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Home Loan Variable: 5.98% (6.35%*) • Home Loan Fixed: 5.79% (6.39%*) • Fixed: 5.79% (6.39%*) • Variable: 5.98% (6.35%*) • Investment IO: 6.14% (6.58%*) • Investment PI: 5.99% (6.61%*)

  Standard Variable Rate Home Loan

A competitive variable rate home loan with access to offset and an extensive range of features.
Category: Home Loans  Last Updated April 22, 2024  Effective December 31, 1999

 General Lending Rates

Rates listed below are for a VARIABLE Owner Occupied P&I product. Additional Information Owner Occupied - Principal and Interest repayment type with Wealth Package
Interest Rate
6.49% PA
Comparison Rate
6.87%PA*
Product rates will vary depending upon your financial position< LVR, and other criteria. The product may also vary depending upon the rate type, repayment type, or loan purpose. We encourage you to contact us for a full understanding of the product and terms.

Product Variations
Product rates and conditions will usually vary based on the LVR and other conditions..
  BALANCE
Minimum: $150000.00 Maximum: $99999999.00
  LVR
  • Lending Rate Type: Variable
  • Interest Rate: 6.49%, Comparison Rate 6.87%
  • Repayment Type: Principal And Interest
  • Loan Purpose: Owner Occupied
  BALANCE
Minimum: $150000.00 Maximum: $99999999.00
  LVR
Minimum: 60.01 PERCENT Maximum: 70 PERCENT
  • Lending Rate Type: Variable
  • Interest Rate: 6.59%, Comparison Rate 6.97%
  • Repayment Type: Principal And Interest
  • Loan Purpose: Owner Occupied
  BALANCE
Minimum: $150000.00 Maximum: $99999999.00
  LVR
Minimum: 70.01 PERCENT Maximum: 80 PERCENT
  • Lending Rate Type: Variable
  • Interest Rate: 6.69%, Comparison Rate 7.06%
  • Repayment Type: Principal And Interest
  • Loan Purpose: Owner Occupied
  BALANCE
Minimum: $150000.00 Maximum: $99999999.00
  LVR
Minimum: 80.01 PERCENT Maximum: 90 PERCENT
  • Lending Rate Type: Variable
  • Interest Rate: 6.94%, Comparison Rate 7.31%
  • Repayment Type: Principal And Interest
  • Loan Purpose: Owner Occupied
  BALANCE
Minimum: $150000.00 Maximum: $99999999.00
  LVR
Minimum: 90.01 PERCENT Maximum: 95 PERCENT
  • Lending Rate Type: Variable
  • Interest Rate: 7.74%, Comparison Rate 8.10%
  • Repayment Type: Principal And Interest
  • Loan Purpose: Owner Occupied
  • Lending Rate Type: Variable
  • Interest Rate: 9.29%, Comparison Rate 9.17%
  • Repayment Type: Interest Only
  • Loan Purpose: Owner Occupied
  BALANCE
Minimum: $150000.00 Maximum: $99999999.00
  LVR
  • Lending Rate Type: Variable
  • Interest Rate: 6.98%, Comparison Rate 7.05%
  • Repayment Type: Interest Only
  • Loan Purpose: Owner Occupied
  BALANCE
Minimum: $150000.00 Maximum: $99999999.00
  LVR
Minimum: 60.01 PERCENT Maximum: 70 PERCENT
  • Lending Rate Type: Variable
  • Interest Rate: 7.08%, Comparison Rate 7.15%
  • Repayment Type: Interest Only
  • Loan Purpose: Owner Occupied
  BALANCE
Minimum: $150000.00 Maximum: $99999999.00
  LVR
Minimum: 70.01 PERCENT Maximum: 80 PERCENT
  • Lending Rate Type: Variable
  • Interest Rate: 7.18%, Comparison Rate 7.25%
  • Repayment Type: Interest Only
  • Loan Purpose: Owner Occupied

