CBA term deposit interest calculator

Thinking about taking out a term deposit with Commonwealth Bank? Use our term deposit calculator to see how much you can earn under different investment scenarios. You can also see how Commonwealth Bank term deposits compare with other options.

Deposit Amount

$

Savings Duration

months

Final balance at the end of term would be

at interest rate 0.20 %

Pros and cons

  • Australia’s biggest bank
  • Branch access
  • Lower term deposit rates

Commonwealth Bank term deposits rates

Interest rate

0.20

% p.a

for 6 months

Min. deposit

$50,000

Next rate increased

0.25

% p.a

for 9 months

Max rate

0.35

% p.a

for 12 months

Balance Amount

$500,500

Features
Automatic Maturity Rollover
Early Withdrawal Available
Is Covered By Government Gurantee
Joint Application Available
Maturity Alert By Email
Maturity Alert By Phone
Go to site
More details

About Commonwealth Bank term deposits

CBA offers term deposits from 1 month to 5 years. Interest is paid monthly, quarterly, biannually, annually or at maturity. 

Its term deposit rates range from low to moderate, with different rate tiers for deposits under $5,000, $5,000 - $49,999 and $50,000 - $1,999,999. 

CBA does not charge any monthly service fees. However, early termination or break fees may apply. 

Commonwealth Bank term deposits review

As Commonwealth Bank is the biggest bank in Australia, it may not always need to offer the highest term deposit rates on the market compared to smaller providers with lower overheads. 

CBA also offers a range of other financial products, including home loans, credit cards and savings accounts. If you’re the type of customer who likes all their financial products to be with the same bank, CBA may be helpful in that regard.  

Customers who rely on face-to-face contact with their bank may also benefit from choosing a CBA term deposit. As it is Australia’s biggest bank, this means customers have access to over 1,000 branches, including in rural areas.

Learn more about term deposits

Can I negotiate a fixed term deposit rate with the bank?

“Can I negotiate a fixed term deposit rate with the bank?” you may be wondering.

Many banks welcome negotiation when it comes to term deposit rates, especially with deposits of over $100,000. Even if your deposit is lower than $100,000, it may be worth a discussion with your bank.

Negotiating with your bank could secure you a higher fixed rate, which will earn you extra interest over your term. You may also discover bonuses or special offers you can acquire through your bank.

Securing the highest interest rate possible is the key to making the most of your term deposit. You may have compared deposits online or discussed your options with a financial adviser, but you also might be wondering about negotiation in order to get a better rate.

What are the current AMP Bank business term deposit rates?

Term deposit interest rates are subject to frequent market change. To view the most current AMP Bank business term deposit rates, it’s best to view the provider’s website directly

If you want to earn competitive rates on your fixed deposits for an amount between $100,000 and $500,000, AMP Bank deposit may worth considering. Term deposits with AMP Bank allow you to earn reliable returns for different tenures between one month and five years.

You can also choose when you want to receive the interest; monthly, quarterly, or half-yearly. If you wait until maturity, you’ll earn the full interest.

AMP Bank term deposits do not charge monthly maintenance fees. If you’re at least 13 years and an Australian citizen with a local address, you’re eligible for AMP Bank term deposit.

What are the Commonwealth Bank business term deposit rates?

You can invest surplus funds in a Commonwealth Bank (CBA) business term deposit for between one month and five years. The minimum deposit amount required by Commonwealth Bank is $5,000. The CBA business term deposit interest rates are based on the length of time or term you set when first investing your funds. Each term attracts different interest rates.

When it comes to other fees, there are no establishment fees or ongoing account keeping fees for business term deposits. The CBA business term deposit rates are fixed, so you know the exact amount you will receive on maturity. But suppose you want to withdraw the amount before maturity. In that case, you need to give 31-days’ notice and may also have to pay an admin fee, and the interest rate may also be reduced.

