Save with our low Extra Home Loan

  • 2.44 % PA
    Variable interest rate (with discount margin offer)
  • 2.45 % PA
    Comparison rate*
  • Get a discount for the life of your loan

    For new borrowings with a Loan to Value ratio of 70% or less. The rates shown are for Principal and Interest repayments (Owner Occupied) with current discount margin offer. Product discount margin on Extra Home Loans may vary from time to time and is determined by CommBank based on campaign offers at time of loan contract. Minimum new borrowings of $10,000. Comparison rate warning

    More about Extra Home Loan

$2,000 cashback when you switch your home loan to us^

The cashback is available on the following loans:

  • Owner occupied home loans
  • All investment loans

Apply by 31 December 2022 and have your loan funded by 31 March 2023. Minimum refinance amount $250,000. Not available for Bridging Loans. Limit of one $2,000 cashback per borrowing entity and per customer over a 12 month period.

Tell me about cashback

Family enjoying loan refinance cashback

Why refinance with CommBank?

  • Get more out of your home loan: 

    • Refinance and save with one of our competitive Fixed Rate or Standard Variable Rate home loans.
    • Enjoy discounts with our Wealth Package, saving money to pay off your loan sooner.
    • Complimentary protection for eligible Owner Occupied home loans through Home Loan Compassionate Care.
    • Flexible loan options that help you reduce your interest including redraw, multiple free offsets on eligible loans and split rate home loans, helping you pay less interest.
    • CommBank My Property gives you easy access to comprehensively track and manage your home loan and property’s performance. Available in NetBank and the CommBank app.
    • Enjoy benefits sooner with FASTRefi® for seamless refinancing on eligible home loans and lenders2FASTRefi® involves borrowing additional buffer amounts to cover the pay-out estimation and is suitable for eligible home loans and lenders. If your home loan is not eligible, or FASTRefi® is not for you, then you can choose our standard refinance option.
    • Our Home Lending Specialists can help you refinance and will support you throughout your property journey.

Switch your home loan to CommBank in 3 easy steps

  • 1. Book an appointment

    Our Home Lending Specialist will:

    • Provide you with personalised support and guidance, so you know if refinancing is right for you
    • Help you choose a home loan to suit your needs with a competitive rate
    • Make your refinance application as simple and fast as possible, including checking to see if your current home loan is eligible for our FASTRefi® process
  • 2. Complete your refinance application

    We’ll guide you through the application process, you’ll need to provide us with:

    • Your current loan balance and statements for each home loan being refinanced
    • If your loan is eligible for FASTRefi® , you’ll also need to sign some additional documents and we’ll deal with your current lender on your behalf
    • Once approved, review and sign your loan contract
  • 3. Enjoy your new home loan

    Once your new home loan is set up:

    • You can take advantage of your new loan’s features and benefits right away
    • If you’re eligible for a cash back offer, this will be provided after your loan has settled
    • You can easily manage your home loan though the CommBank App and NetBank

Book a time to speak to us about refinancing

Choose a home loan that’s right for you

My loan is for

I'll be borrowing

$10,000 minimum loan amount

Extra Home Loan

A basic loan with a low variable rate for the life of your loan.2 Tell me more

Interest Rate

% p.a.

Comparison Rate*

% p.a.

Repayments

Payments

$

Borrowing $#_KEY_LOAN_AMOUNT_# over 30 years paying principal and interest.

Borrowing $#_KEY_LOAN_AMOUNT_# over 30 years paying interest only.

Once #_KEY_IO_YEARS_DROPDOWN_# interest only period ends, repayments will be $#_KEY_REPAYMENT_IO_# based on current rates - which may change.

The minimum loan amount for an Extra Home Loan with an introductory period (2 year or 4 year) is $150,000. 

Update your borrowing amount or choose another option in the drop down.

If you already have a home loan with us please talk to your Home Lending Specialists about your options.

To be eligible for a home loan you will need a borrowing amount of at least $10,000.

Update your borrowing amount.

If you already have a home loan with us, talk to your Home Lending Specialist about your options.

