The details shown below are for an owner occupier taking out a principal & interest loan of at least $150,000 with an LVR below 95%
The details shown below are for an owner occupier taking out a interest only loan of at least $150,000 with an LVR below 80%
The details shown below are for an investor taking out a principal & interest loan of at least $150,000 with an LVR below 90%
The details shown below are for an investor taking out a interest only loan of at least $150,000 with an LVR below 90%
Choose the version of this loan that suits you best
| Availability | Loan type | LVR | Min loan amount | Max loan amount | |
|---|---|---|---|---|---|
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Owner Occupier | Principal & Interest | < 95% | $150,000 | |
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Owner Occupier | Interest Only | < 80% | $150,000 | |
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Investor | Principal & Interest | < 90% | $150,000 | |
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Investor | Interest Only | < 90% | $150,000 |
Owner Occupier (Principal & Interest)
LVR < 95%
Loan: $150,000
Owner Occupier (Interest Only)
LVR < 80%
Loan: $150,000
Investor (Principal & Interest)
LVR < 90%
Loan: $150,000
Investor (Interest Only)
LVR < 90%
Loan: $150,000
Complete with all the bells and whistles, the Commonwealth Bank’s Standard Variable Rate (Wealth Package) is built for owner occupiers or investors wanting access to a home loan with everything from an offset account to extra repayments and a redraw facility. And with a maximum loan-to-value ratio (LVR) requirement of <95%, it could also be an option for first home buyers with lower deposits.
The Standard Variable Rate (Wealth Package) is a packaged home loan offer from the Commonwealth Bank which is available to both owner occupiers and investors who are looking to borrow at least $150,000.
There are a few different variable rates on offer, which depend on factors such as the type of repayments you’re looking to make (principal and interest or interest-only) and your loan-to-value ratio (LVR). The lowest currently available are:
4.60% (5.00% comparison rate*): For owner occupiers willing to make principal and interest repayments on their loan with an LVR below 95%
5.18% (5.57% comparison rate*): For investors willing to make principal and interest repayments on their loan with an LVR below 90%
Aside from the interest rate there are a few other loan costs involved. The largest of these is the $395 annual package fee, but there are also one-off legal (charged at cost), settlement ($200) and discharge ($350) fees.
How about features? Well, the loan isn’t lacking here. Borrowers will have access to a full offset account, the ability to make uncapped extra repayments towards their loan and the ability to tap into additional funds via a redraw facility. There’s even an option to split the loan into variable and fixed rate portions. Repayments can be made on a weekly, fortnightly or monthly basis (you can choose the best fit for your schedule) and CBA will also let borrowers take a repayment holiday.
If you’re looking to refinance, you might also be interested in the limited time cashback offer which is available with the Standard Variable Rate (Wealth Package) loan. Eligible borrowers who make the switch by refinancing at least $250,000, apply before 31 December, 2022 and have their loan funded by 31 March, 2023 can receive $2,000 cashback.
The Commonwealth Bank’s Standard Variable Rate (Wealth Package) could be an option for owner occupiers or investors who are after a full suite of features with their home loan, or for low deposit borrowers who have a deposit below 20%.
The loan doesn’t come with the lowest rates around, so borrowers looking for a more competitive rate may want to check out the Commonwealth Bank’s Extra Home Loan or compare other variable rate mortgage options.
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4.60% p.a. |
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n/a |
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n/a |
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n/a |
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5.00% p.a. |
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n/a |
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n/a |
|
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n/a |
|
|
n/a |
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n/a |
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n/a |
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|
n/a |
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n/a |
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$0.00 |
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n/a |
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$0.00 |
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$200.00 |
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n/a |
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$395.00 yearly |
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$350.00 |
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$150,000 |
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none |
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none |
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95.00% |
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Owner Occupier |
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Principal & Interest |
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Weekly, Fortnightly, Monthly |
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yes - free |
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yes |
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yes - free |
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$0.00 |
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yes |
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yes |
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Legal fees charged at cost. |
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none |
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$2,000 cashback for refinancers who apply before 31 December 2022 and have their loan funded by 31 March 2023. Minimum refinance amount $250,000. Eligibility criteria applies. This offer is not available for Bridging 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.
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5.09% p.a. |
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n/a |
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n/a |
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n/a |
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5.17% p.a. |
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n/a |
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n/a |
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n/a |
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n/a |
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n/a |
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n/a |
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n/a |
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n/a |
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$0.00 |
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n/a |
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$0.00 |
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$200.00 |
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n/a |
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$395.00 yearly |
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$350.00 |
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$150,000 |
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none |
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none |
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80.00% |
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Owner Occupier |
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Interest Only |
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Weekly, Fortnightly, Monthly |
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yes - free |
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yes |
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yes - free |
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$0.00 |
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yes |
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yes |
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Legal fees charged at cost. |
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none |
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none |
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.