 Product Features

  • Redraw Additional Information: Your home loan comes with a fee-free redraw facility. You can make unlimited additional repayments at any time with no fees or penalties. You can access any additional money you pay, over and above your minimum required repayment.
  • Offset Additional Information: An Everyday Offset account is a transaction account that's linked to your Standard Variable Rate home loan or Investment home loan. Any money you put into your Everyday Offset account (e.g. your salary and savings) - whether its $2 or $20,000 - reduces the balance on which we charge interest. This means you'll only be paying interest on the difference. You can have multiple Everyday Offset accounts linked to one home loan. Only available for individual borrowers, not companies or trusts.
  • Other Additional Information: You can apply to top up your home loan by an additional $10,000 or more - subject to equity in your property and our approval.
  • Other Additional Information: Ability to switch your loan or repayment type, for example switching from a Standard Variable Rate to a Fixed Rate home loan or switch from Principal and Interest repayments to Interest Only payments.
  • Other Additional Information: Ability to split your loan balance into multiple loan accounts to take advantage of both fixed and variable rate home loans. This gives you the flexibility to structure your home loan to suit your individual needs by choosing the loan amount, loan type, loan term and repayment structure for each loan.
  • Other Additional Information: Enjoy interest rate discounts, no establishment fees and no monthly loan service fees for eligible home loans, and a fee waiver on one eligible credit card. To receive these benefits you must qualify for the Wealth Package and have an initial package lending balance of at least $150,000 when you apply for a package.
  • Other Additional Information: Additional repayments can be made at any time. No fees apply.
  • Digital Banking Additional Information: Wherever you are in the world, CommBank gives you the choice and control to securely manage all of your accounts on a range of devices, the way you want.
  • Other Additional Information: A guarantor is someone who agrees to be responsible for repaying a debt owed to us under a loan provided to another individual or business, if the borrower(s) can't make their repayments. A guarantor supports the loan by providing us with additional security such as a property they own. By providing a guarantee, we may lend to the borrower in situations where they may not have been able to secure the full amount on their own.
  • Other Additional Information: This loan can be used for the purposes of owner occupied property purchases, refinancing your existing home loan, purchasing of vacant land (non-commercial), personal needs (e.g. home renovations, consolidation of personal debt, personal investments), off the plan purchases, bridging loan and building/construction purposes.
  • Other Additional Information: This loan cannot be used for business purposes
  • Other Additional Information: 1-30 years

 Product Eligibility

  • Natural Person - Individuals.
  • Business - Non-individual Borrowers. Additional Information: Non-trading Companies and/or Family/Unit/Hybrid Trusts.
  • Min Age - 18. Additional Information: Individuals (natural persons, including as Trustee of a Family Trust) must have the legal capacity to enter into the loan contract, provide acceptable identification documentation and be 18 years or older.
  • Other Additional Information: Applications for home loans are subject to the Bank's normal credit approval.
  • Residency Status Additional Information: Individuals must either be living in Australia as an Australian citizen, New Zealand citizen, Australian permanent resident or specified temporary Australian resident; or be an overseas citizen co-borrowing with an Australian citizen or Australian permanent resident or be living overseas as an Australian citizen or Australian permanent resident.

