The Accelerator Cash Account (ACA) is a flexible cash account developed specifically for clients of Colonial Geared Investments. It is designed for investors who want convenient access to their money, a competitive interest rate and features suitable for margin lending.
Key Features and Benefits
- Competitive interest rate
- Interest is calculated daily on the entire balance and paid quarterly
- Electronic access to your account via NetBank, Telephone Banking, ATM and EFTPOS
- Cheque book option is available (subject to approval)
- One card banking – an ACA can be linked to a Commonwealth Bank Keycard, Mastercard or Visa Card
- No minimum account balance
- No minimum initial or ongoing deposit amount
- No minimum withdrawal amount
- Allows direct depositing of your investment income and salary
- Allows direct debiting to pay regular bills and make loan repayments
- Option to link an ACA to a Colonial Margin Loan or CALIA+ Margin Loan
Designed for margin lending clients
- Use your ACA as security against a Colonial Margin Loan or CALIA+ Margin Loan.
- Increase your borrowing capacity or create an additional buffer against margin calls by nominating a ‘hold’ amount over all or a portion of your ACA balance. Your account balance up to your nominated ‘hold’ amount will be included as security on your margin loan and allocated a 100% borrowing limit.
- Ideal for clients who wish to reduce their gearing level but only have a fixed loan balance.
- Only the portion of your account balance above the ‘hold’ amount will be accessible by you.
- You can request to have your ‘hold’ amount changed at any time provided your margin loan remains adequately secured.
- You can also streamline your margin loan transactions by depositing money into an ACA to earn interest, while waiting for the right time to invest.
An example of an ACA hold
For more information or to apply for an Accelerator Cash Account, please speak to your financial adviser or call us on 1800 646 151.
The Accelerator Cash Account is one of the products under the Colonial Geared Investments brand which are provided by the Commonwealth Bank of Australia ABN 48 123 123 124, administered by its wholly owned but non-guaranteed subsidiary Commonwealth Securities Limited ABN 60 067 254 399 AFSL 238814. This information has been prepared without taking account of the objectives, financial situation or needs of any particular individual. For this reason, any individual should, before acting on this information, consider the appropriateness of the information, having regard to their objectives, financial situation and needs and, if necessary, seek professional advice. Fees and charges apply. Please consider the full terms and conditions available on application.