Commonwealth Bank Term Deposit Rates – 2026 Rates and Comparisons

Commonwealth Bank currently offers term deposit rates ranging from 3.10% p.a. for three-month terms to 5.00% p.a. for longer 24-to-33-month commitments on balances exceeding $50,000. A limited-time special rate of 4.90% p.a. applies to 12-month deposits opened from 27 March 2026, positioning CBA competitively within the Big Four banking sector though not at the peak of market offerings.

The bank structures its returns across distinct balance tiers, with sub-$50,000 deposits earning marginally lower rates than those between $50,000 and $5 million. All deposits fall under the Australian Government’s Financial Claims Scheme, protecting individual account holders up to $250,000 per Authorised Deposit-taking Institution.

Rate movements throughout 2026 continue reflecting the elevated cash rate environment established by the Reserve Bank of Australia, with term deposit yields tracking broader monetary policy adjustments.

What are the current Commonwealth Bank term deposit rates?

• The 12-month special rate of 4.90% p.a. offers enhanced returns for new and renewing deposits, subject to availability.
• Maximum standard returns of 5.00% p.a. require locking funds for 24–33 months with balances above $50,000.
• Rate stratification creates a two-tier system: balances between $5,000–$49,999 earn 0.05% less than $50,000–$5 million tiers.
• Short-duration deposits (3–6 months) yield significantly less than medium-term alternatives, reflecting inverted yield curve pressures.
• Interest calculation occurs daily, with crediting options spanning 4-weekly, 6-monthly, annual, or maturity-only intervals.
• No establishment or setup fees apply to new term deposit accounts.
• Maximum single deposit limits cap at $5 million per account, with SMSF online applications restricted to approximately $2 million.

Rates verified through Commonwealth Bank’s official term deposit portal and independent aggregator data from Canstar. Variations between published rates often reflect timing differences between special offer launches and standard rate updates.

How do Commonwealth Bank term deposit rates compare to other banks?

Within the Big Four banking consortium, CBA’s 12-month offerings sit marginally below National Australia Bank’s 5.00% p.a. standard rate, though the special 4.90% p.a. promotional rate narrows this gap for eligible deposits. Australia and New Zealand Banking Group matches NAB at 5.00% p.a. for annual terms, while Westpac offers 3.95% p.a. with conditional bonuses potentially lifting returns to 5.00% p.a. for existing digital customers.

Smaller Authorised Deposit-taking Institutions frequently exceed these figures. Gateway Bank and comparable regional operators advertise rates up to 5.45% p.a. for 12-month terms, often with lower minimum deposit requirements of $1,000 to $10,000. Finder’s Big Four comparison data confirms CBA’s positioning as competitive though not market-leading.

The business banking division maintains parallel rate structures for commercial entities, though retail customers typically access the published personal banking rates.

What term lengths and minimum deposits are available for CommBank term deposits?

Available Duration Options

Commonwealth Bank offers fixed terms spanning 3 months, 6 months, 12 months, 24–33 months, and 60 months. The 24-to-33-month bracket represents the bank’s optimal yield window, currently returning 5.00% p.a. for qualifying balances. Shorter durations suit liquidity-conscious investors despite lower returns, while the 60-month option appeals to those prioritising capital stability over yield maximisation.

Balance Tiers and Entry Requirements

Standard term deposits require $5,000 minimum opening balances. Alternative products accepting $1,000–$4,999 exist but impose substantially lower interest rates, typically around 1.10% p.a., rendering them uncompetitive for serious savers. The upper threshold caps individual deposits at $5 million, with online applications for Self-Managed Superannuation Funds limited to approximately $2 million; larger SMSF contributions require branch facilitation.

Interest Payment Mechanics

CBA calculates interest daily based on the principal balance. Distribution occurs according to selected frequencies: at maturity for terms ≤12 months unless otherwise specified, or via 4-weekly, 6-monthly, or annual intervals for longer durations. Compounding options allow interest reinvestment, though the standard default pays interest to a linked transaction account.

How do I open a term deposit with Commonwealth Bank?

