Finty
CommBank

CommBank Digi Home Loan (Owner Occupied)

Variable rateOffsetRedraw

A digital home loan with a low variable rate

Written byDavid Boyd
Interest rate a year, from
6.34%
Comparison rate
6.36%
Upfront fees
$680
Annual fee
Not published
Monthly fee
Not published

Monthly repayment

$600,000 over 30 years

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What it would cost

At the lowest rate of 6.34% (variable, live in, principal and interest). The rate you are offered depends on your deposit and the loan you choose, and upfront fees are not included.

Monthly repayment
$3,729
Total repayments
$1,342,618
Interest
$742,618

Rates

Every rate CommBank publishes for this loan. LVR is the loan as a share of the property's value: 80% for a 20% deposit.

RatePropertyRepaymentsLVRInterest rateComparison rate
VariableLive inPrincipal and interestUp to 60%6.34%6.36%
VariableLive inPrincipal and interest60% to 70%6.37%6.39%
VariableLive inPrincipal and interest70% to 80%6.39%6.41%
VariableLive inInterest onlyUp to 60%6.83%6.57%
VariableLive inInterest only60% to 70%6.86%6.60%
VariableLive inInterest only70% to 80%6.88%6.62%

Comparison rates are for an example loan of $150,000 over 25 years. WARNING: This comparison rate is true only for the example given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

Fees and features

Fees

Upfront fees
$680
Annual fee
Not published
Monthly fee
Not published

Features

Offset account
Yes
Redraw
Yes
Highest LVR
80%
Loan amount
From $100,000

How it compares

Against the other home loans we compare, for a home you live in with a 20% deposit. Typical means the middle half of them.

Variable rate

6.39%

For a home you live in, paying principal and interest. Typical is 6.62%.

Comparison rate

6.41%

For the same rate. Typical is 6.70%.

Upfront fees

$680

Typical upfront fees are $600.

Smallest deposit

20%

Most loans need at least 10% of the price.

Pros and cons

Pros

  • An offset account. Money in it is taken off your balance when interest is worked out, so your savings and pay cut the interest while staying easy to reach.
  • Extra repayments. Paying more than the minimum pays the loan off sooner and cuts the interest you pay.
  • Redraw. You can take back extra repayments later if you need the money.
  • No early repayment fee listed. You can pay the loan off early, or refinance, without a penalty. Check the terms to be sure.
  • Interest only available. Some investors use it to keep repayments down for a few years, though the balance doesn't fall in that time.

Cons

  • A $20 late payment fee. Setting up automatic repayments avoids it.

Similar home loans

Home loans from other lenders with a similar starting variable rate, for a home you live in with a 20% deposit.