Simple Home Loan (Owner Occupied)
A simple home loan with a competitive variable rate and the choice to access two Everyday Offset Accounts.
- From (owner occupied)
- 6.34%
- 6.59% comparison
Interest Rates
Owner occupied — Principal & interest
| Type | Rate | Comparison | Applies To |
|---|---|---|---|
| Discount Digi Pricing Campaign adjustment: At least 10bps off the advertised LVR-tiered price guarantee for eligible new accounts. · Minimum lending amount must be greater than $150,000. | 0.1% | — | — |
| Variable Owner Occupied with Principal and Interest repayment type | 6.34% | 6.59% | LVR |
| Variable Owner Occupied with Principal and Interest repayment type | 6.39% | 6.64% | LVR |
| Variable Owner Occupied with Principal and Interest repayment type | 6.49% | 6.74% | LVR |
| Variable Owner Occupied with Principal and Interest repayment type | 6.79% | 7.04% | LVR |
Fees
| Fee | Type | Amount |
|---|---|---|
| Establishment Fee $800 establishment fee charged for off the plan purchase for new and existing home loan. $300 establishment fee for home loans excluding off the plan purchases. Establishment fee is payable to cover the costs the Bank incurs in establishing your loan and unless it is waived by us, is payable at the date of settlement or funding. It does not include other fees and charges also payable at the time of entering into the loan such as those associated with the settlement of the loan or the particular circumstances of the loan. Establishment Fee is not charged for Simple Home Loan customers that are requesting top up or internally refinancing from another CommBank home loan type. | Upfront | $300.00 – $800.00 |
| Loan Service Fee Charged monthly · Charged monthly to each Loan Account on the repayment due date. | Ongoing | $20.00 |
| Settlement Fee Payable regardless of whether we attend settlement or not, when the Bank or our representatives, arranges the funding of the loan. | Event | $200.00 |
| Settlement Cheque Fee Payable if you require additional cheques (more than two) to fund / settle the loan. Fee applied per cheque. | Event | $30.00 |
| Late Payment Fee For home loans - If your account falls into arrears, you will be charged a late payment fee. The fee is payable on the fifth business day after the monthly repayment due date. We will continue to charge the fee monthly until you repay all arrears or you enter into an arrangement with us for the full repayment of those arrears (even if you repay your loan weekly or fortnightly). If you break that arrangement the fee will continue to apply. |
Features
- Redraw facility
- Your home loan comes with a fee-free redraw facility. You can make unlimited additional repayments at any time with no fees or penalties. You can access any additional money you pay, over and above your minimum required repayment.
- Offset account
- An Everyday Offset Account is a transaction account that's linked to your Simple Home Loan or Investment Home Loan. Any money you put into your Everyday Offset Account (e.g. your salary and savings) reduces the balance on which we charge interest. This means you'll only be paying interest on the difference. You can have up to two Everyday Offset Accounts linked to one Simple Home Loan. A monthly Offset Feature fee applies. Only available for individual borrowers, not companies or trusts.
- You can apply to top up your home loan by an additional $10,000 or more - subject to equity in your property and our approval.
- Ability to switch your loan or repayment type, for example switching from a Simple Variable Rate to a Fixed Rate home loan or switch from Principal and Interest repayments to Interest Only payments.
- Extra repayments
- Additional repayments can be made at any time. No fees apply.
Eligibility
- Individuals onlyAvailable to Individuals only (Companies and/or Family/Unit/Hybrid Trusts are excluded).
- Minimum age — 18 yearsIndividuals must be 18 years of age or above.
- Applications for home loans are subject to the Bank's normal credit approval.
- Residency status — CITIZEN, PERMANENT_RESIDENTIndividuals must either be living in Australia as an Australian citizen, New Zealand citizen, Australian permanent resident or specified temporary Australian resident; or be an overseas citizen co-borrowing with an Australian citizen or Australian permanent resident or be living overseas as an Australian citizen or Australian permanent resident.
Constraints
- Minimum balance — $1,000.00Minimum $1,000 withdrawal with a $0 Redraw fee over the counter at any Commonwealth Bank branch and no minimum electronically with a $0 Redraw fee.
- Minimum limit — $10,000.00Minimum loan amount for new loans.
- Maximum LVR — 95%The total LVR for an existing and/or new Simple Home Loan cannot exceed 95% (subject to any postcode restrictions)
More Information
Published by CommBank under the Consumer Data Right · Last updated 1 July 2026 · Product ID b33d5f9a08c6455cbda5c52c40e878a5 · View on CDR.gov.au