What you'll get

  • Low variable interest rate for the life of the loan
  • Unlimited additional repayments
  • Unlimited redraws
  • Option to split loan

Trade-offs

  • Does not provide access to an Everyday Offset account or a Wealth Package
  • Repayment amounts vary when interest rates change
  • Not available to company or trust borrowers

Fees

  • $#_KEY_ESTALISHMENT_FEE_# establishment fee
  • $#_KEY_ONGOING_FEE_# monthly loan service fee
  • Additional fees may apply

Fixed Rate

Always know what your repayments will be with a locked-in rate for 1 year.3 Tell me more

Always know what your repayments will be with a locked-in rate for 2 years.3 Tell me more

Always know what your repayments will be with a locked-in rate for 3 years.3 Tell me more

Always know what your repayments will be with a locked-in rate for 4 years.3 Tell me more

Always know what your repayments will be with a locked-in rate for 5 years.3 Tell me more

Always know what your repayments will be with a locked-in rate for 1 year.3 Tell me more

Always know what your repayments will be with a locked-in rate for 2 years.3 Tell me more

Always know what your repayments will be with a locked-in rate for 3 years.3 Tell me more

Always know what your repayments will be with a locked-in rate for 4 years.3 Tell me more

Always know what your repayments will be with a locked-in rate for 5 years.3 Tell me more

Interest Rate % p.a.

Comparison Rate*

% p.a.

Repayments

Payments

$

Borrowing $#_KEY_LOAN_AMOUNT_# over 30 years paying principal and interest.

Borrowing $#_KEY_LOAN_AMOUNT_# over 30 years paying interest only.

Once #_KEY_IO_YEARS_DROPDOWN_# interest only period ends, repayments will be $#_KEY_REPAYMENT_IO_# based on current rates - which may change.

Wealth Package rates require a minimum initial package lending balance of $150,000. 

Update your borrowing amount to see the rates or choose another option in the drop down.

If you already have a home loan with us please talk to your Home Lending Specialists about your options.

To be eligible for a home loan you will need a borrowing amount of at least $10,000.

Update your borrowing amount.

If you already have a home loan with us, talk to your Home Lending Specialist about your options.

Wealth Package rates require a minimum initial package lending balance of $150,000. 

Update your borrowing amount to see the rates or choose another option in the drop down.

If you already have a home loan with us please talk to your Home Lending Specialists about your options.

To be eligible for a home loan you will need a borrowing amount of at least $10,000.

Update your borrowing amount.

If you already have a home loan with us, talk to your Home Lending Specialist about your options.

Wealth Package rates require a minimum initial package lending balance of $150,000. 

Update your borrowing amount to see the rates or choose another option in the drop down.

If you already have a home loan with us please talk to your Home Lending Specialists about your options.

To be eligible for a home loan you will need a borrowing amount of at least $10,000.

Update your borrowing amount.

If you already have a home loan with us, talk to your Home Lending Specialist about your options.

Wealth Package rates require a minimum initial package lending balance of $150,000. 

Update your borrowing amount to see the rates or choose another option in the drop down.

If you already have a home loan with us please talk to your Home Lending Specialists about your options.

To be eligible for a home loan you will need a borrowing amount of at least $10,000.

Update your borrowing amount.

If you already have a home loan with us, talk to your Home Lending Specialist about your options.

Wealth Package rates require a minimum initial package lending balance of $150,000. 

Update your borrowing amount to see the rates or choose another option in the drop down.

If you already have a home loan with us please talk to your Home Lending Specialists about your options.

To be eligible for a home loan you will need a borrowing amount of at least $10,000.

Update your borrowing amount.

If you already have a home loan with us, talk to your Home Lending Specialist about your options.

-

To be eligible for a home loan you will need a borrowing amount of at least $10,000.
Update your borrowing amount.

If you already have a home loan with us, talk to your Home Lending Specialist about your options.

-

To be eligible for a home loan you will need a borrowing amount of at least $10,000.
Update your borrowing amount.

If you already have a home loan with us, talk to your Home Lending Specialist about your options.

-

To be eligible for a home loan you will need a borrowing amount of at least $10,000.
Update your borrowing amount.

If you already have a home loan with us, talk to your Home Lending Specialist about your options.

-

To be eligible for a home loan you will need a borrowing amount of at least $10,000.
Update your borrowing amount.

If you already have a home loan with us, talk to your Home Lending Specialist about your options.

-

To be eligible for a home loan you will need a borrowing amount of at least $10,000.
Update your borrowing amount.

If you already have a home loan with us, talk to your Home Lending Specialist about your options.

What you’ll get

  • Wealth Package savings including an interest rate discount
  • Protected from interest rate rises during fixed term
  • Option to lock in our fixed rate with the rate lock feature at a fee of $750 – learn more about rate lock
  • Additional repayments up to $10k in a fixed year without incurring additional charges
  • Option to split loan (ERA may apply)

 

Trade-offs

  • No offset account
  • No redraw
  • Rate drops won’t apply to this loan during fixed term
  • No access to features like top ups
  • Charges may apply for additional repayments over $10k in a fixed year

Fees

  • $#_KEY_PACKAGE_FEE_# annual Wealth Package fee
  • $750 fee applies if you rate lock~ – learn more about rate lock
  • Early Repayment Adjustment and Administrative Fee may apply if additional repayments are over $10k in a fixed year,  switching or breaking your loan during fixed term
  • Additional fees may apply

What you’ll get

  • Wealth Package savings including an interest rate discount
  • Protected from interest rate rises during fixed term
  • Option to lock in our fixed rate with the rate lock feature at a fee of $750 – learn more about rate lock
  • Additional repayments up to $10k in a fixed year without incurring additional charges
  • Option to split loan (ERA may apply)

Trade-offs

  • No offset account
  • No redraw
  • Rate drops won’t apply to this loan during fixed term
  • No access to features like top ups
  • Charges may apply for additional repayments over $10k in a fixed year

Fees

  • $#_KEY_PACKAGE_FEE_# annual Wealth Package fee
  • $750 fee applies if you rate lock~ – learn more about rate lock
  • Early Repayment Adjustment and Administrative Fee may apply if additional repayments are over $10k in a fixed year,  switching or breaking your loan during fixed term
  • Additional fees may apply

What you'll get

  • Wealth Package savings including an interest rate discount
  • Protected from interest rate rises during fixed term
  • Option to lock in our fixed rate with the rate lock feature at a fee of $750 – learn more about rate lock
  • Additional repayments up to $10k in a fixed year without incurring additional charges
  • Option to split loan (ERA may apply)

Trade-offs

  • No offset account
  • No redraw
  • Rate drops won’t apply to this loan during fixed term
  • No access to features like top ups
  • Charges may apply for additional repayments over $10k in a fixed year

Fees

  • $#_KEY_PACKAGE_FEE_# annual Wealth Package fee
  • $750 fee applies if you rate lock~ – learn more about rate lock
  • Early Repayment Adjustment and Administrative Fee may apply if additional repayments are over $10k in a fixed year,  switching or breaking your loan during fixed term
  • Additional fees may apply

What you'll get

  • Wealth Package savings including an interest rate discount
  • Protected from interest rate rises during fixed term
  • Option to lock in our fixed rate with the rate lock feature at a fee of $750 – learn more about rate lock
  • Additional repayments up to $10k in a fixed year without incurring additional charges
  • Option to split loan (ERA may apply)

Trade-offs

  • No offset account
  • No redraw
  • Rate drops won’t apply to this loan during fixed term
  • No access to features like top ups
  • Charges may apply for additional repayments over $10k in a fixed year

Fees

  • $#_KEY_PACKAGE_FEE_# annual Wealth Package fee
  • $750 fee applies if you rate lock~ – learn more about rate lock
  • Early Repayment Adjustment and Administrative Fee may apply if additional repayments are over $10k in a fixed year,  switching or breaking your loan during fixed term
  • Additional fees may apply

What you'll get

  • Wealth Package savings including an interest rate discount
  • Protected from interest rate rises during fixed term
  • Option to lock in our fixed rate with the rate lock feature at a fee of $750 – learn more about rate lock
  • Additional repayments up to $10k in a fixed year without incurring additional charges
  • Option to split loan (ERA may apply)

Trade-offs

  • No offset account
  • No redraw
  • Rate drops won’t apply to this loan during fixed term
  • No access to features like top ups
  • Charges may apply for additional repayments over $10k in a fixed year

Fees

  • $#_KEY_PACKAGE_FEE_# annual Wealth Package fee
  • $750 fee applies if you rate lock~ – learn more about rate lock
  • Early Repayment Adjustment and Administrative Fee may apply if additional repayments are over $10k in a fixed year,  switching or breaking your loan during fixed term
  • Additional fees may apply

What you'll get

  • Protected from interest rate rises during fixed term
  • Option to lock in our fixed rate with the rate lock feature at a fee of $750 – learn more about rate lock
  • Additional repayments up to $10k in a fixed year without incurring additional charges
  • Option to split loan(ERA may apply)

Trade-offs

  • No Wealth Package savings or interest rate discounts
  • No offset account
  • No redraw
  • Rate drops won’t apply to this loan during fixed term
  • No access to features like top ups
  • Charges may apply for additional repayments over $10k in a fixed year

Fees

  • $#_KEY_ESTALISHMENT_FEE_# establishment fee
  • $#_KEY_ONGOING_FEE_# monthly loan service fee
  • $750 fee applies if you rate lock~ – learn more about rate lock
  • Early Repayment Adjustment and Administrative Fee may apply if  switching or breaking your loan
  • Additional fees may apply

What you'll get

  • Protected from interest rate rises during fixed term
  • Option to lock in our fixed rate with the rate lock feature at a fee of $750 – learn more about rate lock
  • Additional repayments up to $10k in a fixed year without incurring additional charges
  • Option to split loan (ERA may apply)

Trade-offs

  • No Wealth Package savings or interest rate discounts
  • No offset account
  • No redraw
  • Rate drops won’t apply to this loan during fixed term
  • No access to features like top ups
  • Charges may apply for additional repayments over $10k in a fixed year

Fees

  • $#_KEY_ESTALISHMENT_FEE_# establishment fee
  • $#_KEY_ONGOING_FEE_# monthly loan service fee
  • $750 fee applies if you rate lock~ – learn more about rate lock
  • Early Repayment Adjustment and Administrative Fee may apply if  switching or breaking your loan
  • Additional fees may apply

What you'll get

  • Protected from interest rate rises during fixed term
  • Option to lock in our fixed rate with the rate lock feature at a fee of $750 – learn more about rate lock
  • Additional repayments up to $10k in a fixed year without incurring additional charges
  • Option to split loan (ERA may apply)

Trade-offs

  • No Wealth Package savings or interest rate discounts
  • No offset account
  • No redraw
  • Rate drops won’t apply to this loan during fixed term
  • No access to features like top ups
  • Charges may apply for additional repayments over $10k in a fixed year

Fees

  • $#_KEY_ESTALISHMENT_FEE_# establishment fee
  • $#_KEY_ONGOING_FEE_# monthly loan service fee
  • $750 fee applies if you rate lock~ – learn more about rate lock
  • Early Repayment Adjustment and Administrative Fee may apply if  switching or breaking your loan
  • Additional fees may apply

What you'll get

  • Protected from interest rate rises during fixed term
  • Option to lock in our fixed rate with the rate lock feature at a fee of $750 – learn more about rate lock
  • Additional repayments up to $10k in a fixed year without incurring additional charges
  • Option to split loan (ERA may apply)

Trade-offs

  • No Wealth Package savings or interest rate discounts
  • No offset account
  • No redraw
  • Rate drops won’t apply to this loan during fixed term
  • No access to features like top ups
  • Charges may apply for additional repayments over $10k in a fixed year

Fees

  • $#_KEY_ESTALISHMENT_FEE_# establishment fee
  • $#_KEY_ONGOING_FEE_# monthly loan service fee
  • $750 fee applies if you rate lock~ – learn more about rate lock
  • Early Repayment Adjustment and Administrative Fee may apply if  switching or breaking your loan
  • Additional fees may apply

What you'll get

  • Protected from interest rate rises during fixed term
  • Option to lock in our fixed rate with the rate lock feature at a fee of $750 – learn more about rate lock
  • Additional repayments up to $10k in a fixed year without incurring additional charges
  • Option to split loan (ERA may apply)

Trade-offs

  • No Wealth Package savings or interest rate discounts
  • No offset account
  • No redraw
  • Rate drops won’t apply to this loan during fixed term
  • No access to features like top ups
  • Charges may apply for additional repayments over $10k in a fixed year

Fees

  • $#_KEY_ESTALISHMENT_FEE_# establishment fee
  • $#_KEY_ONGOING_FEE_# monthly loan service Fee
  • $750 fee applies if you rate lock~ – learn more about rate lock
  • Early Repayment Adjustment and Administrative Fee may apply if  switching or breaking your loan
  • Additional fees may apply

Standard Variable Rate

A variable rate home loan with an extensive range of features. Tell me more

A variable rate home loan with an extensive range of features. Tell me more.

Interest Rate % p.a.

Comparison Rate*

% p.a.

Repayments

Payments

$

Borrowing $#_KEY_LOAN_AMOUNT_# over 30 years paying principal and interest.

Borrowing $#_KEY_LOAN_AMOUNT_# over 30 years paying interest only.

Once #_KEY_IO_YEARS_DROPDOWN_# interest only period ends, repayments will be $#_KEY_REPAYMENT_IO_# based on current rates - which may change.

Wealth Package rates require a minimum initial package lending balance of $150,000. 

Update your borrowing amount to see the rates or choose another option in the drop down.

If you already have a home loan with us please talk to your Home Lending Specialists about your options.

To be eligible for a home loan you will need a borrowing amount of at least $10,000.

Update your borrowing amount.

If you already have a home loan with us, talk to your Home Lending Specialist about your options.

-

To be eligible for a home loan you will need a borrowing amount of at least $10,000.

Change your borrowing amount.

If you already have a home loan with us, talk to your Home Lending Specialist about your options.

What you'll get

Trade-offs

  • A higher interest rate compared to the Extra home loan (although the Extra home loan does not provide access to an Everyday Offset account or a Wealth Package)**
  • Repayment amounts vary when interest rates change

Fees

What you'll get

Trade-offs

  • No Wealth Package savings or interest rate discounts
  • A higher interest rate compared to the Extra home loan (although the Extra home loan does not provide access to an Everyday Offset account or a Wealth Package)
  • Repayment amounts vary when interest rates change

Fees

  • $#_KEY_ESTALISHMENT_FEE_# establishment fee
  • $#_KEY_ONGOING_FEE_# monthly loan service fee
  • Additional fees may apply

Calculators & guides

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Things you should know

  • As at 20 May 2022 Extra Home Loan reference rate for Owner Occupied home loans is 4.03% p.a. and the current Extra Home Loan reference rate for Investment home loans is 4.38% p.a. 

    1 Package requires at least $150,000 in package lending balance, and an annual fee of $395 applies. Package lending balance is the sum of the account balance of eligible home lending accounts and the credit limit of Viridian Line of Credit accounts that you have with us at the time you apply for Wealth Package. Eligible home loans are limited to those accounts that can be included in the Wealth Package.

    2 Refinance using FASTRefi® can occur within days of us receiving your signed loan and FASTRefi® documents. Once the loan is repaid and closed, any surplus funds will be refunded by the other financial institution. FASTRefi® is a registered trademark of First American Title Insurance Company of Australia Pty Limited ABN 64 075 279 908 trading as First Title. First American Title Insurance Company of Australia Pty Limited is not part of the Commonwealth Bank of Australia.

    * Comparison rate calculated on a $150,000 secured loan over a 25-year term. WARNING: Comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Comparison rates for variable Interest Only loans are based on an initial 5-year Interest Only period. Comparison rates for fixed or guaranteed Interest Only loans are based on an initial Interest Only period equal in length to the fixed or guaranteed period. During an Interest Only period, your Interest Only payments will not reduce your loan balance. This may mean you pay more interest over the life of the loan.

    ^ Offer available on eligible home loans funded on and from 1 January 2020 (except for Owner Occupied Interest Only home loans, which are eligible if funded on and from 7 April 2020), where at least $250,000 has been refinanced from a financial institution other than Commonwealth Bank or Bankwest. Viridian lines of credit may be eligible as part of a multiple loan facility application if the total minimum refinance amount of $250,000 or more is met. Limit of one $2,000 cashback per borrowing entity (e.g. individual, joint borrowers, company) and per customer over a 12 month period. Limit of one $2,000 cashback per joint application. Where one of the joint applicants has received a cashback in the last 12 months, that customer will not qualify for the offer. Where all applicants have received a cashback in the past 12 months, the joint loan will not be eligible for the cashback. This offer cannot be combined with a Wealth Package fee waiver. Cashback will be credited to a Commonwealth Bank transaction account linked to the loan or the borrower/s within 90 days of loan funding (this could be a joint account with an unrelated party). We reserve the right to terminate the offer at any time. Applications subject to credit approval. Fees and charges may be payable. Full terms and conditions will be included in our loan offer.

    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.