Commonwealth Bank home loan repayment calculator

Thinking about taking out a home loan with Commonwealth Bank? Use our home loan calculator to see how much you’d have to repay under different borrowing scenarios. You can also see how Commonwealth Bank home loans compare with other options.

I am an

With a repayment type

Borrow amount

$

Deposit amount %

Loan term

Your estimated repayments

at interest rate 3.35 %

Total interest payable

$0

Total amount payable

$0

Pros and cons

  • One of the largest banks in Australia gives you access to a large branch network and over 4000 ATMs Australia-wide.
  • Outstanding online banking portal and mobile banking options.
  • Package options available.
  • Wide variety of home loan products available.
  • Interest rates may be higher than the market average on some loans.
  • Most loans charge both significant upfront fees as well as ongoing monthly fees.

Commonwealth Bank home loans rates

Product
Advertised Rate
Total estimated upfront fees
Comparison Rate*
Ongoing fee
Go to site
Company

3.35%

Variable

$200

3.36%

$0 monthly
Commonwealth Bank of Australia
More details

3.45%

Variable

$200

3.46%

$0 monthly
Commonwealth Bank of Australia
More details

3.91%

Variable

$200

3.58%

$0 monthly
Commonwealth Bank of Australia
More details

3.65%

Variable

$200

3.66%

$0 monthly
Commonwealth Bank of Australia
More details

4.01%

Variable

$200

3.68%

$0 monthly
Commonwealth Bank of Australia
More details

3.80%

Variable

$200

3.81%

$0 monthly
Commonwealth Bank of Australia
More details

3.40%

Intro 48 months

$200

3.85%

$0 monthly
Commonwealth Bank of Australia
More details

4.33%

Variable

$200

3.93%

$0 monthly
Commonwealth Bank of Australia
More details

3.40%

Intro 24 months

$200

3.95%

$0 monthly
Commonwealth Bank of Australia
More details

4.48%

Variable

$200

4.08%

$0 monthly
Commonwealth Bank of Australia
More details

3.96%

Intro 48 months

$200

4.08%

$0 monthly
Commonwealth Bank of Australia
More details

3.70%

Intro 48 months

$200

4.18%

$0 monthly
Commonwealth Bank of Australia
More details

3.96%

Intro 24 months

$200

4.19%

$0 monthly
Commonwealth Bank of Australia
More details

3.70%

Intro 24 months

$200

4.29%

$0 monthly
Commonwealth Bank of Australia
More details

3.49%

Fixed - 5 years

$200

4.46%

$395 annually
Commonwealth Bank of Australia
More details

4.38%

Intro 48 months

$200

4.47%

$0 monthly
Commonwealth Bank of Australia
More details

3.28%

Fixed - 3 years

$200

4.54%

$395 annually
Commonwealth Bank of Australia
More details

3.64%

Fixed - 5 years

$800

4.54%

$8 monthly
Commonwealth Bank of Australia
More details

4.38%

Intro 24 months

$200

4.58%

$0 monthly
Commonwealth Bank of Australia
More details

3.18%

Fixed - 2 years

$200

4.61%

$395 annually
Commonwealth Bank of Australia
More details

3.89%

Fixed - 3 years

$200

4.67%

$395 annually
Commonwealth Bank of Australia
More details

3.43%

Fixed - 3 years

$800

4.68%

$8 monthly
Commonwealth Bank of Australia
More details

3.79%

Fixed - 2 years

$200

4.71%

$395 annually
Commonwealth Bank of Australia
More details

4.09%

Fixed - 4 years

$200

4.72%

$395 annually
Commonwealth Bank of Australia
More details

4.33%

Variable

$200

4.75%

$395 annually
Commonwealth Bank of Australia
More details

3.33%

Fixed - 2 years

$800

4.78%

$8 monthly
Commonwealth Bank of Australia
More details

3.89%

Fixed - 1 year

$200

4.79%

$395 annually
Commonwealth Bank of Australia
More details

4.04%

Fixed - 3 years

$800

4.83%

$8 monthly
Commonwealth Bank of Australia
More details

4.24%

Fixed - 4 years

$800

4.84%

$8 monthly
Commonwealth Bank of Australia
More details

4.54%

Fixed - 1 year

$200

4.84%

$395 annually
Commonwealth Bank of Australia
More details

4.64%

Fixed - 4 years

$200

4.88%

$395 annually
Commonwealth Bank of Australia
More details

3.94%

Fixed - 2 years

$800

4.89%

$8 monthly
Commonwealth Bank of Australia
