CBA 12 Month Discounted Variable Rate

The CBA 12 Month Discounted Variable rate home loan is one of the company’s discounted variable rate loans. It is an affordable option for new clients who may save some money up front. This variable rate will revert to the standard variable rate following the end of the one-year term.

This discounted variable rate will be subject to the normal rises and falls associated with the market’s interest rates. This type of rate is easily contrasted with the fixed introductory rate which remains the same during the initial period.

CBA offers other options for a first time home buyers. You can choose discounted introductory rates in both the 12 Month Discounted Variable Rate or the 1 Year Guaranteed which is fixed for the first twelve months of the loan.

KEY BENEFITS

Check out some of the following benefits of this loan:

Additional Repayments

You have the option of paying up an unlimited number of extra payments during the loan’s variable rate term and to a maximum of $20,000 during the fixed rate period.

Interest Only Option

You will only have to pay the interest during a set timeframe so you are not repaying the principal each month.

Repayment Holidays

If you are ahead on your monthly payments you can use a repayment holiday to suspend payments from three months to twelve.

Redraw Facility

If you need money for unexpected bills or a trip, you can use the redraw option to get the extra money as long as you have paid ahead on your monthly payments.

The Split Loan

When splitting a loan you are partitioning the loan payments using different loans for the same property.