CommBank (Commonwealth Bank) Home Loan & Mortgage Review (2026)
Rates verified 18 August 2026
Rates can change without notice. Last verified: 18 August 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.
CommBank's Home Loan Range at a Glance
Searching for a CommBank mortgage turns up several products, and it helps to know which is which:
- Standard Variable Rate with Wealth Package — the flagship packaged loan reviewed on this page: discounted rate, multiple offset accounts, and fee waivers for a $395 annual fee.
- Extra Home Loan — CommBank's basic no-package loan: a lower advertised rate with no annual fee, but redraw only — no offset accounts.
- Fixed rate loans — 1–5 year terms, also discounted under the Wealth Package; many borrowers split between fixed and variable.
- Unloan — CommBank's standalone digital brand, offering a refinance-only variable loan at a meaningfully lower rate than the branch products. Read our Unloan review or see CommBank vs Unloan head-to-head.
CommBank Offset Accounts
Offset is the main reason to choose the Wealth Package loan over cheaper no-frills alternatives. CommBank's Everyday Offset works as a full transaction account whose balance offsets your loan principal dollar-for-dollar before interest is calculated — and this loan supports multiple offset accounts, so a household can point salary, savings and bills accounts at the same mortgage. Note the basic Extra Home Loan doesn't offer offset at all (redraw only), so if offset matters to your cash flow, the packaged loan is CommBank's only variable option. Our offset accounts explainer covers how much an offset can actually save.
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, annual package fee
- NAB Base Variable Rate Home Loan6.44% p.a. — comparable rates at similar LVRs
- Westpac Flexi First Option (Online Offer)5.99% p.a. — comparable rates at similar LVRs
Compare head-to-head
Related guides
FAQs
What is CommBank's best home loan rate?
CommBank's Standard Variable Rate with the Wealth Package starts at 6.34% p.a. (comparison rate 6.72% p.a.) for owner-occupiers paying principal and interest with an LVR of 60% or below. The Wealth Package costs $395 per year. CommBank is Australia's largest mortgage lender.
What are CommBank's home loan interest rates?
CommBank (Commonwealth Bank) home loan rates on the Standard Variable Rate with Wealth Package are tiered by deposit size (LVR): 6.34% p.a. at ≤60% LVR, 6.39% (60–70%), 6.49% (70–80%), 6.79% (80–90%) and 7.74% (90–95%) — all owner-occupier, principal and interest. Comparison rates include the $395/year package fee.
What is the CommBank Wealth Package?
The CommBank Wealth Package is an annual package ($395/year) that bundles the home loan with discounted rates and waived fees across other CommBank products. The rate listed (6.34% p.a.) is the Wealth Package rate, not the standard variable rate (which is higher). The $395 fee is included in the comparison rate.
Is the CommBank Wealth Package worth it?
It depends on your loan size. The Wealth Package costs $395/year and gives a discounted rate (the 6.34% p.a. shown is the package rate, not the higher standard variable rate), plus fee waivers across eligible CommBank products and multiple offset accounts. On a larger loan the rate discount comfortably outweighs the $395 fee; on a small balance it may not. The fee is already included in the comparison rate, so compare that figure — and note online lenders often undercut CommBank even after the package discount.
Does CommBank offer offset accounts on its home loans?
Yes. CommBank's Standard Variable Rate (Wealth Package) supports multiple Everyday Offset accounts, which can help reduce the interest you pay on your loan. CommBank's basic Extra Home Loan does not include offset — it offers redraw only.
Are CBA, CommBank and Commonwealth Bank the same bank?
Yes — Commonwealth Bank of Australia is the full name, commonly shortened to CommBank or CBA. All three refer to the same lender, Australia's largest mortgage provider. Unloan is also part of the group: it's CommBank's standalone digital refinance brand with its own lower-rate loan.
Rates verified 18 August 2026. Variable rates change without notice. Comparison rate based on $150,000 over 25 years and includes the $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.