Back to Extra Home Loan
| Features and Benefits |
Product Attributes |
Repayment Options |
- Repayment Redraw*
- Interest calculated daily, charged monthly so the customer benefits immediately from every repayment they make.
- Discount on variable interest rate**
- Save on interest with a higher discounted variable interest rate for the introductory period, and at the end of the introductory period, a lower discount for the remaining life of the loan
- 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)
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- Minimum Loan Amount - $150,000
- Maximum Loan Amount - no maximum
- Minimum Term - 1 year
- Maximum Term - 30 years (subject to expected retirement age)
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- Monthly, fortnightly and weekly repayment options are available (interest only is monthly).
- Payment options of principal and interest and interest only available.
- Interest only - make interest only payments for a maximum period of 10 years for Investment Home loans and 5 years of Owner-Occupied Home loans, as long as there is a minimum of five years remaining on the Contracted Loan Term.
- Additional repayments of any amount can be made without incurring an Early Repayment Adjustment (ERA).
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* (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).
** Product discount margin off the applicable variable interest rate relevant to the customers loan purpose and repayment type available at the time loan documents are issued.
***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 Home Loan Product Margin (Introductory Variable Rate)
Calculators
Credit Policy
Application Process
(interest only is monthly).