CBA Wealth Package Fixed 5 Years

The 5-Year Fixed Rate home loan is also offered with a CBA Wealth Package add-on option. This means you can make use of the same great benefits offered by these robust fixed rate loans while also making use of the comprehensive Wealth Package as well.

This package combines a whole of savings and good financial products that share a single $350 annual fee. Features like discount interest rates, no annual fees, and now service charges added to the appeal of the CBA Wealth Package.

The 5-Year fixed rate loan with its introductory fixed rate of five years will be adjusted back to the standard variable rate once the term is over.

KEY BENEFITS

Here are some standard benefits for the 5-Year Fixed Rate Home Loan.

Extra Payments Available

This allows you to pay more on your loan so you get ahead and start seeing extra money. The catch is that you can only pay extra up to $10,000 a year without paying penalties.

Split Loans Optional

You can take two different loans on the same property while paying a single annual rate by using the split loan option. It works by splitting the loan’s payments in half between to different types of loans.

Interest Only Payments

An interest only payment is what it sounds like. It is a loan option whereby you can pay the total interest owed on your mortgage payments every month for a certain amount of time.

The Mortgage Offset

You can use a mortgage offset feature to help pay down the costs associated with your home loan. It works by tapping into your savings account balance to pay on the remaining principal.