Commonwealth Bank Business Term Deposit
- Interest rate 12 months interest rate
- Up to 4.25% p.a.
- Minimum opening deposit
- Account keeping fee
The Commonwealth Bank Business Term Deposit allows you to invest your surplus business cash for a term length that suits you between 1 month and 5 years, and earn a fixed interest rate for the life of the term. This means you can have peace of mind knowing exactly what return your money will make. There are no establishment fees or ongoing account fees to pay.
Large range of term lengths available
No set-up or account keeping fees
Fixed interest rate
Interest rates aren’t as competitive as some others in the market
Must give 31 days notice to withdraw funds early
|Product Name||Commonwealth Bank Business Term Deposit|
|3 month interest rate||3.45%|
|4 month interest rate||3.50%|
|6 month interest rate||3.70%|
|7 month interest rate||3.80%|
|9 month interest rate||3.95%|
|12 month interest rate||4.25%|
|24 month interest rate||3.95%|
|36 month interest rate||3.95%|
|48 month interest rate||3.95%|
|60 month interest rate||3.95%|
|Minimum Opening Deposit||$5,000|
|Minimum age requirement||18|
|Minimum Age Requirement||18|
|Joint account availability||Yes|
|Available to children||Not available for children|
Terms from 1 month to 5 years
You can choose between a large range of term lengths from just one month to five whole years.
Minimum opening deposit of $5,000
You need a deposit of at least $5,000 to open this term deposit.
The rates shown above are for deposits up to $49,999. If you've got more to deposit, you can earn a slightly higher fixed rate.
You can select to receive interest payments monthly, annually or at account maturity.
No account fees
There are no establishment fees or ongoing account keeping fees to worry about with this term deposit.
31 days notice is needed for early withdrawals
If you need to withdraw money from this term deposit before it reaches maturity, you need to provide the bank with 31 days' notice. You'll also be charged an admin fee of $30 and may have your interest rate reduced.
Term maturity options
You'll receive an alert before your term deposit is set to mature, so you can decide what you'd like to do. You can either roll over the term into a new term with the current interest rate on offer, withdraw the money, or a combination of these (you can withdraw som and reinvest the rest).
How to applyUnless you're an existing Commonwealth Bank customer, you need to call or visit a Commonwealth Bank branch to open a Business Term Deposit. Make sure you meet the following eligibility criteria and have the necessary documents with you.
- You must be a registered Australian business with an Australian Business Number (ABN).
- You must have a Tax File Number (TFN) for your business (or a TFN exemption code).
- The person applying for the term deposit must be at least 18 years old.
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