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2 year fixed rate Home Loan

Keep your budget on track with competitive fixed rates and a range of repayment options.
Category: Home Loans  Last Updated May 6, 2021  Effective December 31, 1999

 General Lending Rates

Rates listed below are for a FIXED OWNER_OCCUPIED PRINCIPAL_AND_INTEREST. Additional Information Owner Occupied with Principal and Interest repayment type
Interest Rate
2.09%PA
Comparison Rate
4.25%PA*
Product rates will vary depending upon your financial position. The product may also vary depending upon the rate type, repayment type, or loan purpose. We encourage you to contact us for a full understanding of the product and terms.

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Product Variations
Product rates and conditions will usually vary based on the LVR and other conditions..
  BALANCE
Minimum: $150000.00 Maximum: $99999999.00
  • Lending Rate Type: Fixed
  • Interest Rate: 1.94%, Comparison Rate 3.93%
  • Repayment Type: Principal And Interest
  • Loan Purpose: Owner Occupied
  • Lending Rate Type: Fixed
  • Interest Rate: 3.54%, Comparison Rate 4.51%
  • Repayment Type: Interest Only
  • Loan Purpose: Owner Occupied
  BALANCE
Minimum: $150000.00 Maximum: $99999999.00
  • Lending Rate Type: Fixed
  • Interest Rate: 3.39%, Comparison Rate 4.17%
  • Repayment Type: Interest Only
  • Loan Purpose: Owner Occupied

 Product Features

  • Other Additional Information: If the fixed interest rate changes between the disclosure date on your loan contract and the loan funding date, the applicable fixed interest rate on your loan will be the rate at the date of your loan funding - which could be a higher (or lower) rate. If you request we can rate lock your fixed interest rates prior to the loan being funded, for a non-refundable fee. If we agree, we'll lock your fixed interest rates for 90 days from the date we process your rate lock request and the interest rates on your loan won't change for your elected fixed rate period. You can ask us to break the rate lock (for example, if rates go down) and revert to the rates available on the funding date.
  • Other Additional Information: You can make additional repayments of up to $10,000 for each year of your fixed rate loan, without incurring additional charges. Excluding Interest in advance periods. Administrative Fee and an Early Repayment Adjustment (ERA) may apply. See the 'Additional repayments' section in the Fixed Rate Home Loan fact sheet for more details.
  • Redraw Additional Information: Redraw is not available during a fixed rate period. However, if you do make additional repayments during a fixed rate period, or had available redraw when you entered your fixed rate period, the redraw feature will become available at the expiry of the fixed rate. The amount available is adjusted so that at the end of your agreed loan term, both your loan balance and the available redraw will be zero.
  • Other Additional Information: Through a top up you can borrow an additional $10,000 or more - subject to equity held in your property and our approval. However it's important to know that a top up would break your fixed rate contract and Administrative Fee and an Early Repayment Adjustment (ERA) may apply. Please contact us to discuss this. They are not permitted during the Interest in Advance period.
  • Other Additional Information: Switching is a change to one or more aspects of your loan's terms and conditions, for example switching from a variable rate to a fixed rate or switching from Interest Only payments to Principal and Interest repayments. You may be charged an Administrative Fee and Early Repayment Adjustment if you switch out of your fixed rate loan.
  • Other Additional Information: Splitting is when you divide one loan into two or more loan accounts, generally with different loan types, repayment types or interest rates. You may be charged an Early Repayment Adjustment fee if you split your fixed rate loan.
  • Other Additional Information: Enjoy interest rate discounts, no establishment fees and no monthly loan service fees for eligible home loans, and no annual fee on one eligible credit card. To receive these benefits you must qualify for the Wealth Package and have an initial package lending balance of at least $150,000 when you apply for a package.
  • Other Additional Information: Lenders' Mortgage Insurance (LMI) or Low Deposit Premium (LDP) may apply where there is an increased risk associated with a home loan. The circumstances of your loan determine whether a loan will incur LMI or LDP. They is a one-off non-refundable, non-transferable cost added to the total loan amount. The LMI premium is not a bank fee or an establishment fee. The LDP is a bank fee and not an establishment fee.
  • Offset Additional Information: Offset accounts are not available during a fixed rate term.
  • Digital Banking Additional Information: Wherever you are in the world, CommBank gives you the choice and control to securely manage all of your accounts on a range of devices, the way you want.
  • Other Additional Information: A guarantor is someone who agrees to be responsible for repaying a debt owed to us under a loan provided to another individual or business if the borrower (or borrowers) cannot make their repayments. A guarantor supports the loan by providing us with an additional security such as their home. By providing a guarantee, we may lend to the borrower in situations where they may not have been able to secure the full amount of the loan they require.
  • Other Additional Information: This loan can be used for the purposes of owner occupied property purchases, refinancing your existing home loan, purchasing of vacant land (non-commercial) and personal needs (e.g. home renovations, consolidation of personal debt and personal investments).
  • Other Additional Information: This loan cannot be used for business purposes, bridging loans, off the plan purchases and building/construction purposes
  • Other Additional Information: At Maturity of the fixed term, the Fixed Rate Home loan will switch to SVR Home loan and the interest rate will revert to the SVR Rate applicable to your loan and repayment type.
  • Other Additional Information: For eligible owner occupied home loans, Home Loan Compassionate Care is complimentary protection that helps support you by paying your home loan repayments for around 12 months if you, your spouse or dependant passes away or is medically certified with a terminal illness. Please refer to Home Loan Compassionate Care guide for more information.
  • Other Additional Information: 1-30 years

