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Extra Home Loan

A home loan with a low interest rate, low fees and flexible features
Category: Home Loans  Last Updated May 6, 2021  Effective December 31, 1999

 General Lending Rates

Rates listed below are for a VARIABLE OWNER_OCCUPIED PRINCIPAL_AND_INTEREST. Additional Information Owner Occupied with Principal and Interest repayment type
Interest Rate
2.69%PA
Comparison Rate
2.7%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..
  LVR
Minimum: 70.01 PERCENT Maximum: 80 PERCENT
  • Lending Rate Type: Variable
  • Interest Rate: 2.69%, Comparison Rate 2.7%
  • Repayment Type: Principal And Interest
  • Loan Purpose: Owner Occupied
  LVR
Minimum: 80.01 PERCENT Maximum: 95 PERCENT
  • Lending Rate Type: Variable
  • Interest Rate: 3.13%, Comparison Rate 3.14%
  • Repayment Type: Principal And Interest
  • Loan Purpose: Owner Occupied
  LVR
  • Lending Rate Type: Variable
  • Interest Rate: 3.25%, Comparison Rate 2.91%
  • Repayment Type: Interest Only
  • Loan Purpose: Owner Occupied
  LVR
Minimum: 70.01 PERCENT Maximum: 80 PERCENT
  • Lending Rate Type: Variable
  • Interest Rate: 3.25%, Comparison Rate 2.91%
  • Repayment Type: Interest Only
  • Loan Purpose: Owner Occupied

 Product Features

  • Redraw Additional Information: Your loan comes with a repayment redraw facility. Giving you access to additional repayments you made that put you ahead of your loan repayment schedule.
  • 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.
  • 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. Switching to an Extra Home Loan from another CBA Home/Investment Home Loan product requires a minimum of $150,000 in new borrowings at the time of the switch.
  • 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.
  • 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 are 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.
  • Other Additional Information: Additional repayments can be made at any time. No fees apply.
  • Offset Additional Information: Not available.
  • 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 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), personal needs (e.g. home renovations, consolidation of personal debt and personal investments), off the plan purchases and building/construction purposes.
  • Other Additional Information: This loan cannot be used for bridging loans and business purposes.
  • 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. Additional Information: Not available for non-personal borrowers.
  • Min Age - 18. Additional Information: Individuals (natural persons) 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: 0.00. 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: 0.00. 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.
  • Settlement Fee (Event), Amount: 200.00. Additional Information: 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.
  • 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: 0.00. 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).

 Limitations & Restrictions (Constraints)

  • Opening Balance of 150000.00 Additional Information: For an Extra Home Loan with a life of loan discount, there is a minimum loan amount of $150,000 for new borrowings on existing CBA Home/Investment home loans.
  • Opening Balance of 10000.00 Additional Information: For an Extra Home Loan with a life of Loan discount, there is a minimum loan amount of $10,000 for new loans.

 Document Downloads

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