CBA Owner Occupied Home Loan Fixed 2 Years 1.94%, Investor Fixed 3 Years 2.39% + CBA $2,000 Refinance Bank Rebate

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CBA Owner Occupied Home Loan Fixed 2 Years 1.94%, Investor Fixed 3 Years 2.39% + CBA $2,000 Refinance Bank Rebate

AssociatedLen -Bundle Loans @ Bundle Property Home Loans on 22/03/2021 - 12:51 commbank.com.au (1822 clicks)
Last edited 22/03/2021 - 23:17

CBA lowest fixed rates ever + $2000 CBA Refinance bank rebate

Owner Occupied
2 Year Fixed - 1.94% P&I - (3.93% comparison)

Investor
3 Year Fixed - 2.39% P&I - (4.31% comparison)

Product fees:
$200 settlement fee
$395 annual fee under Package, can combine with 100% offset on variable (no extra fee). Annual fee $395 and incl premium credit card, offset.
Fixed has break costs if closed before expiry. No break costs under variable products.

Other lenders

St George/ Bank of Melbourne + $4000 bank rebate + $2000 per additional property / or Westpac similar rates at 70LVR $3k bank rebate + $2k additional property

Owner occ 60LVR (+0.05% for 80LVR)
2 year fixed 1.79% CPR 3.33%
3 year fixed 1.88% CPR 3.25%
4 year fixed 1.89% CPR 3.16%
Variable 2.54% CPR 2.95% offset
Variable 2.44% CPR 2.46% basic no annual fee

Investor 60LVR (+0.05% for 80LVR)
2 year fixed 2.19% CPR 3.84%
Variable 2.99% CPR 3.03% offset
Variable 2.74% CPR 2.76% basic no annual fee

Still Available Lenders with up to $4k PURCHASE or refinance bank rebate, rates from

1.99% for 2 years fixed for home loans (Comp 2.92%)
2.09% for 3 years fixed for home loans (Comp 2.94%)
2.29% for basic variable rate (Comp 2.34%)
2.49% for variable with offset (Comp 2.89%)

Up to 0.4% ie $4000 Bundle Rebate (via broker only)

In ADDITION to bank rebates, Bundle Home Loans gives a rebate of 0.3%-0.4% of loan size (net at drawdown) for ANY bank or product,

We have some of the lowest rates, and can get pricing discounts up to 2.1%. Our policy is to beat any competitor/broker/lending manager with our rates and rebates, so will do whatever it takes to get the best deal for you.

Len
Bundle Property Home Loans
T: (02) 9698 7186
M: 0422354868
E: [email protected]
ACL 445947

Financial Broker Home Loan Loan Rebate

6 May 2021

Related Stores

Commonwealth Bank

Bundle Property Home Loans

Third-Party

closed Comments

- acersaurus on 22/03/2021 - 16:40
  
  Yes of course, why pay more. If you multiply your loan amount by a 0.73% difference I think you'll find it's a significant difference.
handles1 on 22/03/2021 - 14:54

+1

Probably important to put the minimum borrowing requirements in the post. If you owe under $250k, you’re generally ineligible for the cash back.
Nitrous on 22/03/2021 - 14:58

+1

What are the rates and rebates for Interest only? Residential and Investment.
jje on 22/03/2021 - 15:19

In case it matters to anyone, I started a refinance with StG last year (same rate + 4k cashback), and I only just got approved and all the docs sent through. They are very, very slow at the moment.
- jedimaster on 22/03/2021 - 15:35
  
  same, my settlement is today. wondering if i could have held off to get this lower interest rate and cancel settlement.
  - tunzafun001 on 23/03/2021 - 01:56
    
    If you didn't pay to lock your fixed rate, then you should get the new / current rates.
  - gromit on 23/03/2021 - 10:11
    
    as tunzafun said, unless you paid to get the rate you applied for locked in you automatically get the current rate at settlement. If settlement is today then the new fixed rates apply. That is not all good news as if you were applying to CBA with 4 or 5 year fixed the rates went up not down.
    - jedimaster on 23/03/2021 - 10:38
      
      My settlement was delayed to today. It was 1.99 for 2 years when I applied. Spoke to broker who said that new rates will apply now 1.79% for 2 years. Still keeping fingers crossed.
      - gromit on 23/03/2021 - 11:08
        
        @jedimaster: gratz, that is perfect timing for you. 0.2% is $1k a year on $500k loan, much better in your pocket then the banks :-)
sashatheman on 22/03/2021 - 15:50

Why is CBA Variable rate so crap.. The link says its 3.85% or 4.27% comparible.
https://www.commbank.com.au/home-loans/standard-variable-rat…

I am with CBA at the moment fixed, its coming off in a fortnight. I am wondering if i should jump ship to someone that has a more competitive variable rate.
- 1st-Amendment on 22/03/2021 - 16:34
  
  The advertised variable is usually not the actual rate anyone gets. They use some logic to apply discounts to each customer, eg 0.5% off standard, 0.8% off standard, 1% off standard etc. I'm not sure what you'll be offered, but the numbers others have mentioned is somewhere around 2.6% to 2.8%
  - Dpkmax on 26/03/2021 - 17:29
    
    +1
    
    In short - I was on variable P&I with CBA for 3.06% called them landed up with 2.85%.
    
