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

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

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 $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.

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

Things you should know

  • 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, 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.