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WEALTH PACKAGE PLUS - Benefits

Benefits | Further Information | FAQ

PRODUCTS AND SERVICES SAVINGS THROUGH WEALTH PACKAGE PLUS
BANKING#
Gold Credit Card or Platinum Credit Card1
  • No annual credit card fee
      - normally $114 for a Gold Credit Card
      - normally $250 for a Platinum MasterCard
  • No additional cardholder fee (if applicable – normally $15)
Standard Variable Rate2:
  • Home Loan
  • Investment Home Loan
  • Discount on Standard Variable Rate based on holdings*:

    Discount Holdings
    0.40% p.a. $150,000 to less than $250,000
    0.50% p.a. $250,000 to less than $500,000
    0.60% p.a. $500,000 to less than $1 million
    0.70% p.a. $1 million or more
  • No upfront loan Standard Establishment Fee (normally $600)3
  • No monthly Loan Service Fees (normally $8/month)
Standard Fixed Rate4:
  • Home Loan
  • Investment Home Loan
  • 0.15% p.a. discount off Standard Fixed Rates
  • No upfront loan Standard Establishment Fee (normally $600)3
  • No monthly Loan Service Fees (normally $8/month)
6 Month Discounted Variable Rate, 12 Month Discounted Variable Rate and One Year Guaranteed Rate5:
  • Home Loan
  • Investment Home Loan
  • No upfront loan Standard Establishment Fee (normally $600)3
  • No monthly Loan Service Fees (normally $8/month)
  • At the expiry of the 6 Month Discounted Variable Rate, 12 Month Discounted Variable Rate and One Year Guaranteed Rate, the loan will receive a 0.50% p.a. discount off the relevant Standard Variable Rate
Viridian Line of Credit6
  • Residential Equity Rate
  • Viridian Reference Rate
  • Discount on Residential Equity Rate and Viridian Reference Rate based on holdings*:

    Discount Holdings
    0.40% p.a. $150,000 to less than $250,000
    0.50% p.a. $250,000 to less than $500,000
    0.60% p.a. $500,000 or more
  • No upfront loan Standard Establishment Fee (normally $600)
  • No monthly Account Service Fees (normally $12/month).
Streamline Account
  • No withdrawal or monthly account fees7
Commonwealth Portfolio Loan8
  • Discount on CommSec Variable Rate based on holdings*:

    Discount Holdings
    0.40% p.a. $150,000 to less than $250,000
    0.50% p.a. $250,000 to less than $500,000
    0.60% p.a. $500,000 or more
  • 0.15% p.a. discount off the Standard Fixed Rates
  • 50% discount off the annual fee
Personal Loan
  • 0.50% p.a off Standard Rate for loans of $10,000 or more
  • No loan Establishment Fee
BROKING
CommSec Premium Research
  • $5 discount off the monthly subscription fee for the Gold Package
INVESTMENT
Term Deposit
  • 0.25% p.a. bonus interest on selected Term Deposits9 of between $10,000 to less than $100,000 (minimum 6 month term). Special rates are available for amounts of $100,000 or more
CommSec Margin Loan8
  • 0.25% p.a. discount off Standard Fixed Rates
  • 0.25% p.a. discount off the Standard Variable Rate
Financial Planning10
  • Up to a $400 discount on a Financial Plan (Statement of Advice) prepared by a Premium Business Services Financial Adviser
Premium Business Services Relationship Manager
  • The services of a Premium Business Services Relationship Manager are available on request11
INSURANCE
CommInsure Home & Contents Insurance12
  • 10% p.a. discount off the base premium of a Prime Home or Prime Contents Policy or 15% p.a. discount off the base premium of a combined Prime Home & Contents Policy
  • An additional 1% p.a. ongoing discount for each additional property insured after the first property13
CommInsure Investment Home and Contents Insurance13
  • 5% p.a. discount off the base premium of an Investment Home Building or Contents Policy or 7.5% p.a. discount off the base premium of a combined Building & Contents Policy
  • 5% p.a. discount off the base premium on a Contents or combined Contents & Strata Title Owner's Cover Policy
  • An additional 1% p.a. ongoing discount for each additional property insured after the first property13
Loan Protection Insurance12
  • Loan Cover
  • Loan Repayment Cover
  • Loan Cover and Loan Repayment Cover
  • 5% p.a. discount on premium for new Loan Protection Insurance policies
SAVINGS AVAILABLE TO ALL COMMSEC CLIENTS
Preferred Brokerage Rates All CommSec registered clients receive Internet preferred brokerage rates when they buy or sell stocks listed on the Australian Stock Exchange through the CommSec website. Accessible only when CHESS sponsored, conducted online, and settled through a Commonwealth Direct Investment account.
 
All of these benefits are also available to your spouse or partner, any family investment company of which you are a director or family investment trust of which you are a beneficiary, except the Platinum MasterCard, Gold Credit Card and Loan Protection Insurance benefits.

# Banking products and services are offered by the Commonwealth Bank of Australia ABN 48 123 123 124.

* Holdings refers to the sum of bank deposits, investments or lending in which you are an accountholder or borrower (excluding general and life insurance premiums or policies, business accounts, family investment companies, family investment trusts and loans in which you are a guarantor) with the Commonwealth Bank Group.
   
