Reductions for borrowers
- Owner Occupied Principal and Interest Standard Variable Rate home loan reduced by 0.19% per annum (p.a.) to a new record low rate of 4.93% p.a.
- Investor Principal and Interest Standard Variable Rate home loans reduced by 0.19% p.a. to 5.51% p.a.
- Owner Occupied Interest Only Standard Variable Rate home loans reduced by 0.25% p.a. to 5.42% p.a.
- Investor Interest Only Standard Variable Rate home loans reduced by 0.25% p.a. to 5.89% p.a.
Offer for savers
- A special 5 month term deposit rate introduced at 2.20% p.a., a 0.20% increase
- Existing CBA pensioner customers will also be eligible for an additional 0.10% p.a. bonus on this special 5 month term deposit, taking the rate to 2.30% p.a. This bonus is available only in branch.
Commonwealth Bank has responded to the Reserve Bank of Australia’s (RBA) cash rate decision by reducing interest rates for home owners and making a deliberate choice to limit the interest rate reduction on the most popular savings account. CBA is also introducing a special term deposit offer.
Source: CBA