The turning of small-diameter deep holes is usually critical when the process of machining is unstable and the use of a special boring bar is often necessary. This paper is focused on the influence of cutting speed with a combination of cutting conditions such as feed and tool overhang on chatter marks, surface roughness and roundness of machined holes. In the experiment, two types of tool material for indexable boring bars were used, namely cemented carbide and steel. These are a group of boring bars used for the internal turning of holes of small diameters with indexable cutting inserts. Monolithic carbide boring bars are already used for internal turning of holes of even smaller diameters. Uncoated turning inserts made of cermet were used. The cutting tests were performed on the DMG CTX alpha 500 turning center. In the case of the steel boring bar, decreasing the cutting speed really led to an increase in the quality of the surface roughness and reduced the formation of chatter marks and large chatter marks. The cemented carbide boring bar also followed a similar trend, but it should be noted that the overall effect was not so great. This means that increasing the cutting speed makes the cutting process less stable and, vice versa, lower values of cutting speed reduce the formation of chatter marks and the related deterioration of the surface quality. The occurrence of chatter is directly related to the increase in the surface roughness parameters Ra and Rz of the machined surface. It can be stated that the dependence of roundness deviations on cutting speed values has a similar character to the results of the measured surface roughness values. Therefore, if the cutting speed is increased, it will make the cutting process less stable; this is also indirectly reflected in larger roundness deviations. However, it is necessary to state that this phenomenon can be observed in turning holes with small diameters using the steel boring bar, where the unstable cutting conditions materialized in the form of chatter marks.