Commonwealth Bank home loans

Commonwealth Bank
Commonwealth Bank's overall rating for home loans

(as rated by the Mozo community)

7.3 / 10

based on 1645 reviews

Chances are you already know the Commonwealth Bank - the yellow and gold bank with a CAN-do attitude. But did you know they have roots dating back in Australia to 1912 - yep CommBank is no spring chicken! Today it’s one of Australia’s big four banks, with over 1,100 branches and 4,300 ATMs all over the country. So if you want to take out a home loan with an established bank that’s certainly not going anywhere anytime soon - you may just have found your perfect match here.

Rates and fees verified as correct at 23 February, 2018. Other information correct at the time of writing.

What home loans do Commonwealth Bank offer?

Fixed Rate Home Loans Fixed Rate Home Loans

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.

Home loan repayments calculator
years
Product Fixed 3 year rate Comparison Rate* Service fee Upfront fee Monthly repayments ‡

4.64% p.a.

5.94% p.a.

$8.00 monthly

$800

4.39% p.a.

5.56% p.a.

$8.00 monthly

$800

4.49% p.a.

5.57% p.a.

$8.00 monthly

$800

4.14% p.a.

5.08% p.a.

$8.00 monthly

$800


Hide

Variable Rate Home Loans Variable Rate Home Loans

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.

Home loan repayments calculator
years
Product Rate Comparison Rate* Service fee Upfront fee Monthly repayments ‡

4.79% p.a.fixed for 12 months and then 6.24% p.a.

6.24% p.a.

$8.00 monthly

$800

4.79% p.a.fixed for 12 months and then 5.80% p.a.

5.85% p.a.

$8.00 monthly

$800

4.39% p.a.fixed for 12 months and then 5.77% p.a.

5.78% p.a.

$8.00 monthly

$800

4.39% p.a.fixed for 12 months and then 5.22% p.a.

5.29% p.a.

$8.00 monthly

$800

5.54% p.a.variable for 12 months and then 6.24% p.a.

6.32% p.a.

$8.00 monthly

$800

5.10% p.a.variable for 12 months and then 5.80% p.a.

5.88% p.a.

$8.00 monthly

$800

5.07% p.a.variable for 12 months and then 5.77% p.a.

5.85% p.a.

$8.00 monthly

$800

4.52% p.a.variable for 12 months and then 5.22% p.a.

5.30% p.a.

$8.00 monthly

$800

5.41% p.a.variable for 36 months and then 5.78% p.a.

5.83% p.a.

$8.00 monthly

$800

4.97% p.a.variable for 36 months and then 5.34% p.a.

5.39% p.a.

$8.00 monthly

$800

4.84% p.a.variable for 36 months and then 5.31% p.a.

5.33% p.a.

$8.00 monthly

$800

4.29% p.a.variable for 36 months and then 4.76% p.a.

4.79% p.a.

$8.00 monthly

$800

5.78% p.a.

5.93% p.a.

$8.00 monthly

$800

5.34% p.a.

5.49% p.a.

$8.00 monthly

$800

5.31% p.a.

5.46% p.a.

$8.00 monthly

$800

4.76% p.a.

4.91% p.a.

$8.00 monthly

$800

5.18% p.a.

5.20% p.a.

$0.00

$200

4.44% p.a.

4.46% p.a.

$0.00

$200

4.61% p.a.

4.63% p.a.

$0.00

$200

3.99% p.a.

4.01% p.a.

$0.00

$200

5.03% p.a.variable for 24 months and then 5.44% p.a.

5.38% p.a.

$0.00

$200

4.29% p.a.variable for 24 months and then 4.70% p.a.

4.64% p.a.

$0.00

$200

4.51% p.a.variable for 24 months and then 4.97% p.a.

4.90% p.a.

$0.00

$200

3.89% p.a.variable for 24 months and then 4.35% p.a.

4.29% p.a.

