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Unloan Variable

Advertiser disclosure
The details shown below are for an owner occupier taking out a principal & interest loan between $10,000 and $10,000,000 with an LVR below 80%
The details shown below are for an investor taking out a principal & interest loan between $10,000 and $10,000,000 with an LVR below 80%

Choose the version of this loan that suits you best

Availability Loan type LVR Min loan amount Max loan amount
Owner Occupier Principal & Interest < 80% $10,000 $10,000,000
Investor Principal & Interest < 80% $10,000 $10,000,000
  • Owner Occupier (Principal & Interest)
    LVR < 80%
    Loan: $10,000 $10,000,000
  • Investor (Principal & Interest)
    LVR < 80%
    Loan: $10,000 $10,000,000
Rate
5.99% p.a.
Comparison Rate
5.90% p.a.
Service fee
$0.00
Upfront fee
$0
Go to site
Rate
6.29% p.a.
Comparison Rate
6.20% p.a.
Service fee
$0.00
Upfront fee
$0
Go to site

Mozo editorial review Unloan Variable - last updated: 8 April 2024

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What's hot
  • Variable rates from 5.99% p.a. (5.90% p.a. comparison rate*)
  • Rate discount annually (T&Cs apply)
  • Free extra repayments and redraws
  • Available for new lending and refinancing
What's not
  • No offset account
Mozo snapshot

Competitive variable rates starting from 5.99% p.a. (5.90% 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. The Unloan Variable home loan is now open to both new borrowers and those refinancing their existing home loan with a maximum loan-to-value ratio (LVR) of 80%. One of the big draws of financing your home purchase with Unloan is the annual interest rate discount (T&Cs apply).

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Key features

Commonwealth Bank’s new digital home loan, named Unloan, offers competitive variable rates from 5.99% p.a. (5.90% p.a. comparison rate*) for owner occupiers, as long as their LVR is lower than 80%.

Meanwhile, property investors can get a rate starting from 6.29% p.a. (6.20% 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 (T&Cs apply).

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!

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Who is it good for

With both competitive interest rates and handy features, the Unloan could be a worthy option for anyone looking for a competitive home loan with a major bank.

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Any catches

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 borrowers with 80% LVR or lower. A loan upper limit of $10 million applies. You also miss out on an offset account with this loan. 

Details

Rates and fees information correct as at 28 May 2024. 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

5.99% p.a.

n/a

n/a

n/a

5.90% p.a.

n/a

n/a

n/a

n/a

n/a

n/a

n/a

n/a

Fees

$0.00

$0.00

$0.00

$0.00

n/a

$0.00

$0.00

Other financial bits

$10,000

$10,000,000

none

80.00%

Features

Owner Occupier

Principal & Interest

Weekly, Fortnightly, Monthly

yes - free

none

yes - free

none

no

no

none

Rate discounted by by 0.01% every year up to a maximum discount of 0.30%

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 28 May 2024. 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

6.29% p.a.

n/a

n/a

n/a

6.20% p.a.

n/a

n/a

n/a

n/a

n/a

n/a

n/a

n/a

Fees

$0.00

$0.00

$0.00

$0.00

n/a

$0.00

$0.00

Other financial bits

$10,000

$10,000,000

none

80.00%

Features

Investor

Principal & Interest

Weekly, Fortnightly, Monthly

yes - free

none

yes - free

none

no

no

none

Rate discounted by by 0.01% every year up to a maximum discount of 0.30%

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.

Customer Reviews

How are Unloan home loans rated by the Mozo community?

Overall
5.9/10
Price
7.8/10
Features
5.3/10
Customer service
6.7/10
Convenience
6.8/10
Trust
6.4/10
Based on 9 Unloan home loan reviews as rated by the Mozo customers. More about the Mozo Customer Ratings.
Mozo recommends that ratings are only one factor to be taken into account when deciding whether to take up any financial product offer.

Latest reviews of Unloan Variable Home Loan

About Unloan

Thumbnail icon for Unloan
Unloan

Variable

5.99% p.a. variable

5.90% p.a.

