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CommBank (CBA) Home Loan Calculator

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Estimate your monthly CommBank (CBA) home loan payment at current rates. Free, no signup.

fin·calc is an independent, unaffiliated calculator — not endorsed by, sponsored by, or affiliated with CommBank (CBA). "CommBank (CBA)" is used only to describe typical rates and terms; confirm actual terms directly with the bank.

$
%
yrs
Your monthly payment$3,597
Principal$600,000
Total interest$695,029
Total$1,295,029
Calculated live on this page. Open the full tool →

CBA Standard Variable Rate, by deposit size (as of 15 May 2026)

Loan-to-value ratioOwner-occupier P&I rate
Up to 60% LVR (40%+ deposit)6.34% p.a.
60.01%–80% LVR6.44%–6.59% p.a. (Wealth Package tiers)
90.01%–95% LVR (5–10% deposit)7.74% p.a.

CBA lifted Standard Variable Rate pricing by 0.25 percentage points effective 15 May 2026. The RBA cash rate target is 4.60% p.a. after the late-September 2026 rise (previously 4.35%, held 11 August 2026) — CBA's own rate moves are separate decisions, not automatic passes of RBA changes.

Worked example

Example: A$600,000 CommBank home loan at 6.44% for 30 years (illustrative — use the calculator above for your own figures).

CommBank's home loan product range

CommBank sells three main home loan products rather than one standard rate, and the differences change what a borrower actually pays. The Digi Home Loan is a digital-only variable-rate loan with a $300,000 minimum, unlimited additional repayments, redraw and one Everyday Offset account, aimed at simpler applications processed without a branch visit. The Standard Variable Rate loan allows up to 99 Everyday Offset accounts and is the gateway to Wealth Package pricing discounts for larger loans. The Simple Home Loan sits in between, with up to two offset accounts, unlimited additional repayments and redraws, and the option to switch to interest-only. Across these products, CBA advertises a discount of at least 0.10 percentage points off the advertised rate for eligible online applications of $150,000 or more. CBA also lists fixed-rate, investment, construction and bridging loan options separately.

Worked example: $500,000 CBA loan at 6.49% p.a. over 30 years

r = 0.0649/12 = 0.0054083, n = 360, (1+r)n ≈ 6.9710.

M ≈ $3,157.05 per month. Total repayments ≈ $1,136,538; interest ≈ $636,538.

First home buyers: the Australian Government 5% Deposit Scheme

Commonwealth Bank is listed by Housing Australia as a Participating Lender for the Australian Government 5% Deposit Scheme (the successor to the First Home Guarantee), alongside NAB, ANZ, Westpac and dozens of smaller lenders. Through a participating lender, an eligible first home buyer can borrow with as little as a 5% deposit without paying Lenders Mortgage Insurance — Housing Australia guarantees the gap up to 15% of the property's value. CBA's own guide to the scheme (dated 1 October 2025) sets out eligibility along the same lines as the government's rules: the applicant must be an Australian citizen or permanent resident, buying as an owner-occupier, and either a genuine first home buyer or someone who hasn't owned property in the past 10 years; property price caps apply and vary by state and region (for example, up to $1,500,000 in some NSW capital-city and regional centre areas). Because the scheme runs on a limited allocation of places issued through participating lenders, availability and the exact price caps for your area should be confirmed directly with CBA or on the government's firsthomebuyers.gov.au site before you apply.

Lenders Mortgage Insurance (LMI) at CBA

CBA requires LMI "if your Loan-to-Value Ratio (LVR) is above 80%, meaning you have a deposit of less than 20%," and can also require it on higher-risk loans such as some refinances, restructures and top-ups even below that threshold. Where it applies, the premium is calculated on your LVR and loan size and is typically capitalised into the loan rather than paid as a separate upfront cost. CBA also runs a professional LMI waiver: as of its July 2025 update, eligible pharmacists, medical professionals (including interns and doctors under supervision), banking professionals and members of the judiciary can borrow above 80% LVR (up to CBA's normal waiver limits) without paying LMI, subject to case-by-case assessment; this built on an earlier waiver already extended to nurses, police, paramedics and firefighters. If you don't fit a waiver category, a bigger deposit or the 5% Deposit Scheme above are the two ways to avoid the premium.

Financial hardship and AFCA

If you're struggling to meet CBA home loan repayments, CBA encourages contacting it early — through the CommBank app, on 13 30 95 (8am–9pm Mon–Fri, 9am–2pm Sat), online, or by writing to PO Box 790, Parramatta NSW 2124 — before missing a payment. CBA assesses each situation individually and may ask about income and expenses; assistance can include payment deferrals or reductions for a set period, extending the loan term to lower repayments, switching temporarily to interest-only, waiving fees, or an interest rate concession. A short-term hardship arrangement does not itself damage your credit score, though the arrangement is noted on your credit report each month it's in place and stays visible for 12 months afterwards. If CBA declines your hardship request without a reasonable explanation, doesn't respond, or keeps pursuing recovery action while a hardship request is on foot, you can escalate — after first raising a complaint with CBA — to the Australian Financial Complaints Authority (AFCA) on 1800 931 678, a free, independent external dispute resolution service; AFCA assigns a hardship case worker, refers the matter back to the lender, and can convene a conciliation conference or issue a binding decision.

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Written by Sheryar, founder of fin·calc. Rates verified against the sources below.

Sources

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