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Increases to FirstRate interest rates

Increases to FirstRate interest rates

 

Increased interest rates on the FirstRate Saver, FirstRate Cash Non-Auto Rebalancing and FirstRate Term Deposits on FirstChoice help you deliver more value to your clients. We’ve also negotiated with our term deposit provider (Commonwealth Bank of Australia) to introduce a special rate of 2.25%p.a. on two year term deposits.

FirstRate Term Deposit interest rate changes overview

FirstRate investment option Previous rate (p.a) New rate1 (p.a.) Change
Saver 0.45% 1.00% +0.55%
Cash Non-Auto Rebalancing2 0.45% 1.00% +0.55%
3 month Term Deposit 0.01% 0.15% +0.14%
6 month Term Deposit 0.14% 0.30% +0.16%
9 month Term Deposit 0.29% 0.45% +0.16%
12 month Term Deposit 0.49% 0.65% +0.16%
2 year Term Deposit3 0.83% 2.25% +1.42%
3 year Term Deposit3 1.33% 1.50% +0.17%
5 year Term Deposit3 1.83% 2.00% +0.17%
7 year Term Deposit3 1.83% 1.83% No change
10 year Term Deposit3 1.83% 1.83% No change
15 year Term Deposit3 1.83% 1.83% No change

1 This interest rate does not include a deduction for the tax payable by the super fund on earnings, currently up to 15%. For example, if the interest rate quoted above is 1.00%, your investment should earn at least 0.85%.

2 Investment option available in FirstChoice Wholesale Pension only.

Rate for both annual and monthly payment options.

Interest rates are usually updated weekly on a Monday, and are subject to change without notice. The rate received on a new term deposit at maturity may vary from current interest rates.

We’re here to help

If you have any questions, please speak to your local Business Development team or call Adviser Services on 13 18 36 Monday to Friday 8am-7pm Sydney time.

Adviser use only

Avanteos Investments Limited ABN 20 096 259 979, AFSL 245531 (AIL) is the trustee of the Colonial First State FirstChoice Superannuation Trust ABN 26 458 298 557 and issuer of FirstChoice range of super and pension products. This document is based on current requirements and laws as at June 2022. While all care has been taken in preparing the information contained in this report (using reliable and accurate sources), to the extent permitted by law, no one including AIL, nor any related parties, their employees or directors, accept responsibility for loss suffered by anyone from reliance on this information. This document provides general information for the adviser only and is not to be handed to any investor. It doesn‘t take into account anyone’s individual objectives, financial situation, needs or tax circumstances. You should read the relevant Product Disclosure Statement (PDS) and Financial Services Guide (FSG) before making any recommendations to a client. The PDS and FSG can be obtained from www.cfs.com.au or by calling us on 13 18 36.

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