Applications proceed through digital channels or physical branches, depending on deposit magnitude and entity type. Individual applicants may establish accounts online for amounts up to $5 million. SMSF trustees face reduced online limits, requiring in-person attendance for allocations approaching the $5 million ceiling.

Documentation requirements include standard identification verification and proof of the funding source account. TWD to AUD – Live Rate, Charts and Conversion Guide provides relevant exchange rate monitoring for international investors converting Taiwan Dollar holdings to fund Australian dollar deposits.

Upon application approval, funds transfer from an existing Commonwealth Bank transaction account or external financial institution. Rate locking typically occurs upon receipt of cleared funds, though the special 4.90% p.a. offer requires opening between specified campaign dates.

Are Commonwealth Bank term deposits government guaranteed and what are the early withdrawal rules?

Deposits qualify for the Australian Government’s Financial Claims Scheme, administered by the Australian Prudential Regulation Authority. This statutory guarantee protects deposits up to $250,000 per account holder per ADI, meaning individual customers holding multiple term deposits with CBA receive aggregate protection capped at $250,000. Joint accounts receive separate coverage calculations.

Early termination necessitates 31 days’ written notice, a regulatory requirement affecting all ADIs offering term deposits. FCS documentation outlines the broader guarantee framework, though penalty specifics for breaking CBA terms remain undisclosed in publicly available rates and fees disclosures.

No establishment fees, monthly maintenance charges, or closure costs apply to standard term deposit products. Interest rate adjustments remain at the bank’s discretion, with official rate sheets subject to change without advance notification.

Has there been a recent change in CBA term deposit rates?

1. 27 March 2026

   Commonwealth Bank introduces limited-time special rate of 4.90% p.a. for 12-month terms, applicable to new deposits and renewals between $5,000 and $5 million.

2. 1 April 2026

   Independent aggregator Canstar publishes verification of CBA’s standard 12-month rate at 4.50% p.a., noting the 0.40% differential between standard and promotional offerings.

3. 31 March 2026

   Official PDF rate documentation confirms 60-month rates at 3.90–4.00% p.a. for $50,000+ balances, representing marginal compression in long-duration yields.

Rate volatility throughout early 2026 correlates with Reserve Bank of Australia cash rate maintenance in the 4–5% range, reflecting broader monetary policy transmission to deposit products.

What is confirmed and what remains uncertain about CBA term deposits?

How do term deposits fit into the current economic landscape?

Term deposit rates in 2026 represent the highest returns available from Commonwealth Bank since the pre-pandemic era, reflecting the RBA’s sustained cash rate elevation designed to moderate inflationary pressures. The 4.50–5.00% p.a. range offers genuine real-return potential depending on consumer price index movements.

For investors managing international currency exposure, exchange rate fluctuations can impact the effective yield when converting foreign capital. TWD to AUD – Live Rate, Charts and Conversion Guide offers technical analysis for Taiwan Dollar to Australian Dollar conversions relevant to expatriate or international depositors.

The banking sector’s competition for deposits has intensified, with smaller ADIs offering premium rates above 5.00% p.a., though CBA’s institutional scale provides operational stability and extensive branch network access that regional competitors cannot match.

What do independent sources say about these rates?

“Commonwealth Bank’s term deposit rates are competitive but not the highest among the Big Four or smaller banks, with special rates occasionally narrowing the gap.”

— Finder Big Four Banks Comparison, April 2026

“CBA rates vary by balance tier, term length, and payment frequency, with standard rates ranging from 3.10% p.a. for 3 months to 5.00% p.a. for 24-33 months.”

— Canstar Term Deposit Analysis, 1 April 2026

Key considerations for prospective depositors

Commonwealth Bank term deposits suit investors prioritising capital security and predictable returns within a regulated major bank environment. The 4.90% p.a. special rate and 5.00% p.a. long-term standard rates compete effectively against ANZ and Westpac, though NAB currently maintains marginal advantages in 12-month pricing. For those managing multiple financial obligations including telecommunications expenses, the Telstra Prepaid Recharge – Complete Top-Up Guide offers parallel administrative frameworks for recurring payment management.

Frequently asked questions