Owner Occupied P&I Variable 2.29% No Annual Fee, 1-Year Fixed from 1.99% + $2,000 Bank Cashback @ CBA

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AssociatedLen -Bundle Loans @ Bundle Property Home Loans on 15/10/2021 - 19:36 commbank.com.au (324 clicks)
Last edited 05/02/2022 - 21:25 by 3 other users

CBA lowest variable rates ever from 2.29% no annual fee + $2,000 CBA bank cashback

$2,000 CBA bank cashback

(>$250k)

Owner Occupied P&I

2.29% (CPR 2.30%) Extra home loan variable no annual fee, no offset. <70LVR (+0.1% if <80LVR)
Package offset rates by pricing approval - please contact us.
1 Year Fixed - 1.99% P&I - (4.10% CPR )
2 Year Fixed - 2.09% P&I - (3.96% CPR )
3 Year Fixed - 2.29% P&I - (3.87% CPR )

Investor P&I

2.89% (CPR 2.90%) Extra home loan variable no annual fee, no offset. <70LVR (+0.1% if <80LVR)
Package offset rates by pricing approval - please contact us.
2 Year Fixed - 2.64% P&I - (4.81% CPR )
3 Year Fixed - 2.54% P&I - (4.59% CPR )

Product fees:
$200 once off settlement fee
Extra Home loan has no annual fees.
If Package offset or fixed, 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 up to $6,000 cashback other lenders

Please contact us for these offers.

$3,000 ING - per application (>$500k loan size but can owe less) - variable no fee from 2.24%, fixed 2yr 1.89%.
$3,000 St George/Bank of Melbourne, fixed 2yr 1.79%, 85%LVR no LMI. $395 package offset annual fee
$3,000 Westpac, variable from 1.99% no annual fee
$3,000 - $6,000 (up to) PURCHASE OR REFI Citibank, fixed 2yr 1.89%, 3yr 1.99%

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PLUS up to 0.4% eg $4,000 broker rebate per loan (on top of bank cashback, available via broker only, not via the bank)

In ADDITION to bank rebates, we have 0.3% - 0.4% broker rebate (based on net of offset/redraw ie balance owing) for ANY bank or product. (Loans >$250k paid as eGift cards from any retailer of your choice 50/50 at 2 and 24 months after settlement).

Contact us for this offer

Please email [email protected] at first instance and we will reply ASAP.
Missed calls and OzB messages may get delayed.
If you don't get email reply within 24-48hrs (some emails go into our spam), pls call us or text us.

Len
Bundle Property Home Loans
Please email [email protected] at first instance and we will reply ASAP.
T: (02) 9698 7186
M: 0422354868
ACL 445947

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• 

  HolyCr4p on 15/10/2021 - 19:38

  +8

  Thanks for the ads ! Any bargains?

• 

  AssociatedLen -Bundle Loans @ Bundle Property Home Loans on 15/10/2021 - 19:38

  +13

  Regarding higher fixed Comparison Rates (CPR):
  There is a common misconception that lower comparison rates CPR is better because it means less fees - not necessarily and can actually cost your more, here's why:
  - "Comparison rates" were invented by the government to reflect lender fees over the life of the loan.
  - CPR is based on a loan size of $150k over 25 years. This is irrelevant for most customers and the calculation of CPR is actually misleading and can cost you more money.
  - If your loan is larger than $150k, then it is better to pick a lender with a lower ACTUAL rate (even if the CPR is higher) as it will save you more interest each year, and the set fees has a relatively smaller impact on a larger loan. Of course take into account all the fees eg $395 annual fees, see our example below.
  For larger loans, a lower ACTUAL rate (with a higher CPR) is often better than a higher actual rate (with a lower CPR).
  - Hence CPR can be misleading. A lower CPR can be more expensive than a higher CPR with lower ACTUAL rate. The correct approach is to look at the ACTUAL rate plus all fees involved, rather than the CPR.

  For example, the CPR may be high for a few reasons:
  1. It may incl the $395 annual fee x 25 years = $9,875. This extremely high amount heavily inflates the CPR on a low $150k loan to make the rate appear much higher than it actually is. On an average $395k loan, $395 annual fee is equivalent to only 0.1% rate increase.
  2. The fixed product CPR is even higher due to after fixed period expiry, it defaults to a much higher variable rate of 4%-5% with no discount. In reality after fixed expiry, we always negotiate another pricing discount similar to the current variable discount or refinance. Customers usually refinance after 2-3 years and never stay at 4%-5% rate at the same bank for 30 years
  3. Smaller online lenders have low CPR but often have up $2,000 in application, valuation, legal, discharge fees. In calculation of the CPR, $2000 is negligible over 25 years, but its a huge cost charged every time you refinance every 2 years, equivalent to 0.5% on a $400k loan. Smaller lenders have a lower CPR as they have no annual fee, but often a large upfront/setup/discharge fee. The CPR is a very misleading number and a low CPR can actually cost you more than a higher CPR with lower actual rate.

