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Banking / Term Deposits


TERM DEPOSITS 

Feel confident knowing exactly how much your money will earn. Lock-in a
competitive interest rate from as short as 1 month to as long as 5 years.

 * Features & benefits
 * Rates & fees
 * How to apply
 * Keep track
 * At maturity
 * Tools & support

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NEW CUSTOMER OR DON'T BANK ONLINE WITH US?



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SPECIAL OFFERS


 * 4.90% P.A. FOR 11 MONTHS
   
   Offer available from 10 May 2024 for a limited time only. Conditions apply.*

Features & benefits


FEATURES & BENEFITS


 * FIXED RETURN ON YOUR INVESTMENT
   
   With our Term Deposit, if you don’t need immediate access to these funds you
   have the security of locking in a fixed rate of return, giving you greater
   peace of mind.


 * CHOOSE FROM A RANGE OF TERMS
   
   You can choose from a range of terms to suit your needs. Anything from 1
   month to 5 years. 


 * SAFE AND SECURE
   
   Combined balances of up to $250,000 per account holder are guaranteed and
   secured by the Australian Government.


 * KEEP TRACK OF YOUR INVESTMENT
   
   View, track and manage your Term Deposit alongside your other accounts in
   NetBank, CommBiz and the CommBank app.


 * HELP WHEN YOU NEED IT
   
   We’re Australia’s largest bank, with an extensive branch network across the
   country, and all phone-based specialists in Australia. We’re here to help you
   with your investment and your future plans.


 * FLEXIBLE
   
   Once your Term Deposit matures, if you forget to let us know what to do with
   your investment or you haven’t decided yet, we’ll keep your funds secure in
   our holding facility for up to six months.

Rates & fees


RATES & FEES

Some of our most popular rates

Term
Interest rate for $5,000 to $49,999

Interest rate for $50,000 to $1,999,999

Interest paid
Term
3 months 

Interest rate for $5,000 to $49,999

3.45% p.a.

Interest rate for $50,000 to $1,999,999

3.50% p.a.

Interest paid
At the end of the term
Term
6 months 

Interest rate for $5,000 to $49,999

3.70% p.a.

Interest rate for $50,000 to $1,999,999

3.75% p.a.

Interest paid
At the end of the term
Term
12 months

Interest rate for $5,000 to $49,999

4.55% p.a.

Interest rate for $50,000 to $1,999,999

4.60% p.a.

Interest paid
Annually
Term
24 - 33 months

Interest rate for $5,000 to $49,999

3.95% p.a.

Interest rate for $50,000 to $1,999,999

4.00% p.a.

Interest paid
Annually
Term
60 months

Interest rate for $5,000 to $49,999

3.95% p.a.

Interest rate for $50,000 to $1,999,999

4.00% p.a.

Interest paid
Annually

The above Term Deposit rates are available online and in branch for customers
with a maximum limit of $1,999,999 per customer. For amounts greater than
$1,999,999 or to open Business Term Deposits, please contact any CommBank branch
or your relationship manager.

See more Term Deposit rates


If you don't provide instructions, funds will automatically be placed in the
Term Deposit holding facility as a default. Holding facility earns a fixed
interest rate, which may be lower than the rate offered for a fixed term. 

Latest rates as of 10 May 2024. Interest rates on offer may vary at any time
without notice.


FEES & CHARGES

There are no set up or establishment fees.

If you want to withdraw your Term Deposit before it matures you’ll need to give
us 31 days' notice. You may incur a prepayment interest adjustment and
administration fee.

How to apply


HOW TO APPLY ONLINE

 * You can open a Term Deposit online under a personal or Self-Managed Super
   Fund (SMSF) name. To do so, you need to be 18 years or over and have: 
   
    * A minimum deposit of $5,000 (call or visit your nearest branch for
      investments $2,000,000 and over)
    * An Australian residential address
    * An existing NetBank ID and CommBank account in your name. You’ll use this
      account to transfer money across to open your Term Deposit
    * Your Tax File Number (TFN) or TFN exemption handy. You don’t have to
      provide your TFN or exemption to your Term Deposit but, by law, we have to
      withhold tax if you choose not to
    * If you're an SMSF customer, you’ll need your ABN. To get an exemption from
      withholding tax, you’ll need to provide your TFN or TFN exemption
      separately by contacting us

 * For joint accounts:
   
   
    * To open a joint account, please visit your nearest branch together
   
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 * If you're a new customer or you'd like to invest more, contact us or visit a
   branch

Keep track


EASY TO KEEP TRACK


MANAGE ONLINE AND ON THE GO

See, track and manage your Term Deposit alongside your other accounts in
NetBank, CommBiz and the CommBank app.

