A multilayer capacitor includes a capacitor body including a plurality of first and second internal electrodes alternately disposed therein and a dielectric layer interposed therebetween, and having first to sixth surfaces, opposing each other, respectively; a plurality of external electrodes connected to the first and second internal electrodes; an insulating layer disposed on the first surface; first and second terminal electrodes spaced apart from each other in a direction in which the third and fourth surfaces are connected, on the insulating layer; and a connecting member electrically connecting the first and second terminal electrodes and the external electrodes.