 Product Eligibility

  • Natural Person - Individuals.
  • Business - Non-individual Borrowers. Additional Information: Non-trading Companies and/or Family/Unit/Hybrid Trusts.
  • Min Age - 18. Additional Information: Individuals (natural persons, including as Trustee of a Family Trust) must have the legal capacity to enter into the loan contract, provide acceptable identification documentation and be 18 years or older.
  • Other Additional Information: Applications for home loans are subject to the Bank's normal credit approval.
  • Residency Status Additional Information: Individuals must either be living in Australia as an Australian citizen, New Zealand citizen, Australian permanent resident or specified temporary Australian resident; or be an overseas citizen co-borrowing with an Australian citizen or Australian permanent resident or be living overseas as an Australian citizen or Australian permanent resident.

 Bank Fees and Charges

  • Establishment Fee (Upfront), Amount: 600.00. Additional Information: Payable to cover the costs the Bank incurs in establishing your loan and unless it is waived by us, is payable at the date of settlement or funding. It does not include other fees and charges also payable at the time of entering into the loan such as those associated with the settlement of the loan or the particular circumstances of the loan.
  • Loan Service Fee (Periodic), Amount: 8.00. Additional Information: For home loans, unless it is waived by us, the fee is charged monthly to each Loan Account on the repayment due date.
  • Rate Lock Fee (Event), Amount: 750.00. Additional Information: Payable if you elect to lock in your interest rates. This non-refundable fee applies to 1-5 Year Fixed Rate home loans only. We will lock in the interest rates for 90 days from the date we process your request. Fee applies per rate lock.
  • Settlement Fee (Event), Amount: 200.00. Additional Information: $150 if the disclosure date in the contract is before 03/02/12. Payable regardless of whether we attend settlement or not, when the Bank or our representatives, arranges the funding of the loan.
  • Settlement Cheque Fee (Transaction), Amount: 15.00. Additional Information: Payable if you require additional cheques (more than two) to fund/settle the loan. Fee applied per cheque.
  • Late Payment Fee (Event), Amount: 20.00. Additional Information: For home loans - If your account falls into arrears, you will be charged a late payment fee. This fee is payable on the fifth business day after the monthly repayment due date. We will continue to charge the fee monthly until you repay all arrears or you enter into an arrangement with us for the full repayment of those arrears (even if you repay your loan weekly or fortnightly). If you break that arrangement the fee will continue to apply.
  • Settlement Fee (discharge) (Event), Amount: 350.00. Additional Information: Payable if you discharge the loan, i.e. either sell part or all of the Security Property or refinance your Loan with another credit provider.
  • Administrative Fee And Early Repayment Adjustment (Event), Amount: 50.00. Additional Information: Administrative fee is payable if you repay your home loan in full before the fixed interest rate period expires; or make partial prepayments which exceed $10,000 in any year of your fixed rate loan. In addition to the Administrative Fee, an Early Repayment Adjustment will also be payable which is calculated and advised when the prepayments are made on your fixed rate home loan.
  • Access Fee (overseas Transactions) Through The Automatic Teller Machines Of Asb Bank In New Zealand, Commonwealth Bank In Indonesia And Commonwealth Bank In Vietnam. (Withdrawal), Amount: 2.00. Additional Information: Access Fees (overseas transactions) through the Automatic Teller Machines of ASB Bank in New Zealand, Commonwealth Bank in Indonesia and Commonwealth Bank in Vietnam.
  • Access Fees (overseas Transactions) Through The Cirrus, Mastercard Or Visa Plus Atm Cash Withdrawal In Foreign Currency. (Withdrawal), Amount: 5.00. Additional Information: Access Fees (overseas transactions) through the Cirrus, MasterCard or Visa Plus ATM cash withdrawal in foreign currency.
