What is a MAV (Mortgage Advantage) Package?

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Last updated 16 May 2014


A MAV Package is a supplementary option which is designed to reward you for banking with us, by offering substantial savings across a range of banking products.

What benefits does the MAV Package give?

When you take up a MAV Package you can enjoy significant discounts on borrowing, everyday banking and insurance services. These benefits include:

  • Up to 0.7% p.a. off a Standard Variable Rate Home Loan
  • Up to 0.15% p.a. off a Fixed Rate Home Loan
  • No monthly account or withdrawal fees on an Everyday Accounts
  • No annual fee on a Commonwealth Bank credit card

Details on these and other discounts can be found by clicking here.

An example of potential savings

 
Product Savings per year
$300,000 Standard Variable rate Home Loan $1400
No Home Loan monthly loan service fee $96
No monthly account fees on an Everyday account $72
No annual fee on a Gold Awards Credit Card $144
Total savings $1712

 

What is the fee for the MAV Package?

There is an annual fee of $395 which can only be charged to a Commonwealth Bank credit card or a Commonwealth Bank transaction account.

Am I eligible for the MAV Package?

To be eligible for a MAV Package you must have an initial 'total home lending balance' of at least $150,000. You can take out a MAV Package at any time, however if you have an existing fixed rate loan a concession cannot be applied until the existing fixed rate period expires.

Customers with Low Doc Loans are not eligible to apply for MAV Package.

How do I apply for a MAV Package?

If you would like to apply for a MAV Package you can do so at any time by completing an application through your broker. For more information on the MAV Package click here.

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