Commonwealth Bank

About Commonwealth Bank

The Commonwealth Bank of Australia(CBA) is a multinational bank that provides services all over Asia, New Zealand, the United Kingdom, and the United States. It specialises in providing a wide range of services like institutional, retail, business banking, investment banking, insurance, funds management, and superannuation services. The CBA is the biggest bank that is listed on the Australian Securities Exchange. Initially established in 1911 by the Australian Government, it was later fully privatised in 1996. This is one of the ‘big four’ banking corporations in Australia. The headquarters of Commonwealth Bank is located in Darling Harbor, Sydney. In this piece, we will take a look at some of the details of this bank.

Services Offered by Commonwealth Bank

Given below are some of the services offered by the Commonwealth Bank of Australia:

Personal Loans

You can obtain a personal loan from Commonwealth bank for a number of different end use applications like buying a vehicle, planning a vacation, consolidating existing debt, etc. A borrower will have the freedom to choose from a fixed-rate loan, a variable-rate loan, and a secured personal loan. The interest rates for a fixed-rate loan and variable-rate loan start at 6.50% per annum, while the interest rate for a secured loan starts at 3.99% per annum. The ideal applicant can get loan amounts ranging from $4,000 to $100,000. Given below are some of the features of this loan product:

• The fixed-rate loan product allows you to stay in control of your repayments
• The variable rate loan allows the customer the flexibility to make extra repayments without additional charges
• You can use the redraw facility to redraw any available funds
• You can make up to $1,000 extra repayments per year without any additional charges

Home Loans

You can obtain a home loan from Commonwealth Bank to purchase a new home, refinance your existing home loan, or invest in a property. This loan product is available in Standard Variable Rate, Fixed Rate, and Extra Home Loan variations. The interest rates for a standard variable-rate home loan start at 4.57% per annum, 4.69% for an extra home loan product, and 5.49% per annum for a fixed-rate home loan. You can also be eligible for a $2,000 cashback for investment loans, and owner-occupied home loans. Given below are some of the features of this loan product:

• Unlimited extra repayment and redraw options are available
• Top-up options are available for this loan product
• This loan is eligible for interest rate deductions
• Borrowers have the option to split a loan offer

Types of Accounts in Commonwealth Bank

Given below are the different types of accounts available in Commonwealth Bank:

Everyday Account

These are bank accounts that are designed for the day-to-day financial needs of the customers. This comes with various world-class features that enable the customer to track and control their money. This account is made available for everyday customers, concession card holders, retirees, students, and minors under the age of 14 years old. Given below are some of the features of this bank account:

• Track, view, and pay bills
• Make recurring and easy payments
• Set up automatic payments and transfer between bank accounts
• Shop now and pay later with the Klarna application
• Lock or block your Debit Mastercard

Savings Accounts

Commonwealth Bank of Australia provides a savings account to its customers in the form of the Netbank Saver and GoalSaver accounts. The Netbank Saver account is an online savings account which offers the flexibility to transfer money to and from the linked CommBank transaction via the net banking service or mobile banking application. This account also offers a 3.50% per annum introductory rate. The GoalSaver account provides the benefit of a variable bonus rate for regular savings each month. Given below are some of the features and benefits of these accounts:

• It is a flexible way to save for a financial goal or to earn interest on savings
• This account has no minimum deposit requirements
• This is linked to your CommBank transaction account
• You earn bonus interest when you increase your savings each calendar month

Term Deposits

Now you can feel confident in your finances by knowing how much money you can earn from your savings. This deposit scheme has a lock-in competitive interest rate with tenures ranging from 1 month to 5 years. The interest rate for this investment scheme starts at 4.00 % per annum. Given below are some of the features and benefits of this deposit account:

• You can earn a fixed return on your term deposit
• You can choose from a wide range of terms and tenures that are best suited to your needs
• Balances of up to $250,000 per account holder are backed and guaranteed by the Government of Australia
• Keep a track of your investments, track, view, and manage your accounts in the NetBank application

There is a secure six-month fund-holding facility for the post-maturity period

Commonwealth Bank Opening Hours

Given below are the contact details of the Commonwealth Bank of Australia, which you can use in case of any doubts or queries:

Day of the Week	Opening Time	Closing Time
Monday	9:30 AM	4:00 PM
Tuesday	9:30 AM	4:00 PM
Wednesday	9:30 AM	4:00 PM
Thursday	9:30 AM	5:00 PM
Friday	9:30 AM	4:00 PM
Saturday	Closed	Closed
Sunday	Closed	Closed

Commonwealth Bank Contact Details

Given below are the contact details of the Commonwealth Bank of Australia, which you can use in case of any doubts or queries:

Bankstown Address	16-18 Bankstown City Plaza, Bankstown, NSW 2200
State	New South Wales
City	Bankstown
Bankstown Phone Number	(02) 8761 1962
Customer Care Number	13 2221
Phone (Commonwealth Bank Complaints Number)	1800 805 605
Commonwealth Bank head office Address	Tower 1, 201 Sussex St, Sydney NSW 2000