  • Access Fees (overseas Transactions) Through The Cirrus, Mastercard Or Visa Plus Atm Cash Withdrawal In Foreign Currency. (Withdrawal), Amount: Not Listed.. Additional Information: Access Fees (overseas transactions) through the Cirrus, MasterCard or Visa Plus ATM cash withdrawal in foreign currency.
  • Access Fees (overseas Transactions) Through The Maestro (eftpos) Or Debit Mastercard Purchase In Australian Dollars When Overseas. (Purchase), Amount: Not Listed.. Additional Information: Access Fees (overseas transactions) through the Maestro (EFTPOS) or Debit MasterCard purchase in Australian dollars when overseas.
  • Access Fees (overseas Transactions) Through The Maestro (eftpos) Or Debit Mastercard Purchase In Foreign Currency (or Transaction That Involves A Currency Conversion). (Purchase), Amount: Not Listed.. Additional Information: Access Fees (overseas transactions) through the Maestro (EFTPOS) or Debit MasterCard purchase in foreign currency (or transaction that involves a currency conversion).
  • Additional Security Fee (Event), Amount: 150.00. Additional Information: Payable if we require you to provide more than one security (i.e. the security used to support the repayment of the loan), and one or more of these securities is ‘new’ i.e. does not already secure another loan. Fee is applied per 'new' security.
  • Atm Fees Within Australia (Event), Amount: 0.00. Additional Information: The Bank does not charge Access Fees on withdrawals or account balance enquiries on transaction and savings accounts (including MISA), home loans, investment home loans and lines of credit through non-Commonwealth Bank ATMs in Australia. However, ATM owners may charge a fee, which will be disclosed at the time of the transaction. If you proceed with the transaction, the ATM owner's fee will be debited to your account (in addition to the withdrawal amount, if applicable). You should check the ATM owner's fees that apply carefully before completing transactions at non-Commonwealth Bank ATMs in Australia.
  • Periodical Payments Or Transfers (Event), Amount: 1.80. Additional Information: $1.80 plus transfer fee, bank cheque fee and postage as applicable.
  • Progressive Drawing Fee (Event), Amount: 75.00. Additional Information: Payable when the Bank makes a number of progressive payments to fund your loan amount. Payable at your final drawing. Fee is applied per drawing.
  • Security Guarantee Fee (Upfront), Amount: 200.00. Additional Information: Payable if a guarantor is listed on the loan schedule. Fee is applied per borrower.
  • Security Substitution Fee (Event), Amount: 300.00. Additional Information: Payable if you ask us to substitute one of your securities with another.
  • Special Clearance Fees (Event), Amount: 15.00. Additional Information: $15 per cheque plus any out of pocket cost. Payable if you ask us for a special clearance on a cheque deposited in the Loan Account.
  • Stop Payment Notice Fee (Event), Amount: 15.00. Additional Information: Payable if you ask us to stop payment on a cheque you have written. Fee is applied per request.
  • Top Up Establishment Fee (Event), Amount: 300.00. Additional Information: Unless waived by us, it is charged when you increase an existing home loan/Viridian Line of Credit.
  • Voucher Fee (Event), Amount: 4.00. Additional Information: Payable if you ask us to retrieve a voucher (i.e. deposit, credit or debit slips) that records a transaction on the Loan Account. $4 per voucher (minimum charge $12) or $60 per hour spent to retrieve voucher(s).
  • Trust Investigation Fee And Utc Clause 2.1 (Event), Amount: 0.00. Additional Information: Payable if we incur investigation cost for loans involving a Trust. This fee applies even if we don't give you a loan. (Refer to UTC Clause 2.1).
  • Wealth Package (Periodic), Amount: 395.00. Additional Information: Add a Wealth Package to your eligible home loan to enjoy interest rate discounts and no establishment fees for eligible home loans. To receive these benefits you must qualify for the Wealth Package and have an initial package lending balance of at least $150,000 when you apply for a package. Fee is charged annually.

 Limitations & Restrictions (Constraints)

  • Opening Balance of 10000.00 Additional Information: For a Fixed Rate Loan, there is a minimum loan amount of $10,000 for new loans.

 Document Downloads

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