Commonwealth Bank Extra Loan


The Commonwealth Bank Extra Loan can be taken out by both owner-occupier and investor borrowers.

Depending on the purpose of the loan, the interest rate may vary. That is, investors may pay a slightly higher rate than those looking to live in the property.

The rates offered on the Commonwealth Bank Extra Loan are slightly higher than the market average. However, when compared with the rates offered by the big four banks, the rate is somewhat competitive.

Commonwealth Bank says this rate is discounted for the life of the loan by up to 0.26 percentage points off the Extra Variable rate or the Investment Extra Variable Rate.

The Commonwealth Bank Extra Loan offers a redraw facility, but does not offer a mortgage offset account.

The loan also offers some flexible options for borrowers, including what the bank calls ‘property share’. This means the borrower can share the cost of the home with family or friends while retaining control of their finances.

It also offers guarantor support, as well as deposit guarantee if your deposit is tied up in another property for instance, and bridging finance is also available on this loan.

Who is the Commonwealth Bank Extra Loan good for?

The Commonwealth Bank Extra Loan is available for both investors and owner-occupier borrowers.

It might suit a borrower who prefers the certainty of banking with one of Australia’s largest banks or who wants to use a guarantor to sign on the loan.

The Commonwealth Bank Extra Loan might also suit someone who is selling their property and their deposit is tied up in their current home, as the loan offers a deposit guarantee and bridging finance is also available.

Review - What RateCity says

The Commonwealth Bank Extra Loan is a discounted variable rate mortgage available for both fixed and variable. The loan has upfront fees and an ongoing monthly fee charged.

A discharge fee to close the loan is also charged. Despite the ongoing fees, the Commonwealth Bank Extra Loan does not have the full suite of features offered on other home loans. For instance, there is no mortgage offset offered, however, a redraw facility is available.

Commonwealth Bank Extra Loan Options

The Commonwealth Bank Extra Loan is also available with a two-year introductory rate period, for both investors and owner-occupier borrowers.

Advertised rate
Comparison rate*
Monthly repayment
Go To Site

Variable Rates from


Advertised rate


Comparison rate
  • Redraw facility available.
  • Guarantor support available.
  • Available for owner-occupier and investor borrowers.
  • No mortgage offset account.
  • Monthly fees charged.
  • Upfront fees charged.

Available for new loans.

Minimum borrowing of $150,000 for existing customers refinancing.

Must meet lender’s serviceability requirements.

Suitable For
  • First Home Buyers
  • Owner-Occupiers
  • Refinancers
  • Investors
  • Estimated upfront fees: $200
  • Discharge fees: $350
  • Ongoing fees: $0 monthly

The Commonwealth Bank Extra Loan has an establishment fee.

It also charges an ongoing monthly fee. By comparison many home loans do not charge any ongoing monthly or annual fees.

The loan also charges a discharge fee at the time of closing the loans.

  • Redraw facility
  • 100% offset account
  • Unlimited extra repayments
  • Weekly repayments
  • Fortnightly repayments
  • Monthly repayments
About Commonwealth Bank of Australia

The Commonwealth Bank, or CBA as it is also known, is one of Australia’s major banks. It has the biggest share of the mortgage market in Australia. Founded in 1911 as a government bank, Commonwealth Bank is now publically owned. With branches throughout Australia and overseas it offers convenience to customers. It also offers a wide variety of financial services including personal banking, business banking and financial advice.

Compare your product with the big 4 banks, or add more products to compare