CBA Wealth Package Viridian Line of Credit

The CBA Viridian Line of Credit is a form of loan that allows the borrower to use the equity from their home loan to make renovations, pay bills, or finance a new business venture among other things.

It also offers some quality options to help you manage your financial accounts more effectively. Plus, you can use it to consolidate all of your debt and pay for it with you equity.

The inclusion of the Wealth Package add on provides the Viridian Line of Credit with some more benefits for borrowers to use including lower interest rates, elimination of annual fees for benefits like CBA credit cards and Streamline transaction accounts. You will not owe loan services charges on your account.

KEY BENEFITS

Look over the following benefits of this line of credit carefully:

Extra Payments

You can pay extra on your mortgage so you can get it paid off sooner and still free up more money that can be used elsewhere.

Interest Only

This option allows you to pay interest only on the payments for your Commonwealth Bank mortgage during a certain time. You won’t be paying principal at all during the no-interest payment period.

The Redraw

This option allows the borrower to remove the equity from your loan account so it can be used. However, it can only be accessed when you’ve paid extra payments above the regular payments.

Loan Increases

If you want to renovate your home, need to consolidate your debts, or you have to come up with extra money, you will be able to increase the amount of your current loan accordingly.