Back to Quarantined Home Loan Products
| Features and Benefits |
Product Attributes |
Repayment Options |
- The interest rate is set at a margin below the applicable Standard Variable Rate relevant to the customers' loan purpose and repayment type for the first 12 months from the date of first loan drawing.
- At the end of the introductory rate period the interest rate converts to the applicable Standard Variable Rate current at that time.
- Repayment Redraw*
- Mortgage Interest Saver Account (MISA) 100% off-set **
- Interest calculated daily, charged monthly so the customer benefits immediately from every repayment they make.
- Portability - the home loan can move with the customer (conditions and fees apply)
- Variable and Fixed Rate Options (Split Loans). Where a Variable and Fixed progressive drawing is required the loan amount must be drawn down in the following order:
- Any introductory rates (i.e. One Year Guaranteed or 12 Month Discounted), then;
- Any Fixed Interest Rate, and finally
- Any Variable Interest Rate
- Switch to a fixed interest rate at any time
- Statement frequency 6 monthly or on request (a fee applies for requested statements)
- Card access available for Home/ Investment Home Loans/ MISA's in single names or where there is more than one name and the Method of Operation is 'Either to Operate'.
|
- Minimum Loan Amount - $10,000
- Maximum Loan Amount - no maximum
- Minimum Term - no minimum
- 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).
|
* (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).
** (Minimum opening deposit $1000, minimum transaction amount after opening $500. No Commonwealth Bank withdrawal fees apply).
Fact Sheet
Important Things to Know About Home Loans and Credit Card
Home Loan Interest Rates and Fees
Calculators
Credit Policy
Application Process
(interest only is monthly).