Commonwealth Bank of Australia

Fixed Rate Investment Loan (Principal and Interest) 3 Years

Advertised Rate

2.84%

Fixed - 3 years

Comparison Rate*

4.67%

Maximum LVR
90%
Real Time Rating™

1.50

/ 5
Monthly Repayment

$1,398

based on $300,000 loan amount for 25 years

Advertised Rate

2.84%

Fixed - 3 years

Comparison Rate*

4.67%

Maximum LVR
90%
Real Time Rating™

1.50

/ 5
Monthly Repayment

$1,398

based on $300,000 loan amount for 25 years

Calculate repayment for Commonwealth Bank product

I'd like to borrow

$

Loan term

years

Your estimated repayment

$1,398

based on $300,000 loan amount for 25 years

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Pros and Cons

Pros and Cons

  • Lower than average interest rate
  • Parents can sign as guarantor
  • Split account option
  • Limited extra repayments
  • No redraw and no offset
  • Ongoing fee
  • Discharge fee at end of loan

Commonwealth Bank Features and Fees

Commonwealth Bank Features and Fees

Details

Maximum LVR

90%

Total Repayments

Next LVR

Interest rate type

Fixed - 3 years

Borrowing range

Suitable for

Investors

Loan term range

1 - 30 years

Principal & interest

Interest only

Applicable states

ACT, NSW, NT, QLD, SA, TAS, VIC, WA

Make repayments

Fortnightly, Monthly, Weekly

Features

Extra repayments

Yes - limited to $10000

Redraw facility

Split interest facility

Loan portable

Repayment holiday available

Allow guarantors

Available for first home buyers

Fees

Total estimated upfront fees

$800

Application fee

$600

Valuation fee

$0

Settlement fee

$200

Other upfront fee

$0

Ongoing fee

$8 monthly

Discharge fee

$350

Application method

Online

Phone

In branch

Specials
  • Cashback $2,000 cashback for refinancers
    Apply before 31 December 2020 and have their loan funded by 31 March 2021. Minimum refinance amount $250,000. Eligibility criteria applies. This offer is not available for Bridging Loans.

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. Choose to pay Principal and Interest weekly, fortnightly or monthly. Or Interest Only monthly.

Other Restrictions

At the end of the fixed rate period, the loan converts to the Standard Variable 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.

Pros and Cons

  • Lower than average interest rate
  • Parents can sign as guarantor
  • Split account option
  • Limited extra repayments
  • No redraw and no offset
  • Ongoing fee
  • Discharge fee at end of loan

Commonwealth Bank Features and Fees

Details

Maximum LVR

90%

Total Repayments

Next LVR

Interest rate type

Fixed - 3 years

Borrowing range

Suitable for

Investors

Loan term range

1 - 30 years

Principal & interest

Interest only

Applicable states

ACT, NSW, NT, QLD, SA, TAS, VIC, WA

Make repayments

Fortnightly, Monthly, Weekly

Features

Extra repayments

Yes - limited to $10000

Redraw facility

Split interest facility

Loan portable

Repayment holiday available

Allow guarantors

Available for first home buyers

Fees

Total estimated upfront fees

$800

Application fee

$600

Valuation fee

$0

Settlement fee

$200

Other upfront fee

$0

Ongoing fee

$8 monthly

Discharge fee

$350

Application method

Online

Phone

In branch

Specials
  • Cashback $2,000 cashback for refinancers
    Apply before 31 December 2020 and have their loan funded by 31 March 2021. Minimum refinance amount $250,000. Eligibility criteria applies. This offer is not available for Bridging Loans.

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. Choose to pay Principal and Interest weekly, fortnightly or monthly. Or Interest Only monthly.

Other Restrictions

At the end of the fixed rate period, the loan converts to the Standard Variable 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.

Commonwealth Bank is available through brokers

FAQs

Mortgage Calculator, Loan Amount

How much you intend to borrow. 