More details

3.89%

Fixed - 5 years

$200

4.94%

$395 annually
Commonwealth Bank of Australia
More details

4.89%

Fixed - 5 years

$200

4.98%

$395 annually
Commonwealth Bank of Australia
More details

4.04%

Fixed - 1 year

$800

4.99%

$8 monthly
Commonwealth Bank of Australia
More details

4.79%

Fixed - 4 years

$800

5.02%

$8 monthly
Commonwealth Bank of Australia
More details

4.04%

Fixed - 5 years

$800

5.04%

$8 monthly
Commonwealth Bank of Australia
More details

4.19%

Fixed - 5 years

$200

5.04%

$395 annually
Commonwealth Bank of Australia
More details

3.69%

Fixed - 3 years

$200

5.05%

$395 annually
Commonwealth Bank of Australia
More details

4.69%

Fixed - 1 year

$800

5.05%

$8 monthly
Commonwealth Bank of Australia
More details

4.93%

Variable

$800

5.08%

$8 monthly
Commonwealth Bank of Australia
More details

5.04%

Fixed - 5 years

$800

5.11%

$8 monthly
Commonwealth Bank of Australia
More details

3.99%

Fixed - 3 years

$200

5.12%

$395 annually
Commonwealth Bank of Australia
More details

3.59%

Fixed - 2 years

$200

5.14%

$395 annually
Commonwealth Bank of Australia
More details

4.34%

Fixed - 5 years

$800

5.17%

$8 monthly
Commonwealth Bank of Australia
More details

3.89%

Fixed - 2 years

$200

5.19%

$395 annually
Commonwealth Bank of Australia
More details

4.39%

Fixed - 4 years

$200

5.19%

$395 annually
Commonwealth Bank of Australia
More details

3.84%

Fixed - 3 years

$800

5.20%

$8 monthly
Commonwealth Bank of Australia
More details

4.82%

Variable

$200

5.23%

$395 annually
Commonwealth Bank of Australia
More details

5.42%

Variable

$800

5.26%

$8 monthly
Commonwealth Bank of Australia
More details

4.14%

Fixed - 3 years

$800

5.28%

$8 monthly
Commonwealth Bank of Australia
More details

4.54%

Fixed - 4 years

$800

5.31%

$8 monthly
Commonwealth Bank of Australia
More details

3.74%

Fixed - 2 years

$800

5.32%

$8 monthly
Commonwealth Bank of Australia
More details

4.14%

Fixed - 1 year

$200

5.32%

$395 annually
Commonwealth Bank of Australia
More details

4.91%

Variable

$200

5.32%

$395 annually
Commonwealth Bank of Australia
More details

4.39%

Fixed - 1 year

$200

5.34%

$395 annually
Commonwealth Bank of Australia
More details

4.89%

Fixed - 4 years

$200

5.34%

$395 annually
Commonwealth Bank of Australia
More details

4.04%

Fixed - 2 years

$800

5.38%

$8 monthly
Commonwealth Bank of Australia
More details

5.04%

Fixed - 4 years

$800

5.48%

$8 monthly
Commonwealth Bank of Australia
More details

4.29%

Fixed - 1 year

$800

5.53%

$8 monthly
Commonwealth Bank of Australia
More details

4.54%

Fixed - 1 year

$800

5.56%

$8 monthly
Commonwealth Bank of Australia
More details

5.51%

Variable

$800

5.65%

$8 monthly
Commonwealth Bank of Australia
More details

5.29%

Variable

$200

5.69%

$395 annually
Commonwealth Bank of Australia
More details

5.89%

Variable

$800

5.80%

$8 monthly
Commonwealth Bank of Australia
More details

5.78%

Variable

$200

6.17%

$395 annually
Commonwealth Bank of Australia
More details

6.28%

Variable

$800

6.47%

$12 monthly
Commonwealth Bank of Australia
More details

Commonwealth Bank of Australia customer service

With Netbank one of the most well known online banking portals in the country, Commonwealth Bank makes banking with them fairly easy to do. They also offer:

  • Customer service centre (phone)
  • Mobile app
  • Online banking (Netbank)
  • Email
  • Live Chat
  • Large branch network Australia-wide
  • Dedicated home loan specialists

How to Apply

When applying for a Commonwealth Bank home loan, some of the below documentation may be required:

  • You will need to be 18 years old or over to apply for a home loan.
  • You will need to have identity docuemnts available.
  • You will need to prove your income and savings to the bank when you apply for your loan, so you’ll need documents like payslips, tax returns and credit card receipts.

