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Free nbn 50/20 from More Telecom for Eligible Conditionally Pre-Approved Home Loan Applicants for 3 Years @ CommBank

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CBA is offering eligible conditionally pre-approved home loan customers (who then find a property and fund $250,000 or more between 31 May 2022 and 31 December 2022) with access to a free nbn plan for three years. The 36 month nbn plan could save eligible home owners over $2,700.

The 50/20 plan is free which is $77pm.
Need to pay the difference to access higher speed plans.

Terms:

Offer of $77/mth off the More XL Speed Boost nbn™ plan standard price for 3 years is for customers with conditional pre-approval of an eligible home loan who then find a property and fund $250,000 or more between 31 May 2022 and 31 December 2022. Offer is not available for Construction Loans. Offer must be claimed by 30 June 2023. Customers may upgrade to a faster More nbn™ plan at any time, in which case the customer must pay the additional plan fees above the $77/mth discount. If a customer wishes to select a cheaper plan, they will pay $0/mth for 3 years but will not receive a cashback for the difference. If the More XL Speed Boost nbn™ or any plan of the customer’s choosing has its features or pricing changed, customers will be notified. In the event that the customer’s plan of choice is no longer available, they will be notified and switched over to a comparable More nbn™ plan with terms and pricing closest to their existing plan and the offer will be applied to that plan. The offer may not apply in conjunction with other offers or discounts. Limit of one offer code per borrowing entity (e.g. individual, joint borrowers, company) and per customer. Limit of one offer code per joint application. Customers must maintain their home loan with CommBank and have a CommBank credit card or debit card to use the discount. This offer does not have to be used at the property that is being funded, the customer can choose to use the discount at any address where a More nbn™ service is confirmed as available. The promotional period commences from the day that your nbn™ service is activated on the nbn™ network. After 3 years the cost of your plan will revert to the Recommended Retail Price (RRP) current at that time. The RRP of More nbn™ plans are subject to change. The offer does not apply in relation to any modem charges, nbn™ New Development Fee or nbn™ New or Subsequent Copper Line charges or any fees in respect of additional services or usage. If you sign up, More will be your service provider for your nbn™ and will handle all technical enquiries, complaints and servicing. The provision of your nbn™ service will be subject to More’s standard terms of service and policies, which are available here on the More website. We reserve the right to withdraw or substitute this offer at any time.

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closed Comments

  • +14

    you'll need to get a loan with them to actually get the free NBN, not just preapproval.

    • +43

      Ozbargain: I want free NBN but not the loan

      • +10

        Where's the loophole where I can apply for the loan, get free NBN, then pay back the loan in full the next day? :P

        • +3

          Customers must maintain their home loan with CommBank and have a CommBank credit card or debit card to use the discount

        • Then you’re wasting your time here! XD go elsewhere

        • +13
          1. Get loan
          2. put entire loan balance in offset account
          3. free nbn for a few years
          4. ??? (Start an onlyfans)
          5. Profit
        • Wouldn't the fees be more than the nbn cost?

    • yeah https://www.commbank.com.au/latest/free-nbn-offer-more-telec…

      settle your home loan of at least $250,000 with us by 31 December 2022, you’ll get a free nbnTM plan for 3 years

  • +1

    Same infrastructure as Tangerine and Tangerine is great. Good deal.

    • +8

      only if the loan is a deal

    • Depends where you are. I was getting 5mbps on a 100mbit plan back in 2019 with Tangerine

  • +13

    Is this their way of withdrawing the normal $2k - $4k cashback? Pretty clever amortizing the cost over 36 months rather than a lump sum.

    • +15

      Yes CommBank very clever people. They also love money laundering:)

      • I thought Westpac, or is it just all of them?

        • +1

          I could tell ya but then Id have to kill ya

  • Note that the offer is not available for Construction Loans.

    • Boooooo

  • +1

    Getting a loan from them very soon. However, not sure if I want to change from my $80/m 100/40 from Optus because I won’t be able to get it back.

    • In 3 years time I certainly hope you can get a deal like that again.

  • +16

    Would rather take the $2700 upfront.

  • Get the tangerine as a 2nd service if your NBN box allows multiples.

    • +3

      what’s the point of having two services?

      sell it in the classifieds ;)

      This offer does not have to be used at the property that is being funded, the customer can choose to use the discount at any address where a More nbn™ service is confirmed as available.

      • what’s the point of having two services?

        I believe there is a way to combine two or more internet services to increase your bandwidth cumulatively.

        • I believe it is only if you have fttp even then it would be cheaper to get a higher speed than having two connections. (You cannot have 2 1gig connections)

  • +2

    Great deal. Now I just need to go buy a house. Any bargains?

    • Here's a sliver of land 1m2 x 1m2 studio. Rent is great tho, about $600 per week! Price is a very low $2.2 million.