    Description :
    I am with CBA and have a Variable home loan . After going through this thread i picked up the phone and called CBA straight away - should have done earlier and regularly - i was on 3.06% since Oct last year ( 2020).
    When i called the bank i was offered 2 Year Fixed - 1.94% P&I , however i asked them to look into the variable option on which i was currently paying 3.06%. Without much effort they brought it down to 2.85%.
    
    This tech is common and is also mentioned in Barefoot Investor , keep calling the banks regularly and negotiate for a better rate.
acersaurus on 22/03/2021 - 16:28

Got the 4k refinance deal from bank of Melbourne, I can confirm they were really good (so far) and made it relatively easy (still semi time consuming).. It's a better deal than CBA and Bank of Melbourne are owned by Westpac so in a sense part of a major bank.
- Dpkmax on 26/03/2021 - 17:30
  
  @acersaurus Did you approach Bank of Melb directly or thru broker.
Risser on 22/03/2021 - 16:58

Can this be used as a construction loan?
- Flintz on 22/03/2021 - 17:02
  
  Fixed rates can only be applied to your land part, variable on interest only is applied to your construction part
CustardShot on 22/03/2021 - 17:47

I'm currently with CBA (Have been my entire home loan) on variable with the 'extra home loan' and my interest rate is 3.07%
Looking at the website, I should be on 2.69 if I'm reading that correctly. Should I be contacting them?

On another note - My home loan is currently just under 150k, with a home value of 550k (recently valued at that - that qualifies me for the above offer, I think). I'd like to fight for competitive offers at other banks - but it appears many lenders offer their best rates to loans with a higher minimum amount that my loan. Has anyone had success getting better deals from other lenders with lower home loans?
- acersaurus on 22/03/2021 - 18:45
  
  Well no because I don't have a low home loan, but I note that Ubanks 1.75% 3 year fixed rate requires a minimum loan of 100k only, so I do not think it will be hard if you search for a better deal.
- tunzafun001 on 23/03/2021 - 02:01
  
  You have a 550k property. Just apply for a 79% of $550k loan (to avoid LMI). Put the extra cash in an offset account, or spend it on whatever you want. You are more than eligible for any of the cashback offers.
- Dpkmax on 26/03/2021 - 17:32
  
  @ Custardshot , call CBA and they will provide you with better option see my comments above.
  - CustardShot on 26/03/2021 - 18:34
    
    Thanks dpk, can I ask how you approached the call? Did you ask them to match an offer or did you threaten to refinance with another bank? Or simply just ask for the best available offer to you?
    Also if you don't mind, to save the hassle, which number is it you called? Thanks!
    - Dpkmax on 27/03/2021 - 21:05
      
      +1
      
      @Custardshot - So here's how the call went - Called CBA told them that i am paying 3.06% currently and there are better offers in the market . By default they presented me to 2 Year Fixed - 1.94% P&I , when I mentioned if i refinance within 2 years will i have to pay a penalty to which they said yes , so i wasn't interested and told them thank you i will look whats available in the market.
      They they said hold on and said we could do better than the current 3.06% and they brought it down to 2.85%.
      
      Number to call , normally i just go on the app and click contact us home loan section I find that is easy so they get your details and you are ready to start conversation without having to provide further details.
      So log in to the com bank app and use the app to call em.
knowwhat on 22/03/2021 - 17:57

Hi OP,
Can one transfer from Westpac to St George and get the deal/rebate?
- Frozensage on 22/03/2021 - 19:19
  
  They the same bank including bank of melbourne. All westpac group.
Tea2Tango-Australia on 22/03/2021 - 18:20

Is this for current CBA customers as well?
wog_ta on 22/03/2021 - 19:03

Hi Len, can you give me an idea of the typical CBA Investment loan (P&I) rate you can get? Within 80% LVR.
Jule on 22/03/2021 - 19:16

Leng Leng Yin ,

What are the drawbacks of the loan?

Is this suitable for everyone?

Why are you advertising CBA in particular?