Qualification Criteria

To qualify for Wealth Package Plus, you must have:

*Total holdings with the Commonwealth Bank Group of at least $150,000 initially and $100,000 on an ongoing basis

*To pay an annual fee of, currently, $495 (this can be paid by any Commonwealth Bank credit card or Commonwealth Bank transaction account.)

Important Information
  1. You are eligible to receive the credit card annual fee benefit and additional cardholder fee (if applicable) benefit on one of either an existing Gold Credit Card or Platinum Credit Card held in your name and in which you are the primary cardholder.
  2. Does not include One Year Guaranteed Rate Home Loans and Investment Home Loans, 6 Month Discounted Variable Rate Home Loans and Investment Home Loans, 12 Month Discounted Variable Rate Home Loans and Investment Home Loans, Economiser Home Loans and Investment Home Loans, Rate Saver Home Loans and Investment Home Loans or Low Documentation Home Loans or Investment Home Loans.
  3. The Bank will not charge any upfront establishment fees on Home Loans or Investment Home Loans under the Package. However, a deferred establishment fee may be payable if the Home Loan or Investment Home Loan is repaid in full within four years from the funding date of the loan but excluding repayment during a guaranteed interest rate period. Switching the loan, to another loan type permitted by us does not constitute repayment but a switching fee will apply.
  4. Does not include new Colonial branded Standard Fixed Rate Loans or Standard Fixed Rate Investment Home Loans sold via a broker.
  5. Does not include Economiser Home Loans or Economiser Investment Home Loans.
  6. Does not include Low Documentation Viridian Lines of Credit.
  7. Access fees apply when you use the ATMs of other financial institutions in Australia or ASB Bank in New Zealand and the overseas Cirrus/Maestro networks.
  8. Commonwealth Portfolio Loan and CommSec Margin Loan are products of Commonwealth Bank of Australia administered by its wholly owned but non-guaranteed subsidiary Commonwealth Securities Limited ABN 60 067 254 399 (CommSec).
  9. Term Deposit is offered by the Commonwealth Bank of Australia ABN 48 123 123 124. Does not apply to Term Deposit "special offers" or in conjunction with any other bonus interest offers.
  10. Premium Business Services Financial Advisers are representatives of Commonwealth Securities Limited. AFSL 238814.
  11. Subject to standard Premium Business Services qualification criteria.
  12. Insurance refers to products offered by CommInsure a registered business name of Commonwealth Insurance Limited ABN 96 067 524 216 (CIL) and The Colonial Mutual Life Association Society Limited ABN 12 004 021 809 (CMLA) both wholly owned but non-guaranteed subsidiaries of the Commonwealth Bank of Australia. Home and Contents Insurance is offered by CIL, Loan Protection is offered by CMLA. Where CommSec or Commonwealth Bank acts as an agent for CIL or CMLA, CommSec or Commonwealth Bank receive a commission from CIL or CMLA respectively. Applications for Loan Protection are subject to assessment and the settlement and funding of your loan or establishment of your line of credit facility.
  13. If more than one property is insured with CommInsure under a Prime Home Policy, or a Combined Prime Home and Contents Policy or an Investment Home Insurance Building Policy or a Combined Investment Home and Contents Policy, CommInsure will further discount the base premium for each additional Policy, after the first, by an additional 1%pa. This discount does not apply to the first policy or to policies taken out before 15 March 2002. The discount is not cumulative and is available for new business as well as renewal of policies first taken out after 15 March 2002, provided that more than one property is insured through CommInsure at any one time. If proposals for insurance are received by CommInsure at the same time for more than one property, it, at its absolute discretion, will determine which policy, if issued, will be treated as the first policy.

Where existing products can be added to Wealth Package Plus, concessions only apply from the date of inclusion in Wealth Package Plus.

Streamline Account and Term Deposits are issued by the Commonwealth Bank of Australia ABN 48 123 123 124. Product Disclosure Statements (PDSs) are available for these products by calling 13 2221 (8am - 8pm Monday to Friday) or from any branch of the Commonwealth Bank. The relevant PDS should be considered before making any decisions about these products.

Investment Home Insurance and Prime Home and Contents Insurance are issued by Commonwealth Insurance Limited ABN 96 067 524 216 a wholly-owned but non-guaranteed subsidiary of the Commonwealth Bank of Australia. Product Disclosure Statements (PDSs) are available for these products by calling 13 2423 (8am - 8pm Monday to Friday), visiting comminsure.com.au or from any branch of the Commonwealth Bank. The relevant PDS should be considered before making any decisions about these products.

Loan Protection is issued by The Colonial Mutual Life Assurance Society Limited ABN 12 004 021 809 a wholly-owned but non-guaranteed subsidiary of the Commonwealth Bank of Australia. A Product Disclosure Statement is available by calling 13 10 56, visiting comminsure.com.au or from any branch of the Commonwealth Bank. The PDS should be considered before making any decision about this product.

Applications for finance are subject to the Commonwealth Bank's normal credit approval. Full terms and conditions will be included in the Commonwealth Bank's offer of finance. Other terms and conditions are available upon application. Other fees and charges are payable.

IMPORTANT INFORMATION ABOUT ADVICE
This material has been prepared without taking account of the objectives, financial situation or needs of any particular individual. For this reason, any individual should, before acting on the information in this material, consider the appropriateness of the information, having regard to the individual's objectives, financial situation and needs and, if necessary, seek appropriate professional advice.