Help us improve our website by completing a quick survey. Start survey now

About our Standard Variable Rate

Features

  • Home Seeker conditional pre-approval – valid for six months
  • Variable loan terms – up to 30 years
  • Variable repayment frequency – weekly, fortnightly or monthly1
  • Choice of repayment methods:
    • via direct debit or automatic funds transfer (to be deducted when it suits you) from your Everyday Account
    • online
    • by phone
    • in a branch
  • Unlimited additional repayments – cut the loan term and save money in interestRepayment Redraw – withdraw additional repayments from selected ATMs, EFTPOS, Australia Post EFTPOB terminals, via NetBank, telephone banking or in any branch2. No individual transaction fees apply3
  • Repayment Redraw – withdraw additional repayments from selected ATMs, EFTPOS, Australia Post EFTPOB terminals, via NetBank, telephone banking or in any branch2. No individual transaction fees apply3
  • Repayment Holiday – suspend repayments for nominated periods from 3 to 12 months if enough additional repayments have been made4
  • Interest calculated daily – see immediate benefit from repayments
  • Interest-only option – reduce loan commitments by paying only the interest amount due each month1
  • Split-loan option – transfer some of the loan into a Fixed Rate home loan to guard that amount against rate rises
  • Portability – take your loan with you if you move house (conditions and fees apply)
  • Loan increase – access additional funds by increasing your existing loan

Learn more

Rates and fees

  • Save up to 0.70% p.a. for this loan
  • No up-front establishment fee5
  • No monthly loan service fee for life of the loan
  • Additional savings on banking, investment and insurance services
Learn more

  • $600 up-front establishment fee
  • $8 monthly loan service fee

Interest rate5.90%PA

Comparison rate 6.04%PA

Add-ons

  • Wealth Package gives you rewards for banking with us
  • Save up to 0.70% p.a. for this loan
  • No up-front establishment fee5 (normally $600)
  • No loan service fees (normally $8 a month)
  • An initial total home lending6 of at least $150,000 with us
  • Annual fee for Wealth Package is $375 ($395 on and form 16 May 2014)

Learn more
  • We’ll waive certain fees on eligible transaction accounts if your Relationship Balance is over $50,000
  • Make unlimited8 everyday CommBank transactions with no withdrawal or monthly account fees
  • Credit your salary directly into this account and automatically debit your home loan repayments from it

Learn more
  • Range of home insurance, loan protection insurance and life insurance options available

Learn more

  • Link an interest offset account to your Standard Variable Rate home loan to offset the funds in the account against your loan
  • Reduce the interest you pay and reduce the term of your loan

Mortgage Interest Saver Account (MISA)

  • 100% interest offset on eligible variable rate loans
  • Partial offset (currently 1.50%pa) on fixed rate loans

Everyday Offset

  • 100% interest offset on Standard Variable Rate loans
  • Link multiple Everyday Offsets to your home loan
  • Full transactional capabilities
  • Real time banking

Learn more
  • Apply for a CommBank Awards or Gold credit card at the same time as a Standard Variable Rate home loan
  • We’ll waive the card’s annual fee for the first year, saving you up to $114
Learn more

  • Deposit Guarantee7 gives you an alternative to a cash deposit
  • Useful if cash is tied up in other investments or you’re waiting to sell your existing property
  • Fee is from 1.2% of the overall deposit

Learn more

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

Borrowing options

Borrowing options

Co-own a property with family or friends while keeping control of your finances.

Learn more

Secure your loan with the help of family or friends who will help by mortgaging their property as added security.

Learn more

A low-documentation home loan that’s ideal for the self-employed or small business owner.

Learn more

Choose a borrowing solution that will help you get into the property market without a large deposit.

Learn more

Another solution if you don’t have a large deposit.

Learn more

If you buy a new property before selling your existing one, bridging finance can help.

Learn more

Add-ons

Gain access to your funds plus a fantastic rewards program with an Awards or Gold Awards credit card, and pay no fee for the first year.

Learn more

Enjoy significant savings on borrowing, everyday banking and insurance services.

Learn more

If your finances are tied up in investments or you’re waiting to sell your existing property, a deposit guarantee is a convenient and cost-effective alternative to using a cash deposit when buying a home.

Learn more

With a CommBank home loan, you may have the option to choose low-fee accounts to manage your home loan and day-to-day transactions.

Learn more

Choose from a range of home insurance, loan protection insurance and life insurance options.

Learn more

Save thousands of dollars in interest and pay off your Home Loan faster with our Mortgage Interest Saver Account or our Complete Access account with the Everyday Offset feature.

Learn more

Related products

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

Fixed Rate

A Fixed Rate home loan provides the security and convenience of knowing exactly where you stand for the length of your fixed term.

Learn more

Talk to us

Important information

1 Interest-only repayments can only be made monthly. The interest-only payment period may be for any term of 1 – 15 years for Investment Home Loans and 1 – 10 years for owner-occupied Home Loans, irrespective of the fixed, guaranteed, or discounted variable rate term.

2 Minimum $1,000 withdrawal with a $5 Redraw fee over the counter at any Commonwealth Bank branch and $500 electronically with a $0 Redraw fee. Redraw and Repayment Holiday are dependent on having the required amount available in special repayments (extra repayments).

3 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.

4 Repayment Holidays are not available where there is a second or subsequent mortgage to another financial institution ranking behind the Commonwealth Bank. Applications are subject to the Bank’s approval.

5 The Bank will not charge any upfront establishment fees on Home Loans or Investment Home Loans under the Package. However, a deferred establishment fee may be payable if the Home Loan or Investment Home Loan was established prior to 21st March 2011 and is repaid in full within four years from the funding date of the loan but excluding repayment during a guaranteed interest rate period. Switching to another loan type permitted by us does not constitute repayment.

6 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.

7 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).

8 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.

9 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 of Australia is the arranger of the insurance, 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.

All comparison rates are calculated on the basis of secured credit of $150,000 over a 25 year term. WARNING: This 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.

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

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.

Loading…
Google+