CommBank home loan review
CommBank is an established Australian lender, and Ratesniffers tracks 50 of its home loan products across variable, fixed and interest-only options. Its lowest variable rate Ratesniffers tracks is 6.49% p.a., and its lowest fixed rate is 6.34% p.a. That sits about 30 basis points above the market median of 6.19% p.a., so sharper variable rates exist elsewhere today.
Is CommBank a good home loan lender?
Commonwealth Bank suits borrowers who want broad branch coverage and many offset accounts against one variable loan. Ratesniffers checked its published product, package and scheme pages on 3 Sept 2026. The trade-off is fees and gates: the Wealth Package costs $395 a year, and the online discount needs a $150,000 minimum loan balance.
What we looked at
Ratesniffers ranked and described this lender from the verified rate snapshot on this page, then read the lender's own published product pages and fee documents listed under Sources below. Sources were checked on 3 Sept 2026. There are no scores, no stars and no user reviews here, only what the lender publishes and what the snapshot shows.
WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is based on a loan of $150,000 over a term of 25 years.
The information provided on this site is general in nature and does not take into account your objectives, financial situation or needs. Before acting on any information, consider whether it is appropriate for you and read the relevant Credit Guide and lender disclosures.
CommBank home loan interest rates by term
The lowest owner-occupier, principal and interest rate CommBank has published per term, from the same rate snapshot as the panel above.
| Term | Interest rate | Comparison rate |
|---|---|---|
| Variable | 6.49% p.a. | Not available |
| 1-year fixed | 6.49% p.a. | Not available |
| 2-year fixed | 6.34% p.a. | Not available |
| 3-year fixed | 6.59% p.a. | Not available |
| 5-year fixed | 6.79% p.a. | Not available |
The case for
- The Standard Variable Rate loan links up to 99 Everyday Offset accounts, with redraw carrying no fee and a $1,000 minimum. Interest only runs up to 5 years on owner occupied loans and up to 15 years on investment loans.
- The Digi Home Loan is applied for online and comes with one Everyday Offset account, unlimited extra repayments and redraw. The Simple Home Loan carries up to two Everyday Offset accounts.
- CommBank is a participating lender in the Australian Government 5% Deposit Scheme, which runs on owner occupier principal and interest loans with no lenders mortgage insurance, from a 5% deposit for eligible first home buyers and 2% for eligible single parents or legal guardians. CommBank also states it is currently the only major lender participating in the federal Help to Buy Scheme.
- Outside the scheme, CommBank offers lenders mortgage insurance or its own Low Deposit Premium, guarantor support, and LMI waivers for doctors, lawyers and accountants with deposits from 10%, subject to CommBank confirming the profession is eligible.
- CommBank runs around 700 branches and has extended its commitment to keep all regional branches open until at least 31 July 2027.
What to weigh up
- Its sharpest variable rate sits above the market median of 6.19% p.a. in the rate snapshot on this page.
- The Wealth Package costs a non refundable $395 a year, paid in advance, and covers only Standard Variable Rate and one to five year Fixed Rate home loans.
- The online discount on the Standard Variable Rate and Simple Home Loan requires a minimum $150,000 loan balance.
- Rate Lock on a fixed rate loan costs a non refundable $750 and holds the reference rate for 90 days before funding.
- Extra repayments on the Fixed Rate Home Loan are capped at $10,000 a year during the fixed period, and those funds are not redrawable until the term ends.
- The Digi Home Loan and the Simple Home Loan sit outside the Wealth Package, so package pricing and the waived credit card annual fee do not apply to them.
Who CommBank suits and who it does not
CommBank tends to suit borrowers who want branch and app coverage behind a full product range, offset users who will run more than a handful of accounts against one loan, and first home buyers who need a scheme place, since CommBank participates in the Australian Government 5% Deposit Scheme and states it is currently the only major lender in Help to Buy. It suits less well where the loan balance is under the $150,000 the online discount requires, where a fixed rate needs more than $10,000 a year of extra repayments, or where the plan is a packaged loan on a product the Wealth Package does not cover.
CommBank products in detail
CommBank Wealth Package
The Wealth Package is CommBank's packaged pricing option, costing a non refundable $395 a year paid in advance. It applies to the Standard Variable Rate home loan and to one to five year Fixed Rate home loans, and it waives the annual fee on one eligible credit card alongside unlocking package discounts. The Digi Home Loan and the Simple Home Loan are not packaged products, so the fee buys nothing on them. Separately, CommBank's online discount on the Standard Variable Rate and Simple Home Loan requires a minimum $150,000 loan balance, so the two savings levers work on different products and carry different gates.
CommBank offset accounts
CommBank's offset facility is the Everyday Offset account, and how many can be linked depends on the loan. The Standard Variable Rate loan links up to 99 Everyday Offset accounts, the Simple Home Loan up to two, and the Digi Home Loan one. Redraw on the Standard Variable Rate carries no fee with a $1,000 minimum, and interest only runs up to 5 years on owner occupied loans and up to 15 years on investment loans. The Fixed Rate Home Loan is the exception on flexibility: extra repayments are capped at $10,000 a year during the fixed period and are not redrawable until the term ends.
CommBank home loans: our verdict
CommBank is a credible choice whose lowest variable rate of 6.49% p.a. currently sits about 30 basis points above the market median, so it's worth comparing before you commit (last updated 24 Sept 2026). Whether it's right for you comes down to your deposit, the features you'll use, and how its real approved rate compares, so treat the headline as a starting point, not the final answer.
Sources checked 3 Sept 2026: CommBank, Home loans; CommBank, Standard Variable Rate; CommBank, Fixed Rate Home Loan; CommBank, Wealth Package; CommBank, Low deposit home loan options; CommBank, Australian Government 5% Deposit Scheme; CommBank, Government grants and schemes. Fees and product terms change, so confirm them with CommBank before applying.
See if you can do better than CommBank
The advertised rate isn't always the rate you'll be approved for. Compare CommBank against the wider panel, or have your scenario negotiated, at no cost.