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Commbank upgrades SMSF package
Commonwealth Bank has upgraded its investment loan packages for self-managed super fund (SMSF) trustees, providing more flexibility to tailor their retirement portfolios.
The enhancements to the Protected Loan offering will allow investors to pay off their protection premium upfront as part of the interest rate and choose the gearing level that suits their risk-reward profile, giving them more control over their cash flows and allowing them to optimise the after-tax cost of the loan.
Suzanne Salter, Commonwealth Bank head of structured investments, said Australians were increasingly likely to use superannuation gearing to rebuild their wealth in reaction to the reduction in the pre-tax contribution limits announced in the Federal Budget.
Enhancing its offering will help investors gain from the bank's gearing solutions, Salter said.
The Protected Loan offering is offered together with SuperGear, which is used for residential and commercial property investments.
AUTHOR
Mike Taylor
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