Commonwealth Bank term deposits

CBA offers term deposits from 1 month to 5 years. Interest is paid monthly, quarterly, biannually, annually or at maturity. 

Its term deposit rates range from low to moderate, with different rate tiers for deposits under $5,000, $5,000 - $49,999 and $50,000 - $1,999,999. 

CBA does not charge any monthly service fees. However, early termination or break fees may apply. 

As Commonwealth Bank is the biggest bank in Australia, it may not always need to offer the highest term deposit rates on the market compared to smaller providers with lower overheads. 

CBA also offers a range of other financial products, including home loans, credit cards and savings accounts. If you’re the type of customer who likes all their financial products to be with the same bank, CBA may be helpful in that regard.  

Customers who rely on face-to-face contact with their bank may also benefit from choosing a CBA term deposit. As it is Australia’s biggest bank, this means customers have access to over 1,000 branches, including in rural areas.