Thumbnail icon for Macquarie
Macquarie

Basic Home Loan (Fixed)

6.25% p.a.
fixed 3 years

6.20% p.a.

Thumbnail icon for Heritage Bank
Heritage Bank

Discount Variable Home Loan

5.99% p.a. variable

6.01% p.a.

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HSBC

Home Value Loan

6.09% p.a. variable

6.09% p.a.

Thumbnail icon for Unloan
Unloan

Variable

6.29% p.a. variable

6.20% p.a.

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ANZ

Fixed Rate

6.59% p.a.
fixed 3 years

7.06% p.a.

Thumbnail icon for Macquarie
Macquarie

Basic Home Loan

6.14% p.a. variable

6.16% p.a.

Thumbnail icon for ING
ING

Mortgage Simplifier

6.14% p.a. variable

6.17% p.a.

Thumbnail icon for Unloan
Unloan

Variable

5.99% p.a. variable

5.90% p.a.

Thumbnail icon for Macquarie
Macquarie

Basic Home Loan

6.14% p.a. variable

6.16% p.a.

Thumbnail icon for Heritage Bank
Heritage Bank

Discount Variable Home Loan

5.99% p.a. variable

6.01% p.a.

Thumbnail icon for Unloan
Unloan

Variable

6.29% p.a. variable

6.20% p.a.

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ubank

Flex Home Loan

6.24% p.a. variable

6.48% p.a.

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Aussie

Elevate

6.09% p.a. variable

6.20% p.a.

Thumbnail icon for ING
ING

Fixed Rate Loan (with Orange Advantage)

5.99% p.a.
fixed 3 years

6.12% p.a.

Thumbnail icon for Macquarie
Macquarie

Offset Home Loan (Package)

6.14% p.a. variable

6.39% p.a.

Thumbnail icon for Unloan
Unloan

Variable

5.99% p.a.

5.90% p.a.

Thumbnail icon for Macquarie
Macquarie

Basic Home Loan

6.14% p.a.

6.16% p.a.

Thumbnail icon for Heritage Bank
Heritage Bank

Discount Variable Home Loan

5.99% p.a.

6.01% p.a.

Thumbnail icon for Aussie
Aussie

Elevate

6.09% p.a.

6.20% p.a.

Thumbnail icon for ING
ING

Mortgage Simplifier

6.14% p.a.

6.17% p.a.

Thumbnail icon for Macquarie
Macquarie

Offset Home Loan (Package)

6.14% p.a.

6.39% p.a.

Thumbnail icon for loans.com.au
loans.com.au

Variable Home Loan 90

6.04% p.a.

6.06% p.a.

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Bendigo Bank

Express Home Loan (Fixed)

6.04% p.a.
fixed 3 years

6.15% p.a.

Thumbnail icon for Macquarie
Macquarie

Basic Home Loan (Fixed)

6.25% p.a.
fixed 3 years

6.20% p.a.

Thumbnail icon for Bendigo Bank
Bendigo Bank

Express Home Loan (Fixed)

6.54% p.a.
fixed 3 years

6.38% p.a.

Thumbnail icon for ubank
ubank

Flex Home Loan Fixed

5.99% p.a.
fixed 3 years

6.41% p.a.

Thumbnail icon for ING
ING

Fixed Rate Loan (with Orange Advantage)

5.99% p.a.
fixed 3 years

6.12% p.a.

Thumbnail icon for Macquarie
Macquarie

Basic Home Loan (Fixed)

6.35% p.a.
fixed 3 years

6.26% p.a.

Thumbnail icon for Bendigo Bank
Bendigo Bank

Express Home Loan (Fixed)

6.54% p.a.
fixed 3 years

6.38% p.a.

Thumbnail icon for ANZ
ANZ

Fixed Rate

6.59% p.a.
fixed 3 years

7.06% p.a.

Thumbnail icon for G&C Mutual Bank
G&C Mutual Bank

First Home Buyer Loan

5.90% p.a.

5.93% p.a.

$0.00

Thumbnail icon for Community First Bank
Community First Bank

Basic Variable Home Loan

5.94% p.a.

5.99% 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.

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