheme – up to a total of $250,000 per member.
- interest rate
- -
- Minimum deposit
- $1,000.00
- Govt Deposit Guarantee
- Yes up to $250,000
- Minimum deposit
- $1,000.00
- Maximum deposit
- -
- Can interest be paid to another bank?
- yes
- Automatic rollover
- yes
Read our Mozo Review to learn more about the First Option Bank Standard Term Deposit
-
Term Deposit
3.95% p.a.
1 year$5,000
Yes up to $250,000
CompareCompareTerm Deposit
- interest rate
- -
- Minimum deposit
- $5,000.00
- Govt Deposit Guarantee
- Yes up to $250,000
- Minimum deposit
- $5,000.00
- Maximum deposit
- $1,000,000.00
- Can interest be paid to another bank?
- no
- Automatic rollover
- yes
Read our Mozo Review to learn more about the Police Credit Union Term Deposit
-
Term Deposit
4.25% p.a.
1 year$5,000
Yes up to $250,000
CompareCompareTerm Deposit
- interest rate
- -
- Minimum deposit
- $5,000.00
- Govt Deposit Guarantee
- Yes up to $250,000
- Minimum deposit
- $5,000.00
- Maximum deposit
- $1,999,999.00
- Can interest be paid to another bank?
- yes
- Automatic rollover
- yes
Read our Mozo Review to learn more about the Commonwealth Bank Term Deposit
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Term Deposit
4.25% p.a.
1 year$5,000
Yes up to $250,000
No set up, monthly service or management fees & choose to invest from $5,000 or more
CompareCompareTerm Deposit
No set up, monthly service or management fees & choose to invest from $5,000 or more
- interest rate
- -
- Minimum deposit
- $5,000.00
- Govt Deposit Guarantee
- Yes up to $250,000
- Minimum deposit
- $5,000.00
- Maximum deposit
- $2,000,000.00
- Can interest be paid to another bank?
- yes
- Automatic rollover
- yes
Read our Mozo Review to learn more about the Westpac Term Deposit
* Different interest rates apply to different amounts or different interest payment frequencies.
^See information about the Mozo Experts Choice Term Deposit Awards
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