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Home loans / Viridian Line of Credit

On and from 3rd June 2023, Viridian Line of Credit is unavailable for new fundings and limit increases.

Key information & dates

On and from 14 March 2026
The Wealth Package will no longer be available for new applications and will become part of eligible home lending, which includes Viridian Line of Credit. Customers may not remove or add a Wealth Package.#

Features & benefits

  • Accessible line of credit 

    A pre-approved limit ensures you have credit available whenever you need it most, without having to reapply for it.

  • Only pay for what you use

    A loan that only charges you interest on the amount you use.

  • Access options

    Access your money using your CommBank keycard or Debit Mastercard, in branch or online.

  • Repayment flexibility 

    Choose when you make your payments and how much you want to pay, making sure you cover monthly interest, fees and charges.

  • Trade-offs

    This product may not be suitable for you if you: 

    • Are not comfortable managing debt repayments without a set repayment schedule. 
    • Want to carry a substantial loan balance over a long time period. 
    • Want to split your loan balance into multiple loans. Splitting isn’t available on this loan type. 

How it works

  • Loan purpose

    You can use your loan for a variety of purposes, including:

    • Owner occupied or Investment property purchase 
    • Refinancing
    • Home renovations 
    • Consolidation of personal debt 
    • Purchase of land 
    • Personal needs 
    • Personal investments other than cryptocurrency or digital assets

    A Viridian Line of Credit cannot be used for business purposes, building/construction loans, off-the-plan purchases or as bridging loans.

  • Making payments

    • At a minimum, you’ll need to manage your payments so that interest, fees and charges are covered each month
    • To reduce your loan balance, you can make additional payments at any time. This will need to cover more than what you spend plus interest, fees and charges
    • Ongoing interest is incurred on any outstanding loan balance

    To find out more visit: How can I find my Viridian Line of Credit (VLOC) payment amount and payment options?

  • Interest calculations

    • Interest on your Viridian Line of Credit is calculated daily on your outstanding loan balance and charged monthly.
    • This amount will be debited from your Viridian Line of Credit on the first calendar day of the following month and is capitalised and compounded (added to your loan and becomes part of your outstanding loan balance).

    It’s important to note that unless you make regular payments, you will reach your approved limit sooner and have less money to access.

  • Debt Reduction Plan

    • It’s important to have a clear debt reduction plan or exit strategy prepared so that your VLOC is paid off in full prior to your retirement, or plan how you’ll manage its ongoing servicing after retirement. We recommend you seek independent legal and/or financial advice to understand your obligations, risks and impact on your financial situation.
    • You can also switch the outstanding balance of your Viridian Line of Credit to a standard home loan product which can offer regular Principal and Interest repayments and/or the security of a fixed rate. To switch your VLOC speak to a Home Lending Specialist to discuss your options. 
    • Alternatively, if you would like to speak to us about paying out and closing your Viridian Line of Credit, please visit your nearest CommBank branch or call us on 13 2224.

Rates & fees

 Additional fees may apply

Download all home loan interest rates (PDF)

Interest rates

Reference Interest Rate1
Residential Equity Rate
9.53% p.a.
Investment Residential Equity Rate
9.53% p.a.

These are variable rates that generally move in line with market conditions and can change at any time. 

Wealth Package requires an initial total home lending of at least $150,000 with us.#

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Things you should know

  • 1 The Residential Equity Rate and Investment Residential Equity Rate are variable rates that generally move in line with market conditions and can change at any time.

    # Prior to 14 March 2026: To apply for a Wealth Package, you must have an eligible home loan or line of credit with an initial package lending balance of at least $150,000 at the time of your application. Package lending balance is the sum of the account balance of eligible Standard Variable Rate home loans, Fixed Rate home loans that you have with us at the time you apply for Wealth Package. Please refer to the Wealth Package Fact Sheet and Package Terms and Conditions for full details.

    On and from 14 March 2026: The Wealth Package will become part of eligible home loans. Eligible home loans include: Standard Variable Rate home loans and Fixed Rate home loans. Eligibility also extends to Viridian Line of Credits which were receiving Package benefits on 13 March 2026, or where a customer/s holds a Viridian Line of Credit and applies for a Standard Variable Rate and/or Fixed Rate home loan after 14 March 2026.

    A non-refundable annual fee of $395 is payable in advance. The package can be established in the name of one or two individual’s name/s, or in the name of a corporate entity. It cannot be established in the name of a business or family investment trust.

    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.