CommBank now has a 4.00% p.a. short term deposit

By Maria Gil · · 1 min read
Fact Checked
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woman sitting on a pile of coins looking at term deposits

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.

CBAWestpacANZNAB
18-moth term deposit4.00% 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

Mozo may receive payment if you click products on our site. We don’t compare the entire market, but you can search our database of 91 term deposits.
Last updated 14 December 2024 Important disclosures
  • 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.

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  • Term Deposit

    3.80% p.a.
    1 year

    $5,000

    Yes up to $250,000

    Grow your hard-earned savings with a P&N Bank Money Maker Term Deposit. Enjoy competitive, guaranteed fixed term rates. Interest paid at maturity for terms between 2 and 12 months. Interest rates may vary depending on the terms you select. Minimum amount of $5,000. Maximum amount of $1 million.

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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.

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    Details
  • Term Deposit

    4.50% p.a.
    1 year

    $5,000

    Yes up to $250,000

    Compare
    Find out more
    Details

* 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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While we pride ourselves on covering a wide range of products, we don't cover every product in the market. If you decide to apply for a product through our website, you will be dealing directly with the provider of that product and not with Mozo.

Today's term deposit rates