Founding its roots in the year 1911, the Commonwealth Bank has now achieved the status of being the best Australian Bank ever known. The bank’s major central banking function began in the year 1930 but now the bank has expanded vastly in terms of network and functionality. Few of the bank’s services and products are mentioned hereby in this article.
The Commonwealth Bank of Australia offers a variety of personal and business banking services to different profiles of customers. Only the savings account has different varieties from which the customers can choose one that suits their lifestyle and spending. The Net savers savings account is an online savings account that gets you higher returns and of course, no-fee banking plus it provides you instant access to your funds online. Another savings account is the Award saver account which earns you higher profit on condition that you do not make any withdrawals in a given month.
For the under 18 group of consumers, the Commonwealth offers youth savers account which earns them profit on the basis of a regular savings plan to meet their cash needs. Other accounts that give out a handsome profit include the cash investment account; the education savings plan account, cash management account and the mortgage interest saver account. The bank also offers a range of low rate credit cards to increase your purchasing power and facilitate your cash needs. To increase your cash in hand ratio, the Bank Of Commonwealth maintains a distinct portfolio of lending products to choose from. Three categories of personal loans namely; fixed rate personal loans, variable rate personal loans and the fixed rate secured are specifically designed keeping in mind the distinct needs of customers and their lifestyles. Student loans are available to students who wish to study further and need to fund their education programs and related expenses.
Overdraft facility is also available for the clients who require credit immediately so as to protect them against any embarrassment from a third party. Not only that, auto loan facility is also extended by the Commonwealth Bank to enable customers to purchase vehicles both old and new for themselves at cheaper rate loans than offered by other banks. Buying a home for the first time or buying another is a major decision when it comes to financing the venture and therefore this bank offers different classes of home loans to suit different classes of people.
Insurance products like home insurance, travel insurance, car insurance, life insurance, small business insurance and loan protection insurance are also extended by the Commonwealth to enable customers to meet their financial needs and fund their necessities. Numerous attractive investment options await you at the bank, which ensure you the maximum returns on your investment. You can invest in terms of term deposits, managed funds and education savings plan for your children or yourself. Also, you have the option to open investment accounts with the bank so that you can readily access them when required.
The Commonwealth Bank also offers financial planning services to people who are nearing retirement or have retired and thus facilitates this segment of customers too. Students, local and overseas are also a favorite target market for the bank and thus major types of accounts are extended to the youth for their convenience.
Whatever your business and your financing needs may be, the bank offers services from setting up a business to starting operations through its business banking products. All products can be compared for rates and compatibility on the Commonwealth Bank website.
