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Investing & Super / Self-Managed Super Fund / Term Deposits for SMSF

Lunar New Year Offer

4.68% p.a. for 18 months

Special offer available from 10 February 2026 for a limited time only. Conditions apply.1

Features & benefits

Fixed return on your investment

If you don’t need immediate access to your money, enjoy the certainty of a fixed rate of return.

Choose from a range of terms

Choose a term from one month up to five years. 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.

Keep track of your investment

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

Rates & fees

We’re offering a special Lunar New Year rate of 4.68% p.a. on an 18-month term available from 10 February 2026 for a limited time only. Conditions apply.1

See Term Deposit rates

The above Term Deposit rates are available online and in branch for customers with a minimum of $5,000 and a maximum limit of $5,000,000 per term deposit. For amounts greater than $1,999,999 or to open Business Term Deposits, please contact any CommBank branch or your relationship manager.

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. 

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

You can open a Term Deposit in the name of your SMSF online or in branch. You’ll need a CommBank SMSF cash management account (e.g. Commonwealth Direct Investment Account, Business Transaction Account) before you can apply.

To open online:

All applicants need to be 18 years or older and have:

  • A minimum deposit amount of $5,000. You’ll need to visit a branch for deposits $2,000,000 and above
  • An Australian residential address
  • An existing NetBank ID and CommBank account in the same name as your Term Deposit. You’ll need this to transfer funds into your Term Deposit
  • If you have a TFN (or ABN if applicable):
    • Your Tax File Number (TFN) or TFN exemption handy. You don’t have to provide your TFN or exemption to for your Term Deposit but, by law, we have to withhold tax if you choose not to
    • Your SMSF’s ABN. To get an exemption from withholding tax, you’ll need to provide your TFN or TFN exemption separately via 13 1998 or at your nearest branch

Open online

To open in branch:

Contact your nearest branch and consider:

If you're new to CommBank:

  • Refer to the SMSF checklist to see which documents to bring and who will need to visit in branch with you

If you're an existing CommBank SMSF customer:

  • At least two trustees/directors are required to visit in branch to sign the authority form (A153), plus anyone else you’d like to operate the account

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

FAQs

You will need a transaction account (e.g. Commonwealth Direct Investment Account, Business Transaction Account) in the name of your SMSF that you can manage on your own and that has sufficient funds (otherwise the Term Deposit will not be opened).

No. Funds can only be added when the term deposit matures, at the time of renewal.

Yes, with 31 days’ notice. An interest adjustment and administration fee may apply. If you are experiencing hardship, please visit your nearest branch. Please see Withdrawing Term Deposit before maturity.

A Term Deposit in the name of your SMSF can be opened online or in branch but your SMSF profile must be set up first. For online applications, you must be registered for NetBank.

No

No

Without a valid ABN, TFN or TFN exemption applied to your Term Deposit, you may be subject to withholding tax from any interest earned on your account/s.

Please visit your nearest branch to update your ABN/TFN details.

There is a minimum of $5,000 and a maximum limit of $1,999,999 per customer when opening online. For amounts greater than $1,999,999, please visit your nearest branch.

Yes, all trustees or directors of the trustee company will need to visit their nearest branch to update their details if they have not done so already.

If you already hold another account in the name of your SMSF, this identification process should already have been done, provided trustee details have not changed.

Learn more about Self-Managed Super Funds

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Things you should know

1 Available on balances from $5,000 to $5,000,000 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. For renewing Personal Term Deposits, customers can also call 13 2221. For renewing SMSF Term Deposits, customers can call 13 1998.

The target market for this product will be found within the product’s Target Market Determination.

This information has been prepared without considering your objectives, tax and 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 (PDF).

Interest rates on offer may vary at any time without notice.