Commonwealth Bank Spring fever home loan specials

1 September 2002

The Commonwealth Bank has launched a Spring Home Loan campaign with introductory rates from 5.29%pa and a current market leading 6.49%pa three year fixed rate loan to meet the full range of home buyer, renovator and investor needs. The Bank also has added automated repayment redraw and MISA interest offset facilities.

Executive General Manager Retail Customer Services, Nick Kennett said demand for home loans typically increased in Spring but this year the Bank was discerning more than the 'traditional' interest. "Clients have been seeking loans for a wider range of purposes with a clear direction towards using their home loan to help create wealth. Customers are either looking to build equity or to use the equity that already exists in their home. For example, demand for lifestyle and investment purposes has been increasing, especially through more flexible products such as lines of credit."

Mr Kennett said the Bank’s Spring offers reflected this trend. "We have focused on helping people to minimise initial and ongoing loan costs, to maximise their wealth creation and enhance their lifestyle by building and using the equity in their property".

"Accompanying this is a new feature that allows automated access to interest offset and repayment redraw facilities. Clients are telling us that ready access to funds at attractive mortgage rates is ideal for taking advantage of wealth and lifestyle opportunities, and supports long term financial plans," said Mr Kennett.

During its Spring Special Home Loan offer period, the Bank has introduced new benefits, including:

  • savings of up to $600 on the standard establishment fee for the most popular introductory rates, the 1 Year Guaranteed Rate and 12 Month Discounted Variable Rate home loans and the market leading 6.49%pa 3-year fixed rate loan, and
  • a $0 establishment fee for all new Viridian Line of Credit loans and a lower entry minimum of $20,000.

The lower minimum entry for Viridian has been introduced to cater for a growing market of clients who wish to combine a traditional home loan and a revolving Viridian Line of Credit.

The Spring special offers are available for a limited time and are effective from Monday 2nd September for new loans.

"These offers can benefit all borrowers, whether they are first home buyers, investors, renovators or people seeking lifestyle improvements," Mr Kennett said.

For details or to apply, call 13 2224 (8am - 10pm, 365 days a year), visit a branch or log on to the Bank’s internet site at