Commonwealth Bank home loans: A guide

The Commonwealth Bank of Australia (CommBank or CBA for short) is the biggest lender in the country by any measure. It was founded by the Government in 1911 and was at least partically publicly owned until 1996. Today it's the largest company listed on the Australian Stock Exchange with a market cap over $294 billion.

In June 2025, CommBank's home loan book (both owner occupier and investment) was worth nearly $586 billion, more than $100 billion more than the second largest (Westpac).

You might find CommBank a good fit for your home loan needs if you:

• Want tailored interest rates: Commbank rates vary between customers. Higher LVR loans usually have higher rates, investors generally pay a higher rate than owner occupiers, products with an offset account have higher rates than those without.

• Are comfortable paying higher advertised rates for a trusted brand: The major banks can sometimes have slightly higher advertised rates than smaller competitors - given the brand awareness and trust the likes of CommBank have with the Australian public, newer players often need lower rates to attract customers.

• Are mindful of loan fees: There are various fees that can apply to Commbank products including loan establishment fees, late repayment fees and monthly account keeping fees, among others. CommBank also offers the Wealth Package which can offer discounted interest rates and fee waivers. As of June 2025, the Wealth Package costs $395 each year.

• Value a wide product range: As you'd expect from Australia's biggest lender, Commbank has a wide range of different home loan products. Whether you're looking for an interest only loan, construction loan, or to split your loan into a variable and a fixed portion, it's usually a good bet Commbank can help. Prominent CommBank home loans include:

  • Digi Home Loan: A digital only offering with CommBank's lowest variable rate. Includes one offset account.

  • Simple Home Loan: Commbank's basic home loan with a lower variable rate and up to two offset accounts.

  • Standard variable rate: A variable rate product with tailored discounts, multiple offset accounts, and other features. Customers who pay the wealth package fee can substantially lower their interest rate.

  • Fixed rates: Wealth package discounts are also available on fixed rates.

• Prefer in-person banking: CommBank has 659 branches, more than any other Australian bank. However, its Digi Home Loan, which often offers the lowest rate out of its home loans products, is available online only.

• Want excellent online banking: CommBank has one of the most streamlined and well integrated apps of any Aussie bank. Using the CommBank app, customers can easily manage their home loan and other accounts and access a variety of features including a free credit report.

• Are eligible for the 5% Deposit Scheme: Commbank participated in the 5% Deposit Scheme. If you're eligible, you could borrow up to 95% of your property's value (98% if you're a single parent or guardian) without needing to pay for Lenders Mortgage Insurance (LMI).

• Want to use the Help to Buy scheme: CommBank is one of first home loan lenders participating in the federal government's shared equity scheme, Help to Buy. Eligible buyers may be able to put down a deposit as low as 2% to purchase 60% or 70% of a home, with the government contributing (and holding ownership of) the remaining share.
  
  
• Want unique home loan features: One distinguishing feature of CommBank home loans is its 'Property Share' feature. This allows multiple borrowers to buy one property, dividing the cost while keeping your finances separate. For example, one party could be on a low rate fixed loan while the other may choose a variable rate with an offset account. As a co-borrower you're still providing a guarantee, which means if the other borrower can't make their repayments the responsibility falls on you. Home-In is another distinguishing CommBank feature. A spokesperson told InfoChoice Group Home-In is a "digital conveyancing tool that guides customers through the process of buying and settling a home, coordinating all key steps and interactions between their lender and solicitor in a single hub".

• Are looking for added perks: CommBank has a wide range of corporate partnerships that can benefit customers. For example, customers may be able to get discounts on NBN or energy plans.