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Commonwealth Bank Viridian Line of Credit

Rate
6.03% p.a.
Comparison Rate*
n/a
Service fee
$12.00 monthly
Upfront fee
$800

Details

Rates and fees information correct as at 12 July 2020. 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
  • 6.03% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees
  • $600.00

  • n/a

  • $0.00

  • $200.00

  • n/a

  • $12.00 monthly

  • $350.00

Other financial bits
  • $20,000

  • none

  • none

  • 80.00%

Features
  • Owner Occupier, Investor

  • No set repayments

  • No set repayments

  • n/a

  • none

  • n/a

  • none

  • yes

  • no

  • Legal fees charged at cost.

  • none

  • $2,000 cashback for refinancers who apply before 3 August 2020 and have their loan funded by 9 October 2020. Minimum refinance amount $250,000. Eligibility criteria applies.

*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.

Customer Reviews

How are Commonwealth Bank home loans rated by the Mozo community?

Overall customer rating
6.8/10
Price
6.3/10
Features
6.3/10
Customer service
7.0/10
Convenience
7.9/10
Trust
6.7/10

Latest reviews of Commonwealth Bank Viridian Line of Credit

  • Overall 6/10
    Opportunity for improved rate consistency on VLOCs

    Commonwealth Bank's products are generally very good, and the bank has responded admirably to the Covid crisis, reducing rates and supporting customers in need. The interest rate on our VLOC product has not dropped however (interest rate 5.12%) even though the debt is recoverable against our family home (and normal home loan rates have dropped). Otherwise, the VLOC is excellent for providing flexibility.

    Read full review

    Commonwealth Bank's products are generally very good, and the bank has responded admirably to the Covid crisis, reducing rates and supporting customers in need. The interest rate on our VLOC product has not dropped however (interest rate 5.12%) even though the debt is recoverable against our family home (and normal home loan rates have dropped). Otherwise, the VLOC is excellent for providing flexibility.

    Price
    3/10
    Features
    6/10
    Customer service
    9/10
    Convenience
    10/10
    Trust
    8/10
    Less
    Duncan, New South Wales reviewed 20 days ago
  • Overall 10/10
    Very helpful with information over the phone.

    Line of credit suits our needs as we are self employed. Great service when we have needed their assistance.

    Read full review

    Line of credit suits our needs as we are self employed. Great service when we have needed their assistance.

    Price
    7/10
    Features
    -1/10
    Customer service
    9/10
    Convenience
    10/10
    Trust
    10/10
    Less
    Debbi, Victoria reviewed 7 months ago
  • Overall 4/10
    Very average Bank

    They are quite inefficient in some dealings. Interest rate is pathetic and the monthly fee is ridiculous. They have totally lost consumer confidence as a result of the Banking Royal Commission.

    Read full review

    They are quite inefficient in some dealings. Interest rate is pathetic and the monthly fee is ridiculous. They have totally lost consumer confidence as a result of the Banking Royal Commission.

    Price
    5/10
    Features
    2/10
    Customer service
    1/10
    Convenience
    10/10
    Trust
    2/10
    Less
    Denise, New South Wales reviewed over 1 year ago
  • Overall 8/10
    Very good customer service with good communication

    Pros: big bank, plenty of branches, with hi tech online banking.

    Read full review

    Pros: big bank, plenty of branches, with hi tech online banking.

    Price
    4/10
    Features
    2/10
    Customer service
    8/10
    Convenience
    10/10
    Trust
    10/10
    Less
    Tracy, New South Wales reviewed about 4 years ago
  • Overall 6/10
    Not good for the casually employed

    As a casually employed person I felt the bank did not have confidence in my ability to support my mortgage however I have been able to do that without their help. I had to borrow for a car else where as my insecure employment meant the Commonwealth bank did not want to lend me the money. Their lack of confidence in me has eroded my loyalty to them.

    Read full review

    As a casually employed person I felt the bank did not have confidence in my ability to support my mortgage however I have been able to do that without their help. I had to borrow for a car else where as my insecure employment meant the Commonwealth bank did not want to lend me the money. Their lack of confidence in me has eroded my loyalty to them.

    Price
    3/10
    Features
    3/10
    Customer service
    6/10
    Convenience
    8/10
    Trust
    5/10
    Less
    Jayne, Victoria reviewed over 4 years ago
Commonwealth Bank

About Commonwealth Bank

The Commonwealth Bank might be one of Australia's oldest and largest banks, but lately it's determined to do things differently. The Commonwealth Bank reckons it's focusing more on customer service and earning your business rather than counting on it. If you like the sound of that, then check out the Commonwealth Bank's wide range of personal banking products, including term deposits, savings accounts, credit cards, home loans and personal loans.

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fixed 3 years

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2.59% p.a.

2.59% p.a.

$0.00

Promoted

People's Choice Credit Union

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2.69% p.a.

2.69% p.a.

$0.00

Promoted

Yard

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Variable Home Loan Winter Special

2.39% p.a.

2.42% p.a.

$0.00

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Newcastle Permanent

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Variable Home Loan (Premium Plus Package)

2.94% p.a.

3.34% p.a.

$395.00 yearly

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Suncorp

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Back to Basics

2.78% p.a.

2.79% p.a.

$0.00

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Star Essentials Home Loan

2.39% p.a.

2.39% p.a.

$0.00

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2.59% p.a.

2.55% 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.