Banking Solutions for Study in Australia
AusStudent is an individual savings account denominated in IDR and AUD for parents who will send their children to continue their study in Australia or for parents who have children who curently are studying in Australia
|-||Affordable initial deposit and fees, including free transfer fee to Commonwealth Bank of Australia (CBA) Account through the branch of Commonwealth bank of Indonesia.|
|-||Competitive interest rate in which calculated based on end of day daily balance.|
|-||Convenient transactions in more than 180,000 Debit Prima/BCA network and more than 40,000 ATM across Indonesia.|
|-||Freedom in transaction through Internet/Mobile Banking with discount for transaction fee including:|
|-||Open a CBA account for the children prior to arrival in Australia.|
|-||Free withdrawal fee at CBA ATM using the Commonwealth bank of indonesia ATM card.|
|-||Free transfer fee to CBA account*.|
|-||Special AUD Exchange Rate.|
*Free transfer is applied as long as customer fulfills the minimum average balance requirement in previous month IDR 10.000.000 and AUD 1.000. This free transfer facility is not applied for transaction through branch, through Internet Banking / Mobile Banking only applied for 3x every month.
Risk of Product
The risks attached to this savings product is the change of fees and interest rates that can be done at anytime and it will be informed to customers through branches, website or other media deemed appropriate by the Bank.
Procedures and Requirements
Opening an account can be done at the nearest Commonwealth Bank branch by completing and signing the account opening application form and providing the required documents.
|For Parents||For Children|
Fees & Charges*
|Initial deposit||IDR10.000.000,-||AUD 1.000|
|Minimum average balance||IDR5.000.000,-||AUD 500|
|Monthly administration||IDR5.000,-||AUD 0.5|
|Below minimum average balance fee||IDR50.000,-||AUD 5.0|
|Hold balance||IDR100.000,-||AUD 10|
|Stamp duty||In accordance to the prevailing regulations. Stamp duty is charged per CIF, not per account|
|Closing account fee||IDR50.000,-||AUD 8|
*Fees and Charges is subject to change and it will be informed to customers through media deemed appropriate by the Bank
If you have auto debit facility on Commonwealth Bank (for example: AutoInvest, loan installment, standing instruction, standing order, etc), please ensure that your accounts have sufficient balance to cover the monthly fees and auto debit facilities.
Interest Rate Calculation
Interest is calculated based on end of day balance according to the prevailing interest rate. Interest rate table can be accessed in here
The expiry of the product will be when customer or Bank closes the account.
This Product issued by PT Bank Commonwealth and guaranteed by Indonesia Deposit Insurance Cooperation/Lembaga Penjamin Simpanan ("LPS")***
***If the value of total deposit exceeds maximum value/if the interest rate of deposit exceeds interest rate of Indonesia Deposit Insurance Cooperation/Lembaga Penjamin Simpanan ("LPS"), deposit is not included and/or shall not be guaranteed by LPS in Deposit Insurance Scheme/Program Penjaminan Simpanan.