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 5.99% 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).
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!
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.
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.
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5.99% p.a. |
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n/a |
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n/a |
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n/a |
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5.90% 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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6.29% p.a. |
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n/a |
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n/a |
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n/a |
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6.20% 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.
The app is easy to use for transferring money in and out of mortgage account. The rates are competitive in the mortgage market. I haven’t experienced any negatives having my mortgage with Unloan. Customer service is good also.
Read full reviewThe app is easy to use for transferring money in and out of mortgage account. The rates are competitive in the mortgage market. I haven’t experienced any negatives having my mortgage with Unloan. Customer service is good also.
Quick and easy, very simplistic to swop over. App can improve to reflect true withdrawal amounts allowed. Overall happy with my transition and comparison rate.
Read full reviewQuick and easy, very simplistic to swop over. App can improve to reflect true withdrawal amounts allowed. Overall happy with my transition and comparison rate.
Advised at time of borrowing that I would require access to more of my equity in future, advised it wasn't an issue. Went to increase loan a month after refinancing with them and they don't do it. After many communications was advised only way to get access to any of my $800k in equity was to refinance elsewhere. Firstly that's going to cost me a lot in fees and secondly virtually no lenders will refinance if within first three months with current provider even though I've had a mortgage for 17 years. So they are happy to refinance other lenders loans but not their own. Brokers have advised me they have seen this a bit and don't advise going with unloan if you want access to your equity in your house in the future.
Read full reviewAdvised at time of borrowing that I would require access to more of my equity in future, advised it wasn't an issue. Went to increase loan a month after refinancing with them and they don't do it. After many communications was advised only way to get access to any of my $800k in equity was to refinance elsewhere. Firstly that's going to cost me a lot in fees and secondly virtually no lenders will refinance if within first three months with current provider even though I've had a mortgage for 17 years. So they are happy to refinance other lenders loans but not their own. Brokers have advised me they have seen this a bit and don't advise going with unloan if you want access to your equity in your house in the future.
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!
Home Value Loan
6.09% p.a. variable
6.09% p.a.
Fixed Rate
6.59% p.a.
fixed 3 years
7.06% p.a.
Mortgage Simplifier
6.14% p.a. variable
6.17% p.a.
Flex Home Loan
6.24% p.a. variable
6.48% p.a.
Elevate
6.09% p.a. variable
6.20% p.a.
SMSF Home Loan (Variable)
6.99% p.a. variable
7.00% p.a.
Fixed Rate Loan (with Orange Advantage)
5.99% p.a.
fixed 3 years
6.12% p.a.
Elevate
6.09% p.a.
6.20% p.a.
Mortgage Simplifier
6.14% p.a.
6.17% p.a.
Flex Home Loan Fixed
5.99% p.a.
fixed 3 years
6.41% p.a.
Fixed Rate Loan (with Orange Advantage)
5.99% p.a.
fixed 3 years
6.12% p.a.
Fixed Rate
6.59% p.a.
fixed 3 years
7.06% p.a.
Flex Home Loan Fixed
5.99% p.a.
fixed 3 years
6.41% p.a.
First Home Buyer Loan
5.90% p.a.
5.93% p.a.
$0.00
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.