Whats your commission on a 500k loan?
Frozensage on 22/03/2021 - 19:19

Westpac offering $3k rebate and 2.19% 2 years honeymoon period.
Frozensage on 22/03/2021 - 19:22

Is it true if I move from bank of Melbourne to westpac I still have to pay a bunch of discharge and moving title fees eventho they are the same bank? Roughly how much in fees would it be? Tossing up whether to refinance to westpac or bank of Melbourne and then to westpac in 6 month for a bridging loan
- spiff on 22/03/2021 - 23:17
  
  No idea on your question but you won't get any rebates refinancing between Westpac, STG, BOM
- El-Rhi on 25/03/2021 - 17:40
  
  Yes, expect to pay around $800 per refinance.
hts on 22/03/2021 - 19:25

Glad I jumped at 1.94% for 4 years with Teachers Mutual, has been almost 9 months now and the big banks are just starting to compete…
- tunzafun001 on 23/03/2021 - 02:04
  
  And the fixed rates are 100% offset..big 4 won't do this anywhere near this rate. Just a heads up, do your research at the 3.5yr mark. Unfortunately TMB have a terrible variable rate once your fixed rate expires, and the fixed rates offered aren't normally as good as new business. I left TMB as they couldn't give me a competitive rate, but will probably be back.
  - hts on 23/03/2021 - 09:41
    
    Yeah we have been with them for years on variable as our contact always gave us below the advertised rate which was great, but took the gamble that 1.95 won't go much lower and if it does the difference isn't as great as between 2.89 we were on.
    100% offset is great, massive money pit but every bit knocks that interest lower and lower.
    Will see what happens in 3 years or so!
Oneiricer on 22/03/2021 - 20:22

Can you please advise what requirements there are surrounding employment? Day rate contracts - are they ok? How much history do you need?
jay889344 on 22/03/2021 - 21:19

Perhaps a stupid question, but does anyone know if you're on a P&I fixed rate loan, are you able to switch to interest only or is that only an option for people on a variable rate?
- Frozensage on 22/03/2021 - 22:59
  
  once u r fixed u cant change anything is my understanding.
TheTaxMan on 22/03/2021 - 22:32

I just moved to a new job in the same industry (construction) with a much bigger pay (25% more) and could possibly refinance depending on the house valuation which I think should be able to get me to 80% LVR. How does the length of employment impact the refinance, considering it's like taking out a new loan? Do I wait for 6 months?
- Frozensage on 22/03/2021 - 23:00
  
  3 month pay slip with bank statement of pay and prove of ongoing employment in the form of annual leave etc balance or letter from employer.
DardyMate on 23/03/2021 - 00:41

What's the minimum loan amount?
Team Ozgiftcards on 23/03/2021 - 08:54

What’s the best rate for investor interest only variable at a big 4?
gromit on 23/03/2021 - 09:55

Thanks, switched to 2 year fixed split this morning. perfect timing as was considering locking in the higher rate for 2 years as wanting to sell around then.
- pkr123 on 23/03/2021 - 13:38
  
  What variable rate did you get?
  - gromit on 23/03/2021 - 13:51
    
    currently on 2.77 (been a bout a year since I last called to get it adjusted), I assume it would stay the same when splitting (not that it really matters is my reason for split is I have split amount covered by an offset, won't know I guess till it all is processed (takes up to 5 days).
Hangryuman on 23/03/2021 - 17:16

thanks for the reminder - my CBA investor loan was fixed for 3yrs at 4.19% just ended the other day and I hadn't got around to deciding whether to fix again

yesterday I read 'The Commonwealth Bank has hiked its four-year fixed rate while cutting its one- and two-year rates in a sign the bank expects a higher rate environment to set in by 2024' - https://au.finance.yahoo.com/news/commonwealth-bank-hikes-in…

(that could be fake news to sucker people into fixing … then later when rates plunge - gotcha ! kaching ! only time will tell …)

Anywaze - today I went to fix at the current lowest investor WealthPackage rate of 2.39% for 3 years, but online it showed the non-WealthPackage rate of 2.54% - when I dug further it had a little note at the end 'if you have a WealthPackage the discount will be applied' - but meanwhile it expected me to 'Accept' the higher rate - which I balked at - so not yet for me …
ozisaver on 25/03/2021 - 14:57

I don’t really get what’s so great about this rate. Even westpac does a 2 year fixed rate for 1.89%. UBank is currently doing a 3 yr one for 1.75%.

Plus commbank still charges a pointless ‘wealth package’ fee each year
jjj123 on 26/03/2021 - 13:02

Will the bank rebate showing as interest/rebate and taxable?
Snoochem55 on 31/03/2021 - 00:17

+1

Contacted CBA and threatened to refinance my loans and they offered 1.74% 2 yr fixed Owner Occupied P&I. And 2.19% 3 year fixed Investor P&I.

Thought its worth mentioning since it shows that CBA is willing to discount on top of their wealth package fixed rates.
- rehan770 on 14/04/2021 - 00:33
  
  I called CBA last month and they said they can only do 1.94%, nothing lower than that, maybe because my partner is employed but I'm not.
mrcosmo on 01/04/2021 - 07:36

+1

So what's the advantage of going through a broker compared to going to comm bank directly?
- flatwhitepls on 08/04/2021 - 10:35
  
  Interested in this as well :)
NZ OZ Sam on 12/04/2021 - 13:24

Been trying to reach out to you from 5 days but struggling to get any response :(

This was posted 3 years 9 months 12 days ago, and might be an out-dated deal.