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Commonwealth Bank launches special 6.99% pa home loan with $0 establishment fee

16 October 2000

In an aggressive move to maximise sales during the Spring home buying season, the Commonwealth Bank has announced a special 6.99% pa interest rate and nil establishment fee offer on its leading honeymoon home loan and investment home loan product.

The special interest rate of 6.99% pa is a discount of 1.08% pa off the Bank's Standard Variable Rate (currently 8.07% pa). The nil establishment fee also represents an upfront saving of $600 for customers.

The offer is available from 16 October 2000 for a limited period. The Bank has also retained its market leading four-year fixed home loan interest rate of 7.6% pa, introduced at the beginning of October.

General Manager, Cards and Personal Financing, Nick Kennett said: "These extremely competitive offers reflect our determination to provide customers with the most attractive deals in the market. As Australia's leading home loan provider we have the complete range of home loans, from honeymoon and 'no frills' loans to premium home loans and home equity facilities.

"The special 6.99% pa offer provides our customers with an immediate saving of $600 with an additional first year saving of $70 a month in repayments on a $100,000 loan over 25 years compared to the current standard variable rate. This should really appeal to all customers, especially first home buyers and refinancers.

"The Bank helps complete all the necessary paperwork for refinancers and first home buyers, including processing the $7000 First Home Owners Grant Scheme (FHOGS) for first home buyers to make applying for finance easier," Mr Kennett said.

For details about or to apply for a Commonwealth Bank Home Loan or Investment Home Loan call 13 2224 (8am - 10pm, 365 days a year), visit a branch or log on to the Bank's internet site at