CommBank (Commonwealth Bank) Home Loan & Mortgage Review (2026)
Rates verified 21 June 2026
Rates can change without notice. Last verified: 21 June 2026 (AEST). Please confirm details on the bank’s official page.
Best rate (OO P&I)
6.34%
p.a. at ≤60% LVR
Comparison rate
6.72%
p.a. (incl. $395/year package)
Offset accounts
Multiple
supported on this loan
About CommBank Home Loans
Commonwealth Bank is Australia's largest mortgage lender, holding a significant share of the residential lending market. The Standard Variable Rate with Wealth Package is CommBank's flagship packaged home loan, offering a rate discount in exchange for a $395 annual package fee.
The key feature distinguishing this loan from no-frills products is offset account support — CommBank allows multiple offset accounts to be linked, helping borrowers reduce interest by holding savings and transaction balances against the loan. This is particularly valuable for households with multiple income streams or savings goals.
The comparison rate (6.72% p.a.) is notably higher than the advertised rate (6.34%) due to the $395 annual package fee. This gap is wider than on loans without a package fee, so it's important to factor in the package cost when comparing.
Standard Variable Rate (Wealth Package) — Rates by LVR
| LVR | Rate (p.a.) | Comparison rate |
|---|---|---|
| ≤60% | 6.34% | 6.72% p.a. |
| 60–70% | 6.39% | 6.77% p.a. |
| 70–80% | 6.49% | 6.87% p.a. |
| 80–90% | 6.79% | 7.16% p.a. |
| 90–95% | 7.74% | 8.10% p.a. |
Owner-occupier, principal and interest. Comparison rate includes $395/year Wealth Package fee, based on $150,000 over 25 years. LMI applies above 80% LVR. Check CommBank's website for current rates.
Pros and Cons
Pros
- ✓ Multiple offset accounts supported
- ✓ Australia's largest lender — wide broker and branch support
- ✓ NetBank and CommBank app for full digital management
- ✓ Redraw facility included
- ✓ Wealth Package bundles discounts across other CommBank products
Cons
- ✗ $395/year package fee — widens comparison rate gap
- ✗ Rate above digital lenders (ubank, Unloan)
- ✗ Best rate (6.34%) only at ≤60% LVR
- ✗ Rate at 90–95% LVR (7.74%) is significantly higher
Is the CommBank Wealth Package worth it?
The Wealth Package costs $395 a year, and in return you get a discounted home loan rate (the 6.34% p.a. shown above is the package rate, not the higher standard variable rate), fee waivers across eligible CommBank accounts and credit cards, and multiple offset accounts. Whether it pays off comes down to your loan size: on a larger mortgage the rate discount comfortably outweighs the $395 fee, while on a small balance the fee can erode the benefit. The fee is already baked into the comparison rate, so compare that against other lenders rather than the headline rate. Even then, the sharpest online lenders tend to undercut CommBank after the discount — see how it stacks up in our best home loans guide.
How It Compares
Unloan (backed by CommBank) offers a significantly lower rate than CommBank's own products. Borrowers prioritising rate should compare Unloan as an alternative.
- Unloan (CBA) Refinance Variable5.89% p.a. — no package fee, offset included
- St.George Basic Home Loan6.29% p.a. — ≤70% LVR, no annual fee
- CommBank Standard Variable Rate (Wealth Package)Reviewed here6.34% p.a. — ≤60% LVR, $395/year fee
- NAB Base Variable Rate Home Loan6.44% p.a. — comparable rates at similar LVRs
- Westpac Flexi First Option (Online Offer)6.44% p.a. — comparable rates at similar LVRs
Compare head-to-head
Related guides
Rates verified 21 June 2026. Variable rates change without notice. Comparison rate based on $150,000 over 25 years and includes $395/year Wealth Package fee. 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. This is not financial advice.