      • +11

        $2.2 million to buy a 4 dimensional space is really cheap, even for just one Tube metre!

        • But the 4th dimension is time. All property exists for some length of time.

          You've been had!

          • +2

            @justtoreply:

            But the 4th dimension is time.

            It's misleading advertising then. 1m2 x 1m2 is definitely 1m^4.

            • @bio: Yeah, should be 1m3/s (?)

              • @justtoreply: I guess it should be 1 m³s. /s would mean rate, i.e. the change in volume per second.

                • @bio: That’s inflation for you.

        • I get that 1m x 1m (i.e. 1m²) is probably what orangetrain meant however…. if you think about it, 1m² on plan horizontally x 1m² vertically would create a cube which is a 3D space (not 4D). We just usually describe spaces based on floor area on plan in 2D….

          One interpretation of Orangetrain said is this studio is not only very small on plan, it is only 1m high ceiling height as well…. must be in Sydney

  • Is this open for all loans?

    • Only new loans.

  • +8

    Uncompetitive rates and inflexible when you want to negotiate lower rates down the track. Other lenders will try to lower rates to stay competitive, while you have a loan with them if you ask them nicely. Not CBA. If you ask, all they do is give you their brochure of published rates which are hardly competitive to begin with.
    Find a good broker, they can find you a better lender to suit, the saving would pay your NBN for 3 decades not 3 years LOL.

    • +1

      I am with CBA, while definitely their list rates aren't the best and you need to be proactive to get their best rates, I have had no issue with calling them and negotiating better rates.

      • +1

        May be I were not getting to the right person…

        • no idea, I do have a relationship manager at CBA (think most people get one allocated when you have loans or wealth packages with them), I just call him direct when I want something and he is pretty good. think the last interest rate adjustment I got was early last year.

          • @gromit: No - they don't. You must be of a certain relationship balance with the bank to have a dedicated relationship manager.

            Household Income over $150,000 + Borrow or invest over $850,000 are lowest benchmarks to get one I believe….

            and it counts - I knew someone who had one and got way better service and deals from the bank then I ever did back when I was with them (on the same products at the same time as I didn't qualify and was one of the lowly masses). I threatened to leave if they didn't match his rates and they basically said okay leave… so yeah that was the end of that.

            • @MrFrugalSpend: well fair enough, didn't realise there was a threshold for that, have had one for over decade. but income would have always been over that threshold even when investments weren't. I do find he is responsive to pretty much any request be it loan related or other products. I do also have my margin loan with them as well as the remnants of my house loan..

              • @gromit: I have heard they have good service for people with bigger dealings with them…They definitely selectively categorise service levels.

                …Average Joe with a few grand in the bank day to day, basic credit card, a single income family (or small casual second income), and a run of the mill smaller loan balance etc is just one of the numbers to wait on hold for hours and they read the non-negotiable service offering from a list (but only after reminding you that you can help yourself online… hint hint)

    • My broker, who's also a friend just got me a pretty good deal with CBA. 2.56% discount off their rates for the life of the loan (ends up being 2.24% as of now) + we get the $2000 to refinance with them from Westpac. And I'll just refinance in 2-4 years time to get another deal.

  • +1

    Only 30% discount for existing customers

    • Could you share the soruce?

      • +2

        In the deal link

        CBA is also offering all of its existing customers 30 per cent off More nbn plans for the first 12 months when they sign up using their CBA credit or debit card as their bill payment method.

    • +1

      Lame. 30% off already expensive NBN plans. So it's really like 15% and only for 12 months.

      • +1

        15% is still a good discount, especially when it is so easy to switch at the end. Sadly they don't have a plan that suits me, otherwise I would probably switch.

        • It's annoying that NBN Co is incompetent.

          I wish that the intro prices were permanent so people didn't have to jump around. NZ gets faster internet for cheaper and they're more spread out than Australia. NBN Co even gave a BS line that Starlink caused NBN's price to go up. Competition is meant to decrease cost…

          • +1

            @Caped Baldy: NZ is not more spread out than Australia. Australia has a fraction of the population density of NZ. NZ also like Australia has the bulk of its population in or in very close proximity to its main cities. Where Australia is different is the regional areas are much more expensive to reach and FYI even in NZ many of the regional areas have shit internet speeds.~80% of NZ's population live on the north island, an area less than half the size of victoria.

            To put it simply, our prices are so much more expensive as you are subsidising the country areas internet access.

            • @gromit: Yes - sort of. Except country areas not the main issue, moreso cost of supplying large block urban sprawl. Country areas only get wireless (essentially a phone tower somewhere in the district) or worse if more rural, satellite NBN.

  • Just settled 3 months ago. Would be nice to get this offer. Although I get the 30% off for 2 years which isn’t bad I guess

    • +1

      Isn't just 12 months?

