CBA Wealth Package Fixed 1 Year

The CBA 1-Year Fixed Rate home loan is another product that is available with the Wealth Package option, a program that combines different loans in a package with one annual fee of $350.

This fixed rate loan can be linked with a Streamline transaction account and the CBA credit card via this package. There are no annual fees for either one. You can also save on loan service charges and receive discounted interest rates.

The Wealth Package 1-Year Fixed Rate loan has a one year fixed term that reverts to the CBA standard variable rate.

KEY BENEFITS

Read more about the key benefits below:

Additional Repayment Option

You can pay additional repayments on the loan to pay down the balance in a shorter time frame. You will also free up more funds to pay off the loan.

Interest Only Payments

The “interest only” option that comes with this CBA home loan lets you pay the base interest on the loan for a limited time. You won’t pay on the principal just all of the interest on the monthly payments.

Use of Split Loans

You can use your fixed rate loan to pay part of the total amount borrowed while using another type of loan for the remainder.

Mortgage Offset

You will be able to get a partial offset on the mortgage by using a CBA mortgage interest saver account to use the balance was the means of offsetting the rest of the principal that need paid off.