Community First Term Deposit
- Interest rate 6 months interest rate
- Up to 4.60% p.a.
- Minimum opening deposit
- $5,000
- Maximum deposit
- $99,999
Summary
Earn up to 4.6% on a 1 year term deposit with Community First.
Alternatively, if you're looking for other terms, outside of the 12 months. Then the minimum deposit requirement is $5,000. All terms do have a maximum balance of $1,000,000.
Pros
-
Large range of term lengths
-
No fees
-
Easy online application
Cons
-
No term lengths over 3 years
Details
Key details
| Product Name | Community First Bank Term Deposit |
| 3 month interest rate | 4.45% |
| 4 month interest rate | 4.45% |
| 6 month interest rate | 4.60% |
| 7 month interest rate | 4.60% |
| 9 month interest rate | 4.60% |
| 12 month interest rate | 4.60% |
| 24 month interest rate | 4.40% |
| 36 month interest rate | 4.30% |
| Minimum Opening Deposit | $5,000 |
| Government guarantee | Yes |
Eligibility
| Joint account availability | Yes |
| Min Deposit | $5,000 |
| Available to children | No minimum age |
Compare other term deposit accounts
Compare other products from Community First Bank
- Community First Bank credit cards
- Community First Bank home loans
- Community First Bank savings accounts
- Community First Bank personal loans
- Community First Bank car loans
Your reviews
Alison Finder
Editor
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Alison Banney Finder
September 08, 2023
Hi, you’ve reached Finder, not Community First Bank. You can see branch locations for this bank here: https://communityfirst.com.au/locations
Tomako
March 06, 2023
With reference to the answer regarding not able to accept transfer of deposit over a timeframe of 1 week, how are we able to overcome the issue if we want to setup a term deposit of $100,000 but maximum bank transfer per day is $20,000. Does Community First have a branch in WA where we can walk in to deposit the total cash of $100,000 in 1 go?
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Alison Banney Finder
March 07, 2023
Hi Tomako,
You can speak to your bank about increasing your transfer limit temporarily for the day you’d like to make a transfer of that amount. You just need to give them a call and verify yourself for the request to go through.
If you have any other issues with this we suggest you speak with your bank and Community First directly – at Finder, we aren’t affiliated in any way with any bank and can only offer you general advice.
Hope this helps. Thanks,
Alison
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J K
February 28, 2023
Hi Alison, in regards to this statement
“Interest payments
The above table shows the interest rate that applies when your interest is paid at maturity of the term length. You can select to have your interest paid monthly instead, however a slightly lower interest rate will apply.”
If we opt for interest paid monthly, does it go to a separate account or it goes into the term deposit account and compounded? I’d like to learn more about compound interest and how it works.
Thank you.
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Alison Banney Finder
March 02, 2023
Hi,
Your interest payments with a term deposit go into a separate bank account, they’re not added back into the term deposit. Term deposits don’t usually offer compound interest.
Savings account do offer compound interest – meaning you can earn interest on your interest.
Thanks,
Alison
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Wasfy Latif
February 22, 2023
Hi,
Does these rates apply to SMSF entities or just personal accounts?
Raj Lal Finder
March 17, 2023
Hi Wasfy,
Thanks for contacting Finder.
The Community First Term Deposit ($50k+) is for personal accounts.
For SMSF term deposits, have a look at our SMSF term deposits page.
Thanks
Raj
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David D
February 17, 2023
Can a State Registered Incorporated Charity Association become a member?
Alison Banney Finder
February 21, 2023
Hi David,
Community First does offer term deposit accounts to different types of business customers. They recommend you get in touch with them directly to discuss your particular organisation and what type of account you’re looking for.
Thanks,
Alison
Ravendra
August 26, 2023
You pay monthly interest to other institutions where is your branch near liverpool