Website: http://www.commbank.com.au

Authority: Commonwealth Bank of Australia or commonly known as CBA or Commbank is a major Australian financial services provider with a 1000 branch locations and considered one of the 'big four' banks in Australia. It first commenced operations back in 1912 and is currently listed on the Australian Stock Exchange.

How to open a Commonwealth Bank Term Deposit Account:

- You may apply directly online from their bank website:  http://www.commbank.com.au

- You may also open this product within one of their branches. You may find your nearest branch from their bank website.

- You can call also them by telephone on Call 13 2221 for more detailed information about opening this account.

What are the terms and requirements to open a Commbank/Commonwealth Bank 1 Year Term Deposit online:

When applying online you will be required to be over the age of 18 and have an Australian residential address. As at 2011, minimum term deposit range from $5,000 up to $500,000 and terms range from 1 month up to 5 years.

Information on CBA 1 Year Term Deposit Rates:

Like the other big four banks in Australia, The Commonwealth Bank of Australia (CBA) is an Authorised Deposit-taking Institutions (ADIs) and the interest rates it sets for its 1 year deposit rates are highly correlated and influenced with the monetary policy decisions of the Reserve Bank of Australia. When setting rates for twelve months deposit rates CBA would forecast the RBA future policies as well factors such as its business model on net interest margins, regulations and its funding source requirements. Commonwealth banks gets a significant amount of its funding requirements from local deposits from its domestic market in Australia to fund credit growth, and will access wholesale markets within and outside of Australia if required, however depending on the need of obtaining stable sources funding such as deposits over short-term wholesale liabilities it may set rates to be more competitive.

The interest rate set below is for a 12 month term deposit and requires a minimum investment of $50,000 to less than $1,999,999 with an annual maturity.