Commonwealth Bank have cut fixed rates for both owner occupied and investment home loans.

Those who take on a three year fixed loan with CBA will now pay 5.59% p.a (7.20% p.a comparison rate*) in interest if they intend to live in the property, while investors will be charged 5.65% p.a. (6.04% p.a comparison rate*).

Australia's largest bank is following a trend set by several smaller banks and lenders that have cut fixed rates over the past few weeks, including ING, which slashed fixed rates by 25 basis points at the start of this month.

CBA's rates only apply to customers who pay for the Wealth Package, which involves a $395 annual fee.

However, CBA also announced earlier this week increases of up to 12 basis points on variable rate home loans for new customers - again for Wealth Package Customers.

LVR Rate (Basis point increase) Comparison rate*
<60% 5.44% p.a (+0.10) 5.83% p.a
60%-70% 5.54% p.a (+0.12) 5.93% p.a
70%-80% 5.64% p.a (+0.12) 6.03% p.a
80%-90% 6.19% p.a (unchanged) 6.57% p.a
90%-95% 6.99% p.a (unchanged) 7.36% p.a
Variable rate without wealth package 8.05% p.a (unchanged) 8.19% p.a

This comes after NAB announced it will grandfather its packaged home loans from mid-March, while ANZ binned its 'Breakfree' products after legal turmoil in 2022.

Westpac continues to offer its Premier Advantage package.

CBA introduces green car loan for businesses

CBA announced it will offer a discounted rate for green cars for businesses, with one percentage point slashed off the standard rate.

This applies to new or used electric or hydrogen cars, trucks, vans or buses up to the value of $250,000.

“This new green asset finance offering is designed to assist companies in the manufacturing, logistics and construction sectors who are focused on lowering their running costs and energy wastage, while also reducing carbon emissions," said Chris Moldrich, CBA's general manager of asset finance.

There will also be a 50 basis point reduction in the interest rate on loans used to finance associated equipment such as charging and storage assets.

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Buying a home or looking to refinance? The table below features home loans with some of the lowest interest rates on the market for owner occupiers.

Update resultsUpdate
Filters
LenderHome LoanInterest Rate Comparison Rate* Monthly Repayment Repayment type Rate Type Offset Redraw Ongoing Fees Upfront Fees LVR Lump Sum Repayment Additional Repayments Split Loan Option TagsFeaturesLinkCompare
6.04% p.a.
6.06% p.a.
$2,408
Principal & Interest
Variable
$0
$530
70%
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5.99% p.a.
5.90% p.a.
$2,396
Principal & Interest
Variable
$0
$0
80%
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  • No application or ongoing fees. Annual rate discount
  • Unlimited redraws & additional repayments. LVR <80%
  • A low-rate variable home loan from a 100% online lender. Backed by the Commonwealth Bank.
5.99% p.a.
6.51% p.a.
$2,589
Principal & Interest
Variable
$0
$530
90%
Important Information and Comparison Rate Warning

Base criteria of: a $400,000 loan amount, variable, fixed, principal and interest (P&I) home loans with an LVR (loan-to-value) ratio of at least 80%. However, the ‘Compare Home Loans’ table allows for calculations to be made on variables as selected and input by the user. Some products will be marked as promoted, featured or sponsored and may appear prominently in the tables regardless of their attributes. All products will list the LVR with the product and rate which are clearly published on the product provider’s website. Monthly repayments, once the base criteria are altered by the user, will be based on the selected products’ advertised rates and determined by the loan amount, repayment type, loan term and LVR as input by the user/you. *The Comparison rate is based on a $150,000 loan over 25 years. Warning: this comparison rate is true only for this example and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Rates correct as of . View disclaimer.



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