About Commonwealth Bank home loans

The Commonwealth Bank is a home loan lender that offers home loans to suit almost every type of mortgage borrower in Australia:

  • First home buyers
  • Upgraders
  • Investors
  • Refinancers
  • Renovators
  • Self-employed (low-doc loans)
  • SMSFs (superannuation home loans)
  • Seniors (reverse mortgage)

Borrowers who take out Commonwealth Bank home loans can choose from a variety of interest rate options:

  • Principal-and-interest home loans
  • Interest-only home loans
  • Variable interest rates
  • Fixed interest rates
  • Split loans

Some home loans also come with (permanent) interest rate discounts and (temporary) introductory interest rate offers.

Mortgage borrowers may also be able to earn discounts by combining a Commonwealth Bank home loan with other CBA products, such as credit cards and insurance.Commonwealth Bank isn’t Australia’s biggest home loan lender because it offers the lowest mortgage rates or most flexible products or best customer service. Instead, it attracts customers because of its large branch network, consistent marketing and strong brand.

Commonwealth Bank home loans review

Many mortgage customers regard Commonwealth Bank home loans as a ‘safe’ option. Because CBA is so big and so well-known, and because everyone knows somebody who is a CBA customer, a Commonwealth Bank mortgage feels like a safe choice in a confusing mortgage market.

Commonwealth Bank has a home loan product for almost every type of mortgage borrower out there. You can use CBA for ‘vanilla’ home loans, whether you’re an owner-occupier, an investor, a refinancer or an upgrader. You can also turn to CBA for more specialist home loans, such as low-doc loans, reverse mortgages and SMSF mortgages. And no matter where in Australia you live, there’s likely to be a CBA branch close by.

But although Commonwealth Bank is a safe and convenient option, it’s not a cheap option. CommBank’s interest rates tend to range from moderately low to moderately high, as do its home loan fees.

What happens to my home loan when interest rates rise?

If you are on a variable rate home loan, every so often your rate will be subject to increases and decreases. Rate changes are determined by your lender, not the Reserve Bank of Australia, however often when the RBA changes the cash rate, a number of banks will follow suit, at least to some extent. You can use RateCity cash rate to check how the latest interest rate change affected your mortgage interest rate.

When your rate rises, you will be required to pay your bank more each month in mortgage repayments. Similarly, if your interest rate is cut, then your monthly repayments will decrease. Your lender will notify you of what your new repayments will be, although you can do the calculations yourself, and compare other home loan rates using our mortgage calculator.

There is no way of conclusively predicting when interest rates will go up or down on home loans so if you prefer a more stable approach consider opting for a fixed rate loan.

How do you determine which home loan rates/products I’m shown?

When you check your home loan rate, you’ll supply some basic information about your current loan, including:

  • the amount owing on your mortgage
  • the value of your property
  • your current interest rate
  • name of existing lender
  • property address

We’ll compare this information to the home loan options in the RateCity database, and show you which home loan products you may be eligible to apply for.

Does the Rate Guarantee apply to discounted interest rate offers, such as honeymoon rates?

No. Temporary discounts to home loan interest rates will expire after a limited time, so they aren’t valid for comparing home loans as part of the Rate Guarantee.

However, if your home loan has been discounted from the lender’s standard rate on a permanent basis, you can check if we can find an even lower rate that could apply to you.

What is a variable home loan?

A variable rate home loan is one where the interest rate can and will change over the course of your loan. The rate is determined by your lender, not the Reserve Bank of Australia, so while the cash rate might go down, your bank may decide not to follow suit, although they do broadly follow market conditions. One of the upsides of variable rates is that they are typically more flexible than their fixed rate counterparts which means that a lot of these products will let you make extra repayments and offer features such as offset accounts.

What is a bad credit home loan?

A bad credit home loan is a mortgage for people with a low credit score. Lenders regard bad credit borrowers as riskier than ‘vanilla’ borrowers, so they tend to charge higher interest rates for bad credit home loans.

If you want a bad credit home loan, you’re more likely to get approved by a small non-bank lender than by a big four bank or another mainstream lender.

How can I get a home loan with bad credit?

If you want to get a home loan with bad credit, you need to convince a lender that your problems are behind you and that you will, indeed, be able to repay a mortgage.

One step you might want to take is to visit a mortgage broker who specialises in bad credit home loans (also known as ‘non-conforming home loans’ or ‘sub-prime home loans’). An experienced broker will know which lenders to approach, and how to plead your case with each of them.

Two points to bear in mind are:

  • Many home loan lenders don’t provide bad credit mortgages
  • Each lender has its own policies, and therefore favours different things

If you’d prefer to directly approach the lender yourself, you’re more likely to find success with smaller non-bank lenders that specialise in bad credit home loans (as opposed to bigger banks that prefer ‘vanilla’ mortgages). That’s because these smaller lenders are more likely to treat you as a unique individual rather than judge you according to a one-size-fits-all policy.

