Interest rate change notice for Accelerator Cash Account

Following on from the Reserve Bank of Australia’s (RBA) rate decision on 4 June 2019, the Commonwealth Bank Accelerator Cash Account (ACA) interest rates will be reduced.

The following changes are effective from Friday 21 June 2019:

Entity type Old rate New rate Change

Retail

1.65% p.a.

1.30% p.a.

-0.35% p.a.

Non-household

1.25% p.a.

0.90% p.a.

-0.35% p.a.

Financial Institution

1.00% p.a.

0.65% p.a.

-0.35% p.a.

Your clients will see the new interest rate reflected in the ‘Account Information' tab of their Accelerator Cash Account in NetBank and in their next account statement.

Why are ACA rates moving by more than the RBA?

The official cash rate which is managed by the RBA is only one of a number of components which are considered when pricing our products.

Other influences on the returns we are able to offer depositors include items such as the 90 day bank bill swap rate (BBSW). Changes in these other factors have put additional pressure on our ability to provide returns to depositors.

The pricing of our deposit products is something we carefully consider and we believe our rates remain competitive and at a premium above the official cash rate.

Need more information?

If you have any questions, please contact your Business Development Manager, call our Adviser Service team on 1800 252 351 (option 3) between 8.30am and 6.00pm (Sydney time), Monday to Friday or emaill AdviserCashTeam@cba.com.au.

This information has been prepared by Australian Investment Exchange Limited (Ausiex) ABN 71 076 515 930 AFSL 241400 under the brand CommSec Adviser Services (CAS). CAS is a brand of Commonwealth Bank of Australia (the Bank) ABN 48 123 123 124 AFSL and ACL 234945. Ausiex and CAS are wholly owned but non-guaranteed subsidiaries of the Bank. The Commonwealth Bank Accelerator Cash Account is a deposit product provided by the Bank and administered by CAS.

Published: 18 June 2019