- Commonwealth Bank has today announced it will reduce interest rates on Standard Variable Rate (SVR) home loans
- All variable home loan rates will decrease by 0.25% from Tuesday 25 June 2019
- For owner occupiers, the standard variable home loan rate will decrease to 5.12% per annum for customers making Principal and Interest (P&I) repayments, and to 5.67% per annum for customers making Interest Only (IO) payments
- For investors, the standard variable home loan rate will decrease to 5.70% per annum for customers making P&I repayments, and to 6.14% per annum for customers making IO payments
- Viridian Line of Credit (VLOC) interest rates will decrease to 6.28% per annum
Why is Commonwealth Bank decreasing its standard variable home loan interest rates?
- We have carefully considered the RBA rate decision and the current funding environment, together with how we continue to meet our regulatory commitments, capital requirements, and community expectations
- We are lowering our standard variable rates in line with the 0.25% reduction of the official cash rate effective Tuesday 25 June 2019
Will my repayments automatically drop following the Commonwealth Bank’s decision to decrease variable home loan interest rates?
- No. For those customers who are making the minimum required monthly repayments, we will not automatically decrease your direct debit repayment
I would like more information. Who can I speak to?
- To find out how to take advantage of today’s rate announcement, make sure you speak with one of our Home Lending Specialists. They can review your home loan options free of charge, and ensure your arrangements remain appropriate for your circumstances. You can book an appointment with a Home Lending Specialist online, visit one of our branches or call us on 13 22 24
- For more information about all of our products and rates, visit our Home Loan Interest Rates page. This page is regularly updated and will be updated again on Tuesday 25 June 2019 to reflect the changes to our variable rate home loans