 Bank Fees and Charges

  • Establishment Fee (Upfront), Amount: 600.00. Additional Information: Payable to cover the costs the Bank incurs in establishing your loan and unless it is waived by us, is payable at the date of settlement or funding. It does not include other fees and charges also payable at the time of entering into the loan such as those associated with the settlement of the loan or the particular circumstances of the loan (excluding Off the Plan Purchase). Split Loans with Variable and Fixed Rate Options - $600 for each of the 1st two loans plus $300 for each additional loan.
  • Loan Service Fee (Periodic), Amount: 8.00. Additional Information: For home loans, unless it is waived by us, the fee is charged monthly to each Loan Account on the repayment due date.
  • Establishment Fee (off The Plan Purchase) (Upfront), Amount: 800.00. Additional Information: Payable for Off the Plan Purchases for new and existing home loan (variable rate only), to cover the costs the Bank incurs in establishing your loan and unless it is waived by us, is payable at the date of settlement or funding. It does not include other fees and charges also payable at the time of entering into the loan such as those associated with the settlement of the loan or the particular circumstances of the loan
  • Settlement Fee (Event), Amount: 200.00. Additional Information: $150 if the disclosure date in the contract is before 03/02/12. Payable regardless of whether we attend settlement or not, when the Bank or our representatives, arranges the funding of the loan.
  • Settlement Cheque Fee (Transaction), Amount: 15.00. Additional Information: Payable if you require additional cheques (more than two) to fund/settle the loan. Fee applied per cheque.
  • Late Payment Fee (Event), Amount: 20.00. Additional Information: For home loans - If your account falls into arrears, you will be charged a late payment fee. The fee is payable on the fifth business day after the monthly repayment due date. We will continue to charge the fee monthly until you repay all arrears or you enter into an arrangement with us for the full repayment of those arrears (even if you repay your loan weekly or fortnightly). If you break that arrangement the fee will continue to apply.
  • Settlement Fee (discharge) (Event), Amount: 350.00. Additional Information: Payable if you discharge the loan, i.e. either sell part or all of the Security Property or refinance your Loan with another credit provider.
  • Additional Security Fee (Event), Amount: 150.00. Additional Information: Payable if we require you to provide more than one security (i.e. the security used to support the repayment of the loan), and one or more of these securities is 'new' i.e. does not already secure another loan. Fee is applied per 'new' security.
  • Periodical Payments Or Transfers (Event), Amount: 1.80. Additional Information: $1.80 plus transfer fee, bank cheque fee and postage as applicable. Payable if you arrange a periodical payment or ask us to transfer funds.
  • Progressive Drawing Fee (Event), Amount: 75.00. Additional Information: Payable when the Bank makes a number of progressive payments to fund your loan amount. Payable at your final drawing. Fee is applied per drawing.
  • Security Guarantee Fee (Upfront), Amount: 200.00. Additional Information: Payable if a guarantor is listed on the loan schedule. Fee is applied per borrower.
  • Security Substitution Fee (Event), Amount: 300.00. Additional Information: Payable if you ask us to substitute one of your securities with another.
  • Special Clearance Fees (Event), Amount: 15.00. Additional Information: $15 per cheque plus any out of pocket cost. Payable if you ask us for a special clearance on a cheque deposited in the Loan Account.
  • Stop Payment Notice Fee (Event), Amount: 15.00. Additional Information: Payable if you ask us to stop payment on a cheque you have written. Fee is applied per request.
  • Top Up Establishment Fee (Event), Amount: 300.00. Additional Information: Unless waived by us, it is charged when you increase an existing home loan/Viridian Line of Credit.
  • Voucher Fee (Event), Amount: 4.00. Additional Information: Payable if you ask us to retrieve a voucher (i.e. deposit, credit or debit slips) that records a transaction on the Loan Account. $4 per voucher (minimum charge $12) or $60 per hour spent to retrieve voucher(s).
  • Trust Investigation Fee And Utc Clause 2.1 (Event), Amount: 0.00. Additional Information: To be advised when we calculate the fee. Payable if we incur investigation cost for loans involving a Trust. This fee applies even if we don't give you a loan. (Refer to UTC Clause 2.1)
  • Wealth Package (Periodic), Amount: 395.00. Additional Information: $395 per year. The fee is charged annually to your nominated account when you add a Wealth Package (non-broker customers only) or Mortgage Advantage (broker customers only) to your eligible home loan to access special discounts. To be eligible for a package you must have an initial 'package lending balance' (total of all eligible home loans and the credit limit of Viridian Line of Credit) of at least $150,000 at the time of applying.
  • Lenders' Mortgage Insurance/low Deposit Premium (Variable), Amount: Not Listed.. Additional Information: Lenders' Mortgage Insurance (LMI) or Low Deposit Premium (LDP) may apply where there is an increased risk associated with a home loan. The circumstances of your loan determine whether a loan will incur LMI or LDP. They are a one-off cost added to the total loan amount. The LMI premium is passed on to you and is not an establishment fee. The LDP is a bank fee and not an establishment fee.

 Limitations & Restrictions (Constraints)

  • Opening Balance of 10000.00 Additional Information: Minimum loan $10,000. You can apply to top up your home loan by an additional $10,000 or more - subject to equity in your property and our approval.

 Document Downloads

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