Your selected term deposits
Commonwealth Bank of Australia (CommBank) is the country's largest bank, with a history dating back to 1911. As one of the "Big Four" banks in Australia, CommBank offers a comprehensive range of financial products and services to individuals, businesses, and institutions across the nation.
With a strong presence in both urban and rural areas, CommBank operates an extensive network of branches and ATMs throughout Australia. The bank has had an approach to banking technology that has meant customers get access to internet and mobile banking.
Special offer available: 4.75% p.a. for 9 months
Interest can be paid at different frequencies (e.g., annually, at maturity)
Flexible terms ranging from 1 month to 5 years
Guaranteed returns with a fixed interest rate
Potential prepayment interest adjustment and administration fee for early withdrawals
Minimum deposit of $5,000 required
CommBank's Term Deposit offers a secure and reliable option for Australians looking to maximise their savings with a fixed return. The product stands out with its competitive rates, particularly the special offer of 4.75% p.a. for a 9-month term. This rate could be an excellent opportunity for savers.
The flexibility in term lengths allows customers to choose a term period that aligns with their financial goals, whether short-term or long-term. Additionally, the tiered interest rate structure rewards higher deposits, encouraging customers to save more.
One of the strengths of this term deposit is the security it offers. Being backed by one of Australia's largest banks and covered by the government guarantee provides peace of mind for investors. However, it's important to note the 31-day notice period for early withdrawals, which may not suit those who need immediate access to their funds.
Overall, CommBank's Term Deposit is a solid choice for savers with a lump sum to invest and are comfortable locking away their money for a fixed period in exchange for guaranteed returns.
| INTEREST RATES P.A. | $5,000 to $1,999,999 |
|---|---|
| 1 year | 3.80% |
Rates are shown for interest paid at maturity for terms less than 1 year, and annually or at maturity for terms of 1 year or more.
| INTEREST RATES P.A. | $5,000 to $49,999 | $50,000 to $1,999,999 |
|---|---|---|
| 1 month | 1.15% | 1.20% |
| 2 months | 1.40% | 1.45% |
| 3 months | 2.80% | 2.85% |
| 4 months | 2.90% | 2.95% |
| 5 months | 2.95% | 3.00% |
| 6 months | 3.00% | 3.05% |
| 7 months | 3.05% | 3.10% |
| 8 months | 3.10% | 3.15% |
| 9 months | 3.15% | 3.20% |
| 10 months | 3.20% | 3.25% |
| 11 months | 3.25% | 3.30% |
| 1 year | 3.50% | 3.50% |
| 13 months | 3.45% | 3.50% |
| 18 months | 3.40% | 3.45% |
| 2 years | 3.35% | 3.40% |
| 3 years | 3.35% | 3.40% |
| 4 years | 3.35% | 3.40% |
| 5 years | 3.35% | 3.40% |
Rates are shown for interest paid at maturity for terms less than 1 year, and annually or at maturity for terms of 1 year or more.
Your selected term deposits
Like the bank but too many branches closing making it harder for senior people
I found products , services , very good the down side is there other places with slity higher interest rates other than that there excellent
Very easy to have your accounts all in the one place and to use the online system.
Commonwealth bank is easy to deal with and great products They always answer my questions when asked.
Commonwealth Bank was very friendly communicated well and gave good advice. As a young woman doing a term deposit for the first time to make a little cash he was able to give me a 4.93 interest rate and was all done in 10 minutes. He gave me the confidence and trust to put my money in a term deposit and was helpful with advice on how much money I should put in. Very easy and efficient as there is lots physical (branch and ATM) around me and even remote using the Commonwealth app.
They need to raise the interest rate in their term deposit and savings accounts so that people who have more money would find it a better and safer opportunity with better interest rates
they have an office and have helped me during the grieving progress passing of my husband this 12months with our banking
I love this bank because of how l am treated
All banks are the same. Its a buisness I dont expect them to be overly generous or even professional
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.
You can open a CommBank Term Deposit online through NetBank if you're an existing customer, or by visiting a CommBank branch. You'll need to be 18 years or over, have an Australian residential address, and have a minimum deposit of $5,000.
When your term deposit matures, you have several options:
If you don't provide instructions, your funds will automatically be placed in the Holding Facility, which earns a variable interest rate.
Yes, but you'll need to give 31 days' notice. Early withdrawals may incur a prepayment interest adjustment and an administration fee. It's best to plan your investment term carefully to avoid these potential costs.
Yes, CommBank Term Deposits are considered very safe. As an Authorised Deposit-taking Institution (ADI), CommBank is regulated by the Australian Prudential Regulation Authority (APRA). Additionally, deposits up to $250,000 per account holder are protected under the Australian Government's Financial Claims Scheme.
Yes, CommBank offers Term Deposits for businesses and Self-Managed Super Funds (SMSFs). However, the rates and terms may differ from personal term deposits. For business term deposits or amounts over $1,999,999, you'll need to contact a CommBank branch or your relationship manager.
* 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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