Term Deposit is a product for individual and corporate that can support the growth of your savings
- In March, three of the big four announced that they’d bump up interest rates on their term deposit offerings. Check out where the best rates from the big four sit now in comparison: The Westpac Term Deposit: 1.70% (1 year) to 0.70% (1 year) The Commonwealth Bank Term Deposit 1.70% (1 year) to 0.90% (13 months).
- Term Deposit Rates/Headline Rates# Term Opening deposit Term Deposit opened as Interest rate p.a. 4 Weekly Interest Payment Option 6 Monthly Interest Payment Option 30 months^ Individuals – $7,000/$5,000/$4,000/$2,000 Organisations – $10,000 DIMIA Bank Guarantee 0.20% 0.25% 48 months Individuals – $7,000/$5,000/$4,000/$2,000 Organisations – $10,000.
Benefits:
CBA 3 Year Term Deposit - Deposits Q: looking for the best rate on term deposit for $2250000 with interest paid monthly there are no rates applicable for this amount. Reply. Rhonda Mcanulty from Seven Hills, Australia.
| - | Available in a wide selection of currencies (IDR/AUD/USD). |
| - | Affordable minimum initial deposit. |
| - | Competitive interest rate. |
| - | Convenience in transaction through Internet/Mobile Banking with discount for transaction fee including: |
| - | Term Deposit Advice as a confirmation of placement, renewal, maturity / termination of the Term Deposit. |
Easy Time Deposit (TD) Transactions through Phone Indemnity / POI and Enjoy the Benefits:
- Ease of doing transaction anywhere without coming to branch.
- Customer is not required to sign any form. Customer is only required to confirm the transaction by Phone with our Relationship Manager (RM).
- Faster transaction processing and Time Efficient.
Deposit transaction options include: Time Deposit Placement, Time Deposit Prepayment and Time Deposit Termination.
Risk of Product
One of the risks attached in Term Deposit product is the changes in fees that can be done at anytime and it will be informed to customers through branches, website or other media deemed appropriate by the Bank.
Procedures and Requirements
Opening a Term Deposit can be done at the nearest Commonwealth Bank branch by completing and signing the account opening application form and providing the required documents or through Internet Banking (for existing customers).
Document Requirement:
| Resident | : | Valid ID (KTP) |
| Non Resident | : | Passport; and KIMS/KITAS/Reference letter from company/Reference Letter from Commonwealth Bank of Australia (CBA) |
| Institution | : | Documents requirement according to Terms and Conditions applied by Commonwealth Bank |
| Description | Fee |
| Initial deposit | IDR 50,000,000 or AUD/USD 5,000 |
| Break fee (if break before time to maturity) | 0,5% from Principal, interest is not paid.** |
*Fees and Charges is subject to change and it will be informed to customers through media deemed appropriate by the Bank.
**Early Break Time Deposit before maturity, the ongoing interest paid will be deducted from the principal
Interest Rate Calculation
Interest is calculated based on end of day balance according to the prevailing interest rate. Interest rate table can be access in here
Product Expiration
The expiry of the product will be when customer or Bank closes the account.
Product Issuer
This Product issued by PT Bank Commonwealth and guaranteed by Indonesia Deposit Insurance Cooperation/Lembaga Penjamin Simpanan ('LPS')***
***If the value of total deposit exceeds maximum value/if the interest rate of deposit exceeds interest rate of Indonesia Deposit Insurance Cooperation/Lembaga Penjamin Simpanan ('LPS'), deposit is not included and/or shall not be guaranteed by LPS in Deposit Insurance Scheme/Program Penjaminan Simpanan.