Features

A 12 month introductory offer

We understand that buying a property could be one of the largest purchases you will ever make. To make the beginning a bit easier, we offer new customers a low introductory rate with a choice of a variable (12 Month Discounted Variable Rate) or fixed option (1 Year Guaranteed Rate) for the first 12 months.

After one year, you will automatically change over to the Standard Variable Rate, unless there’s another of our Home Loan options you’d prefer.

Home Loan Conditional Pre-approval

To search for a property knowing how much you can borrow, get conditionally pre-approved on your Home Loan that’s valid for 6 months with our Home Seeker service

Find out more about getting conditionally pre-approved.

Rate Lock (only available for 1 Year Guaranteed Rate)

When you apply for a 1 Year Guaranteed Rate loan, you should be aware that the interest rate may change during the time between your loan application and when we fund the loan.

If you want to be certain that your rate will be the same as when you first applied, you should consider our Rate Lock option. Rate Lock guarantees your fixed rate for a period of up to 90 days. It can be added to applications at anytime during the application process, but must be locked in before funding and settlement. You'll need to pay a $750 fee for each Rate Lock.

Loan Term

Once approved, you can design your loan to suit your needs. Spread your loan over 30 years to minimise your monthly repayments, or shorten the term and pay it off sooner.

Repayment Frequency

Set a repayment rate that best suits your income and your other commitments. You can make your repayments weekly, fortnightly or monthly¹.

Repayment Method

Set automatic repayments via direct debit or Automatic Funds Transfer to be deducted when it suits you, from your Debit MasterCard or Streamline Account. Or if you prefer, you can pay online, or over the phone, or in person at one of our branches.

Find out more about repayment methods.

Additional Repayments

Unlimited additional repayments can also be made to cut the term of your loan and save you thousands in interest. You can make additional repayments whenever you have extra cash to help you save money on your Home Loan.

Repayment Redraw & Repayment Holiday

For unexpected bills or even a short trip, additional repayments you have made can be withdrawn at any time with Repayment Redraw, giving you extra money when you need it².

You can also use these funds to take a Repayment Holiday. This option allows you to suspend your loan repayments for nominated periods from 3 months to 12 months, offering you flexibility during lifestyle changes such as a career break, pregnancy or parental leave.

You can withdraw funds from selected ATMs, EFTPOS or Australia Post EFTPOB terminals, as well as via NetBank, telephone banking or at any Commonwealth Bank branch, without paying any individual transaction fees³.

Interest is calculated daily

We calculate interest on a daily basis, so you'll see immediate benefits from every repayment you make.

Interest only option

If your circumstances change or you'd like to free up some cash each month for other purposes, you can reduce your loan commitments by paying only the interest amount due each month¹.

Your loan is portable

If you decide to move house you can take your loan with you (conditions and fees apply).

Find out more about moving your loan.

Loan Increase

If you’re planning renovations, want to consolidate your debts or just need extra cash, you can access additional funds by increasing your existing loan. You can only apply for a loan increase on introductory rate loans if the increase is more than 50% of the total new loan.

Find out more about increasing your loan.

 

If you would like to find out more about how these features could benefit you, simply contact our loan experts.

 

Important Information:

• 1. Interest only repayments can only be made monthly.  The interest only payment period may be for any term of 1 – 15 years for Investment Home Loans and 1 – 10 years for owner occupied Home Loans, irrespective of the fixed, guaranteed, or discounted variable rate term.
• 2. Minimum $1,000 withdrawal over the counter with a $5 redraw fee at any Commonwealth Bank branch and $500 electronically with NIL redraw fee. Redraw and Repayment Holiday are dependent on having the required amount available in special repayments (extra repayments). Repayment Holidays are also not available where there is a second or subsequent mortgage to another financial institution ranking behind the Commonwealth Bank. Applications are subject to the Bank's approval.
• 3. Excludes non-Commonwealth Bank ATMs here and overseas, transfer group payments to third parties, International Money Transfers and separate services such as bank cheques, periodic payments and transfers/deposits to other banks.
  
• Applications for finance are subject to the Bank’s normal credit approval. Full terms and conditions are included in the Loan Offer. Other fees and charges are payable.
• If you do not find a property and accept our formal loan offer within 90 days of the conditional pre-approval date, we will need to obtain from you updated financials and confirm that the loan still meets your needs and financial objectives