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7.01%variable
7.16%
$8.00Monthly
$800
The Commonwealth Bank might be one of Australia’s oldest and largest banks, but lately it’s determined to do things differently. The Commonwealth Bank reckons it’s focusing more on customer service and earning your business rather than counting on it. If you like the sound of that, then check out the Commonwealth Bank’s wide range of personal banking products, including term deposits, savings accounts, credit cards, home loans and personal loans.
| Product Type | Overall | Price | Features | Service | Convenience | Trust |
|---|---|---|---|---|---|---|
| Commonwealth Bank home loans |
6.4
Based on 718 Commonwealth Bank home loan reviews |
5.9 | 5.9 | 6.6 | 7.7 | 6.3 |
Read Commonwealth Bank home loan reviews by the Mozo community
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Good rates, excellent customer service
Great, friendly service. Go out of their way to get the best deal for you. Help you in any way they can to extend your loan or pay it off quicker. Full review
Great, friendly service. Go out of their way to get the best deal for you. Help you in any way they can to extend your loan or pay it off quicker.
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Standard rates, poor customer service
With a larger than normal homeloan the bank is unreceptive to any additional benefits it provides customers. We have to chase our banker to get all the documents and when we did get them we were also told a number of diffferent stories as to why w... Full review
With a larger than normal homeloan the bank is unreceptive to any additional benefits it provides customers. We have to chase our banker to get all the documents and when we did get them we were also told a number of diffferent stories as to why we had not received them in the first place. The day before we were meant to move into our new house, CBA had forgotten to request a valuation and hence we had no house to move into and had to stay at a hotel for a week and put all our stuff in storage as they would not process the final payment without the valuation. As a long standing customer of CBA l would not recommend them at all and am consistently looking for a better option.
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Competitive rates but do your research first
You should always try and get the best deal and do your homework around the type of loan so that they don't sell you short. We have a home loan and investment loan, the mortgage manager for the home loan was great however we had many issues with t... Full review
You should always try and get the best deal and do your homework around the type of loan so that they don't sell you short. We have a home loan and investment loan, the mortgage manager for the home loan was great however we had many issues with the investment loan. Lack of communication and unable to contact the mortgage manager on many ocassions. We were given a bit of a bad deal as we were building and got stuck in the end having to use our own funds to finish the property. The mortgage manager had advised us not to get quotes for a driveway, landscapping, and heating/cooling and to instead apply for a top up on the loan once construction had been completed, as this was the easiest way. We learnt afterwards that it was the easiest way for the bank and they would gain extra fees and charges from us by us doiing it this way. It didn't however work out that way as we were left not being able to borrow the full amount required and had to resort to using our own funds to complete the property. We are still with the bank, however once we are in a financially better position we will be looking for a better deal or negotiating with the bank to give us a better deal with our current mortgages.
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Bad Experience
Approached bank to extend mortgage and was told not to go with other establishments due to their credit rating (does not matter if you are borrowing money from them) and when we changed over to ANZ they then magically realised they had made a mist... Full review
Approached bank to extend mortgage and was told not to go with other establishments due to their credit rating (does not matter if you are borrowing money from them) and when we changed over to ANZ they then magically realised they had made a mistake and offered what we were after but it was too late so they then dragged the chain with exchange to ANZ so they could get a few measly dollars from us in interest.
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Always find staff at branches more than helpful
We have had a bad experience with dealing with telephone staff not only is there a long waiting time before you get to speak with a person and never the same person also told something different each time. We ask for help on an existing home loan... Full review
We have had a bad experience with dealing with telephone staff not only is there a long waiting time before you get to speak with a person and never the same person also told something different each time. We ask for help on an existing home loan only to be made to feel like dishonourable people and speaking with young people who had no idea we as mature people were about to lose our life's assets through no fault of our own.
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Good product but great customer service!
We took this option from advice from a mortgage broker, but met with a person from the bank and they explained everything and were happy to show us how each component of the package worked! We asked lots of questions and walked away feeling infor... Full review
We took this option from advice from a mortgage broker, but met with a person from the bank and they explained everything and were happy to show us how each component of the package worked! We asked lots of questions and walked away feeling informed.
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I feel safe
I feel safe with such a big bank. They offer good deals and are willing to help in anyway. I love being able to do all my banking online, for conveinence and time management. I would like my bank and all others, to pass on cuts in interest rate as... Full review
I feel safe with such a big bank. They offer good deals and are willing to help in anyway. I love being able to do all my banking online, for conveinence and time management. I would like my bank and all others, to pass on cuts in interest rate as fast as they put it up? Also, we should go back to whole percentages, not quarters and halves.
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great rates fantastic customer service
The commonwealth bank loans personell were extremely helpful both in the initial set up and right through. Whenever we have had a problem with a payment being late etc. the bank has been really helpful and organised payment options they have suppo... Full review
The commonwealth bank loans personell were extremely helpful both in the initial set up and right through. Whenever we have had a problem with a payment being late etc. the bank has been really helpful and organised payment options they have supported us from the start and always. Very friendly and informative.