      • +1

        Nope. Just checked my contract it definitely says 24 months.
        I know there is 12 months offer but I found the 24 months one and used it to sign up.
        This link here https://www.more.com.au/personal/commbank-awards#speeds
        I said 24 months 3 months ago when I signed up. Now it says 12 months.

        • 24 months was targeted I believe

  • +6

    How about a free home loan with an eligible NBN plan?

    • +3

      *Eligible NBN plans start at $10000 per month

  • -8

    avoid CBA like the plague.

    • +7

      The evidence you supplied is impeccable. I have no reason to doubt you.

      • Royal Commission not enough for you?

    • CBA is the most user friendly bank in Australia. What are you using?

      • +1

        lol

  • +3
  • +3

    This is just another form of cashback. Many home loans offered this.

    • Agree. Also better rates. Would never go back to cba. Currently with Bankwest. They have a great app, rate and customer service.

      • +3

        I hope you are aware that CBA own Bankwest

        • +2

          I am. Completely different experience.

          • +1

            @vanreek: yep, I've been with BankWest for years, their customer service is amazing.

            I also avoid CommBank, I went in for a homeloan assessment and specifically told them I did not want to sign up for a preapproval, then next minute I've got a $500,000 credit check on my credit profile…

  • Might want to run a VPN using this.

    • +1

      Why?

  • +4

    I’ve not seen CBA offer any competitive rates. You’ll be paying for this NBN deal one way or another - probably from capitalising out of financing credit you might have otherwise gotten through another lender.

    • +1

      100%. Would rather get a loan with a lender with a better interest rate than CBA, who tends to be one of the most expensive. Will save more than $2700 in interest over the years.

  • +3

    If anyone is looking to take up this offer or compare your current rates to what CBA can offer, please pm me as I work as a Home Loan Executive for CBA, will communicate through my work email/number to authenticate myself.

    • +8

      No one in their right mind would go with cba as their interest rates suck

      • +1

        Barring TicToc type lenders CBA was the cheapest for me across the Big4 and also other tier 2 lenders. Might be personal circumstance being larger loan and reasonable LVR (~50%). I was happy to take a nother lender but with the rates received and being an existing customer it made life easy.

        • Not for me despite banking with them since I left school. After trying several times, even going inside the bank to talk to their loan officer, showing them lower rates from other lenders, without them budging, I went to a trusted broker, refinanced a better deal with a tier 2 lender that includes an offset account and 100 basis points lower!

      • +2

        Appreciate your thoughts, but most of the lower rate banks will need you to have 20-30% deposit or loan paid off by that amount, and won't do construction/bridging loans.

        I'd like to keep it simple, a review (whether through your broker or bank lender) is a win/win situation, you come out it with peace of mind knowing you're already on a great deal, or get switched on a better deal - which is the ozBargain way

        • Time is valuable. If you can offer great rates on behalf of CBA please post a deal.

        • Appreciate your thoughts, but most of the lower rate banks will need you to have 20-30% deposit or loan paid off by that amount, and won't do construction/bridging loans

          CBA also require a low LVR for the best rate, which is still significantly higher than other banks.

          People please do your maths/research before signing up. In the long term a lower interest rate will save you much more than temporary free broadband.

        • What's the current deposit requirements for guarantor type loans?

          • @chadleyshe: No deposit as the guarantor will be essentially providing the deposit in the form of their property/security. Subject to credit approval of course.

    • +1

      Hey Super saiyan potatoe - Have you checked RateCity before commenting? RateCity shows homeloan rates as low as 2.09 and yes comparative rate is shown as well. CBA is nowhere near the top 10 lowest. :(…..

      • Yes am aware but moreso commenting on this deal specifically if anyone was interested in taking up the offer and didn't have a contact.

    • Hi mate, partner and I will be looking to apply for preapproval once more slots open up in the no LMI scheme- would love to discuss with you any benefits for applying through CBA or even book in with you once slots become available?

  • +3

    "The 50/20 plan is free which is $77pm" - wong……. i switch between operators every six months….thereby paying just 54~59$/m

    • +1

      The $77/m pricing is Jacked up anyway. Tangerine through WhistleOut offers $55/m first 6 months and then $70/m. No way More costs $7 more than Tangerine. That 30% off is literally ~21.4% off.

    • Who are your go to providers?

      • +1

        Internode, SuperLoop, Exetel, Tangerine.

        • Any issues with speed, service or churn times? What tech are you on?

          • @sween64: Simply switch between them every 6 months and use Shopback for $99 cashback.

  • $77pm for 3 years, so $2,772 total. How is this a better deal than, $4,000 cashback promos (St. George, for example)?

    • It's not. Not even close, but it gets you using a telco that CBA owns 25% of ;)
      It also makes you a very sticky customer as you'd be unlikely to move elsewhere during those 3 years.

      • I prefer to be a sticky customer if this is a good and free service :D
        We recently bought our first home with CBA loan, so should use it :D

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