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Commonwealth Bank Home Loan Interest Rates

A spokesperson for the Commonwealth Bank said the bank would pass on the full rate cut, effective December 12.

On 2 December The Reserve Bank of Australia (RBA) gave an early Christmas present to consumers, by cutting official interest rates by 100 basis points. The Commonwealth Bank was the first lender to announce they would also cut rates, slicing 1% off their home loan rates. Commonwealth Bank's standard variable rate will be 6.74% from 12 December.

NAB also announced it would pass on the full rate cut effective December 12, Bendigo Bank will cut rates by 100 basis points to 6.80%t, and non-bank lender Aussie Home Loans will cut rates by 100 basis points to 6.65%

Other lenders: Westpac said it would cut rates by 80 basis points. ANZ will cut 83 basis points to bring their rate to 6.91 per cent

Home owners with a $250,000 mortgage will save around $200 per month on mortgage repayments from the full rate cut.

The Commonwealth Bank was founded under the Commonwealth Bank Act in 1911 and commenced operations in 1912. The Commonwealth Bank provides a full range of retail banking services including home loans, credit cards, personal loans, transaction accounts, and demand and term deposits.

Commonwealth Bank Home Loan Interest Rates

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