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Rates not so good but great customer service
It is too important an issue for me to recommend any bank, I would suggest that they shop around between all the banks and credit unions for the best possible deal Full review
It is too important an issue for me to recommend any bank, I would suggest that they shop around between all the banks and credit unions for the best possible deal
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Understanding and not judgemental
We are a single income household and my hubby works is controlled by the weather so we have the luxury of being able to contact the bank. If we are unable to pay for that week, they are very understanding and no questions asked so we then don't fe... Full review
We are a single income household and my hubby works is controlled by the weather so we have the luxury of being able to contact the bank. If we are unable to pay for that week, they are very understanding and no questions asked so we then don't feel embarrassed
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Helped me save money
When taking out my home loan, I never even had to meet someone at the bank, with the click of a few emails all was set up and away we went. When all the papers were posted and signed the bank has continued to be of great assistance, always trying ... Full review
When taking out my home loan, I never even had to meet someone at the bank, with the click of a few emails all was set up and away we went. When all the papers were posted and signed the bank has continued to be of great assistance, always trying to help me save more money and work around the fees.
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Great customer service
The Wealth Package for home loans is a fantastic way of saving money and consolidating all accounts with your home loan Full review
The Wealth Package for home loans is a fantastic way of saving money and consolidating all accounts with your home loan
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Customer service is becoming a thing of the past.
Like most of the big 4 banks, once they get you in the door and signed up they really don't care about after service....and then all of a sudden all these new fees and charges start appearing because of things happening overseas..... Someone need... Full review
Like most of the big 4 banks, once they get you in the door and signed up they really don't care about after service....and then all of a sudden all these new fees and charges start appearing because of things happening overseas..... Someone needs to point out to these banks This Is Australia and we should be self sufficient with everything from Finance to Industry.
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Considerate and helpful
I would like for a check book to be included in the package. I love that they wave atm charges for home loan customers. Secure and accessible. Nice people for customer service. Generous principals in not raising interest rates with ANZ and followers. Full review
I would like for a check book to be included in the package. I love that they wave atm charges for home loan customers. Secure and accessible. Nice people for customer service. Generous principals in not raising interest rates with ANZ and followers.
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High rates and too many fees
Fees are higher than they should be and the interest rates are also too high when compared to the RBA. Banks are making massive profits but continue to hit everyday Australians with higher than needed interest rates on home loans. Full review
Fees are higher than they should be and the interest rates are also too high when compared to the RBA. Banks are making massive profits but continue to hit everyday Australians with higher than needed interest rates on home loans.
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Customer service only when you ask..
I gave an overall rating of 5 due to the fact that I hate CBA always charging a higher interest rates than other banks. If it wasn't such a hassle, I would be changing banks. Full review
I gave an overall rating of 5 due to the fact that I hate CBA always charging a higher interest rates than other banks. If it wasn't such a hassle, I would be changing banks.
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Easy and fast customer service
CBA Home Loan - Wealth package has been working well for us. We have been able to refinance on various occasions and being the Wealth Package we have a slight interest rate discount. In the scheme of things though, we are still in debt and would l... Full review
CBA Home Loan - Wealth package has been working well for us. We have been able to refinance on various occasions and being the Wealth Package we have a slight interest rate discount. In the scheme of things though, we are still in debt and would love not to be. I suppose you have to spend money to, hopefully one day, make money.
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Good Rates and Excellent Flexibility
I find the rates on my professional package very competitive and the structure of my loan makes redraw very easy, Full review
I find the rates on my professional package very competitive and the structure of my loan makes redraw very easy,
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Excellent customer service
The product is flexible enough for me to monitor and find ways on how to reduce my home loan time lines and reduce cost of interest. The managers are very helpful in doing home loan health checks. Full review
The product is flexible enough for me to monitor and find ways on how to reduce my home loan time lines and reduce cost of interest. The managers are very helpful in doing home loan health checks.
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Good rates, efficient and easy to deal with
We arranged a home loan through the commonwealth bank and they were quick, efficient and professional. Everything seemed so easy and with a new baby in the house- we couldn't have asked for better service. Now we can't wait to move into our new home! Full review
We arranged a home loan through the commonwealth bank and they were quick, efficient and professional. Everything seemed so easy and with a new baby in the house- we couldn't have asked for better service. Now we can't wait to move into our new home!
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Yes*The Comparison Rate combines the lender's interest rate, fees and charges into a single rate to show the true cost of a home loan, based on the loan amount and loan term you entered. Fixed rate loans assume a 3 year fixed term. Different amounts and terms will result in different comparison rates. Full comparison rate schedules are available from lenders. Costs such as redraw fees or early repayment fees, and savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.
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