A multilayer electronic component includes: a capacitor body having first to sixth surfaces, and including first and second internal; first and second external electrodes including first and second connection portions and first and second band portions; and a connection terminal including first and second land portions disposed on the first and second band portions, respectively, and having first and second cut-out portions, respectively. First and second solder accommodating portions are provided by the first and second cut-out portions in lower portions of the first and second band portions, respectively, and, 0.2≤SA1/BW1≤0.5 and 0.2≤SA2/BW2≤0.5 which in BW1 is an area of the first band portion, SA1 is an area of the first solder accommodating portion, BW2 is an area of the second band portion, and SA2 is an area of the second solder accommodating portion.