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| Rebate Offer |
N/A |
| Minimum Initial Investment |
No minimum* |
| Expected Close Date |
Ongoing |
| Description |
A new option for cash on the Colonial First State FirstChoice platform that is on deposit with one of Australia's leading banks, Commonwealth Bank. |
| Product Disclosure Statement |  | Download Product Disclosure Statement (PDS) |  | Request Product Disclosure Statement (PDS) |
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Introducing FirstRate Term Deposits from Colonial First State, available on the FirstChoice platform from 13 July 2009.
FirstRate Term Deposits are a new cash option offering the certainty of a competitive interest rate fixed until the maturity date. FirstRate Term Deposits are available over terms of 3, 6, 9 or 12 months, and offer another way to access the security of cash while you decide where to invest next.
Key Features
- No ongoing or account keeping fees, or transaction costs1
- Lock in a competitive interest rate for up to 12 months with a leading Australian bank, the Commonwealth Bank of Australia
- Works together with a Colonial First State FirstChoice account providing you the convenience of managing investments in one place
- Easy switching between FirstRate Term Deposit and other FirstChoice investment options
- Interest calculated daily and paid on the maturity date.
An investment in a FirstChoice FirstRate Term Deposit is on deposit with the Commonwealth Bank, one of Australia's leading financial institutions. For FirstChoice Investments, this means deposits up to $1 million will be government guaranteed until October 2011. For Colonial First State FirstChoice Super & Pension investors, deposits are still held with the Commonwealth Bank by the super fund (not subject to the government guarantee).
FirstRate Term Deposits are available on the Colonial First State FirstChoice platform:
* No minimum balance is required on FirstRate Term Deposits however you must maintain the FirstChoice minimum account balance of $1,000 (Investment) and $1,500 (Super).
1. FirstChoice Pension has a contribution fee of up to 4% (100% rebated when investing via 2020 DIRECTINVEST)
| Fee Disclosure | | There are no entry fees on FirstRate Term Deposits for FirstChoice Investment and Super. 2020 DIRECTINVEST will rebate 100% of the 4% entry fee on FirstRate Term Deposits for FirstChoice Pension. 2020 DIRECTINVEST may receive a trailing commission of up to 0.25% pa. This trailing commission is paid by the fund manager and is NOT an additional charge to the investor. |
| Download Product Disclosure Statement (PDS) | | Request Product Disclosure Statement (PDS) |  Also available: FirstRate Term Deposits - Super | | Also available: FirstRate Term Deposits - Pension |
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