$0.00

$200

4.93% p.a.variable for 48 months and then 5.44% p.a.

5.28% p.a.

$0.00

$200

4.19% p.a.variable for 48 months and then 4.70% p.a.

4.55% p.a.

$0.00

$200

4.41% p.a.variable for 48 months and then 4.97% p.a.

4.80% p.a.

$0.00

$200

3.79% p.a.variable for 48 months and then 4.35% p.a.

4.18% p.a.

$0.00

$200

5.54% p.a.

5.54% p.a.

$0.00

$0

5.10% p.a.

5.10% p.a.

$0.00

$0

5.07% p.a.

5.07% p.a.

$0.00

$0

4.52% p.a.

4.52% p.a.

$0.00

$0

6.24% p.a.

6.39% p.a.

$8.00 monthly

$800

5.80% p.a.

5.95% p.a.

$8.00 monthly

$800

5.77% p.a.

5.92% p.a.

$8.00 monthly

$800

5.22% p.a.

5.37% p.a.

$8.00 monthly

$800


Hide

Fixed Package Home Loan Fixed Package Home Loan

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%.

Home loan repayments calculator
years
Product Fixed 3 year rate Comparison Rate* Service fee Upfront fee Monthly repayments ‡

4.49% p.a.

5.78% p.a.

$395.00 yearly

$200

4.49% p.a.

5.71% p.a.

$395.00 yearly

$200

4.49% p.a.

5.64% p.a.

$395.00 yearly

$200

4.24% p.a.

5.40% p.a.

$395.00 yearly

$200

4.24% p.a.

5.33% p.a.

$395.00 yearly

$200

4.24% p.a.

5.26% p.a.

$395.00 yearly

$200

4.34% p.a.

5.41% p.a.

$395.00 yearly

$200

4.34% p.a.

5.34% p.a.

$395.00 yearly

$200

4.34% p.a.

5.26% p.a.

$395.00 yearly

$200

3.99% p.a.

4.92% p.a.

$395.00 yearly

$200

3.99% p.a.

4.85% p.a.

$395.00 yearly

$200

3.99% p.a.

4.78% p.a.

$395.00 yearly

$200


Hide

Variable Package Home Loan Variable Package Home Loan

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.

Home loan repayments calculator
years
Product Rate Comparison Rate* Service fee Upfront fee Monthly repayments ‡

5.74% p.a.

6.12% p.a.

$395.00 yearly

$200

5.64% p.a.

6.02% p.a.

$395.00 yearly

$200

5.54% p.a.

5.92% p.a.

$395.00 yearly

$200

5.30% p.a.

5.69% p.a.

$395.00 yearly

$200

5.20% p.a.

5.59% p.a.

$395.00 yearly

$200

5.10% p.a.

5.49% p.a.

$395.00 yearly

$200

5.27% p.a.

5.66% p.a.

$395.00 yearly

$200

5.17% p.a.

5.56% p.a.

$395.00 yearly

$200

5.07% p.a.

5.46% p.a.

$395.00 yearly

$200

4.72% p.a.

5.12% p.a.

$395.00 yearly

$200

4.62% p.a.

5.02% p.a.

$395.00 yearly

$200

4.52% p.a.

4.92% p.a.

$395.00 yearly

$200


Hide

Line of Credit Line of Credit

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

6.38% p.a.

n/a

$12.00 monthly

$800

Hide

Commonwealth Bank home loan features in a glance

Extra repaymentsExtra repayments

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.

Low depositLow deposit

Struggling to save up a deposit? With most Commonwealth Bank home loan options, you can borrow up to 95% of your property’s value, whether you’re an owner occupier or investor.

Flexible repayment scheduleFlexible repayment schedule

CommBank’s flexible repayment schedule allows you to match up your repayments to when you receive your salary either weekly, fortnightly or monthly.

Package discountsPackage discounts

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!

