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Last Updated: 1st November, 2022
Commonwealth Bank is a major lender in Australia. It has a diverse range of loan options that can be adapted to your specific requirements. The bank also offers a wide range of financial services, including retail, premium, commercial, and institutional banking, as well as superannuation, insurance, and share-broking products and services. The financial status, credit history and property requirements of each investor are unique. Comparing loan packages from various lenders will help you locate the best loan for you. CBA offers three investment loan packages: the Extra Home Loan, Fixed Rate package, and Standard Variable Rate package. Here are the details of their options and features:

Investment Loan Packages

Extra Home Loan

Fixed Rate

Standard Variable Rate
A loan with a low variable rate A loan that fixes your interest rate for 1 to 5 years A variable rate home loan with a lot of features
  • Competitive variable interest rate
  • Unlimited additional repayments
  • Unlimited redraws
  • Option to split loan
  • Wealth Package savings, including an interest rate discount
  • Protected from interest rate rises
  • Option for rate lock feature at the reduced fee of $750
  • Additional repayments up to $10,000 in a year
  • Option to split loan
  • Wealth Package savings, including an interest rate discount
  • Link multiple offsets
  • Unlimited additional repayments
  • Unlimited redraws
  • Option to split loan
  • Does not provide access to an Everyday Offset account or a Wealth Package
  • Repayment amounts change when interest rates change
  • Not available to company or trust borrowers
  • No offset account
  • No redraws
  • Rate drops won’t apply during fixed term
  • No top-ups
  • Charges may apply for additional repayments over $10,000 in a year
  • A higher interest rate than the Extra home loan
  • Repayment amounts change when interest rates change

CBA Investment Loan Client Story

Goal

Dan and Isabella Morrison wanted to refinance their owner-occupied property and cash out the maximum available equity to purchase investment properties.

Story

Dan and Isabella had an existing loan with CBA. They came in touch with Home Loan Experts mortgage broker Jonathan for assistance. While shopping around for the best deals, Jonathan found out that NAB offered competitive rates, compared with CBA. So, he initially submitted two deals to NAB. The refinance deal was formally approved, and the purchase deal was pre-approved right after the submission. CBA tried to retain the clients, however, and promised them a better fixed rate of 2.49% for two years without rate lock charges Their offer was given on 17 January and was set to expire in two weeks. Since applications were lodged with NAB already, Jonathan attempted to negotiate a better deal with that bank. But NAB did not offer a better rate than CBA’s. The clients were interested in staying with CBA, so the main challenge was submitting the deal with CBA within the two-week window. Jonathan immediately submitted the deal with CBA for a loan increase and a new pre-approval for an investment loan on 31 January. CBA sent formal approval soon after that – on 2 February. The deal was settled on 18 February. It was a quick process because most of the documents from the client were already prepared.

A Happy Ending

The clients were delighted that CBA tried to retain them by lowering the interest rates. They were also thankful to Jonathan for guiding them and doing all the legwork on their behalf.

We’re Here To Help

We can assist you in obtaining an investment loan with CBA. On your behalf, our brokers can negotiate and obtain favourable CBA investment loan rates. Not only that, but they can also help you with the paperwork and provide support from application to settlement. To book a consultation with a Home Loan Expert broker instantly, please call us on 1300 889 743 or fill in our online assessment form.