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About Viridian Line of Credit

Features

  • Home Seeker conditional pre-approval – valid for six months
  • Freedom and flexibility to withdraw – anytime up to your agreed loan amount and daily card limit
  • No set principal repayment requirements – as long as interest, fees and charges are paid monthly
  • Expand your investment portfolio – get convenient access to your equity to buy other properties
  • Flexible loan amount – access additional funds by increasing your existing loan
  • Portability – take your loan to your next home (conditions and fees apply)
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Rates and fees

  • $600 up-front establishment fee
  • $12 monthly loan service fee
  • Variable rate

  • Save with interest rate discounts, adding even more flexibility to your repayment strategy
  • No up-front establishment fee
  • No monthly loan service fee
  • Additional savings on banking, investment and insurance services
  • An initial total home lending6 of at least $150,000 with us
  • Annual fee for Wealth Package is $375 ($395 on and from 16 May 2014)

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Interest rate1,26.05%PA

Add-ons

You can access a variety of add-ons to your Viridian Line of Credit, with increased flexibility to manage your finances.

  • Rewards you for banking with us
  • Interest rate discounts
  • No establishment fee (normally $600)
  • No loan service fees (normally $12 a month)
  • To qualify you need initial total home lending3 of at least $150,000 with us and to pay the $375 ($395 on and from 16 May 2014) annual Wealth Package fee

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  • Useful alternative4 to a cash deposit on a home purchase. This is a quick and flexible way to pay a deposit if your cash is tied up in other investments or you're waiting to sell your existing property
  • The fee is from 1.2% of the overall deposit

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  • If your Relationship Balance is more than $50,000 we'll waive certain fees on eligible transaction accounts
  • Flexibility to make unlimited5 everyday CommBank transactions without paying withdrawal or monthly account fees. Simplify your banking by having your salary credited directly into this account and your home loan repayments automatically debited

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Apply for a CommBank Awards or Gold Credit Card at the same time as a Viridian Line of Credit, and we'll waive your credit card annual fee for the first year, saving up to $114.

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Secure your home with our Home Insurance, Loan Protection insurance and Life Insurance options6.

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Tools and calculators

Home loan calculators

Find the right home loan by calculating your loan amount, term, repayment amount and frequency. Choose a home and a home loan that suits your budget. 

Tools

A fabulous resource for homebuyers, with articles, tools and advice to help you save money on your new home.

Fact sheets

Related products

Standard Variable Rate

With a variety of features and a competitive variable rate, you’ll enjoy the flexibility of our Standard Variable Rate home loan or Investment home loan.

Learn more

No Fee Variable Rate

Take advantage of the flexibility and transparency of our No Fee Variable Rate home loan and benefit from saving on bank fees for the life of the loan.

Learn more

Base Variable Rate

With a range of features – including repayment redraw – and your choice of repayment plans, this flexible home loan will change as your life does.

Learn more

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Important information

1 The Residential Equity Rate is a variable rate, which generally moves in line with market conditions and can change at any time

2 Low Documentation Loan available on these products

3 Total home lending balance is the sum of the account balance of home lending accounts and the credit limit of the line of credit accounts that you have with us. Any extra repayment that you make on your home loan will reduce your total home lending balance.

4 We act as an agent for Vero Insurance Limited to provide Deposit Guarantees. Vero Insurance issues Deposit Guarantees under the registered trademark ‘Deposit Power’. We receive commission for each Deposit Guarantee we sell. You can only apply for a Deposit Guarantee after you have unconditional loan approval (only subject to valuation).

5 Excludes non-Commonwealth Bank ATMs here and overseas, transfer group payments to third parties, International Money Transfers and separate services such as bank cheques, periodic payments and transfers/deposits to other banks. Terms and conditions available on request.

6 Insurance refers to products offered by Commonwealth Insurance Limited ABN 96 067 524 216 (CIL) and The Colonial Mutual Life Association Society limited ABN 12 004 021 809 (CMLA) both wholly owned but non-guaranteed subsidiaries of the Commonwealth Bank of Australia. the issuer and insurer of Home Insurance is CIL and the Commonwealth Bank is an arranger of the insurance. Home Insurance is offered by CIL, Loan Protection and Life Insurance is offered by CMLA. The Commonwealth Bank of Australia and its subsidiaries (excluding CIL and CMLA) do not guarantee the obligations or performance of CIL or CMLA or the products they offer. Where the Commonwealth Bank of Australia acts as an agent for CIL or CMLA, the Commonwealth Bank receives a commission from CIL or CMLA respectively. Applications for Loan Protection are subject to assessment and the settlement and funding of your loan or establishment of your line of credit facility. Product Disclosure Statements (PDSs) are available for these products by calling 13 24 23, visiting commbank.com.au or from any branch of the Commonwealth Bank. The PDS should be considered before making any decisions about these products.

As this advice has been prepared without considering your objectives, financial situation or needs, you should before acting on this advice, consider its appropriateness to your circumstances. Terms and conditions for Everyday Account are available on request. If you have a complaint, the Bank’s dispute resolution process can be accessed on 13 2221.

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. 

An annual fee and eligibility criteria applies to Wealth Package and terms and conditions are available on application.

Applications for finance are subject to the Bank’s normal credit approval. Full terms and conditions are included in the Loan Offer. Fees and charges are payable.

If you do not find a property and accept our formal loan offer within 90 days of the conditional pre-approval date, we will need to obtain from you updated financials and confirm that the loan still meets your needs and financial objectives.

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