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Extra Home Loan / Investment Home Loan

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Features and Benefits Product Attributes Repayment Options
  • Repayment Redraw*
  • Interest calculated daily, charged monthly so the customer benefits immediately from every repayment they make.
  • Interest rate discount**
  • Portability - the home loan can move with the customer (conditions and fees apply)
  • Switch to a fixed interest rate at any time
  • Card access is available for Home / Investment Home Loans***
  • Statement frequency 6 monthly or on request (a fee applies for requested statements)
  • Available for building and construction purpose
  • Loan Increase - borrow additional funds on an existing loan quickly and easily, without taking out a separate loan (an Establishment Fee may apply)
  • Minimum Loan Amount - $10,000
  • Maximum Loan Amount - no maximum
  • Minimum Term - 1 year
  • Maximum Term - 30 years (subject to expected retirement age)
  • Monthly, fortnightly and weekly repayment options are available (interest only is monthly).
  • Payment options of principle and interest and interest only (subject to a maximum of 10 years) are available.
  • Interest only - make interest only payments for a period of 1 to 5 years per IO term with a maximum of 5 IO years in total for Home Loans and 1 to 5 years per IO term with a maximum of 10 IO years in total for Investment Home Loans.
  • Additional repayments of any amount can be made without incurring an Early Repayment Adjustment (ERA).
  • Payments for Building / Construction loans while being progressively drawn will be interest only and will convert to principal and interest repayments once fully funded

 

* (Minimum redraw amounts and fee amounts depending on the redraw method used i.e. over the counter at any Commonwealth Bank branch: $1,000 with a $0 redraw fee, or electronically no minimum with a $0 redraw fee).

** Discount margin off the applicable interest rate available at the time loan documents are issued, for the life of the loan.

***In single names or where there is more than one name and the method of operation is 'Either to Operate'. 

Fact Sheet

Important Things to Know About Home Loans and Credit Cards

Home Loan Interest Rates and Fees

Extra Product Margin

Calculators

Credit Policy

Application Process

(interest only is monthly)
  • Payments for Building / Construction loans while being progressively drawn will be interest only and will convert to principal and interest repayments once fully funded