Commonwealth Bank Home Loan
- Home loans up to $500,000
- Low-interest starting from 1.99%
- Repayment up to 30 years
[Accessed September 14, 2021]
About Commonwealth Bank
Easily and conveniently access a home loan from the most accessible bank in Australia.
Since Commonwealth Bank was launched, they have been goal-driven to provide top-of-the-range financial services and advice to clients from all levels and backgrounds. If you are deaf or have a hearing or speech impairment, you can speak to them through the National Relay Service.
You can speak to them in over 150 languages whether you call them or visit one of their branches. They are inclusive of people with low English literacy levels and have all their fact sheets and important information available in easy-to-understand English. Their Safe & Savvy guide is designed for older people, so they can be informed and avoid financial abuse, fraud, and scams.
Excellent customer service
You can easily apply for a loan online, but if you prefer face-to-face service you can locate your nearest branch on their website and take a trip to one of 950 branches across Australia.
Upon arrival, a concierge will meet you at the entrance and help you to the right queue. They even have ramp access and designed wheelchair turning circles throughout all customer and staff areas.
What’s more, is that they added height-adjustment desks, their ATMs have braille signage as well as their outside trading hour signs. All telling and customer service points have hearing loops. They even designed a few how-to videos to help their customers complete common tasks.
Commonwealth Bank Services
They always have interest rate specials for home loan applicants and cash rewards for people that switch their home loans to them, so keep an eye out.
You can access a fixed rate home loan locked-in from 2.34%p.a. for 2 years while having the freedom of making extra repayments up to $10k at no additional charge. A small administration fee might apply for amounts over $10k in a fixed year and an annual Wealth Package fee of $395 is applicable for this fixed option.
With their extra home loan, you can access a low variable rate starting at 2.29%p.a. and enjoy unlimited extra repayments and redraws together with the option of splitting your loan. This loan has no establishment or monthly loan service fee.
Their standard variable rate home loan will allow you to obtain an interest rate of only 3.85%p.a. with the option to split your loan, make unlimited redraws and additional repayments and qualify for possible rate discounts. You can link multiple offsets and have the benefits of their Wealth Package. This loan only has an annual wealth package fee of $395.
Protection against unexpected events
Get up to 15% discount on your insurance when you combine your home and contents insurance on one policy. Commonwealth Bank offers a wide variety of insurance for every part of your and your family’s life including car, health, life, income protection, and travel insurance. They will help you to choose the right options for you.
Commonwealth Bank – Home loan
- Loan Type Home loans
- Interest Rate 1.99 – 4.52% p/a
- Loan Amount up to $500,000
- Repayment 30 years
Benefits of Commonwealth Bank
- Compare home loans
- Fixed interest rate
- Online application
Commonwealth Bank Home Loans - your partners in the home loan process
How to apply for a home loan?
Steps to apply online with Commonwealth Bank
Step one: You can arrange an appointment with a home loan specialist, call them, visit your nearest branch or quickly apply online within 15 minutes. Select if you are an existing customer or a new customer, then select the home loan type, amount, and term of your choice.
You’ll just need to provide them with a quick breakdown of your sources of income, expenses, assets, and debts such as credit or store cards, personal loans, and other existing debt, so they can have a better idea of your financial position.
Step two: Usually they will be able to provide you with a response right away.
Step three: You will now know how much you will be able to qualify for and with that in mind you can look for the perfect home and make an offer when you are ready.
Visiting a branch
You can visit over 950 branches all over Australia for a personal experience and speak to a specialist face to face. They also have multiple international branches across New Zealand, Asia, North America, and Europe.
Benefits of getting a home loan
- Their interest rates are tailored to ensure you the best deal for your circumstances.
- Qualify for special discounts with their Wealth Package.
- Enjoy flexible loan features where you can make extra repayments, redraw funds when you need them or split your loan.
- Various offset accounts.
- Loan top-ups.
- Repayment holiday options and flexible repayment plans.
- Access property data and insights for the property and suburb you are interested in.
- Explore the market with their helpful tools and resources.
- Highly experienced home lending specialists.
- Access to innovative and award-winning technology such as the CommBank App where you can easily manage your home loan from.
Commonwealth Bank is a trusted & reliable provider of home loans
In our review, Commonwealth Bank adheres to the compliance criteria in accordance with the National Consumer Credit Protection Act 2009, where the granting the loan will not cause financial distress to the consumer.
Commonwealth Bank is a registered credit provider in Australia: ACL 234945
Customer Reviews & Testimonials
We needed advice and when we phoned in we got the best advice and they offered us that we could even come into the office and discuss further.
— Melbourne —
They let you see how much you will be paying and your interest rate on your home loan which is great if you would like to work out your total amount you will be paying back.
— Perth —
You can use the app to see how much of your loan you will need to pay back or how much of your loan has been paid.
— Brisbane —
The awesome thing about the company’s website is that you can get it on your phone or your computer that means that no matter where you are if you need help you can get hold of them.
— Sydney —