The flexibility that CALIA+ offers can allow you structure your facility to suit your individual needs. It permits up to 12 separate sub-accounts, allowing you to create and individually manage loans that have been established for different purposes. For example, you may wish to establish sub-accounts for your home loan, investment property loan, personal loans and your share/managed fund investment loan. Creating various loans based on their purpose will allow you to separate your tax-deductible loans from your non-deductible loans. This makes managing your tax affairs simple and it will also allow you to monitor the repayment and progress of each loan.
What makes CALIA+ truly unique is that each sub-account you establish within the Bundle will share the same common security being your home and/or investment properties. We can lend up to 80% of the value of a residential, rural or vacant property, however the amount we will lend you is subject to our normal credit assessment criteria. You then have the flexibility to nominate the credit limit for each sub-account you establish up to the amount you have been approved for (the Bundle Limit).
Typical structure of CALIA+
Example
Add a CALIA+ Margin Loan
The CALIA+ Margin Loan is generally operated as a standalone sub-account and is secured by your share and managed fund investments rather than your property assets. However, any surplus equity in your properties not used to secure your CALIA+ variable and fixed sub-accounts may also be transferred to a CALIA+ Margin Loan as security.
Example
CALIA+ is one of the products available under the Colonial Geared Investments brand, and is provided by Commonwealth Bank of Australia ABN 48 123 123 124 AFSL 234945 (‘Bank’). The Bank’s wholly owned but non-guaranteed subsidiary Commonwealth Securities Limited ABN 60 067 254 399 AFSL 238814, a Participant of the ASX Group, only administers the Margin Loan Sub-accounts within CALIA+. 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. Applications are subject to credit approval. Fees and charges apply. Please consider the full terms and conditions available on application. Only investors who fully understand the risks associated with gearing into investments should apply.