Group Executive, Retail Banking, Angus Sullivan said: “This is an important time to support customers as some may not have experienced an interest rate increase since they took out their loans.
“We are here to help customers who have loans and are considering how repayments might change. Some options available to help our customers manage repayments include fixing or splitting loans or setting up an offset account.”
The new home loan variable interest rates will take effect on 20 May 2022. Customers will be able to see their new interest rate in the CommBank app or online via NetBank from this date.
Where customers can access help
Customers can calculate how much their home loan repayments may increase via the home loan repayments calculator.
We have a range of support materials available for customers including tips for customers to manage their home loan in a rising rate environment.
Customers can message us in the CommBank app for a quick response or to connect with a specialist.
Customers who are falling behind or think they may fall behind with home loan repayments can message us to be connected with our Financial Assistance Solutions Team.
We also encourage customers to speak with us about how we can support them via our extensive network of lenders and brokers.