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
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Term Deposit
5.00% p.a.
1 year$1,000
Yes up to $250,000
Great rates and incentives incl. 0.10% added loyalty bonus at renewal. Option to have interest paid to another bank. Winner of the Mozo Experts Choice Awards 2024^ for Term Deposits.
CompareCompareTerm Deposit
Great rates and incentives incl. 0.10% added loyalty bonus at renewal. Option to have interest paid to another bank. Winner of the Mozo Experts Choice Awards 2024^ for Term Deposits.
- interest rate
- 5.00% p.a.
- 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?
- yes
- Automatic rollover
- yes
Read our Mozo Review to learn more about the Judo Bank Term Deposit
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SMSF Term Deposit
5.00% p.a.
1 year$1,000
Yes up to $250,000
Apply digitally in minutes and manage your SMSF Term Deposit. Flexible cash flow management with three interest payment frequencies that suit you: monthly, yearly, or at maturity. Choose from terms of 3 months up to 5 years. No application or monthly account fees but eligibility criteria and terms and conditions apply. Only accessible to SMSFs with two or up to four individual trustees or one corporate trustee.
CompareCompareSMSF Term Deposit
Apply digitally in minutes and manage your SMSF Term Deposit. Flexible cash flow management with three interest payment frequencies that suit you: monthly, yearly, or at maturity. Choose from terms of 3 months up to 5 years. No application or monthly account fees but eligibility criteria and terms and conditions apply. Only accessible to SMSFs with two or up to four individual trustees or one corporate trustee.
- interest rate
- 5.00% p.a.
- 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?
- yes
- Automatic rollover
- yes
-
Term Deposit
4.90% p.a.
1 year$25,000
Yes up to $250,000
Enjoy flexible terms starting from 31 days up to 5 years with a Heartland Bank Term Deposit. Get your interest paid monthly (on selected terms). Your savings are protected by the Government guarantee. Minimum deposit amount of $25,000 up to $1,000,000.
CompareCompareTerm Deposit
Enjoy flexible terms starting from 31 days up to 5 years with a Heartland Bank Term Deposit. Get your interest paid monthly (on selected terms). Your savings are protected by the Government guarantee. Minimum deposit amount of $25,000 up to $1,000,000.
- interest rate
- 4.90% p.a.
- Minimum deposit
- $25,000.00
- Govt Deposit Guarantee
- Yes up to $250,000
- Minimum deposit
- $25,000.00
- Maximum deposit
- $1,000,000.00
- Can interest be paid to another bank?
- yes
- Automatic rollover
- yes
Read our Mozo Review to learn more about the Heartland Bank Term Deposit
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Term Deposit
4.55% p.a.
1 year$1,000
Yes up to $250,000
Invest as little as $1,000 on terms from 21 days to 5 years. Open an online account in just 5 minutes. No annual or monthly account keeping fees. Flexible term options to choose from. Interest paid periodically or at maturity. Access to view your account 24/7.
CompareCompareTerm Deposit
Invest as little as $1,000 on terms from 21 days to 5 years. Open an online account in just 5 minutes. No annual or monthly account keeping fees. Flexible term options to choose from. Interest paid periodically or at maturity. Access to view your account 24/7.
- interest rate
- 4.55% p.a.
- 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 Newcastle Permanent Term Deposit
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Term Deposit
4.95% p.a.
1 year$10,000
Yes up to $250,000
Minimum $10,000 deposit. No account keeping fees. Terms from 3 months up to 2 years. Interest can be paid into a different bank. Balances up to $250,000 are guaranteed by the Australian Government. Mozo Experts Choice Awards Everyday & Savings Bank of the Year winner for 2024.^
CompareCompareTerm Deposit
Minimum $10,000 deposit. No account keeping fees. Terms from 3 months up to 2 years. Interest can be paid into a different bank. Balances up to $250,000 are guaranteed by the Australian Government. Mozo Experts Choice Awards Everyday & Savings Bank of the Year winner for 2024.^
- interest rate
- 4.95% p.a.
- Minimum deposit
- $10,000.00
- Govt Deposit Guarantee
- Yes up to $250,000
- Minimum deposit
- $10,000.00
- 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 ING Term Deposit
Your selected term deposits
Your selected term deposits
Your selected term deposits
Your selected term deposits
Your selected term deposits
* 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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