You can open a CBA business term deposit if you’re over 18 years and possess a Tax File Number (TFN) and Australian Business Number (ABN) for your business.

You can find the current rates on CBA's website.

What are ME Bank’s term deposit interest rates for businesses?

ME Bank offers a variety of rates for business term deposits, depending on the amount of time you choose. You won’t have to pay any set-up or account-keeping fees for your business deposit. You can invest as little as $5,000 or as much as $2 million with a term duration between one and 60 months. 

The ME business term deposit rate is determined based on the term and when you wish to receive interest payments. 

While rates are set by the lender, you should always check with ME Bank to find out what the term deposit rates are, and which are applicable to your situation. 

Which bank has the best term deposit rates?

If you’ve been shopping around for a term deposit, you might be wondering which bank has the best term deposit rates.

Term deposit rates will generally be affected by the amount you choose to deposit and whether you opt for a short or long term deposit.

Longer term deposits tend to have higher interest rates than shorter terms. The trade-off for earning a higher interest rate on your term deposit is that you can’t access your funds for the duration of the term deposit.

When comparing which bank has the best term deposit rates, it pays to do your research and compare how your funds will fare over the short and long term.

Unlike home loans or savings accounts which give you the option of fixed or variable rates, term deposits are always fixed, which means you get a guaranteed amount of interest over the term of the deposit.

What is a term deposit account in a bank?

A term deposit account in a bank is a type of investment where you lock away a portion of your savings for a fixed period in return for earning a set amount of interest.

Opening a term deposit account in a bank is a safe way to earn a stable return on your investment of cash.

Term deposit accounts can be a good way to give your savings an extra boost without the need to actively watch or manage your funds during the term of the deposit.

Term deposit accounts in a bank are a popular type of investment because they’re safe and there’s very little risk that you could lose your money.

If you make a term deposit of up to $250,000 with an authorised deposit-taking institution, it’s guaranteed by the Australian government, which means there’s virtually no risk of losing your money and you’re guaranteed return.

Interest rates vary depending on the length of the term, the amount you deposit and the bank you choose.

What are Macquarie Bank’s business term deposit rates?

Macquarie Bank’s business term deposit rates vary depending on the duration you choose. Terms start at one month and go up to five years. 

You can invest any amount between $5000 and $1,000,000 and you won’t be charged a fee. You’ll also have the flexibility of choosing when you want to receive the interest and have the option to roll over the balance once the TD matures. You can ask to have the interest deposited into  another bank account if you wish.

The latest Macquarie Bank term deposit rates can be found here

Are term deposits covered by the Australian government guarantee?

Yes, term deposits are covered by the Australian government guarantee.

Under the Financial Claims Scheme, the Australian government guarantees term deposits up to $250,000, capped at one person, per financial institution.

This means that your term deposit (if it’s $250,000 or less) is protected in the unlikely event the bank, building society or credit union collapses.

If you have more than $250,000 in a term deposit with one the one bank, for example, then only up to $250,000 of your principal is covered.

If you’ve got more than $250,000 and you wish to invest in a term deposit, you could consider dividing your money between term deposits and banks (limiting each deposit to $250,000 per bank).

That way all of your deposits are protected by the Australian government guarantee and you will not suffer any financial losses.

What are Bendigo Bank’s business term deposit rates?

Bendigo Bank offers businesses two types of term deposits - Standard and Gold. You can open a Standard term deposit by investing at least the specified minimum amount for a flexible investment period ranging up to five years. A Gold term deposit requires a larger minimum investment over a fixed term, which is currently one year.

However, you can’t add funds to a Standard term deposit after the first seven days, and any withdrawals before the review date need to be done on request. If you’ve opened a Gold term deposit, you can add more funds over the year, but withdrawals may be restricted just as with a standard term deposit.

A Standard term deposit’s interest rate depends on the amount deposited, the frequency of compounding interest, and the deposit term. Further, this interest rate may apply irrespective of how often interest is compounded. On the other hand, Gold term deposits usually offer a flat interest rate no matter how large or small the deposit, with the interest likely compounded every quarter. 

