UPDATED JUL 15, 2026

CommBank Home Loans: The 2026 Review

Unlock the largest credit card rewards in Australia with CommBank. Award-winning service for first home buyers. Watch out for high discharge fees. Ready to explore your options?

Bheja Verdict

Very Good

4.2/5
✓
Competitive interest rates
✓
Great features: redraw facility, extra repayments
Check Eligibility

CommBank Home Loans At a Glance

🏷️Best Rate Available

6.09%

Variable • Owner Occupied

💳Application Fee

$300

Upfront fee applies

📅Monthly Fee

$10

Ongoing service fee

Loan Range:$10K - $100.0M
LVR:Up to 95%
Products:71 variations
Offset Account:Available

Current CommBank Home Loan Rates

Last updated: July 2026

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Average Rate
6.54%
Best Rate
6.14%
Monthly Payment
$3,043
Advanced
  • CommBank

    Digi Home Loan (Owner Occupied)

    CommBank

    20%-30% DepositOffsetRedraw
    6.14%
    Interest Rate
    Variable
    6.27%
    Comparison Rate*
    $3,043
    per month
    Principal And Interest
    Visit Lender’s Site
    Fees:
    Application
    $300
    Ongoing/month
    $10
    Discharge
    $350    + other fees may apply
  • CommBank

    Standard Variable Rate Home Loan (Owner Occupied)

    CommBank

    20%-30% DepositOffsetRedraw
    6.49%
    Interest Rate
    Variable
    6.87%
    Comparison Rate*
    $3,157
    per month
    Principal And Interest
    Visit Lender’s Site
    Fees:
    Ongoing/year
    $33
    Discharge
    $350    + other fees may apply
  • CommBank

    Simple Home Loan (Owner Occupied)

    CommBank

    20%-30% DepositOffsetRedraw
    6.49%
    Interest Rate
    Variable
    6.74%
    Comparison Rate*
    $3,157
    per month
    Principal And Interest
    Visit Lender’s Site
    Fees:
    Ongoing/month
    $10
    Discharge
    $350    + other fees may apply
  • CommBank

    Standard Variable Rate Home Loan (Owner Occupied)

    CommBank

    10%-20% DepositOffsetRedraw
    6.79%
    Interest Rate
    Variable
    7.16%
    Comparison Rate*
    $3,256
    per month
    Principal And Interest
    Visit Lender’s Site
    Fees:
    Ongoing/year
    $33
    Discharge
    $350    + other fees may apply
  • CommBank

    Simple Home Loan (Owner Occupied)

    CommBank

    10%-20% DepositOffsetRedraw
    6.79%
    Interest Rate
    Variable
    7.04%
    Comparison Rate*
    $3,256
    per month
    Principal And Interest
    Visit Lender’s Site
    Fees:
    Ongoing/month
    $10
    Discharge
    $350    + other fees may apply

* Comparison rate is calculated on a loan amount of $150,000 over 25 years. Rates and fees are subject to change. Terms and conditions apply.

+ Only key fees (application, discharge, ongoing) are displayed - other fees such as redraw, administration, and processing fees may also apply.

CommBank Product Statistics

Real-time insights and market analysis

CommBank offers 16 home loan products across 71 variations, the average variable rate is 6.75% p.a., the best available rate is 6.09% p.a..

Average Variable Rate

6.75%

46 products

Average Fixed Rate

6.70%

25 products

Best Available Rate

6.09%

Variable • Owner Occupied • P&I

Total Products

16

71 variations

Fee Summary

Application Fee

$300 - $750

Monthly Fee

$10

Discharge Fee

$350

Late Payment Fee

$20

Key Features

Across CommBank's range: 46 include an offset account, 71 offer redraw, 71 allow extra repayments, 42 support split loans.

Offset Account
65%
Redraw Facility
100%
Extra Repayments
100%
Split Loan
59%

Product Ranges

CommBank's interest rates range from 6.09% to 7.84% p.a., maximum LVR from 60% to 95%, loan amounts span $10,000 to $100,000,000.

