Your selected home loans
Competitive variable rate for refinancers
Manage your home loan through the CommBank app
Unlimited extra repayments and free redraws via CommBank app or NetBank.
Only available for refinancing, unless you have a 40% deposit (60% LVR)
Each month there’s a $10 fee, which eligible borrowers can recoup with CommBank Yello cashback
$500 in upfront fees.
If you’re a refinancer looking for a competitive rate, then CommBank’s Digi Home Loan could be one to watch.
Interest rates for owner-occupiers with a loan-to-value ratio (LVR) between 70.01% to 80% start at 5.94% p.a. (6.07% p.a. comparison rate*).
Rates for borrowers with an LVR between 60.01% to 70% are 5.92% p.a. (6.05% p.a. comparison rate*). However, borrowers refinancing to the Digi Home Loan who have 60% LVR or below may be eligible for an interest rate of 5.90% p.a. (6.03% p.a. comparison rate*).
This is a digital home loan, meaning you’ll do the bulk of your loan application and management through the CommBank app or NetBank. Those services are also where you can take advantage of this product’s unlimited extra repayments and free redraw facility.
When it comes to fees, the Digi Home Loan sits somewhere around the middle, in terms of pricing. Upfront fees will cost you about $500 ($300 application fee and $200 settlement fee) and there’s a monthly $10 loan service fee to take care of.
Eligible CommBank Yello customers could make that monthly fee back, and then some, with the Yello cashback offer (T&Cs apply). There's also a $10 monthly offset feature fee if an Everyday Offset account is linked.
Your selected home loans
The Commonwealth Bank (CommBank) offers the convenience of a vast network and robust digital banking, making it a strong contender for those prioritizing accessibility and online features. However, potential customers should be aware of reported customer service inconsistencies and the importance of understanding their fee structure. While CommBank's established reputation provides security, branch closures and the constant threat of scams necessitate vigilance. Ultimately, CommBank serves well for those comfortable with digital banking and who carefully manage their finances, but those requiring consistent, personalized in-person service may want to weigh their options.
"Commonwealth Bank Home Loans: Like a warm hug from your finances. Their app? A tech masterpiece even your grandma could navigate. Loans? Tailored to make your dream home a reality, not just a Pinterest board. The only con? You might start naming your pets after their staff—because they’re that helpful!"
have a home loan paid out in a 2 0 10 and been very happy with the loan
They're crap and rate is high, just want me to get into bad debt
They were all good until my husband had to have emergency open heart surgery and being self employed living on one casual income we could only pay $ 1000 per month he wasn’t they weren’t helpful at all
Commonwealth bank I have been over 20 years ,I find rates competitive and good rewards programs
very good. they are cheap, used them for years
Lender was great but rates are high in comparison.
They have no care for their customers. I am currently searching for a new bank. When I have had to attend an actual bank in person, the staff at Tuggeranong branch are lovely.
My mortgage broker couldnt have gone more above and beyond if she tried.
CommBank has a long history of helping people buy a home and they’re one of the largest lenders in Australia. That being said, Big Four home loans rarely offer the lowest rates in the market. But, if you’re comparing Big Four rates, CommBank are often rate leaders compared to Westpac, NAB, and ANZ interest rates.
To make use of redraws on your CommBank home loan, you can use the CommBank app, the NetBank website, talk to a representative over the phone, or visit a CBA bank branch.
On some CommBank home loans (e.g. the Digi Home Loan), redraws are free if you use their mobile application or NetBank. However, calling the bank or visiting them in-person could cost you a small fee to redraw your extra repayments.
If you apply for CommBank’s Standard Variable Rate Wealth Package, you may be able to negotiate your interest rate with one of their lending specialists.
The Commonwealth Bank only offers offset accounts on the following home loans:
* 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.
** Initial monthly repayment figures are estimates only, based on the advertised rate. You can change the loan amount and term in the input boxes at the top of this table. Rates, fees and charges and therefore the total cost of the loan may vary depending on your loan amount, loan term, and credit history. Actual repayments will depend on your individual circumstances and interest rate changes.
^See information about the Mozo Experts Choice Home Loan Awards
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