Commonwealth Bank Home Loans — Overview & Features

Big Four Bank AFSL 234945  ·  Online, branch (800+ locations), or broker

About Commonwealth Bank

Commonwealth Bank of Australia (CBA) is the largest bank in Australia by market capitalisation and retail deposit base. Founded in 1911 as a government-owned institution, CBA has more than 800 branches and 3,000 ATMs across the country — the widest physical footprint of any Australian lender. Its AFSL number is 234945, issued by ASIC under the National Consumer Credit Protection Act.

As one of the Big Four banks, CBA holds a dominant share of the owner-occupier mortgage market. Its scale means it can absorb funding costs differently from smaller lenders, but it also means its standard variable rate is rarely the sharpest on the market. The real value proposition is breadth: CBA borrowers get seamless integration with a full-service bank, from everyday banking to credit cards, insurance, and superannuation.

Home Loan Products Offered

Like all major Australian lenders, CBA offers a range of home loan types to suit different borrower needs. Rates change frequently — this guide does not quote specific figures. Use our repayment calculator with current CBA rates from their website.

• Variable rate
• Fixed rate (1–5 years)
• Interest-only (investment)
• Split (part-variable / part-fixed)

CBA offers a comprehensive range of home loan products. Owner-occupiers can choose between variable and fixed rates across 1, 2, 3, 4, and 5-year terms. Investment loans, interest-only (IO) periods, and split loan structures are all available. The Wealth Package bundles a home loan with a credit card and transaction account for a single annual fee, waiving many individual fees in the process — this is worth evaluating if you plan to hold multiple CBA products.

CBA's fixed rate loans allow some extra repayments (typically up to $10,000 per year) without penalty — check the current product disclosure statement for the exact limit. Break costs on fixed rate loans can be substantial if you exit early; always model this before fixing.

Rates change frequently — use our repayment calculator with current CBA rates from their website.

Key Features at a Glance

Feature availability applies to CBA's standard variable product. Some features may be product-specific — confirm with CBA before applying.

Who CBA Home Loans Typically Suit

Borrowers wanting a full-service bank with branch access and a wide range of loan products.

This is a general guide based on CBA's market positioning and product structure. Individual eligibility depends on your income, credit history, deposit size, and existing liabilities. Use our borrowing capacity calculator to estimate what you may be eligible for before speaking to CBA.

Application Process

CBA offers three application pathways. The most popular is fully online through NetBank or the CommBank app, where pre-approval decisions for straightforward applications can be returned in as little as 10 minutes. Branch applications are available at all 800+ locations for borrowers who prefer face-to-face guidance. CBA also works with mortgage brokers — roughly half of all applications come through the broker channel.

Documents required: two forms of ID (passport or driver's licence), last three months' payslips, last two years' tax returns if self-employed, three months of bank statements, and details of any existing liabilities. CBA uses automated income verification via its own banking data for existing customers, which can significantly speed up processing.

How to Negotiate a Better Rate with Commonwealth Bank

CBA has a dedicated retention team — its primary job is to keep you from refinancing to a competitor. This is your leverage.

Step 1: Get competitive quotes. Obtain at least two written rate quotes from other lenders (ANZ, Westpac, an online lender like ING or Macquarie). Even a quote from a broker comparison will do. CBA's retention team will ask what competitor rate you've been offered.

Step 2: Call the right number. Don't ring the general home loan line — call CBA Home Lending on 13 2221 and explicitly say you are 'considering refinancing and want to discuss your rate'. You will be routed to retention.

Step 3: Mention the CommBank app. CBA's app is its biggest retention tool. If you use it daily, say so — it signals you're a sticky customer worth retaining. Paradoxically, this also means you have more to lose by leaving, so pair this with a genuine competitor quote to maintain credibility.

Step 4: Reference your relationship. If you hold other CBA products — transaction account, credit card, term deposit — mention this. CBA values total relationship banking. Customers with multiple products often receive better retention offers.

Step 5: Set a deadline. Tell the retention team you need a decision by end of the week as you have paperwork to sign with the other lender. This concentrates minds. Typical retention discounts range from 0.1% to 0.4% off the standard variable rate.

Financial Hardship — CBA Support Team

If you are struggling to meet your home loan repayments, Commonwealth Bank has a dedicated hardship team. Australian lenders are required under the National Consumer Credit Protection Act to have a hardship process, and banks have obligations to assist borrowers facing genuine financial difficulty.

For independent, free financial counselling, call the National Debt Helpline on 1800 007 007. Financial counsellors can help you understand your options and negotiate with your lender on your behalf.

Compare CBA with Other Lenders

Before deciding on a lender, compare at least three options. Your borrowing scenario, LVR, and income type will determine which lenders can offer you the best combination of rate, features, and service.

Westpac  |  ANZ  |  NAB  |  ING  |  ubank  |  view all lenders →

See all lenders: use our refinancing calculator to model whether switching lenders makes financial sense for your situation.