Sydney’s Chinese New Year Festival and Commonwealth Bank’s Term Deposit Offer
Chinese New Year is considered to be one of the most important traditional Chinese festivals. Based around the Chinese lunar calendar, the spring festival is celebrated over 15 days and includes feasts and getting together with family and friends.
As part of the Chinese festival celebrations, Commonwealth Bank are willing to help customers to earn money on their savings more easily.
Chinese Festival Term Deposit Offer
The Commonwealth Bank recognised the significance of this major celebration and have decided to offer a special deal to help celebrate Chinese New Year.
Offering a great interest per annum for an eight month term deposit, the Commonwealth Bank realise that this offer is great for anyone wanting to earn a high interest rate.
This special Chinese festival Term Deposit offer will only be available throughout the time of the celebrations, which means the offer expires on 21 February, 2010.
You don’t have to be an existing Commonwealth Bank customer to take advantage of this special offer. Simply apply online or visit any branch. Customers should ideally have between $5,000 and $95,000 to deposit in order to qualify for this special Chinese festival interest rate.
If you are already a Commonwealth Bank customer, then simply apply through your NetBank account to transfer your savings. This applies to new term deposits and also renewing term deposits.
Interest is paid at six months and again at maturity of the term deposit account and there are no set-up or application fees to worry about. Simply deposit your savings and earn a great rate of interest for the next eight months.
The idea of a term deposit is to leave your money invested safely for the entire term. This way, you earn a high rate of interest on your money. However, if you do need to withdraw your cash sooner than the end of the agreed term, you may find that fees will be charged, so it’s best to leave it until the term deposit period ends.
By investing in a term deposit account, you’re making your money work for you instead of you going to work for your money. It can be a great way to boost your savings or even generate a little extra cash flow once the interest is paid out.
No matter how you choose to celebrate Chinese New Year this year, take advantage of Commonwealth Banks Chinese Festival Term Deposit offer and make it a great year to remember.
Top High Interest Savings Accounts
All of these accounts are FREE to open and require no minimum deposit. They all have easy internet banking access with no transaction fees.
| Savings Account | Account Details | Maximum Variable Rate p.a. | Standard Variable Rate p.a. | Bonus Interest p.a. | Fees | Min Balance/Min Deposit | |
|---|---|---|---|---|---|---|---|
 Bankwest TeleNet Saver | Earn a high rate for 6 months on your savings. | 5.65% | 4.25% | 1.40% | $0 | $0 / $0 |
 
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 RaboDirect High Interest Savings Account | Limited time offer. Enjoy a leading rate on your savings. | 5.60% | 4.85% | 0.75% | $0 | $0 / $0 |
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 UBank USaver | High ongoing rate plus if you deposit $200 monthly you receive a bonus 0.60% p.a, taking this up to an even higher rate. Open online. | 5.51% | 4.91% | 0.60% | $0 | $0 / $0 |
|
 HSBC Serious Saver | Enjoy an introductory variable rate for 4 months for balances up to $1,000,000. Limited time only! | 5.55% | 4.25% | 1.30% | $0 | $0 / $0 |
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