• expired

CBA 2 Year Fixed Rate 4.99% (Comp. Rate 6.09%) Plus $300 Coles Gift Card (Existing Customers)


We are offering a $300 Coles Myer Gift Card (or cash if you prefer) to existing CBA customers that switch their variable rate home loan to the CBA 2 Year Fixed rate of 4.99% (comp. rate 6.09%) under the Mortgage Advantage Package or 5.14% (comp. rate 6.29%) outside of the package.


  • 2 Year Fixed Rate at 4.99% under the Mortgage Advantage Package ($375 annual fee) or 5.14% outside of the package ($8 monthly fee)
  • FREE Switching Fee (Excluding 12 Month Discounted Variable Rate, Fixed Rate or 1 Year Guaranteed Rate, low doc)
  • $300 Coles Myer Gift Card or $300 transferred directly into your account


  • Minimum switch loan amount is $200,000
  • Current loan must be broker originated


  1. Complete the form below
  2. email your most recent printed home loan statement
  3. We will call you and email the switch form for you signature
  4. CBA takes up to 5 working days to process the switch
  5. We will transfer the $300 into your nominated account or post out the Coles Myer gift card (your choice) when confirmation of the switch has been received

All comparison rates are calculated on the basis of secured credit of $150,000 over a 25 year term. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

Related Stores

Cash Back Mortgage
Cash Back Mortgage

closed Comments

  • Wow, I don't think I've ever seen a comparison rate so much higher than the advertised one. I also love the $300 gift card when you pay the $375 annual fee. Look guys we'll only take $450 ($750-$300 GC) off you in the next 2 years.

    • The Gift card is from us, not the CBA. It is for existing customers who may already be on that product and see value in it.

      • If they are on that product they probably aren't on OzBargain.

        And if they are going to change they can probably do much better.

        • Every persons circumstances are different and CBA is the biggest mortgage provider so there would be lots of people here that have a home loan with them. There are other benefits in the package and a lot of people dont like changing banks because of the costs such as discharge fees, govt fees and the potential fees with the new lender. When you take into consideration these costs there would have to be a fairly big discount off the CBA rate. This rate is very competitive in the market.

        • I thought Westpac was the biggest home mortgage lender in Australia?

          (Doesn't stop Westpac/BankSA/St.George/Bank of Melb being a pack of arseholes though. Would go with CBA/Bankwest every time)

        • CBA is the biggest mortgage provider

          Called into question.

          discharge fees, govt fees and the potential fees with the new lender.

          This is EXACTLY the type of scare campaign that the government has been trying to legislate against, and you should be careful what you say.

          There are other benefits in the package

          So explain why this is better than so many others that look better to me.

          On a side note, I find using your site to be painful, why can't I just sort by interest rates? Why doesn't the summary table include annual fees?

    • This deal is perfect for me, I have been with the CBA for years and the saving you receive for the MAV package easily outweigh the FEES,

      ie we save on LSF for all 3 housing loans
      we get free travel insurance. Thats already $700 saved in one year and we also receive discounted interest rate.

      I will do a few sums tonight, and I vowed never to return to fixed again, but can the rates go lower.

      At the moment I'm 5.80% with the CBA

      • I will do a few sums tonight, and I vowed never to return to fixed again, but can the rates go lower.

        It is always a gamble, but generally assume that the bank is gambling with higher odds and better information than you are.

        At the moment I'm 5.80% with the CBA

        You can almost certainly do better than this.

        See what teh_gimp says below. I recommend getting a competing offer that is better (shouldn't be too hard) and go into your branch waving it around and see what happens.

      • make sure you have read terms before signup specially breakup fee & penalty rate for additional payment .
        ps :this deal might/will move you from direct customer to broker's customer

  • i am not sure what you mean by scare campaign as that is factual info. For the fees we group them under the "Fees" tab, there is a limited amount of screen real estate so we cant have all the info under one tab. We are working on adding more sort options but at the moment you can sort by lender, loan amount, loan to value ratio, fixed or variable and about 15 others under the advanced tab.

  • For what it is worth, Commonwealth are also offering this offer for existing customers but providing (from memory) a $700 cash incentive to help with exit fees from your current mortgage provider.

    I'd suggest having a chat with your local commonwealth bank to find out more.

    • The $700 refinance campaign is for new customers to the bank. This offer is for existing CBA customers that want to move to a fixed rate product.

  • Who is offering a better 2 year fixed rate?

    Thanks in advance

  • i don't see no bargain here. if anything more trouble later down the track trying to change banks again.

  • why does the current loan have to be broker originated???

    • As silly as it sounds, you will find that broker originated loans have better rates than bank branch originated loans, despite them costing banks thousands in broker commission.

      A bank lender once said he can get me a lower rate if he placed me through one of the brokers on the bank's list (rather than applying directly through him).

      • thats crap. i work for a bank and a mate works for a broker. i know the real reason why.. it was to see if the rep would divulge… its to do with the trail commission that the brokerage firm will receive from the bank

        • And a true OzBargainer would be getting most if not all of their trailing commission back ;)
          I lose $60 per year of mine to the guys I use but depending on the size of the loan and how much you have in offset it's still better in your pocket than the broker's.

          In this example assuming a 0.2% trailing for the first year, the commission would be just under $400. I'm too lazy to work out the exact figure. That's better than the $300 being offered and you still get money in the subsequent years. Also, the trailing commissions tend to go up somewhere between years 2-5 (lender dependent). I haven't checked out the commission figures for a while now so I'm unsure what it is for CBA.

  • I just changed mine to Fixed for 4.99 with CBA last week. My mortgage is through a broker. But I wouldn't be eligible for this anyway because I only fixed part of the loan which is 180k only.

  • IIRC there is also a switching fee.

    • There is no switching fee for most products

      • There is no switching fee for most products

        a lot of people dont like changing banks because of the costs such as discharge fees, govt fees and the potential fees with the new lender.

        I find it a bit much that you are making both of these statements in the same page.

        • I dont understand what you are getting at? The deal is for existing CBA customers changing to another CBA product so there is no discharge of the current mortgage or their associated costs. A switch fee is a fee that banks charge for changing products, if you read the post it tells what products are excluded from the free switch.

  • I don't think it's a bad deal if you are already with CBA. Paying interest abnd fees are painful be it variable or fixed, big or small. There are many people who are already with this package with CBA for other reasons or just for the sake of not wanting to change the banks and deal with that hassle, then this is not bad getting extra $300.
    Anybody know where this $300 come from? (don't say that it ultimately come out from our own pockets as interest)

  • I think it is a bit harsh to neg the deal. If you are after fixed rate, rathen than going to CBA directly, you could go via Rep and get the $300 voucher with no additional cost from your end.

    • it might not be a bad deal, but it's not a bargain nor does it apply to anyone who's not with CBA

  • Rep, does CBA also include Bankwest?

    Edit - WOW!! Just had a look at Rep's history. Every one of their posts has been neg'd!!