Mortgage Calculator, Loan Term

How long you wish to take to pay off your loan. 

Mortgage Calculator, Loan Results

These are the loans that may be suitable, based on your pre-selected criteria. 

Mortgage Calculator, Repayment Type

Will you pay off the amount you borrowed + interest or just the interest for a period?

How is the flexibility score calculated?

Points are awarded for different features. More important features get more points. The points are then added up and indexed into a score from 0 to 5.

Why should you trust Real Time Ratings?

Real Time Ratings™ was conceived by a team of data experts who have been analysing trends and behaviour in the home loan market for more than a decade. It was designed purely to meet the evolving needs of home loan customers who wish to merge low cost with flexible features quickly. We believe it fills a glaring gap in the market by frequently re-rating loan products based on the changes lenders make daily.

Real Time Ratings™ is a new idea and will change over time to match the frequently-evolving demands of the market. Some things won’t change though – it will always rate all relevent products in our database and will not be influenced by advertising.

If you have any feedback about Real Time Ratings™, please get in touch.

Does Real Time Ratings' work for people who already have a home loan?

Yes. If you already have a mortgage you can use Real Time RatingsTM to compare your loan against the rest of the market. And if your rate changes, you can come back and check whether your loan is still competitive. If it isn’t, you’ll get the ammunition you need to negotiate a rate cut with your lender, or the resources to help you switch to a better lender.

What is a building in course of erection loan?

Also known as a construction home loan, a building in course of erection (BICOE) loan loan allows you to draw down funds as a building project advances in order to pay the builders. This option is available on selected variable rate loans.

What is breach of contract?

A failure to follow all or part of a contract or breaking the conditions of a contract without any legal excuse. A breach of contract can be material, minor, actual or anticipatory, depending on the severity of the breaches and their material impact.

Mortgage Calculator, Repayment Frequency

How often you wish to pay back your lender. 

What is an ombudsman?

An complaints officer – previously referred to as an ombudsman -looks at formal complaints from customers about their credit providers, and helps to find a fair and independent solution to these problems.

These services are handled by the Australian Financial Complaints Authority, a non-profit government organisation that addresses and resolves financial disputes between customers and financial service providers.

Mortgage Calculator, Deposit

The proportion you have already saved to go towards your home. 

Mortgage Balance

The amount you currently owe your mortgage lender. If you are not sure, enter your best estimate.

How common are low-deposit home loans?

Low-deposit home loans aren’t as common as they once were, because they’re regarded as relatively risky and the banking regulator (APRA) is trying to reduce risk from the mortgage market.

However, if you do your research, you’ll find there is still a fairly wide selection of banks, credit unions and non-bank lenders that offers low-deposit home loans.

What is a construction loan?

A construction loan is loan taken out for the purpose of building or substantially renovating a residential property. Under this type of loan, the funds are released in stages when certain milestones in the construction process are reached. Once the building is complete, the loan will revert to a standard principal and interest mortgage.

How does a redraw facility work?

A redraw facility attached to your loan allows you to borrow back any additional repayments that you have already paid on your loan. This can be a beneficial feature because, by paying down the principal with additional repayments, you will be charged less interest. However you will still be able to access the extra money when needed.

Do other comparison sites offer the same service?

Real Time RatingsTM is the only online system that ranks the home loan market based on your personal borrowing preferences. Until now, home loans have been rated based on outdated data. Our system is unique because it reacts to changes as soon as we update our database.

Mortgage Calculator, Interest Rate

The percentage of the loan amount you will be charged by your lender to borrow. 

What is a valuation and valuation fee?

A valuation is an assessment of what your home is worth, calculated by a professional valuer. A valuation report is typically required whenever a property is bought, sold or refinanced. The valuation fee is paid to cover the cost of preparing a valuation report.

How often is your data updated?

We work closely with lenders to get updates as quick as possible, with updates made the same day wherever possible.