Servicing your home loan

As a Commonwealth Bank Home Loan customer, you have access to a home loan that suits your changing needs. Whether that's finding ways to pay off your loan faster, or adapting your loan to meet your lifestyle, you can always have the right home loan for you.

Servicing made easier

We understand that sometimes it's difficult for all borrowers to take the time to come into a branch and sign documents. That's why we have introduced a 'method of operation' on your home loan.

If there is more than one borrower on the loan you can nominate a method of operation on your loan. For example, if you nominate 'Either to Operate', only one of you is needed to authorise changes to loan repayments, make a repayment redraw or switch your loan. You must nominate 'Either to Operate' if you'd like electronic access to your loan.

Simply download and complete the application form.

Repayment Redraw

If you've made additional repayments on your loan, this facility allows you to redraw that money. The redraw option is available electronically through selected ATMs, EFTPOS or Australia Post EFTPOB terminals, NetBank and Telephone Banking. To redraw electronically you will need to nominate 'Either to Operate' as the method of operation for your loan. Of course you can also redraw by visiting any Commonwealth Bank branch.

Simply download and complete the application form.

View your home loan transactions

You can now review up to the last 2 years' transactions on your loan account, Mortgage Interest Saver Account and Viridian Line of Credit, online. Simply register for NetBank.

Repayment Holiday

If you have accumulated additional repayments on your home loan, you may be eligible for a Repayment Holiday. This option allows you to suspend your loan repayments for nominated periods from 3 months to 12 months, and offers you flexibility during lifestyle changes such as a career break, pregnancy or parental leave.

Switching home loans

With a Commonwealth Bank Home Loan you may be able to switch your current loan to another type of home loan that is more suited to your current needs, without the need to apply for a new loan. What's more, switching may be as easy as picking up your phone and calling us on 13 2224, 8am to 10pm, 365 days a year. A switching fee and conditions apply. View switching terms and conditions.

Top-up your loan

If you already have a loan with us, you may wish to borrow additional funds through that existing facility. Use the money to take a holiday, buy a new car, renovate your property, or whatever you wish, all at low home loan interest rates. You will also save money on establishment fees, stamp duty and other costs associated with setting up a new loan.

 

Important information

If you have an Investment Home Loan and you redraw to meet private expenditure, part of your future interest costs will become non-deductible for tax purposes. We therefore strongly recommend that you obtain advice from your accountant/tax adviser before redrawing. Redraw is not available on Fixed Rate loans or Interest Only Loans and is dependent on having the required amount available in special repayments. Electronic redraw is only available for sole borrowers or where there are joint borrowers, the method of operation is ‘Either to Operate’. Minimum redraw amount for Complete Home Loan is $500 via electronic channels and $1,000 when the redraw is processed via a branch (a $5 drawing fee applies for redraw processed via a branch). Minimum redraw amount for Economiser Home Loan (including 3 Year Special Economiser) is $500 via electronic channels and $2,000 when the redraw is processed via a branch (a $50 drawing fee applies for redraws processed both electronically and via a branch).

Repayment Holidays are not available on Fixed Rate loans, Interest Only Loans, Viridian Line of Credit, or where there is a second or subsequent mortgage to another financial institution ranking behind the Commonwealth Bank. Applications are subject to the Bank's approval.

General Information and Terms and Conditions for Electronic Banking are available on this website or from any branch of the Commonwealth Bank. Bank fees and Government charges apply. If you have a complaint, the Bank's dispute resolution process can be accessed on 13 2221.