CommBank Spreads, leverage, minimum deposit Revealed

CommBank Information

　　CommBank was founded in 1911 with its headquarters in Sydney, Australia. As one of the “Big Four Banks” in Australia, its business scope covers retail banking, commercial banking, investment, insurance, superannuation, etc. It is suitable for individual and corporate clients who value local services and pursue stability, especially in home loans, superannuation, and daily financial management.

Pros and Cons

Is CommBank Legit?

　　CommBank is an old-established bank with a long history in Australia. It is strictly regulated by APRA and is a member of the Australian Financial Claims Scheme. The Australian Securities and Investments Commission (ASIC) regulates this bank, and its license number is 000234945. Therefore, deposit security is guaranteed.

What Services Does CommBank Offer?

　　The types of investment transactions include the following four categories:

　　Australian Stocks (ASX): Trade over 2,000 Australian stocks through the CommSec platform. The minimum first trade is $500, and subsequent trades start at $100.

　　Exchange-Traded Funds (ETFs): Pocket ETFs offer 10+ themed ETFs (e.g., technology, healthcare) with a minimum investment of $50. Commission is $2 per trade (for trades ≤ $1,000) or 0.2% (for trades > $1,000).

　　Superannuation: Provided by Colonial First State, products like Essential Super have fees 15% lower than the industry average.

1. Term Deposits and Savings Accounts: A limited-time interest rate of 4.05% is offered for 9-month business investment accounts, while ordinary savings account rates fluctuate with the market.

Account Type

　　Personal Accounts

　　Business Accounts

　　CommBank offers a Business Transaction Account suitable for small businesses, with a $0 monthly fee and requiring ASIC verification. Additionally, users can choose business loan accounts such as the Better Business Loan (unsecured small loan) and vehicle and equipment financing.

CommBank Fees

Leverage

　　For CommBank home loan leverage, the maximum loan amount can be 80% of the property value (LVR ≤ 80%).

Trading Platform

Deposit and Withdrawal

Bonus

　　CommBank's new customer rewards include: opening a designated transaction account and completing transactions to receive a $200 cash bonus (limited-time offer); new home loan customers can enjoy a $699 conveyancing discount (via the Home-in service).

　　Additionally, investors can access loyalty rewards such as the CommBank Yello program, which offers points, cashback (e.g., up to $40 monthly cashback on home loans), and service discounts. Credit card spending accumulates CommBank Awards points, which can be redeemed for gift cards or Qantas frequent flyer miles.