Provide maturity instructions


KNOW WHAT YOU’RE EARNING

The fixed rate of return means you’ll always know what your investment’s worth
and can plan how to use the interest earned.



OPT-IN FOR FREE MATURITY ALERTS AND E-NOTICES

Opt in for alerts and we’ll send you an email or SMS a week before your Term
Deposit matures – so you never miss your maturity date. 

Opt in for e-notices and replace the clutter of paper notices. Look back at old
notices in NetBank and we’ll email you when a new one is available.


At maturity


OPTIONS AT MATURITY



 * RENEWAL
   
   Proactively renew your Term Deposit for another term to immediately lock in a
   new interest rate. You can also top it up with additional funds or withdraw a
   portion of your Term Deposit. 


 * FULL WITHDRAWAL
   
   Withdraw all of your investment including the interest you’ve earned.


 * PLACE IN HOLDING FACILITY
   
   Place your money in our Holding Facility while you decide what to do.
   
   If you don’t provide instructions to us, your money will be placed in our
   Holding Facility until you let us know what you want to do.
   
   Your money will continue to earn a variable interest rate that’s paid weekly.


 * LET US KNOW YOUR MATURITY INSTRUCTIONS
   
   You don’t need to visit us at a branch or call us to let us know what you’d
   like to do when your Term Deposit matures. Simply let us know your maturity
   instructions through NetBank.
   
   Watch how to manage your Term Deposit maturity in NetBank (opens in YouTube).
   
   Discover more

Tools & support


TOOLS & SUPPORT


 * TOOLS & CALCULATORS
   
   
    * Term Deposit rates
    * Compare our savings accounts
    * Savings calculator


 * GUIDANCE
   
    * Term Deposits and interest rates: what does it mean?
    * Term Deposit maturing? 5 things to know
    * Term Deposits and your business


 * FAQS
   
    * How do I adjust my Term Deposit?
      
    * What happens when my Term Deposit matures?
    * How do I know when my Term Deposit is due to mature?
   
   See all Term Deposit FAQs


NOT SURE IF THIS IS THE RIGHT ACCOUNT FOR YOU?

See all savings accounts




WE'RE HERE TO HELP


 * CONTACT US
   
   Message us in the CommBank app or call to connect to the right help.


 * MESSAGE US
   
   Get instant help from our virtual assistant or connect to a specialist.


 * FAQS
   
   Search support and our most frequently asked questions.


 * FIND A BRANCH
   
   Find a branch, ATM or specialist near you.


THINGS YOU SHOULD KNOW

 * * Available on balances from $5,000 to $1,999,999 with interest paid
   annually.
   
   Special Offers are available on Term Deposits opened or renewed by personal
   or Self-Managed Super Fund (SMSF) customers only. The offer is not available
   to all other Business customers (including Financial Institutions). Personal
   and SMSF customers can access this special offer online via NetBank and the
   CommBank App, or visit their nearest branch. Renewing Personal and SMSF Term
   Deposit customers can also call 13 2221.
   
   The target market for this product will be found within the product’s Target
   Market Determination, available here.
   
   This information has been prepared without considering your objectives,
   financial situation or needs.  You should, before acting on this, consider
   the appropriateness of the product to your circumstances.
   
   General Information and Terms and Conditions for Term Deposits and Electronic
   Banking are available here or from any branch of the Commonwealth Bank.
   Please view our Financial Services Guide (PDF68KB).
   
   
   Interest rates on offer may vary at any time without notice.



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CommBank acknowledges the Traditional Owners of the lands across Australia as
the continuing custodians of Country and Culture. We pay our respect to First
Nations peoples and their Elders, past and present.

 



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