Features

Our Equity Unlock Loan for Seniors is a unique lending option. If you're 65 years or over and own your home, take a look at the features below to see how this product can benefit you:

• Supplement your income without limiting your lifestyle or selling your home
• Access the equity in your home
• Borrow up to 45% of the value of your property subject to a maximum of $425,000 depending on your age
• Have freedom with no regular repayments as interest, fees and charges accumulate until the loan is repaid (you can however repay the loan along the way)
• Take one lump sum or simply access the funds as you need them online with NetBank, by phone, at selected ATMs, EFTPOS, Australia Post EFTPOB terminals or just drop in to any Commonwealth Bank branch
• Elect to defer repayment of the loan until you no longer live in the home
• Ensure you won’t be leaving any debt for your family with our ‘no negative equity guarantee’
• Benefit from improvements in the value of your home. We can regularly check your property's value to help you make informed decisions about your finances

• Important Information
  Applications for finance are subject to the Bank’s normal credit approval. Full terms and conditions will be included in the Loan Offer. Bank fees and charges are payable.
  
  If you choose to draw funds on a periodical basis, the full amount of the credit limit may not be available due to the capitalised effect of interest and fees.
  
  Borrowers can make withdrawals at any time provided the withdrawal does not take the debit balance beyond the approved limit.
  
  The borrower's liability is limited to the value of their interest in the property provided they have not breached any terms of, nor any warranty or representation in connection with, the loan contract.