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 | < 80% | $10,000 | $10,000,000 |
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Investor | Principal & Interest | < 80% | $10,000 | $10,000,000 |
Competitive variable rates starting from 5.74% p.a. (5.65% p.a. comparison rate*) with loads of handy features and no fees - that’s what you’ll be getting with the Unloan Variable built by Commonwealth Bank. But you must be a refinancer with at least 80% LVR. You can also get annual discounts on your interest rate (T&Cs apply).
Commonwealth Bank’s new digital home loan Unloan offers competitive variable rates from 5.74% p.a. (5.65% p.a. comparison rate*) for owner occupiers looking to refinance, as long as their LVR is lower than 80%.
Meanwhile, If you’re an investor looking to refinance you can get a rate starting from 6.04% p.a. (5.95% p.a. comparison rate*) on loans up to $10 million.
The Unloan also comes with a nifty annual discount of 0.01% p.a. up to a maximum discount of 0.30% p.a. for up to 30 years.
CommBank lets borrowers make extra repayments on their loans and later access that extra money anytime with free unlimited redraws. Not only that but there are absolutely no fees attached to this loan. That’s right, no application, discharge, transaction or account keeping fees!
With both competitive interest rates and handy features, the Unloan could be a worthy option for anyone looking to refinance their home loan with a major bank.
While this loan is a CommBank loan, it is not available through CommBank’s app, branches or call centres. You'll have to apply through the official Unloan website. And as mentioned, it’s only available to refinancers with at least an 80% LVR. A loan upper limit of $10 million applies.
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5.74% 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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$0.00 |
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$0.00 |
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$0.00 |
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n/a |
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$0.00 |
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$0.00 |
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$10,000 |
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$10,000,000 |
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none |
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80.00% |
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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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none |
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yes - free |
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none |
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no |
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no |
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none |
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Rate discounted by by 0.01% every year up to a maximum discount of 0.30% |
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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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6.04% p.a. |
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n/a |
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n/a |
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n/a |
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5.95% 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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$0.00 |
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$0.00 |
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$0.00 |
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n/a |
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$0.00 |
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$0.00 |
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$10,000 |
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$10,000,000 |
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none |
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80.00% |
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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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none |
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yes - free |
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none |
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no |
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no |
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none |
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Rate discounted by by 0.01% every year up to a maximum discount of 0.30% |
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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.
Great interest rates for home loans and excellent customer service. I've switched to Unloan and never looked back. Highly recommended.
Read full reviewGreat interest rates for home loans and excellent customer service. I've switched to Unloan and never looked back. Highly recommended.
I like the fact that even though it is strictly an online platform and no physical branch, the refinance of my home loan was a fast and and easy process (as long as you are digitally capable). Instant and ongoing communication from customer service and any queries are instantly uploaded on their app and responded to efficiently. Their interest rate continues to stay lower than others even though it has had some increases since joining and the discounted yearly rate is a good incentive but it will be interesting to see if their rate stays competitive in order for the yearly discount to be worthwhile. Although initially hesitant about going digital with my home loan, I felt at ease knowing they are backed by the CBA. Not good if you aren’t digitally savvy as all transactions are done online including downloading of statements and transferring funds. Downside of downloading statements is that they can’t be exported into different formats such as excel spreadsheets. I feel the platform of the app could still be in the process of being refined as it matures considering it’s a new facility and the customers needs. Very happy with it so far!
Read full reviewI like the fact that even though it is strictly an online platform and no physical branch, the refinance of my home loan was a fast and and easy process (as long as you are digitally capable). Instant and ongoing communication from customer service and any queries are instantly uploaded on their app and responded to efficiently. Their interest rate continues to stay lower than others even though it has had some increases since joining and the discounted yearly rate is a good incentive but it will be interesting to see if their rate stays competitive in order for the yearly discount to be worthwhile. Although initially hesitant about going digital with my home loan, I felt at ease knowing they are backed by the CBA. Not good if you aren’t digitally savvy as all transactions are done online including downloading of statements and transferring funds. Downside of downloading statements is that they can’t be exported into different formats such as excel spreadsheets. I feel the platform of the app could still be in the process of being refined as it matures considering it’s a new facility and the customers needs. Very happy with it so far!
Don't waste your time! They increase rates outside of RBA rate increases. My rate has gone from 4.99% to 5.74% in 3 months. In August they put the rate up 0.15% even after RBA put rates on hold. They claim "cost of loan" as the reason but really looks squeezing the last bit of cash out of their already stressed customers to generate even more profit! After transfer fees and rate increases, I would have been better staying with my old bank. Going to have to move again and steer clear of all Commbank products.
Read full reviewDon't waste your time! They increase rates outside of RBA rate increases. My rate has gone from 4.99% to 5.74% in 3 months. In August they put the rate up 0.15% even after RBA put rates on hold. They claim "cost of loan" as the reason but really looks squeezing the last bit of cash out of their already stressed customers to generate even more profit! After transfer fees and rate increases, I would have been better staying with my old bank. Going to have to move again and steer clear of all Commbank products.
The application process is quite simple and easy, although speaking with a consultant is near impossible. They will ring you back at a time that suits them and this is very slow. The interest rates are the best in the market right now and the app is fairly easy to use but with no Bpay facility, it means we need another working account to pay bills which is inconvenient. Customer service is fast enough if you don't mind doing all your business over email, but if you need to speak to someone it's extremely frustrating.
Read full reviewThe application process is quite simple and easy, although speaking with a consultant is near impossible. They will ring you back at a time that suits them and this is very slow. The interest rates are the best in the market right now and the app is fairly easy to use but with no Bpay facility, it means we need another working account to pay bills which is inconvenient. Customer service is fast enough if you don't mind doing all your business over email, but if you need to speak to someone it's extremely frustrating.
Variable Rate Home Loan Special Offer (Package)
6.14% p.a. variable
6.51% p.a.
Mortgage Simplifier
6.14% p.a. variable
6.43% p.a.
Variable Rate Home Loan Special Offer (Package)
6.14% p.a. variable
6.51% p.a.
Variable Home Loan 90
6.24% p.a. variable
6.26% p.a.
Mortgage Simplifier
6.14% p.a.
6.43% p.a.
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.
