Commonwealth Bank Term Deposit - $5,000 to $49,999

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Interest rate 24 months interest rate: Up to 4.20% p.a.
Minimum opening deposit: $5,000
Account keeping fee: $0
Maximum deposit: $49,999

Summary

A fixed rate term deposit that allows you to see exactly how much you will earn and when that money will be available.

With a minimum of $5,000 and a fixed interest rate scaled to its maturity date, you can make a savings plan that helps you achieve your financial goals. This is a fee free term deposit that locks your money away, helping you to resist the urge to spend your savings.

Pros

$0 Account keeping fees
Wide ranges of terms from from 1 month to 5 years

Cons

31 days advance notice required in case of withdrawing funds before maturity
Minimum investment of $5,000

Details

Key details

Product Name	Commonwealth Bank Term Deposit - $5,000 to $49,999
3 month interest rate	2.80%
4 month interest rate	2.90%
6 month interest rate	3.00%
7 month interest rate	3.05%
9 month interest rate	3.15%
12 month interest rate	3.70%
24 month interest rate	4.20%
36 month interest rate	3.35%
48 month interest rate	3.35%
60 month interest rate	3.35%
Minimum Opening Deposit	$5,000
Minimum age requirement	18
Government guarantee	Yes

Eligibility

Minimum Age Requirement	18
Joint account availability	Yes
Min Deposit	$5,000
Available to children	Not available for children

Key features

No monthly fees

You will not be charged any set up costs or monthly fees by CommBank for their term deposit.

Fixed interest rates

The interest rates for the term deposit are fixed and tiered, with higher terms yielding you a better return on your investment.

A range of term lengths to choose from

The terms you can choose from range from one month to five years.

How is the interest calculated and paid?

The interest on the balance is calculated daily and will either be paid into the account once a year or when the term reaches maturity.

Minimum investment required

You are required to make a minimum investment of at least $5,000 but it may not exceed $2 million.

31-day notice required for early withdrawal

If you need to end your terms early, you must give CommBank at least 31 days notice of your intent. This will result in an adjustment of the interest to match the new terms, along with an administration fee.

Choice to renew the term

You are given seven days after the account reaches maturity to either withdraw the money or reinvest it into a new term deposit. If you do decide to withdraw, no interest will be accrued during that seven day period.

Online banking (NetBank)

With CommBank's NetBank you can view the progress of your term deposit online and let the bank know what you would like to do once the account has reached the end of its terms.

Alert options and services

You will be alerted for free with an SMS text, email or NetBank notification when your term deposit hits maturity.

Compare more CommBank products

Launch term deposit calculator

How to apply

If the terms of Commonwealth Bank's term deposit suit your financial needs you can begin your application online.

Eligibility

There are some eligibility requirements you will need to meet before the bank will consider an online application:

Minimum age. If applying online you must be at least 18 years old. Younger individuals who wish to open a term deposit will need to visit a Commonwealth Bank branch.
Residency requirements. You will need to be able to provide proof that you are currently residing in Australia.

Depository requirements. A minimum deposit of $5,000 is required to open a term deposit account.

Documentation needed

In addition, the application will require information from the following documentation before it can be opened:

Tax file number. Your tax file number (TFN) or TFN exemption is not compulsory, but if you do not provide it, CommBank is obligated to deduct tax from the interest earned at the highest marginal rate.
Identification. If the bank is unable to confirm your identity online using your passport, driver's licence or Medicare card you will have to complete the identity verification in person at a branch.
Account number. When applying online you will need to be able to provide an existing CommBank account number or other personal banking account. This account will be used to transfer the deposit needed to open the account as well as receive interest payments if you choose to have those paid out.

What happens after I submit my application?

After submitting your application CommBank will make the necessary withdrawal from your nominated account into your new term deposit, where those funds will begin earning interest.

Am I penalised if I access my term deposit before it matures?

