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CommBank standard variable rate home loans

STANDARD VARIABLE RATE HOME LOAN

Benefits of a Standard Variable Rate Home Loan

Flexibility

Complete flexibility

With our full range of features, you could take out a split loan, make unlimited additional repayments and redraws and make interest-only repayments.1

Interest offset

Interest offset

Deposit your funds into your offset facility, which may help you save interest and gives you easy access to your money.*

Top up

Top up

Increase your existing home loan by as little as $10,000, so you can have access to additional funds when you need them.

Our featured rates

Standard Variable Rate
(owner occupied)

Interest rate5.22%PA

Comparison Rate5.37%PA

Standard Variable Rate
(investment)

Interest rate5.49%PA

Comparison Rate5.63%PA

Enjoy special discounts on loans, credit cards, everyday banking and insurance with our Wealth Package.

  • $395 annual package fee
  • Save up to 0.70% p.a. on the Standard Variable Rate
  • $600 establishment fee waived3
  • $8 monthly loan service fee waived

Available on a range of fixed and standard variable rate home loans and Lines of Credit. Requires an initial total home lending of at least $150,000 with us.#

Apply for a home loan online and get a response in 60 seconds.

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Make an appointment with a Home Lending Specialist.

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Already a customer banking online with us?

Save time by using your NetBank details.

Make appointment in NetBank

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Interest rates and fees

Our Standard Variable Rate offers a competitive rate and choice of flexible features tailored to your changing needs.  Standard Variable Rate home loan interest rates and fees vary depending on whether or not you choose our Wealth Package.

Interest rate

Comparison rate

Standard Variable Rate (owner occupied) 

5.22 % p.a.

5.37 % p.a.

Standard Variable Rate (investment)

5.49 % p.a.

5.63 % p.a.

  • Save up to 0.70% p.a. on standard variable rates
  • $0 upfront establishment fee (usually $600)
  • $0 monthly loan service fee (usually $8)

Introductory rates are only available for new loans.  At the end of the discounted period, the interest rate converts to a Standard Variable Rate (if owner occupied) or Investment Standard Variable Rate (if an investment loan). Or, you can choose another home loan option.

Interest rate

Comparison rate

12 Month Discounted Variable Rate (owner occupied)

4.52% p.a.

5.30% p.a.

12 Month Discounted Variable Rate (investment)

4.79% p.a.

5.57% p.a.

1 Year Guaranteed Rate (owner occupied)

4.39% p.a.

5.28% p.a.

1 Year Guaranteed Rate (investment)

4.79% p.a.

5.56% p.a.

  • Save 0.40% p.a. on the Standard Variable Rate at the end of the Introductory period
  • $0 upfront establishment fee (usually $600)
  • $0 monthly loan service fee (usually $8)
  • $750 rate lock fee on the 1 Year Guaranteed Rate

Why choose CommBank?

Tailored rates

Tailored rates

Get a loan and interest rate tailored for you, bringing you the best deal for your situation.

Expert lending support

Expert lending support

Make confident decisions, with specialists who partner with you at every step.

Anywhere, anytime convenience

Anywhere, anytime convenience

Manage your home loan and banking 24/7 with our CommBank app, NetBank or over the phone.

Home Loan Calculators

Enter your income and expenses to get an estimate of how much you may be able to borrow for a home loan.

Use calculator

Estimate what your future repayments would be based on how much you want to borrow and the term.

Use calculator

Estimate the total cost of buying a property, including government costs, stamp duty and other costs.

Use calculator

Borrowing options

Split the cost of a home with family or friends, while retaining individual control of your finances. Available on most home loans.

Learn more

Lenders’ Mortgage Insurance allows you to purchase a property with a smaller deposit, so you can own your home sooner.

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Benefit from significant savings on borrowing, everyday banking and insurance services, as a reward for banking with us.

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A family member can help you secure a home loan by mortgaging their own property as additional security.

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Apply for a loan without the financial statements or tax returns usually required, if you’re self-employed or a small business owner.

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Offset the funds in your linked accounts against the balance of your home loan, to potentially save thousands of dollars in interest.

Learn more

We can help

Ready to apply or want to discuss your home loan needs?

or

Already a customer banking online with us?

Save time by using your NetBank details. 

 

Apply in NetBank

New customer or don't bank online with us?

Apply online

or

or

Already a customer banking online with us?

Save time by using your NetBank details. 

 

Make appointment in NetBank

New customer or don't bank online with us?

Make an appointment online

or

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 $0 Redraw fee over the counter at any Commonwealth Bank branch and no minimum electronically with a $0 Redraw fee. Redraw and Repayment Holiday are dependent on having the required amount available in special repayments (extra repayments).

3. 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.

^ Provided the details initially agreed upon do not change, a Home Seeker loan approval guarantees the amount you can borrow, but not your interest rate. 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.

*On the 12 month discounted variable rate and 1 year guaranteed rate, only the Mortgage Interest Saver Account is available for 100% interest offset and for the interest offset to apply there must be a minimum of $1,000.  You can have unlimited Everyday Offset accounts linked to the one home loan but you can only have one MISA linked to the one home loan.

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.

#Total home lending balance is the sum of the account balance of home lending accounts and the credit limit of Viridian Line of Credit accounts that you have with us at the time you apply for Wealth Package. 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. Other fees and charges are payable.