Why choose Commonwealth Bank

Benefits

  • Branch access
  • Australia’s biggest bank

Drawbacks

  • Lower term deposit rates

Commonwealth Bank Term Deposits

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Deposit term (in months)

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4.15%

for 18 months

$5,000

3.60%

for 5 months

1.45%

for 2 months

Term Deposit
  • 5 months
  • Joint application available
  • Maturity alert by email
  • Maturity alert by phone

4.88%

for 8 months

$5,000

4.80%

for 12 months

Term Deposit - Special Offer
  • 12 months
  • Joint application available
  • Maturity alert by email
  • Maturity alert by phone

Term Deposits calculator

Use our term deposit calculator to see how much you can earn under different investment scenarios.

$
months

Final balance at the end of term would be

at interest rate 1.20 %

About 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. 

Commonwealth Bank term deposits review

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.

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^Words such as "top", "best", "cheapest" or "lowest" are not a recommendation or rating of products. This page compares a range of products from selected providers and not all products or providers are included in the comparison. There is no such thing as a 'one- size-fits-all' financial product. The best loan, credit card, superannuation account or bank account for you might not be the best choice for someone else. Before selecting any financial product you should read the fine print carefully, including the product disclosure statement, target market determination fact sheet or terms and conditions document and obtain professional financial advice on whether a product is right for you and your finances.