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Commonwealth Bank Standard Variable Rate (Wealth Package)

Advertiser disclosure

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

  • 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

Rate
3.85% p.a.
Comparison Rate
4.27% p.a.
Service fee
$395.00 yearly
Upfront fee
$200
Rate
4.34% p.a.
Comparison Rate
4.42% p.a.
Service fee
$395.00 yearly
Upfront fee
$200
Rate
4.43% p.a.
Comparison Rate
4.84% p.a.
Service fee
$395.00 yearly
Upfront fee
$200
Rate
4.69% p.a.
Comparison Rate
4.90% p.a.
Service fee
$395.00 yearly
Upfront fee
$200

Mozo editorial review Commonwealth Bank Standard Variable Rate (Wealth Package) - last updated: 30 August 2021

binocular icon
What's hot
  • Options for borrowers with low deposits
  • Flexible features - offset account, extra repayments, redraw
What's not
  • High variable rates
  • $395 annual package fee
Mozo snapshot

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.

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Key features

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: 

  • 3.85% (4.27% comparison rate*): For owner occupiers willing to make principal and interest repayments on their loan with an LVR below 95%

  • 4.43% (4.84% 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, 2021 and have their loan funded by 31 March, 2022 can receive $2,000 cashback.

snapshot
Who is it good for

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%. 

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Any catches

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. 

Details

Rates and fees information correct as at 18 October 2021. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates

3.85% p.a.

n/a

n/a

n/a

4.27% p.a.

n/a

n/a

n/a

n/a

n/a

n/a

n/a

n/a

Fees

$0.00

n/a

$0.00

$200.00

n/a

$395.00 yearly

$350.00

Other financial bits

$150,000

none

none

95.00%

Features

Owner Occupier

Principal & Interest

Weekly, Fortnightly, Monthly

yes - free

yes

yes - free

$0.00

yes

yes

Legal fees charged at cost.

none

$2,000 cashback for refinancers who apply before 31 December 2021 and have their loan funded by 31 March 2022. 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.

Details

Rates and fees information correct as at 18 October 2021. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates

4.34% p.a.

n/a

n/a

n/a

4.42% p.a.

n/a

n/a

n/a

n/a

n/a

n/a

n/a

n/a

Fees

$0.00

n/a

$0.00

$200.00

n/a

$395.00 yearly

$350.00

Other financial bits

$150,000

none

none

80.00%

Features

Owner Occupier

Interest Only

Weekly, Fortnightly, Monthly

yes - free

yes

yes - free

$0.00

yes

yes

Legal fees charged at cost.

none

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.

Details

Rates and fees information correct as at 18 October 2021. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates

4.43% p.a.

n/a

n/a

n/a

4.84% p.a.

n/a

n/a

n/a

n/a

n/a

n/a

n/a

n/a

Fees

$0.00

n/a

$0.00

$200.00

n/a

$395.00 yearly

$350.00

Other financial bits

$150,000

none

none

90.00%

Features

Investor

Principal & Interest

Weekly, Fortnightly, Monthly

yes - free

yes

yes - free

$0.00

yes

yes

Legal fees charged at cost.

none

$2,000 cashback for refinancers who apply before 31 December 2021 and have their loan funded by 31 March 2022. 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.

Details

Rates and fees information correct as at 18 October 2021. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates

4.69% p.a.

n/a

n/a

n/a

4.90% p.a.

n/a

n/a

n/a

n/a

n/a

n/a

n/a

n/a

Fees

$0.00

n/a

$0.00

$200.00

n/a

$395.00 yearly

$350.00

Other financial bits

$150,000

none

none

90.00%

Features

Investor

Interest Only

Weekly, Fortnightly, Monthly

yes - free

yes

yes - free

$0.00

yes

yes

Legal fees charged at cost.

none

$2,000 cashback for refinancers who apply before 31 December 2021 and have their loan funded by 31 March 2022. 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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About Commonwealth Bank

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.