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Product Name |
Rate Saver Home Loan 3 Yr Special Variable |
Lender |
Commonwealth Bank |
|
Initial Rate % |
6.68 |
Intro Rate |
 |
|
Initial Period |
36 months
|
Ongoing Rate % |
6.85 |
|
Interest Type (Initial) |
Basic Variable |
Repayment (initial) |
P&I or I/O |
|
Interest type (ongoing) |
Basic Variable |
Repayment (after initial) |
Principal and Interest |
|
Max Term Fixed Rate % |
0 |
Max Term Interest Only % |
5 |
|
Repayment Frequency |
Fortnightly, Monthly, Weekly |
Maximum No of Loan Splits |
1 |
Extended Information
|
States Available |
ACT, New South Wales, Northern Territory, Queensland, South Australia, Tasmania, Victoria, Western Australia |
Financials Required |
|
|
Product Type(s) |
Bridging,Bridging,Construction,Construction,Equity,Equity,Investment,Investment,Owner Occupied,Owner Occupied,Vacant Land,Vacant Land, |
Non-conforming |
 |
|
Notes
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Eligibility Criteria: Only available for new loans ? switching from an existing Commonwealth Bank home/investment home loan is not permitted.
From Thursday 26 August 2010 to Sunday 31 October 2010, customers applying for a 3 Year Special Rate Saver Home/Investment Home Loan will pay $0 Establishment Fee (a saving of $600 upfront).
This special offer will apply in conjunction with the current offer of $0 Loan Service Fee for the life of the loan (a saving of $96 per year).
Max term of 5 Yrs Interest Only at a time, with Max Term of 10 yrs Interest Only for Non-Investment loans and 15 yrs Interest only for Investment loans. Redraw not available on Interest only loans for the full term of the loan.
Redraw minimum of $500 by electronic redraw and $2000 if Branch assisted, both incur a $50 Fee.
Additional repayments allowed - no maximum. Rate Lock not available on this product.
For Construction loans $50 fee applies for each Progress Draw. |
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Loan Size/LVR |
|
Minimum Loan Amount $
|
10,000.00 |
Maximum Loan Amount $
|
99,999,999.00 |
Capitalise LMI
|
|
|
Maximum LVR %
|
95 |
Minimum Loan Term
|
0 |
Max Loan Term
|
30 |
|
Loan Fees |
|
Establishment $ |
0.00 |
|
Cost to switch to fixed $ |
300.00 |
|
Application Fee $ |
0.00 |
Exit Fee $ |
350.00 |
|
Valuation Fee $ |
0.00 |
Ongoing Fees $ |
0.00 |
|
Legal/Solicitor Fee $ |
0.00 |
Ongoing Fee Notes |
$8 monthly (currently waived).
The monthly loan service fee waiver is a limited offer which is still available as per Colonial CBA offer |
|
Settlement Fee $ |
150.00 |
|
|
Upfront Fees $ |
150.00 |
|
Break cost conditions |
|
|
Early Repayment Fee Notes |
$700 Deferred Establishment fee applies if loan paid out in first 4 years. This is paid in addition to the $350 exit fee. |
|
Other borrowing costs $
|
0.00 |
Other Fee Notes |
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Services |
|
Internet Banking |
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Telephone Banking |
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Credit Card Option |
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Bpay Option |
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Portability of loan |
|
Professional Pack |
|
|
Cheque account access |
|
Reverse Mortgage |
|
Free Transactions per month
|
0 |
|
Redraw Available |
|
Minimum Redraw $
|
500.00 |
|
|
Offset Account |
No |
Direct Salary Credit |
|
|
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Access Fees |
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Loan Redraw fee $
|
50.00 |
ATM own wdfee $
|
0.00 |
Fee per Cheque $
|
0.00 |
|
EFTPOS fee $
|
0.00 |
Internet banking fee $
|
0.00 |
Internet access fee $
|
0.00 |
|
Bpay charges $
|
0.00 |
|
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