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5.18% p.a. |
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n/a |
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n/a |
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n/a |
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5.57% p.a. |
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n/a |
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n/a |
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n/a |
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n/a |
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n/a |
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n/a |
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n/a |
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n/a |
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$0.00 |
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n/a |
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$0.00 |
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$200.00 |
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n/a |
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$395.00 yearly |
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$350.00 |
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$150,000 |
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none |
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none |
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90.00% |
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Investor |
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Principal & Interest |
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Weekly, Fortnightly, Monthly |
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yes - free |
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yes |
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yes - free |
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$0.00 |
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yes |
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yes |
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Legal fees charged at cost. |
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none |
|
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$2,000 cashback for refinancers who apply before 31 December 2022 and have their loan funded by 31 March 2023. Minimum refinance amount $250,000. Eligibility criteria applies. This offer is not available for Bridging 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.
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5.44% p.a. |
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n/a |
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n/a |
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n/a |
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5.65% p.a. |
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n/a |
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n/a |
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n/a |
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n/a |
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n/a |
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n/a |
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n/a |
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n/a |
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$0.00 |
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n/a |
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$0.00 |
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$200.00 |
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n/a |
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$395.00 yearly |
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$350.00 |
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$150,000 |
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none |
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none |
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90.00% |
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Investor |
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Interest Only |
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Weekly, Fortnightly, Monthly |
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yes - free |
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yes |
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yes - free |
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$0.00 |
|
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yes |
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yes |
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|
Legal fees charged at cost. |
|
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none |
|
|
$2,000 cashback for refinancers who apply before 31 December 2022 and have their loan funded by 31 March 2023. Minimum refinance amount $250,000. Eligibility criteria applies. This offer is not available for Bridging 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.
The wealth package is somewhat deceiving as it implies that the customer will automatically receive the best interest rates as per when the loan was initiated. Unfortunately, the customer must request (on potentially more than one occassion as rates change) to receive the lowest interest rate equal to the rate advertised to new customers. This does not reward loyalty and requires continuous monitoring by the customer. Disappointing.
Read full reviewThe wealth package is somewhat deceiving as it implies that the customer will automatically receive the best interest rates as per when the loan was initiated. Unfortunately, the customer must request (on potentially more than one occassion as rates change) to receive the lowest interest rate equal to the rate advertised to new customers. This does not reward loyalty and requires continuous monitoring by the customer. Disappointing.
They are the biggest bank in Australia so there is the convenience but also in saying that the customer care factor is very low and they don't keep you up to date with new products.
Read full reviewThey are the biggest bank in Australia so there is the convenience but also in saying that the customer care factor is very low and they don't keep you up to date with new products.
Easy to deal with, but have to haggle about interesr rates, or else you wont be told.
Read full reviewEasy to deal with, but have to haggle about interesr rates, or else you wont be told.
Admittedly I use a broker to find me the best lender who will accept my application with my associates circumstances. On paper, my scenario is nothing short of messy. But CBA took me on, and when the opportunity arose to go variable with some crazy-low interest rates, it was a visit-free process with only a signature or two via email. Couldn’t be happier now that I’m kicking personal goals on my great big fat mortgage!
Read full reviewAdmittedly I use a broker to find me the best lender who will accept my application with my associates circumstances. On paper, my scenario is nothing short of messy. But CBA took me on, and when the opportunity arose to go variable with some crazy-low interest rates, it was a visit-free process with only a signature or two via email. Couldn’t be happier now that I’m kicking personal goals on my great big fat mortgage!
This bank does nothing for their customers, they have one thing in mind - make money from their customers. They immediately increase their loan interest rate when the reserve bank rate increases but delay and give a pitiful interest decrease or none at all when the reserve bank rate decreases. NO INCENTIVE TO STAY WITH THIS BANK. I would like to refinance but unfortunately I am of retiring age shortly and would find it hard to transfer my loan, despite being a very valuable customer with a good credit rating.
Read full reviewThis bank does nothing for their customers, they have one thing in mind - make money from their customers. They immediately increase their loan interest rate when the reserve bank rate increases but delay and give a pitiful interest decrease or none at all when the reserve bank rate decreases. NO INCENTIVE TO STAY WITH THIS BANK. I would like to refinance but unfortunately I am of retiring age shortly and would find it hard to transfer my loan, despite being a very valuable customer with a good credit rating.
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2.49% p.a. variable
2.49% p.a.
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Smart Booster Home Loan
2.60% p.a.variable for 24 months and then 3.00% p.a. variable
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3.83% p.a.
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2.60% p.a.variable for 24 months and then 3.00% p.a.
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Smart Booster Home Loan
2.60% p.a.variable for 24 months and then 3.00% p.a.
2.96% p.a.
$0.00
Qudos Bank
No Frills Home Loan
2.49% p.a.
2.49% p.a.
$0.00
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.
