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Eligibility Criteria

This product is available to customers who:

• Are an individual (including trustee of a family, hybrid or unit trust) 18 years of age or above; and
  
• Are living in Australia as:
• An Australian citizen, permanent resident or specified temporary Australian resident; or
  
• A New Zealand citizen; or
  
• An overseas citizen co-borrowing with an Australian citizen or permanent resident; or
  
• Are living and working overseas as an Australian citizen or permanent resident; or
  
• Are an Australian registered, non-trading company; or
  
• Are a trustee of an Australian, non-trading, family, unit or hybrid trust (the beneficiary and Trustee must meet the eligibility criteria of an individual or a company (as above)); and
  
• Provide sufficient security in accordance with CBA's credit assessment criteria, including:
  
• Acceptable residential mortgage; or
  
• Acceptable residential mortgage with supplementary cash held in an eligible CBA account; and/or
  
• Guarantor who supports the loan by providing additional security.
  

Customer objectives, financial situation and needs

This product is for customers who:

• Want a loan with a variable interest rate and access to a flexible range of features for any of the following purposes:
• Purchasing, refinancing or renovating a residential owner occupied or investment property;
  
• Consolidation of personal debt;
  
• Purchase of land;
  
• Personal needs or personal investments other than cryptocurrency or digital assets;
  
• Building and construction finance; and/or
  
• Off the plan purchase.
  
• Are in a financial situation that satisfies CommBank's credit assessment criteria, which include demonstrating the capacity to make the required repayments.
  

Key Features

• A variable interest rate, which means repayments will vary based on changes to the interest rate.
• Multiple Everyday Offset accounts can be linked to the home loan account, where credit balances in the Everyday Offset accounts reduce the balance on which interest is charged on the Standard Variable Rate home loan. For more information on Everyday Offset go to commbank.com.au/everydayoffset.
  
• Unlimited additional repayments (including the ability to pay the loan out early) can be made without additional charge.
  
• The home loan account has a redraw facility which enables customers to access additional repayments made over and above the minimum required repayments.
  
  • Note: Repayment Redraw is not available where there is a second or subsequent mortgage to another financial institution.
• Switch repayment type between principal and interest and interest only repayments (conditions apply).
  
• Pay an annual fee to access a Wealth Package/Mortgage Advantage (which is subject to its own eligibility criteria), to receive a discount on home loan interest rates as well as waiver of specified fees. Eligible Wealth Package/ Mortgage Advantage customers may get access to further interest rate discounts in addition to standard package benefits.
  

Fact Sheet

Important Things to Know About Home Loans and Credit Cards

Home Loan Interest Rates and Fees

Calculators

Credit Policy

Application Process

The target market for this product will be found within the product’s Target Market Determination, available here