CommBank Standard Variable Rate Home Loan (Investment)
Variable rateOffsetRedraw
A competitive variable rate home loan with access to offset and an extensive range of features.
- Interest rate a year, from
- 6.79%
- Comparison rate
- 7.16%
- Upfront fees
- $580
- Annual fee
- $428
- Monthly fee
- Not published
Monthly repayment
$600,000 over 30 years
What it would cost
At the lowest rate of 6.79% (variable, investment, 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
- $3,908
- Total repayments
- $1,406,720
- Interest
- $806,720
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.
| Rate | Property | Repayments | LVR | Interest rate | Comparison rate |
|---|---|---|---|---|---|
| Variable | Investment | Principal and interest | Up to 60% | 6.79% | 7.16% |
| Variable | Investment | Principal and interest | 60.1% to 70% | 6.84% | 7.21% |
| Variable | Investment | Principal and interest | 70% to 80% | 6.94% | 7.31% |
| Variable | Investment | Principal and interest | 80% to 90% | 7.29% | 7.66% |
| Variable | Investment | Principal and interest | 90% to 95% | 8.09% | 8.45% |
| Variable | Investment | Interest only | Up to 60% | 7.05% | 7.25% |
| Variable | Investment | Interest only | 60% to 70% | 7.10% | 7.30% |
| Variable | Investment | Interest only | 70% to 80% | 7.20% | 7.40% |
| Variable | Investment | Interest only | 80% to 90% | 7.55% | 7.75% |
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
- $580
- Annual fee
- $428
- Monthly fee
- Not published
Features
- Offset account
- Yes
- Redraw
- Yes
- Highest LVR
- 95%
- Loan amount
- From $250,000
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.
Upfront fees
$580
Typical upfront fees are $600.
Annual fee
$428
A typical annual fee is $350.
Smallest deposit
5%
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.
- 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
- An annual fee. $428 a year, above the typical $350. Over a 30 year loan that's $12,840, though package fees often bring rate discounts.
- An early repayment fee. Paying the loan off early or refinancing can cost a fee, which cuts into what you save by repaying sooner.
- A $20 late payment fee. Setting up automatic repayments avoids it.