Bunbury was laid down by Evans Deakin and Company at Brisbane on 1 November 1941, launched on 16 May 1942 by Mrs. F. A. Cooper, wife of the Treasurer of Queensland, and commissioned on 3 January 1943. The corvette received two battle honours for her service during World War II; "Pacific 1943-45" and "New Guinea 1943-44". Bunbury paid off to reserve on 26 August 1946 and was sold for scrap to the Kinoshita Company of Japan on 6 January 1961.