Interest Rates6.09% — 7.84%
Max LVR60% — 95%
Loan Amount$10K — $100.0M

Disclaimer: The key features displayed highlight what's available across the lender's home loan range. Individual products and variations may differ. Use the product table to search for a loan with the specific features you're looking for.

How CommBank Compares

FEATURECommBankANZWestpacNATIONAL AUSTRALIA BANK
Best Variable Rate
6.09%
6.39%
5.99%
6.09%
Best Fixed Rate (3yr)
6.49%BEST
6.49%
6.54%
6.49%
Application Fee
$300
$0
$0
$0
Monthly Admin Fee
$10
$0
$0
$0
Offset Account
Redraw Facility
Product Variations
71
128
173
147
💡

Bheja Insight: CommBank offers offset accounts like most big 4 banks, helping reduce interest while keeping funds accessible.

About CommBank

Company overview and contact information

CommBank, officially known as the Commonwealth Bank of Australia, is one of the Big Four banks in Australia. Established in 1911, it was initially government-owned and became fully privatised in 1996. Headquartered in Sydney, CommBank is publicly listed on the Australian Securities Exchange, with a diverse shareholder base. It operates under the regulatory oversight of APRA and holds an Australian Financial Services Licence (AFSL 234945).

CommBank offers a comprehensive range of home loan products, with 16 options and 71 variations, featuring interest rates from 6.09% to 7.84%. These products cater to a wide array of customers, including first-time buyers and investors. The bank is renowned for its flexibility, allowing customers to split loans and choose various repayment options. CommBank also provides digital solutions, enabling a seamless online application process that can be completed in as little as 10 minutes.

What sets CommBank apart is its award-winning service, particularly for first home buyers, and its extensive digital capabilities. The bank also offers the CommBank Awards Program, the largest credit card rewards initiative in Australia, allowing customers to earn and redeem points for various benefits. CommBank maintains traditional broker commission structures, ensuring competitive and transparent dealings with its clients.

Company Details

Legal Name: Commonwealth Bank of Australia
ABN: 48123123124
Established: 1911
Headquarters: Sydney, NSW
Ownership: Publicly listed company
AFSL: 234945

Key Features

CommBank offers a range of home loan features designed to provide flexibility, cost savings, and digital convenience for borrowers. Key offerings include offset accounts, competitive rate discounts, and robust digital tools for managing loans online.

Offset Account

CommBank's Everyday Offset Account reduces the interest you pay by offsetting your home loan balance with your savings. You can link up to two offset accounts to a Simple Home Loan, providing significant interest savings. A monthly Offset Feature fee applies.

Additional Repayments

Make additional repayments of up to $10,000 annually on fixed rate loans without penalties, excluding Interest in Advance periods. This feature allows you to reduce your loan balance faster, potentially saving on interest costs.

Rate Discounts and Fee Waivers

Eligible customers can benefit from interest rate discounts and fee waivers under the Wealth Package or Mortgage Advantage. An annual package fee of $395 applies, offering long-term savings on your home loan.

Redraw Facility

While redraw is not available during a fixed rate period, it becomes accessible at the expiry of the fixed rate if additional repayments were made. This allows you to access extra funds when needed, with adjustments ensuring zero balance at loan term end.

Loan Splitting

Split your loan into multiple accounts with different types and rates, such as fixed and variable. This provides flexibility in managing repayments and interest exposure. Administrative fees and early repayment adjustments may apply.

Guarantor Support

A guarantor can provide additional security, allowing borrowers to secure loans they might not otherwise qualify for. This can be beneficial for first-time buyers or those with limited deposits.

Digital Banking Tools

Manage your home loan securely from anywhere using CommBank's online banking platforms, including the CommBank app and NetBank. These tools offer convenience and control over your financial management.

Interest-Only Periods

CommBank offers interest-only periods of up to 5 years for owner-occupied loans and 15 years for investment loans, providing flexibility in managing cash flow during the loan term.