  • 

    jay9 on 15/10/2021 - 20:21

    +2

    No idea why you're getting negged for this. Its all very true

  • 

    CalmLemons on 16/10/2021 - 00:29

    +1

    Thanks for just about to ask this, so:

    If I have a $1million loan, the actual rate and CPR are pretty much going to be the same, as any fees, literally just the $395 annual fee and what, a few hundred dollars setup fee will pretty much be negligible, am I correct?

• 

  Goldsmen on 15/10/2021 - 20:16

  +4

  Can existing customers get 2.29% variable? or is it better to just move the loan elsewhere rather than fight with CBA

  • 

    jcarl on 15/10/2021 - 20:18

    +1

    Also would love to know this. I've tried several times and they refused to lower my rate. Long term CBA customer too. Ready to take my loan elsewhere

    • 

      RocketSwitch on 15/10/2021 - 21:48

      Me too, sick of their shit.

    • 

      tunzafun001 on 16/10/2021 - 02:11

      +2

      They will say you pay extra for the privilege of being able to go into a branch. Had loans for 20 years. Never been, nor wanted to go into a branch unless I had to.

      Before CBA I was with the small credit unions. When you call a number, someone actually answers. With CBA..press 1, press 3 ,press 2…sorry try later..

      Also, can get fixed rates with 100% offset elsewhere. CBA dont offer them. Lastly, I hate their netbanking product (supposed to be good), but the basics are crap.

      Their package fee gives you nothing that isn't normally included for free. Even giving you a credit card with no annual fee isn't that great, as their cards are crap. I got the 70k points and $2k sign-on, which they will just get back with exit fees (got to love how 'dishcharge fees are illegal but "exit fees' are allowed). Time to move on.

      • 

        RocketSwitch on 16/10/2021 - 09:53

        100%, enough is enough!

      • 

        DH on 16/10/2021 - 10:30

        Isn't it very CBA to force you to go into the bank for things you would expect to be online? Such as changing the account I pay my interest from.

        Also hardly any branches are open on the weekend.

  • 

    TSIF on 15/10/2021 - 20:21

    I would also like to know this. My Extra Home Loan is 2.97%

    • 

      Theseed on 15/10/2021 - 20:49

      +1

      They will drop the rate if you speak to the home loan retention team but not to the extent a new customer can get because they think that existing customer would not take the hassle to refinance because you need to prepare quite a few documents.

  • 

    honkyb on 16/10/2021 - 10:05

    I'd call them like I'm going to do on Monday and say I want the same offer

  • 

    DH on 16/10/2021 - 10:24

    Wonder how many people are stuck on interest only construction loans, build is slightly taking a little longer all I can do is offset part of it at the moment.

• 

  Theseed on 15/10/2021 - 20:53

  "In ADDITION to bank rebates, we have 0.3% - 0.4% broker rebate (based on net of offset/redraw ie balance owing) for ANY bank or product."

  So you get some kind of rebate from the bank based on net of offset/redraw ie balance owing and pass it on to your customer?

• 

  roughana on 15/10/2021 - 21:36

  Any monthly fee?

• 

  heal on 15/10/2021 - 21:43

  I got 2.49% fixed investment loan and 2.19% owner occupied loan just over 12 months ago with CommBank. I got $2k cashback on 1 loan, the investment loan was too small to qualify for cashback. I didn't get a broker rebate. It seems rates are going up.

• 

  [Deactivated] on 15/10/2021 - 22:58

  I got 600k investment loan with 2.49% pa ( 80% LVR) 2 years fixed Principal and interest with Macquarie.
  What are better options for switching in terms of better rates and any cashback?

• 

  bashar20 on 15/10/2021 - 23:35

  What’s CBA variable rate with offset account?

• 

  CalmLemons on 16/10/2021 - 00:30

  Investor P&I
  2.89% (CPR 2.90%) Extra home loan variable no annual fee, no offset. <70LVR (+0.1% if <80LVR)
  Package offset rates by pricing approval - please contact us.
  2 Year Fixed - 2.64% P&I - (4.81% CPR )
  3 Year Fixed - 2.54% P&I - (4.59% CPR )

  is the 2.99% 80% a variable rate?- would assume so.

• 

  abhiz on 16/10/2021 - 01:09

  Any refinance offer for less than 250k. I am sitting at 210k.

  • 

    Gary Gary Gary on 16/10/2021 - 07:37

    +4

    Borrow the 250 and just pay 40 off straight away when the loan is approved.

• 

  Caleb9295 on 16/10/2021 - 07:26

  So overall, the standard variable rate + offset account wealth package has gone up with interest?

  But they are making the 1-2 years fixed rate lower to bait people in?

  Because my current Standard Variable Rate + offset + annual fee is 2.9% for owner occupier. But their website says its 3.85%.

• 

  ShanghaiRocks on 21/10/2021 - 12:08

  So, OP, if I am doing 1 year fixed with CBA. What sort of fees and changes involved over the year? What is the cashback involved?