If your funds are only invested for a portion of the agreed term, the interest rate to date will be adjusted by a certain percentage. Please refer to the table below.

Percentage of time elapsed in your term deposit	Adjustment to be applied as a % of your interest rate
0- less than 20%	90%
20 to less than 40%	80%
40 to less than 60%	60%
60 to less than 80%	40%
80 to less than 100%	20%

For example, for half of the agreed term (50%) then the interest rate will be adjusted by 60%. Hypothetically, if your interest rate was 4%, (4% p.a. x 60%) = 1.60% p.a.

Sources

Finder writers are subject matter experts and use primary sources, in-depth research and interviews with other experts to ensure you're getting accurate, up-to-date information. Articles are fact checked in line with our editorial guidelines.
1. Commonwealth Bank term deposit information page
2. Commonwealth Bank term deposit TMD

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Alison Finder

Editorial Manager, Money

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jerry de freitas

November 03, 2025

Hi Team

if i invest 600k for 12 months best rate?

Alison Banney Finder

November 04, 2025

Hi,

Commonwealth Bank currently offers 3.05% p.a. for 6 months for balances between $50,000 and $2m.

You can take a look at the 6 months rates offered by other banks here: https://www.finder.com.au/term-deposits

If you click on the 6 months p.a. column it will sort the table from highest rate.

Thanks,

Alison

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James

June 06, 2023

what is the best rate for $200,00 for 12 months at the CBA

Sarah Megginson Finder

June 28, 2023

Hi James,

As rates are changing constantly at the moment in the rising rate environment, your best bet is to contact CBA directly to find out their current rates as of the day you wish to invest your funds in a term deposit.

As of June 27, 2023, the rate for $200,000 for 12 months was 4.25%.

Hope this helps!

Show more Show less

Need to know

May 15, 2023

Hi Team,

The CBA increased the interest rate for home loans on 5/5/23 by the full RBA rate of 0.25%.

When will this be reflected in your term deposit accounts, most of which are lower than the current RBA cash rate of 3.85% whilst my mortgage is 7.5%+

Alison Banney Finder

May 16, 2023

Hi John, you’ve reached Finder, not CBA. We’re a free comparison service and are not associated in any way with any bank, so can’t comment on the interest rate decisions by banks. We’d suggest you get in touch with CBA directly about this.

Keiko

April 15, 2023

Hi there,

If I put in $5,000.00 for 12 months for a TD, could I add money to the TD during the period?

Thanks,

Alison Banney Finder

April 17, 2023

Hi, once you open a term deposit it’s locked for the duration of the term length – you can’t take money out of it or put extra money into it.

Bradley

March 14, 2023

Hi there,

If I put in 50,000 over 3 years what return would I get after the 3 years

Alison Banney Finder

March 15, 2023

Hi Bradley,

Using the current CBA term deposit rate for 3 years which is 4.00% p.a., you’d earn $6005.48 in interest after 3 years.

Thanks,

Alison

Alison is an editor at Finder and a personal finance journalist with over 10 years of experience, having contributed to major financial institutions and publications such as Westpac, Money Magazine, and Yahoo Finance. She is frequently quoted in media outlets like SmartCompany and SBS, offering expert insights on superannuation and money management. Alison holds a Bachelor of Communications in Public Relations and Journalism from the University of Newcastle, and has earned three ASIC RG146 certifications in superannuation, securities and managed investments and general financial advice, ensuring her expertise is fully aligned with ASIC standards. See full profile

Commonwealth Bank term deposit

Pros

Cons

Key features

No monthly fees

Fixed interest rates

A range of term lengths to choose from

How is the interest calculated and paid?

Minimum investment required

31-day notice required for early withdrawal

Choice to renew the term

Online banking (NetBank)

Alert options and services

How to apply

Eligibility

Documentation needed

What happens after I submit my application?

Am I penalised if I access my term deposit before it matures?

Sources

Sources

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