Special offer

1.30% p.a. for 8 months

Offer available from 25 March 2020 for a limited time only on balances from $5,000 to $1,999,999 with interest paid at maturity.

1.70% p.a. for 12 months

Offer available for personal customers from 20 March 2020 for a limited time only on balances from $5,000 to $1,999,999 with interest paid at maturity. The offer is available in branch or renewing Term Deposit customers can also call 13 2221.*

Features & benefits

Range of terms

Choose from a range of terms to fix your interest rate and avoid market fluctuations - anything from 1 month up to 5 years.

Invest $5,000 or more

Invest from $5,000 to $1,999,999 online (more if you go into a branch).

Options at maturity

Choose to reinvest, top up or withdraw all or some of your funds, as soon as your Term Deposit matures. You can even temporarily place your money into the holding facility if you need extra time.

Rates & fees

Some of our most popular rates

Interest rate for $5,000 to $49,999
Interest rate for $50,000 to $1,999,999
Interest paid
3 months 
0.95% p.a.
1.05% p.a.
At the end of the term
6 months 
0.95% p.a.
1.05% p.a.
At the end of the term
12 months
1.00% p.a.
1.10% p.a.
At the end of the term
24 - 33 months
1.00% p.a.
1.10% p.a.
60 months
1.00% p.a.
1.10% p.a.

The above Term Deposit rates are available online and in branch for personal customers with a maximum limit of $1,999,999 per customer. For amounts greater than $1,999,999 or for 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 25 March 2020. 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 online

You can open a Term Deposit online under a personal, joint, 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 (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 are opening a joint account, each account holder must provide their TFN individually
  • 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 calling us on 13 2221 or at your nearest branch

For joint accounts:

  • You can open this account with another person if you already have a joint account together with us
  • To open up a joint account for the first time or with someone new please visit your nearest branch together

Open online

If you're a new customer or you'd like to invest more, visit your nearest branch.

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.

Track your investment

Options at maturity


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 the holding facility while you decide what to do.

If you don’t provide instructions to us, your money will be placed in the 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.

Things you should know

*The offer is not available for Business, Corporate, Institutional and Government customers or Trusts. The offer is not available online. 

As this advice has been prepared without considering your objectives, financial situation or needs, you should before acting on this advice, consider its appropriateness 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.