Rates and fees verified as correct at 21 January, 2021. Other information correct at the time of writing. Advertiser disclosure.
There are a couple of fixed rate home loan options on offer from the Commonwealth Bank, depending on whether you’re an owner occupier or an investor. Fixed rate loans are available for amounts beginning at $10,000 and LVRs up to 95%. You’ll pay both a monthly service fee and an upfront application fee, so make sure you balance that out by cashing in on the flexible features, like fee free extra repayments up to the value of $10,000 p.a. and the use of a partial offset account.
| Product | Fixed 3 year rate | Comparison Rate | Service fee | Upfront fee | Monthly repayments ‡ |
|---|---|---|---|---|---|
| 3.54% p.a. | 4.43% p.a. | $8.00 monthly | $800 | ||
| 2.29% p.a. | 4.12% p.a. | $8.00 monthly | $800 | ||
| 3.04% p.a. | 4.73% p.a. | $8.00 monthly | $800 | ||
| 2.84% p.a. | 4.67% p.a. | $8.00 monthly | $800 |
CommBank offers a huge range of variable rate home loan options for homebuyers with an LVR of up to 95%, looking to borrow amounts starting at $10,000. Like the fixed rate alternative, you’ll pay both a monthly and upfront fee on a CommBank variable rate home loan - but in return, you can enjoy a host of flexible, money saving features. This includes unlimited fee free extra repayments, unlimited free redraws both online and over the counter and the full use of an offset account. Don’t like the look of those fees? There’s also a fee free option, although you won’t have the use of an offset account with this choice.
| Product | Rate | Comparison Rate | Service fee | Upfront fee | Monthly repayments ‡ |
|---|---|---|---|---|---|
| 3.25% p.a. | 2.91% p.a. | $0.00 | $200 | ||
| 2.69% p.a. | 2.70% p.a. | $0.00 | $200 | ||
| 3.13% p.a. | 3.14% p.a. | $0.00 | $200 | ||
| 5.04% p.a. | 4.88% p.a. | $8.00 monthly | $800 | ||
| 4.55% p.a. | 4.70% p.a. | $8.00 monthly | $800 | ||
| 3.68% p.a. | 3.34% p.a. | $0.00 | $200 | ||
| 3.12% p.a. | 3.13% p.a. | $0.00 | $200 | ||
| 3.71% p.a. | 3.37% p.a. | $0.00 | $200 | ||
| 3.15% p.a. | 3.16% p.a. | $0.00 | $200 | ||
| 4.10% p.a. | 3.77% p.a. | $0.00 | $200 | ||
| 3.54% p.a. | 3.55% p.a. | $0.00 | $200 | ||
| 5.39% p.a. | 5.37% p.a. | $8.00 monthly | $800 | ||
| 5.13% p.a. | 5.28% p.a. | $8.00 monthly | $800 |
Snag a fixed rate Wealth Package home loan from the Commonwealth Bank to cut back on fees and keep your wallet plump and happy. With a Wealth Package home loan, you’ll enjoy a discount on your home loan interest rates, plus the monthly and upfront fees will be waived. You can also say goodbye to fees on your other CommBank products, including a range of different credit cards and bank accounts, plus enjoy discounts on various Comminsure insurance covers. Package home loans are available for loan amounts starting from $150,000 and LVRs lower than 90%.
| Product | Fixed 3 year rate | Comparison Rate | Service fee | Upfront fee | Monthly repayments ‡ |
|---|---|---|---|---|---|
| 3.39% p.a. | 4.12% p.a. | $395.00 yearly | $200 | ||
| 2.14% p.a. | 3.83% p.a. | $395.00 yearly | $200 | ||
| 2.89% p.a. | 4.55% p.a. | $395.00 yearly | $200 | ||
| 2.69% p.a. | 4.38% p.a. | $395.00 yearly | $200 |
Like the fixed rate option, variable rate Wealth Package home loans from CommBank are available for amounts starting at $150,000 and LVRs up to 90%, plus they also come jam packed with savings. You’ll cash in on discounted interest rates on your home loan, plus discounts on car, home and loan protection insurance covers. Fees will become a distant memory, as the monthly and upfront fees are waived on your home loan, along with fees on a range of CommBank credit cards and everyday transaction accounts.
| Product | Rate | Comparison Rate | Service fee | Upfront fee | Monthly repayments ‡ |
|---|---|---|---|---|---|
| 4.34% p.a. | 4.42% p.a. | $395.00 yearly | $200 | ||
| 3.85% p.a. | 4.27% p.a. | $395.00 yearly | $200 | ||
| 4.69% p.a. | 4.90% p.a. | $395.00 yearly | $200 | ||
| 4.43% p.a. | 4.84% p.a. | $395.00 yearly | $200 |
Whether you’re renovating or buying an investment property, you can reach your goals with a line of credit home loan from the Commonwealth Bank. Available from $20,000 a CommBank line of credit home loan allows you to borrow up to 95% of your property’s value. You’ll be able to access your free redraw facility via a range of methods, including ATM, EFTPOS, debit or credit card, BPAY, online, over the telephone or in a branch. Just don’t forget that you’ll have a monthly and upfront fee to contend with.
| Product | Rate | Comparison Rate | Service fee | Upfront fee |
|---|---|---|---|---|
| 6.03% p.a. | n/a | $12.00 monthly | $800 |
WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.
‡ Results from this calculation are estimates only as individual lenders apply different formulas. Actual repayments will depend on your individual circumstances and interest rate changes.
With a CommBank home loan you can pay off your home loan faster thanks to the extra repayments facility. But keep in mind, while you can make as many additional payments as you like with its variable rate loans, extra repayments are capped at a value of $10,000 p.a with the fixed rate alternatives.
CommBank’s flexible repayment schedule allows you to match up your repayments to when you receive your salary either weekly, fortnightly or monthly.
Enjoy discounted fees on credit cards, insurance and everyday banking accounts when you bundle them with your CommBank home loan into a Wealth Package. Plus, enjoy discounted package interest rates to boot!
Mozo users have rated Commonwealth Bank home loans on price, features, convenience, trust and customer service so you can see what real Aussies have to say about their experiences.
5877 Reviews
On a whole people are told to avoid the " big 4" however my overall experience over the last 20 years with CBA has been positive. Pros: Easy access to branch, online banking, customer service Cons: Not as competitive variable rates as other banks
Read full reviewOn a whole people are told to avoid the " big 4" however my overall experience over the last 20 years with CBA has been positive. Pros: Easy access to branch, online banking, customer service Cons: Not as competitive variable rates as other banks
Very happy with my Commonwealth Bank fixed rate home loan.
Read full reviewVery happy with my Commonwealth Bank fixed rate home loan.
This Bank has been fantastic. They have great communication and are prompt with queries. Always get to speak to someone nice and helpful when required. Wouldn't change banks.
Read full reviewThis Bank has been fantastic. They have great communication and are prompt with queries. Always get to speak to someone nice and helpful when required. Wouldn't change banks.
Does not reduce interest rate with RBA cuts.
Read full reviewDoes not reduce interest rate with RBA cuts.
Is a CommBank home loan right for you? If the answer is yes, you can apply online or in branch, and you can also make an appointment to speak to a home loan specialist before you start. When you apply, make sure you have details handy about:
