CommBank passes on full RBA rate cut, reducing variable home loan interest rates by 0.25% p.a., effective 30 May 2025.

Existing home loan customers will be able to see their new interest rate and review repayments from 31 May 2025.

Why refinance with CommBank

Tailored products to suit your needs

Seamless transition and customisable repayments

  • Save time with access to FASTRefi® where we manage the refinance steps on your behalf, and fund your loan within days4
  • Use our home loan calculators and tools and track your application in real time via the CommBank Home Hub. 
  • Have flexibility and choose the set-up of your home loan repayments, making it easier to stay on track 

Exclusive discounts & offers 

  • As part of CommBank Yello, our customer recognition program, you could receive benefits including prize draws, cashbacks and other discounts.
  • Access fast conveyancing contract reviews with Home-in, savings on nbn® and mobile plans with More and other exclusive offers.

Switching to a CommBank home loan is simple

  • Refinance Calculator

    Calculate how much you could save on repayments by refinancing your home loan with us. There may be costs involved with refinancing.

    Calculate now

  • Book time with a lender instantly

    Get the most of your home loan application process and book time with a Home Lending Specialist at a time and place that suits you.

    Book appointment

  • Apply now

    Start your home loan refinance application online if you’re looking to switch from another bank.

    Apply online

We're lowering our Variable Rate home loans by 0.25% p.a. on 30/05/2025

Choose a home loan that’s right for you

Digi Home Loan

  • A low variable rate when you apply online
  • Unlimited additional repayments, with ability to redraw and one Everyday Offset account
  • Easily apply in minutes using the CommBank app and manage your home loan online

A digital home loan with a low variable rate and access to one Everyday Offset account. Only available online.

Standard Variable Rate

A competitive variable rate home loan with discounts tailored to you, plus access to offset and an extensive range of features. 

Simple Home Loan

  • Save on interest while having the choice to link up to two Everyday Offset accounts
  • Unlimited additional repayments and redraws as well as the option to make Interest Only payments.
  • Negotiate your rate with a Home Lending specialist when you apply for a Simple Home Loan

A simple home loan with a competitive variable rate and the choice to access two offset accounts.

Calculators & guides 

Already have a home loan with us?

  • You can switch or refix your eligible existing home loan online

    • View all available rates when you log onto NetBank, To switch in NetBank, go to 'Settings' and then select 'Change to fixed rate / refix home loan'. 
    • In the CommBank app, go to your home loan, tap ‘Manage loan’ then select ‘Change your loan’

    Some home loan types can’t be changed in NetBank, such as Interest Only. Call 13 2224 for any changes to your loan that you can’t make in NetBank.

    Change in NetBank

    Check your home loan

  • Split your loan

    You can also split your home loan and enjoy the best of fixed and variable.

    More about splitting your home loan

    Split in NetBank

  • Increase your home loan (top up)

    If you’re planning renovations, want to consolidate your debts or simply need extra cash, borrowing additional funds with your existing home loan could be the solution.

    Tell me more about topping up my home loan

    Book appointment

Frequently asked questions

Refinancing  involves switching your home loan from one lender to another by taking out a new mortgage to replace your existing one. This usually also includes different and/ or a new set of terms and conditions.

The process of refinancing a home loan includes assessing your current loan, comparing new loan options to best suit your individual needs, calculating potential savings, and applying for the new loan. Refinancing could potentially help you save money, pay off your mortgage faster, or better manage your finances. 

You can apply online or refinance with Digi home loan. Alternately, you can book an appointment with Home Lending Specialists.

Refinancing your home loan can be a good idea, depending on  your individual circumstances and financial goals. Here are some factors to consider:

  1. Lower Interest Rates: If current interest rates are lower than what you're paying on your existing loan, refinancing could reduce your monthly repayments and save you money over the life of the loan
  2. Change Loan Terms: Refinancing allows you to change the terms and conditions of your loan. For example, you might switch and extend your loan from a 15-year loan to a 30-year loan.
  3. Access Equity: If your property has increased in value, refinancing can allow you to access the equity in your home for other financial needs, such as renovations or debt consolidation.
  4. Cost and Fees: Consider the costs associated with refinancing, such as application fees, valuation fees, and legal fees. Ensure that the savings from refinancing outweigh these costs
  5. Long-Term Plans: Think about how long you plan to stay in your home. If you plan to move soon, the costs of refinancing may not be worth it.

Ultimately, refinancing could be beneficial if it aligns with your financial goals and provides significant savings. It's a good idea to use tools like our refinance calculator and speak with a Home Lending Specialist to determine if it's the right move for you.

It’s generally recommended to wait at least 12 to 24 months before refinancing. This is because refinancing involves costs such as application fees, valuation fees, and potential break costs if you're on a fixed-rate loan. Waiting allows you to build up equity in your property and ensures that the benefits of refinancing outweigh the associated costs. Additionally, refinancing too soon could impact your credit score.

Technically, you can refinance your home loan as often as you like, but it's important to consider the costs and benefits each time. Generally, it's recommended to review your loan annually. Frequent refinancing can incur fees and impact your credit score, so it's crucial to ensure that the savings and benefits outweigh the costs

If you're unsure, our Home Lending Specialists can help you determine the best timing for your situation.

Message us 24/7

Get help from Ceba in the CommBank app or connect with a specialist who can message you back. You’ll need CommBank app notifications turned on so you know when you’ve received a reply. 

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