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About Term Deposits


  • Choose a term that suits you from one month to five years
  • Your interest is fixed for your chosen term 
  • Options to invest from $5,000

  • Four weekly – interest paid every 28 days and at maturity
  • Compound four weekly – interest added to your Term Deposit every 28 days and at maturity
  • Six monthly – interest paid every six months* and/or at maturity
  • Compound six monthly – interest added to your Term Deposit every six months* and/or at maturity
  • Annually – interest paid every 12 months
  • Compound annually – interest added to your Term Deposit every 12 months# and/or at maturity
  • Open a Term Deposit in NetBank and see it when you next log on
  • Give instructions – advise if you want to roll over your Term Deposit, withdraw it at maturity or a combination of both
  • Free maturity alerts – get SMS, email and NetBank message notifications. Set up alerts 

What you'll need

What you'll need

  • Minimum deposit of $5,000
  • Be 18 years or over if applying online
  • If applying online you'll need an existing CommBank account number (if you have one) or an existing personal bank account (if no CommBank account is held)
  • This will be used to transfer funds for opening your Term Deposit via BPAY® and receive funds from it if you have interest paid out of withdraw funds
  • Tax File Number (TFN) or TFN Exemption. You do not have to provide your TFN for the term deposit, but if you don’t CommBank is legally required to deduct tax from any interest earned on the term deposit above a certain threshold

Rates and fees

These rates are available in branch for Term Deposit amounts of $10,000 to less than $2,000,000 and in NetBank for amounts of $5,000 to less than $2,000,000.

Learn more


Interest rate for $10,000 to $49,999

Interest rate for $50,000 to $1,999,999

Interest paid

60 months

2.80 % p.a.

2.90 % p.a.


36 - 47 months

2.60 % p.a.

2.70 % p.a.


12 months

2.35% p.a.

2.45 % p.a.

At the end of the term

8 months

2.40 % p.a.

2.40 % p.a.

At the end of the term

4 months

2.35 % p.a.

2.35 % p.a.

At the end of the term

Looking to earn an ongoing competitive interest rate whilst still having the flexibility to access your funds when you need it? Consider NetBank Saver, our high interest online savings account.

Term Deposits have no set up or establishment fee. If you seek prepayment of your term deposit prior to its maturity date, you must give us 31 days' notice and may incur an interest adjustment and be charged an administration fee.

More fees and charges may apply.

Learn more

Related products


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Lets under 18s get on the path to financial freedom with bonus interest for regular savings.

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NetBank Saver

A high-interest online savings account that links to your CommBank transaction account.

Learn more

Tips from the Academy of Saving

How to create a budget

Learn how to create a budget so you know where your money is coming from, how much you have and where it goes.

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Set a savings goal

Whatever you are saving for, learn how to get there sooner by setting savings goals, creating a plan and sticking to it.

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Saving for a holiday

Whether it’s a short break or the trip of a lifetime, careful saving is essential. Here are tips to help you save on your next holiday.

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Academy of Saving

Learn how to become a better saver with the Academy of Saving, a dedicated platform of practical saving tools and tips to help you reach your goals.

Read more

Important information

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.

Interest rate effective date:

  • Term Deposit Headline rates - 24 July 2015

* For Term Deposits of less than six months, interest is paid/added to the deposit at maturity

# For Term Deposits of less than 12 months, interest is paid/added to the deposit at maturity

Registered to BPAY Pty Ltd ABN 69 079 137 518