Term deposits · Side by side

Bankwest vs CommBank

Each bank at its highest rate for your choices, whichever of its deposits that is.

Compare on

Interest on $50,000 for 1 year

5.30% a year · paid at maturity

Both pay about $2,650 over 1 year.

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$50,000 until you say otherwise. Interest at each bank's rate for that amount, simple interest over the term. The government guarantee (the Financial Claims Scheme) covers up to $250,000 per person at each bank.

BankwestBankwest

Commonwealth BankCommBank

Figure by figure

The deposit behind the figures

Term Deposit

1 year · interest paid at maturity

Standard Term Deposit

1 year · interest paid at maturity

Interest rate

a year, on $50,000

5.30%

Interest over the term

on $50,000 for 1 year

$2,650

How interest can be paid

at 1 year

Monthly, quarterly, half-yearly or at maturity

Monthly, half-yearly or at maturity

Who gets the rate

Anyone opening one

Deposit amounts

this deposit, every band

$1,000 or more

$5,000 or more

Breaking it early

Changes aimed at strengthening the banking system mean we need 31 days' notice if you want to withdraw your funds before the maturity date. This can also affect the interest we pay you. You can still access your money at maturity and during the grace period. You may request the withdrawal of all or part of your funds prior to the maturity date provided that you give 31 days' notice. If your Term Deposit has less than 31 days to maturity, you will only be able to access funds on the maturity date. The notice period starts on the day you request withdrawal. However, where the request falls on a non-business day the notice period will start on the next business day. If you are experiencing hardship and need your funds before maturity, please contact us. If you withdraw all or part of your funds prior to the maturity date, your entitlement to interest in respect of the deposit will be reduced, according to when an early repayment is made. Please refer to the Term Deposits Terms & Conditions for further details.

Not described in the bank’s data. Usually 31 days’ notice, at a lower rate.

Terms offered

1 month to 5 years

Every term

The highest rate each side has at each term on $50,000, with the interest it pays.

3 months

5.00%

$625

1.65 points higher

3.35%

$419

6 months

4.40%

$1,100

0.90 points higher

3.50%

$875

9 months

4.40%

$1,650

0.65 points higher

3.75%

$1,406

1 year

5.30%

$2,650

5.30%

$2,650

2 years

5.00%

$5,000

5.20%

$5,200

0.20 points higher

3 years

5.00%

$7,500

0.40 points higher

4.60%

$6,900

4 years

5.00%

$10,000

1.00 points higher

4.00%

$8,000

5 years

5.00%

$12,500

1.00 points higher

4.00%

$10,000

Rates over time

The 1 year rate above, a cell a week. A move shows as ▲ or ▼ in the week it happened.

Bankwest

Go to siteEvery Bankwest term deposit

CommBank

Go to siteEvery CommBank term deposit

As of 26 October 2026, on $50,000 for 1 year, Bankwest pays $2,650 at 5.30%; CommBank pays $2,650 at 5.30%. Rates are the banks' own, published through Open Banking, at the amount above. Each row says which figure is higher; it doesn't say which deposit suits you.

Compare all 295 term deposits

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