- CBA is best for borrowers who want a full-service banking experience, including strong in-person support, a wide range of loan products, and reliable digital tools.
- Top 3 reasons to choose Commonwealth Bank:
– Australia’s largest bank with extensive branch and broker support
– Excellent digital features including the CommBank app and Home Loan Toolkit
– Broad product range covering every type of borrower, including low deposit options - Key drawbacks to consider:
– Higher interest rates compared to online or non-bank lenders
– Package fees can add to the cost
– Cashback offers less frequent than competitors
Who Is Commonwealth Bank (CBA)?
The Commonwealth Bank of Australia (CBA) is the country’s largest bank and one of the oldest, dating back to 1911. It offers a wide range of personal and business banking services, and its home loan division is one of the most popular in the country.
Known for its reliability, strong customer service, and tech innovations, CBA is trusted by millions of Australians. With extensive branch access and a large broker network, it’s an accessible choice no matter where you live.
CBA Home Loan Customer Reviews
The offset account feature linked to our CommBank home loan has made a huge difference in our monthly interest. Very happy with how everything was set up. Bonus points for the mobile app—it’s super easy to manage everything on the go.
Leo Tagglione
Had a great experience getting our first investment loan with CommBank. The process was clearly laid out, and the team made sure we were confident with our choice. Communication was solid the whole way.
Amanda James
CommBank’s home loan calculators were really helpful when we were comparing options. The team walked us through everything and didn’t rush us into a decision. We ended up with a product that fits our needs and a decent rate too.
Tom Barrington
We’ve been with CBA for over 10 years and just completed our second home purchase. Everything went smoothly, and the process was far more digital this time around—which I appreciated. Their customer service has remained consistent over the years.
Priya Nair
The experience was good overall. My only complaint is that it took a bit longer than expected to receive pre-approval, but once that came through, everything else moved quickly. Staff were professional and easy to deal with.
Declan Wright
I found Commonwealth Bank’s mobile app and digital experience to be excellent, especially during our home loan application. Everything from loan calculators to document signing was seamless. Really impressed with the tech side of things.
Elise Farrow
We’ve just completed our first property purchase with Commbank, and everything went smoothly. They explained the loan structure clearly and helped us understand the LMI implications. First-time buyers will definitely appreciate how thorough they are.
Lucas Ng
I ran into a few issues with the offset account linked to my home loan, but once I spoke to someone directly, it was sorted quickly. Would’ve liked a bit faster resolution, but the final outcome was good. Appreciate the follow-up call too.
Nathan O'Shea
I’ve been with CommBank for years, and they’ve always been helpful. Recently I had some questions about my home loan repayments, and the customer service rep was incredibly patient and informative. It’s that level of care that keeps me loyal.
Tahlia Robertson
The team at Commonwealth Bank were fantastic during my refinance. I managed to get a better rate and consolidate some debts, which has really eased the pressure. Communication was clear throughout, and I felt supported the whole way.
Michael Leung
I recently applied for a home loan with CommBank and was pleasantly surprised at how straightforward the whole process was. Their online portal made uploading documents easy, and I always received prompt updates. Would happily recommend them to others looking for a reliable lender.
Grace Holloway
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Types of CommBank Home Loans
CBA offers a comprehensive range of home loan products to suit a variety of borrower types:
Variable Rate Loans
- Flexible repayments
- Unlimited extra repayments and redraw facility
- Access to 100% offset account (with Wealth Package)
- Great for borrowers wanting full flexibility and features
Fixed Rate Loans
- Lock in interest rates for 1 to 5 years
- Rate lock available (fees apply)
- Redraw available on fixed loans via the app
- Combine with variable for a split loan
Low Deposit & First Home Buyer Loans
- Borrow up to 95% LVR with LMI (only 5% deposit needed)
- Participate in schemes like First Home Guarantee and Family Home Guarantee
- Tools like the Home Loan Calculator and Property Guide app
- Parental guarantee loan options
No LMI Home Loans
- Borrow up to 95% LVR with NO LMI required
- Doctors, lawyers, accountants and veterinarians are among those who can waive LMI with a low deposit
- Check this article for a full list of eligible professionals who can avoid LMI
Investor Loans
- Interest-only or Principal & Interest
- Options for single or multiple properties
- Strong support via brokers and digital management tools
Refinancing Loans
- Competitive refinance options
- Streamlined process with digital tools
- May offer loyalty discounts for existing customers
Commonwealth Bank Interest Rates & Fees
CBA’s home loan interest rates tend to be higher than online-only or smaller lenders, but they are relatively stable and come with the backing of a major institution.
- Wealth Package: $395 annual fee for rate discounts and offset access
- Application fees: May apply depending on the loan type
- Redraw and extra repayments: Free and flexible for eligible loans
While you might pay a slightly higher interest rate, many borrowers value the in-person support, bundled services, and tech tools that come with CBA.
For the latest CommBank interest rates and fees for your personal circumstances, speak to a mortgage broker for FREE guidance. They can also help you compare CBA's home loans with over 70+ other banks and lenders to ensure you are getting the best deal.
Key Features of CommBank Home Loans
Here’s what sets CBA apart from other lenders:
- CommBank App: Top-rated banking app with smart alerts and loan tracking
- Home Loan Toolkit: Helps you track repayments, goals, and offset benefits
- Offset Account: Available with eligible variable rate loans under the Wealth Package
- Redraw Facility: Access to extra repayments
- Split Loans: Combine fixed and variable for balance and flexibility
- Loan Protection Insurance: Optional cover for unexpected events
- In-person and digital support: Talk to someone at a branch, via phone, or through the app
Pros & Cons of CommBank Home Loans
Pros:
✅ Australia’s most trusted bank with strong reputation and customer service
✅ Great tools for managing loans digitally (and in branches)
✅ Good options for first home buyers and parental guarantees
✅ Broadest product range in the market
✅ Secure, stable, and reliable lender
Cons:
❌ Rates are generally higher than many online or niche lenders
❌ Annual package fees can add up
Is CBA a Good Lender?
If you want full-service banking with all the features, CBA is one of the safest and most reliable choices. While you may not get the absolute lowest rate in the market, the service, security, and digital tools make it a strong pick — especially if you value in-person help and smart tech.
CBA is ideal for:
- First home buyers using government schemes
- Borrowers who want to manage everything in one place
- People who want access to branches and face-to-face support
- Those who prefer long-term stability over chasing the lowest rate
How to Apply for a CBA Home Loan
You can apply for a CBA loan in three ways:
- Directly through the CommBank website
- In person at any CBA branch
- Through a free mortgage broker who can compare CBA with other lenders
Documents typically required:
- ID (driver’s licence, passport)
- Income documents (payslips, tax returns)
- Savings and deposit details
- Current debts or credit card limits
- Purchase contract or refinance details
Application process:
- Digital pre-approval available within minutes
- Full approval usually takes 1–5 business days depending on complexity
- CBA’s Home Buying Specialists and brokers can help at every step
- A mortgage broker can speed things up and help with document preparation
Need Help Comparing CBA to Other Lenders?
Let Eden Emerald Mortgages help you assess CBA home loans alongside hundreds of others. Whether you're a first home buyer, investor, or just looking to refinance, we’ll help you find a tailored loan with the best features — and negotiate on your behalf.
Our services are 100% free for you, (we are paid a commission by the lender), so there is no downside to working with us.
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Get Your Mortgage Approved
To get started on your journey of securing a home loan, fill in the form below, and an experienced mortgage broker will contact you about your personal situation. You can also call us directly on (02) 9188 9398.
