Products

Top Up (Loan Increase)

Features	Benefits
2,000,000 maximum amount Customers can Top Up their CBA or Colonial Home Loan or Line Of Credit account using one of the following methods: CBA Branch Network or by phone via Direct Banking (13 2224), CBA NetBank, and Broker. Brokers are able to sell Third Party packages with a CBA branded loan or line of credit with a Top Up application. Minimum increase amount $10,000. If the existing loan is a fixed or guaranteed interest rate: - an Early Repayment Adjustment (ERA) / Early Termination Interest Adjustment (ETIA) will be payable on the existing balance and - the new maximum loan amount must be negotiated at current interest rates. Alternatively, your customer may choose to establish a separate loan account, although a Loan Service Fee will be charged on the additional loan account. Top-ups are allowed on all existing solutions. The interest rate cannot remain on an introductory interest rate unless the Top Up borrowing represents more than 50% of the total new debt. Loans may be rewritten over a maximum Contracted Loan Term of 30 years (from the date of top-up funding), subject to the usual credit test for Acceptable Repayment Term. Existing special repayments must be either included or excluded in the new maximum loan amount contract. Top ups funded on a progressive basis convert to interest only during the progressive period. Interest charging date will convert to 15th monthly until loan is fully drawn. Customers who have a Top up funded on a progressive basis must meet payments by direct entry during the interest only period. Subject to an acceptable security position being maintained, customers may fund entire loan and place funds in either the related account, redraw or MISA facility (this will ensure principal and interest repayments continue). The customers instalment date remains the same and new instalment will apply one full month from anniversary date following funding	Brokers are able to accept applications to Top Up existing CBA and Colonial branded Home Loan and Line of Credit without the need to refinance. Existing customer information in CBA is used to assess the credit risk profile resulting in reduced manual verifications. Customers will keep the same loan/account number Simplified loan documentation, a Notice of Variation (NOV) replaces the full loan contract. Customers can choose to receive a NOV via NetBank. Customers can also opt to receive a SMS alert when NOV is delivered to NetBank. Funding process is automated and removes the need for manual funding. If a Broker Top Ups a CBA loan or line of credit, the following will happen: Brokers will be paid upfront commission on the Top Up amount and trailing commission on loan balance or used credit limit, For a Third Party account being Topped Up by a different Broker, the new Broker will be entitled to upfront and trailing commission. If a Third Party account is Topped Up by CBA (Branch Network/Direct Banking), the following will happen: Broker will continue to get trailing commission on loan balance or used credit limit of the account, and No upfront commission will be paid to the broker. If a Third Party account is Topped Up by the customer via NetBank, the following will happen: Broker will continue to get trailing commission on loan balance or used credit limit of the account, and No upfront commission will be paid to the broker.

Features

Benefits

2,000,000 maximum amount
Customers can Top Up their CBA or Colonial Home Loan or Line Of Credit account using one of the following methods:
- CBA Branch Network or by phone via Direct Banking (13 2224),
- CBA NetBank, and
- Broker.
Brokers are able to sell Third Party packages with a CBA branded loan or line of credit with a Top Up application.
Minimum increase amount $10,000.
If the existing loan is a fixed or guaranteed interest rate:
- an Early Repayment Adjustment (ERA) / Early Termination Interest Adjustment (ETIA) will be payable on the existing balance and
- the new maximum loan amount must be negotiated at current interest rates.
Alternatively, your customer may choose to establish a separate loan account, although a Loan Service Fee will be charged on the additional loan account.
Top-ups are allowed on all existing solutions. The interest rate cannot remain on an introductory interest rate unless the Top Up borrowing represents more than 50% of the total new debt.
Loans may be rewritten over a maximum Contracted Loan Term of 30 years (from the date of top-up funding), subject to the usual credit test for Acceptable Repayment Term.
Existing special repayments must be either included or excluded in the new maximum loan amount contract.
Top ups funded on a progressive basis convert to interest only during the progressive period. Interest charging date will convert to 15th monthly until loan is fully drawn. Customers who have a Top up funded on a progressive basis must meet payments by direct entry during the interest only period. Subject to an acceptable security position being maintained, customers may fund entire loan and place funds in either the related account, redraw or MISA facility (this will ensure principal and interest repayments continue).
The customers instalment date remains the same and new instalment will apply one full month from anniversary date following funding

Brokers are able to accept applications to Top Up existing CBA and Colonial branded Home Loan and Line of Credit without the need to refinance.
Existing customer information in CBA is used to assess the credit risk profile resulting in reduced manual verifications.
Customers will keep the same loan/account number
Simplified loan documentation, a Notice of Variation (NOV) replaces the full loan contract. Customers can choose to receive a NOV via NetBank. Customers can also opt to receive a SMS alert when NOV is delivered to NetBank.
Funding process is automated and removes the need for manual funding.
If a Broker Top Ups a CBA loan or line of credit, the following will happen:
- Brokers will be paid upfront commission on the Top Up amount and trailing commission on loan balance or used credit limit,
- For a Third Party account being Topped Up by a different Broker, the new Broker will be entitled to upfront and trailing commission.
If a Third Party account is Topped Up by CBA (Branch Network/Direct Banking), the following will happen:
- Broker will continue to get trailing commission on loan balance or used credit limit of the account, and
- No upfront commission will be paid to the broker.
If a Third Party account is Topped Up by the customer via NetBank, the following will happen:
- Broker will continue to get trailing commission on loan balance or used credit limit of the account, and
- No upfront commission will be paid to the broker.

Which Applications are not eligible for Top Ups? Refer to Third Party Top Up Application Checklist

Top Up Process