Lenders try to minimise their risk, so if you want to get a home loan with bad credit, you need to do everything you can to convince lenders that you’re safer than your credit history might suggest. If possible, provide paperwork that shows:

  • You have a secure job
  • You have a steady income
  • You’ve been reducing your debts
  • You’ve been increasing your savings

The fine print – what are the eligibility criteria?

This competition is only available to Australian residents who are over 18 and check their home loan interest rate at RateCity. However, you are not required to refinance your home loan or apply for any financial products.

You can still enter if you don’t have a home loan yet – enter how much you plan to borrow and the details of the property you’re considering, and we’ll compare mortgage offers that may suit your needs and estimate how much you could save compared to a loan with an average interest rate. 

Interest Rate

Your current home loan interest rate. To accurately calculate how much you could save, an accurate interest figure is required. If you are not certain, check your bank statement or log into your mortgage account.

You couldn’t beat my current rate – how do I claim my reward?

If we can’t beat your current home loan rate, you can claim your $100 gift card by confirming your home loan details with us.*

To do this, on your results page you’ll need to securely upload a bank statement or similar home loan document that can be used to confirm the home loan details you provided. We’ll keep your information private and confidential and only use your document to confirm your entry.

What is the best interest rate for a mortgage?

The fastest way to find out what the lowest interest rates on the market are is to use a comparison website.

While a low interest rate is highly preferable, it is not the only factor that will determine whether a particular loan is right for you.

Loans with low interest rates can often include hidden catches, such as high fees or a period of low rates which jumps up after the introductory period has ended.

To work out the best value for money, have a look at a loan’s comparison rate and read the fine print to get across all the fees and charges that you could be theoretically charged over the life of the loan.

What are the pros and cons of no-deposit home loans?

It’s no longer possible to get a no-deposit home loan in Australia. In some circumstances, you might be able to take out a mortgage with a 5 per cent deposit – but before you do so, it’s important to weigh up the pros and cons.

The big advantage of borrowing 95 per cent (also known as a 95 per cent home loan) is that you get to buy your property sooner. That may be particularly important if you plan to purchase in a rising market, where prices are increasing faster than you can accumulate savings.

But 95 per cent home loans also have disadvantages. First, the 95 per cent home loan market is relatively small, so you’ll have fewer options to choose from. Second, you’ll probably have to pay LMI (lender’s mortgage insurance). Third, you’ll probably be charged a higher interest rate. Fourth, the more you borrow, the more you’ll ultimately have to pay in interest. Fifth, if your property declines in value, your mortgage might end up being worth more than your home.

What is an interest-only loan? (include how do I work out interest-only loan repayments)

An ‘interest-only’ loan is a loan where the borrower is only required to pay back the interest on the loan. Typically, banks will only let lenders do this for a fixed period of time – often five years – however some lenders will be happy to extend this.

Interest-only loans are popular with investors who aren’t keen on putting a lot of capital into their investment property. It is also a handy feature for people who need to reduce their mortgage repayments for a short period of time while they are travelling overseas, or taking time off to look after a new family member, for example.

While moving on to interest-only will make your monthly repayments cheaper, ultimately, you will end up paying your bank thousands of dollars extra in interest to make up for the time where you weren’t paying off the principal.

Who has the best home loan?

Determining who has the ‘best’ home loan really does depend on your own personal circumstances and requirements. It may be tempting to judge a loan merely on the interest rate but there can be added value in the extras on offer, such as offset and redraw facilities, that aren’t available with all low rate loans.

To determine which loan is the best for you, think about whether you would prefer the consistency of a fixed loan or the flexibility and potential benefits of a variable loan. Then determine which features will be necessary throughout the life of your loan. Thirdly, consider how much you are willing to pay in fees for the loan you want. Once you find the perfect combination of these three elements you are on your way to determining the best loan for you. 

Is the competition just for home loans? What about personal/car loans and credit cards?

This competition is currently for home loans only.

You may still be able to save money by checking the interest rates, fees, and charges on your personal loan, car loan or credit card – compare your options at RateCity.

But keep your eyes open – we may add options for car loans, personal loans, credit cards and more in the future.

What do mortgage brokers do?

Mortgage brokers are finance professionals who help borrowers organise home loans with lenders. As such, they act as middlemen between borrowers and lenders.

While bank staff recommend home loan products only from their own employer, brokers are independent, so they can recommend products from a range of institutions.

Brokers need to be accredited with a particular lender to be able to work with that lender. A typical broker will be accredited with anywhere from 10 to 30 lenders – the big four banks, as well as a range of smaller banks, credit unions and non-bank lenders.

As a general rule, brokers don’t charge consumers for their services; instead, they receive commissions from lenders whenever they place a borrower with that institution.