Top-Up Options

Borrow an additional $10,000 or more, subject to equity and approval. This feature supports financial flexibility for renovations or other personal needs, though fees and adjustments may apply if breaking a fixed rate contract.

Fees & Charges

CommBank offers a comprehensive range of home loan products with various fees, including upfront, ongoing, and conditional charges. Borrowers should be aware of potential variations and waivers that may apply based on specific loan conditions.

Fee Type
Amount
Description
Voucher Fee
Variable
Charged if you request retrieval of a voucher recording a transaction on the Loan Account. $4 per voucher (minimum charge $12) or $60 per hour spent.
Settlement Cheque Fee
$30
Applied per cheque if more than two cheques are required to fund/settle the loan.
Annual Service Fee
$33/year
Applicable if your home loan is with the former State Bank of Victoria and specified in the terms and conditions.
Settlement Fee (Discharge)
$350
Charged if you discharge the loan by selling the property or refinancing with another provider.
Early Repayment Adjustment Fee
Variable
Applies if you make partial prepayments exceeding $10,000 on a fixed rate loan or fully prepay during a capped rate period.
Late Payment Fee
$20
Charged monthly if your account falls into arrears and remains unpaid after the due date.
Lenders' Mortgage Insurance/Low Deposit Premium
Variable
May apply where there is increased risk associated with a home loan. The cost is added to the total loan amount.
Home Loan Package Fee
$395/year
Charged annually for loans with package benefits under the Wealth Package or Mortgage Advantage.
Establishment Fee
$300-$600
Covers costs incurred in establishing your loan. The fee varies by loan type and may be waived under certain conditions.
Offset Feature Fee
$10/month
Charged if an Everyday Offset Account is linked to a Simple Home Loan Account during the repayment period.
Rate Lock Fee
$750
Non-refundable fee for locking in interest rates on 1-5 Year Fixed Rate home loans, applicable per rate lock.
Switching Fee
$50
Charged when switching your loan purpose, repayment type, or product type.
Additional Security Fee
$150
Charged per new security added to the loan.
Progressive Drawing Fee
$75
Charged per drawing when funds are progressively drawn down.
Security Guarantee Fee
$200
Charged per borrower when a security guarantee is provided.
Paper Statement Fee
$2.50
Charged per statement if you receive paper statements.

Fees subject to change. Refer to lender documentation for current rates.

Eligibility Criteria

CommBank offers home loans to individuals who meet specific age, residency, and financial criteria, ensuring accessibility for both first-time buyers and those refinancing from other institutions.

Must be at least 18 years old.
Must be an Australian citizen or permanent resident.
Loan to value ratio (LVR) must not exceed 80% unless specific conditions apply.
Proof of stable income and employment is required, including bank statements and payslips.
Applications are subject to CommBank's standard credit approval process.
Must be a natural person, not a legal entity, applying for the loan.
Available for customers purchasing or refinancing from another financial institution to CommBank.
Lenders Mortgage Insurance (LMI) required for deposits under 20% or above 80% LVR.

Important Notes

  • LMI is required for loans with an LVR above 80%, impacting the overall cost.
  • CommBank offers special programs for first home buyers, including discounted rates and fee waivers.
  • Digital applications must be completed through CommBank's online platforms, such as NetBank or the CommBank app.
  • Check the details of a particular offer before making an application.

CommBank Home Loan Pros & Cons

Our expert take on whether CommBank is right for you

Pros

  • +Significant savings on large loans
  • +Flexible loan splitting and repayment options
  • +Award – winning service for first-time buyers
  • +Comprehensive digital management tools

Cons

  • –Above market variable rates
  • –High discharge and annual fees
  • –Customer service complaints

Best For

  • First-time home buyers
  • Borrowers seeking flexible loan options
  • Customers wanting digital management features
  • Large loan borrowers seeking savings

Not Ideal For

  • Borrowers prioritizing top-tier customer service
  • Those looking for the lowest variable rates
💡

Bheja Verdict: CommBank offers competitive savings on large loans and flexible options for first-time buyers, but some may find their customer service lacking.

Expert Secrets (Why Use Us?)

