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Closure of FirstRate Term Deposits Investment Options in FirstChoice Investments

Investment options are regularly reviewed to ensure they continue to meet member needs and deliver value for money.

Following a recent review of investment options, a decision has been made to close the investment options listed in the table below.

Product Investment option
FirstChoice Wholesale Investments
FirstRate Wholesale Term Deposits
FirstChoice Investments 

FirstRate Term Deposits 

New applications received from 13 April 2021 in respect to the investment options will not be processed.

How will this impact me?

To allow members sufficient time to decide the most effective way to allocate their money, the closure of the investment options will happen in stages.

Product Investment option Stages Key dates

FirstChoice Investments

FirstChoice Wholesale Investments

FirstRate Term Deposits No new accounts in FirstRate Term Deposits will be available    13 April 2021

*If the member is not invested in the FirstRate Saver option, we’re required to transfer the members’ money to a FirstRate Saver for the closure.

We’re here to help

If you would like more information regarding this closure, please speak to your financial adviser or call us on 13 13 36, Monday to Friday, 8am to 7pm, Sydney time.

Colonial First State Investments Limited ABN 98 002 348 352, AFSL232468 (Colonial First State) is the issuer of FirstChoice Wholesale Investments and FirstChoice Investments. Commonwealth Bank of Australia ABN 48 123 123 124, AFSL234945 (the Bank) is the issuer, and Colonial First State is the administrator, of FirstRate Saver and FirstRate Term Deposits. Colonial First State is a wholly owned subsidiary of the Bank. The Bank and its subsidiaries do not guarantee the performance of FirstChoice or the repayment of capital by FirstChoice. This document may include general advice but does not take into account your individual objectives, financial situation or needs. You should read the relevant Product Disclosure Statement (PDS) and Financial Services Guide (FSG) carefully, assess whether the information is appropriate for you, and consider talking to a financial adviser before making an investment decision. The PDS and FSG can be obtained from or by calling us on 13 13 36.