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- 1 year Fixed Rate Home Loan
1 year Fixed Rate Home Loan
- Owner Occupied
- Fixed 1 year
- 5% min deposit
- Interest Only
Interest rate p.a.
6.59%
Comparison rate* p.a.
8.29%
1 year Fixed Rate Home Loan
- Owner Occupied
- Fixed 1 year
- 5% min deposit
- Interest Only
Interest rate p.a.
6.59%
Comparison rate* p.a.
8.29%
Commonwealth Bank Fixed - 1 year Rate Home Loan overview
For Wealth Package Fixed Rate Home Loan (Interest Only) 1 Year
Principal & Interest (P&I)
Loan type
Loan to value ratio
Interest rate
Comparison rate
Interest only
Loan type
Loan to value ratio
Interest rate
Comparison rate
Details
Maximum LVR
95%
Total repayments
Interest rate type
Fixed - 1 year
Borrowing range
$150k - $100m
Suitable for
Owner Occupiers
Loan term range
1 - 30 years
Repayment type
Interest only
Applicable states
ACT, NSW, NT, QLD, SA, TAS, VIC, WA
Repayment options
Monthly
Target Market Determination
Visit Commonwealth Bank of Australia to view Target Market Determination.
Features
Extra repayments
Allowed with restrictions
Redraw facility
Offset account
Split interest facility
Loan portability
Repayment holiday available
Allow guarantors
Available for first home buyers
Other benefits
Make your loan suit you with freedom to split your loan, rate lock and pay interest in advance. Lock in a great rate so you know what your repayments will be and can confidently plan for the future. Enjoy discounts on eligible loans and credit cards with the Wealth Package. Choose to pay Principal and Interest weekly, fortnightly or monthly. Or Interest Only monthly. $600 upfront establishment fee and $8 monthly loan service fee waived with Wealth Package.
Fees
Total estimated upfront fees
$200
Application fee
$0
Legal fee
$0
Valuation fee
$0
Settlement fee
$200
Other upfront fee
$0
Ongoing fee
$395
Discharge fee
$350
Other Restrictions
At the end of the fixed rate period, the loan converts to the Standard Variable Package Rate relevant to your loan purpose and repayment type at that time, or you can choose a new fixed rate period. $750 rate lock fee for each rate lock request. Interest Only payments available for up to 5 years for Owner Occupied Home Loans and up to 10 years for Investment Home Loans.
Pros and Cons
For 1 year Fixed Rate Home Loan
Benefits
- Interest rates ranked in the best 20%
- Suitable for low deposits
- Parents can sign as guarantor
- Split account option
Drawbacks
- Limited extra repayments
- No redraw and no offset
- Loan reverts to higher rate after fixed period
- Ongoing fee
- Higher than average upfront fee
- Discharge fee at end of loan
- No repayment holidays
