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Commonwealth Bank Home Loans

Australia's #1 lender. Trusted by millions. Best-in-class banking app and offset accounts.

Variable Rate from

5.89%

Fixed Rate from

5.99%

Comparison Rate

6.04%

About Commonwealth Bank

Commonwealth Bank (CBA) is Australia's largest bank and home loan lender, with over 800,000 home loan customers. Founded in 1911, CBA has been helping Australians buy homes for over a century.

Known for market-leading technology (CommBank app), extensive branch network (over 1,000 branches), and comprehensive product range. While not always the cheapest, CBA offers stability, reliability, and excellent customer service.

Pros & Cons

✓ Pros

Australia's most trusted bank brand
Best-in-class mobile banking app
Excellent offset accounts (100% offset)
1,000+ branches nationwide
Fast approval for existing customers
Strong serviceability for high incomes
Great for package deals (banking + home loan discounts)

✗ Cons

Not the cheapest rates (typically 0.1-0.2% above cheapest)
Higher fees than online lenders
Strict serviceability criteria
Can be slow for complex applications
Limited flexibility for self-employed/complex income
Higher LMI premiums for low deposits

Who is CBA Good For?

✓ Existing CBA Customers

If you already bank with CBA, you'll get faster approval, potential rate discounts, and seamless integration with your everyday banking.

✓ High-Income Earners

CBA has strong serviceability for professionals and high earners. Good for borrowing larger amounts ($1M+).

✓ Tech-Savvy Borrowers

Best banking app in Australia. Great for those who prefer digital banking but want the security of a big bank.

✓ First Home Buyers (with savings)

Good for first home buyers with genuine savings and stable employment. Accepts First Home Guarantee (5% deposit, no LMI).

✗ Who Should Look Elsewhere

Bargain hunters chasing absolute lowest rate (try UBank, Athena, ING instead)
Self-employed with complex income (try NAB, Macquarie, or non-banks)
Bad credit or defaults (CBA rarely approves - try Pepper, Liberty instead)
Very small loans under $150K (higher fees don't justify it)

CBA Home Loan Products

Standard Variable Home Loan

CBA's flagship product. Includes 100% offset account, unlimited extra repayments, redraw facility.

Rate: 5.89% p.a. (owner-occupied, P&I, LVR <80%)

Fixed Rate Home Loan

Lock in your rate for 1-5 years. Rate certainty but limited flexibility (capped extra repayments).

Rate: 5.99% p.a. (3-year fixed, owner-occupied, P&I)

Package Discounts

Bundle your home loan with CBA transaction accounts, credit cards. Get up to 0.7% rate discount.

Annual fee: $395/year (can be worth it for large loans $500K+)

Investment Property Loans

Competitive rates for investors. Interest-only available. Up to 4 investment properties.

Rate: 6.29% p.a. (investment, variable, P&I)

Key Features

Offset Account

100% offset. Every dollar saves you interest. Linked to award-winning CommBank app.

Redraw Facility

Access extra repayments anytime via app or online. Instant, free withdrawals.

Extra Repayments

Unlimited extra payments on variable loans. Pay off your loan faster, no penalties.

Split Loans

Combine fixed and variable. Hedge against rate changes. E.g., 50% fixed, 50% variable.

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