CommBank Home Loan Review (2026)
Rates verified 18 May 2026
Rates can change without notice. Last verified: 18 May 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
How It Compares
- Unloan (CBA digital): ~5.74% — no package fee, offset included
- ubank: ~5.79% — digital lender, strong ongoing rate
- St.George: 6.29% for ≤70% LVR, no annual fee
- CommBank Wealth Package: 6.34% for ≤60% LVR, $395/year fee
- NAB / Westpac: comparable rates at similar LVRs
Unloan (backed by CommBank) offers a significantly lower rate than CommBank's own products. Borrowers prioritising rate should compare Unloan as an alternative.
Rates verified 18 May 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.