Insider knowledge about CommBank that most borrowers don't know

LMI Cost Examples

1New loan amount: $450,000 + LMI $9,000 = $459,000
2For a $500,000 loan at 85% LVR, LMI costs $6,000.
3At 90% LVR, the LMI for a $500,000 loan increases to $12,500.
4A $500,000 loan at 95% LVR incurs an LMI of $21,000.

Fee Waivers

$0 monthly account fee for the CommBank Everyday Smart Access account if you're under 30, deposit $2,000 monthly, or meet other conditions.

Offset Benefits

A $10,000 offset account can save you $51/month, totaling $612/year.
A $25,000 offset account can save you $127/month, totaling $1,524/year.
A $50,000 offset account can save you $254/month, totaling $3,048/year.
A $100,000 offset account can save you $508/month, totaling $6,096/year.

Admin & Logistics (The Help Desk)

Everything you need to manage your loan

Application Process

5 Steps
1
Complete the Discharge Form: Access the Discharge/Refinance Authority Form online through the CommBank website. (Tip: Ensure all information is accurate to avoid delays.)
2
Submit the Form: Submit the completed form via the provided link on the CommBank website. (Tip: Keep a digital copy of the submitted form for your records.)
3
Pay the Discharge Fee: A discharge fee of $350 is payable if you are selling part or all of the security property or refinancing with another lender. (Tip: Ensure funds are available to cover the fee to prevent processing delays.)
4
Wait for Processing: The bank will process your discharge request, which typically takes 10-15 business days. (Tip: Contact customer service at 13 2221 if you have any questions during this period.)
5
Receive Confirmation: You will receive confirmation once the discharge is complete. (Tip: Verify all details in the confirmation to ensure accuracy.)

Processing Times

Discharge Process10-15 business days

Required Documents

Discharge/ Refinance authority form
💡

Pro Tips

  • Ensure all loan payments are current before initiating the discharge process.
  • Submit the discharge form at least two weeks before your planned settlement date to avoid delays.
  • Contact customer service for clarification on any fees or steps in the process.
  • Keep a copy of all correspondence and forms submitted for your records.
  • Consider potential additional costs, such as settlement cheque fees, when planning your budget.

CommBank Mortgage Calculator

Estimate your repayments using current CommBank home loan rates

Over 30 years, borrowing $480,000 at 6.09%, total cost including interest and known fees could be around $1,053,923. Estimated monthly repayment: $2,905.68.

Estimated total cost over 30 years
$1,053,923
Estimated repayment
$2,905.68
monthly repayment
Amount you borrow: $480,000 · At 6.09% · Variable — can change with the market

Known fees in this estimate

Application fee
$300
Settlement fee
$30
Discharge fee
$350
Monthly fee
$20 / month
Total ongoing fees (30 yrs)
$7,200
How is this calculated?

Estimated total cost includes the amount borrowed, interest over the full loan term, and any upfront, ongoing, and discharge fees published by the lender. It does not include stamp duty, LMI, or savings from an offset account.

The revert rate is the rate your loan may switch to when a fixed, introductory, or interest-only period ends. Where a lender hasn't published this rate, we use an estimate.

Cost breakdown

Amount you borrow
$480,000
Total interest
$566,043
Upfront fees
$330
Ongoing fees
$7,200
Discharge fee
$350
Estimated total cost
$1,053,923
  • These figures are estimates only. Your actual repayments and costs may differ. Confirm all details with your lender before making a decision.
  • Where a lender hasn't published their revert rate (the rate that applies after a fixed, introductory, or interest-only period ends), we estimate it. Your repayments may change when this period ends.
  • Split loans and offset accounts aren't included in this estimate.
  • For product comparison and comparison rates, see the rates table above.

Still Unsure? Let a human handle it.

Not sure if CommBank is right for you? Our brokers can help you compare options.

Frequently Asked Questions

CommBank typically takes 3-5 business days for conditional approval on simple applications. More complex applications might take longer, depending on the details involved.

4.8(4 reviews)

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