News

Opening Term Deposits online: faster and easier

We’ve created a fast, simple process so that NetBank customers can now open Term Deposits online in less than five minutes. As an existing NetBank customer, all your details are already
in the system, so the application process is quick and straightforward.

Once your application has been processed and the account has been opened, confirmation of your new Term Deposit (Lodgement Notice and Receipt) is immediately available to view via NetBank.

To invest in a Term Deposit and benefit from the security and competitive interest rates
offered by the Commonwealth Bank, just login to NetBank, click the Apply tab and then select Term Deposits.

Three simple steps

All you need to do is:

1. Enter the amount you would like to invest, the investment term and the interest payment option. The approximate amount of interest you will earn on your investment will be calculated for you.

2. Select the account you wish to use to transfer money from to open the Term Deposit.

3. Confirm (or provide) your Tax File Number and confirm your mailing address.

You’ll then be asked to review the information and confirm that it is correct before submitting your application.

View your funds instantly

As soon as your application is processed, the funds will be transferred from your nominated account to your new Term Deposit, and you’ll be able to view your new account in NetBank within 1 to 2 business days.

It’s that simple.