Is my Commercial Bill/Negotiable Certificate of Deposit with the Commonwealth Bank covered by the Government Guarantee?
A. Commercials bill sold (either directly or on safe custody) by the Commonwealth Bank are not covered by the Financial Claims Scheme or the Government Guarantee so far as it relates to Large Deposits. If you wish to purchase a short term investment that is covered by the Financial Claims Scheme or the Government Guarantee so far as it applies to Large Deposits, you may either: • Invest in a Term Deposit with the Bank and complete the ‘opt in’ application form if required; or • Purchase a government guaranteed Negotiable Certificate of Deposit (NCD). This will be subject to a minimum investment amount of $10 million and other relevant terms as agreed at the time of the investment. The cost of the guarantee will be deducted from the yield of the NCD at time of purchase.