How are Commonwealth Bank home loans rated?

Now you know what we think, why not check out what real customers have to say about their experience with the Commonwealth Bank? Visit our reviews section to see how CommBank performs in everything from customer service to price.

Commonwealth Bank home loans

Overall 7.3*

Price

Features

Customer service

Convenience

Trust

1645 Reviews

* Overall rating based on reviews in the past 12 months.

Recent Commonwealth Bank home loan reviews Recent Commonwealth Bank home loan reviews

Commonwealth Bank

Commonwealth Bank Fixed Rate (Owner Occupier, Principal & Interest) (Wealth Package) home loan review

Overall rating   7 / 10

Great customer service

My impression of the bank is only as good as the local staff, so when they replace local staff with people from outside my area, the experience may change.

Full review

My impression of the bank is only as good as the local staff, so when they replace local staff with people from outside my area, the experience may change.

    Price   8 / 10

    Features   7 / 10

    Customer service   9 / 10

    Convenience   9 / 10

    Trust   8 / 10

Less

Pat (WA), reviewed 8 days ago

Commonwealth Bank

Commonwealth Bank Standard Variable Rate (Owner Occupier, Principal & Interest) home loan review

Overall rating   9 / 10

Great customer service and choice of loans

I have always had friendly helpful service from CommBank staff and they do things in a timely manner and keep you updated.

Full review

I have always had friendly helpful service from CommBank staff and they do things in a timely manner and keep you updated.

    Price   8 / 10

    Features   8 / 10

    Customer service   9 / 10

    Convenience   9 / 10

    Trust   8 / 10

Less

Jeanette (NSW), reviewed 8 days ago

Commonwealth Bank

Commonwealth Bank Standard Variable Rate (Owner Occupier, Principal & Interest) home loan review

Overall rating   8 / 10

Great bank

We have always found staff to be helpful

Full review

We have always found staff to be helpful

    Price   8 / 10

    Features   8 / 10

    Customer service   8 / 10

    Convenience   8 / 10

    Trust   8 / 10

Less

Jean (QLD), reviewed 15 days ago

Commonwealth Bank

Commonwealth Bank home loan review

Overall rating   8 / 10

Very good problem solving customer service.

Upon banking with Commonwealth Bank for years I've had a few visits into the branch to clarify certain things. Staff are always accommodating, polite and genuinely interested in your area of concern.

Full review

Upon banking with Commonwealth Bank for years I've had a few visits into the branch to clarify certain things. Staff are always accommodating, polite and genuinely interested in your area of concern.

    Price   6 / 10

    Features   7 / 10

    Customer service   8 / 10

    Convenience   9 / 10

    Trust   8 / 10

Less

Emma (NSW), reviewed 15 days ago

Commonwealth Bank

Commonwealth Bank home loan review

Overall rating   10 / 10

Comprehensive service

Very easy to deal with and great online banking

Full review

Very easy to deal with and great online banking

    Price   9 / 10

    Features   9 / 10

    Customer service   10 / 10

    Convenience   9 / 10

    Trust   9 / 10

Less

Lisa (QLD), reviewed 23 days ago

Hide reviews

Mozo may receive a payment from financial providers listed on the site. Customer reviews are in no way affected by any commercial relationships Mozo has with providers. Reviewers may receive a voucher from Mozo in exchange for their review. Vouchers are given to all reviewers who meet our review guidelines regardless of the sentiment of their reviews.

Mozo may receive a payment from financial providers listed on the site. Customer reviews are in no way affected by any commercial relationships Mozo has with providers.

What do you need to apply for a Commonwealth Bank home loan? What do you need to apply for a Commonwealth Bank home loan?

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:

  • Your personal finances, including expenses, assets and debts
  • Your employment and salary
  • The second applicant (if you’re applying with someone else)
  • The property you’re going to buy (if you’ve found it already)
Hide

‡ 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.

More helpful home loan quick links