To find out about Bendigo Bank’s current business term deposit rates, visit the banks’ website.

How do term deposits work?

Term deposits are flexible, low-risk, and earn you interest over time. But before you apply to open a term deposit, you might be wondering: how do term deposits work?

A term deposit is an agreement you make with a financial institution. This agreement will specify a certain amount of money that you will give the bank for a certain amount of time. In return, you’ll earn a fixed amount of interest on your deposit throughout your term.

Term deposits work as an exchange between a financial institution and an individual. You can think of your term deposit as a loan to the bank. Because you’ve loaned the bank your money, they’re willing to pay you interest on your deposit.

What are the deposit rates offered by St. George?

If you’re looking to invest your spare business cash, St. George Bank has a variety of term deposit options. You can choose from terms between one month and five years. St. George Bank business term deposit rates vary depending on the duration. 

You can open an account for $1000 to a maximum amount of $2,000,000. You can also opt to receive the interest amount either in your St. George Bank account or another bank account, either by cheque or direct credit.

On maturity, you can automatically rollover the term deposit or close the account. You also can close the account before maturity, however, you’ll need to give 31 days’ notice to the bank.

What are Suncorp Bank's term deposit rates for businesses?

A term deposit with Suncorp Bank allows you to lock away a specific amount of money at a fixed interest rate for a nominated period. You will need to make a minimum investment of $5,000 and up to $2,000,000, and can select a period from one month to 36 for your investment. Term deposit investments ranging from one to 12 months are based on interest paid at maturity, while investments from 12 to 36 months are based on interest paid annually. 

While the interest rate will differ based on your investment amount and term duration, here are some of the most popular Suncorp Bank business term deposit rates as of January 2021: 

Term $5,000-$99,999 $100,000-$999,999 $1,000,000-$2,000,000
4 Months  0.50% p.a. 0.55% p.a. 0.60% p.a. 
7 Months  0.55% p.a.  0.60% p.a.  0.65% p.a.
12 Months  0.50% p.a.  0.55% p.a.  0.60% p.a. 
24 Months  0.65% p.a.  0.70% p.a.  0.75% p.a.

Please note that these interest rates are effective from 13th November 2020 and are subject to change without notice. Moreover, if you choose from an early withdrawal, the interest rate will be adjusted, and other charges are likely to be applied. 

 

What rates offered by Citibank on business term deposits?

Citibank’s business term deposits rates vary based on how long you invest. The bank offers short-term deposits for one, three, six, nine, and 12 months. You can also invest for longer terms between two and five years. The minimum investment is $10,000, and the maximum investment is $2 million.

How do you break a term deposit?

If you have found yourself in sudden need of funds, you may be wondering how to break your term deposit and access your savings.

If you need to break your term deposit, your first step should be to check the terms and conditions with your bank or provider. Many banks now require 31 days’ notice before you can access the funds in your term deposit, so in many cases you should first notify your bank that you will be breaking the term.

Once you have notified the bank and know when you will have access to your funds, you will then be liable to pay a breakage fee. Check with your provider to see how much this fee will be. You may also need to sacrifice a percentage of your interest as a penalty for breaking the term early.

Once you know when you will have access to your funds, and how much you will need to pay to do so, you are in a good position to decide whether you want to break your term deposit.

Can students make term deposits?

If you are a student who has managed to save some money and are looking for a safe investment option, you may be considering a term deposit. Most term deposits (and other bank accounts) are open to anyone who is at least 18 years old.

There are also some term deposits open to younger students, some even without an age limit. These term deposits are usually opened on the student’s behalf, by their parent or guardian.

A term deposit is generally a safe investment option, especially if you want to make sure you can’t touch your savings for a set period of time. If you are 18 or older, shop around for a competitive interest rate before committing. If you are under 18, speak to your parent or guardian to get started.