CBA 3 Year Special Economiser

The CBA 3-Year Special Rate Economiser home loan has been discounted from the Standard Variable Rate. It comes with a full three-year introductory interest rate that even lower. Once the initial term expires, the loan would revert to the Economiser variable rate for the remainder of the loan’s payment term.

The Economiser home loan is still considered a basic variable rate loan, but the lower than standard rate available via CBA. The lower interest rate doesn’t mean you will have to do with few features than other loans available through the CBA at the Standard Variable Rate. The 3-Year Special Economiser home loan has plenty of options.

There will be a regular service fee totaling $8 required each month.

KEY BENEFITS

Look at some of the key benefits below:

Extra Repayments

If you want to pay your loan off at a faster rate, the extra repayment option allows you to pay extra payments each month so you will have more cash available.

Interest Only Payments

This means you can pay “interest only” on your loan without paying any principal for a specific time period.

Take A Repayment Holiday

A repayment holiday is useful if you have paid ahead on your monthly installments. It means you can stop paying on the loan anywhere from 3 months to a year.

Using Redraw Facility

Should you need cash for a trip or some unforeseen cost, you can use the redraw to get the needed funds from your home loan, provided you’ve paid ahead on the monthly payments.

Six Month Pre-Approval

You can get approval “in principal” six months so you have plenty of time to look for the right house.