Commonwealth Bank has today announced an increase in its Variable Home Loan interest rates and Viridian Line of Credit products effective Monday 8 May 2017.
– The standard variable rate for owner-occupier home loan customers paying principal and interest will increase 3 basis points to 5.25 per cent per annum.
– The standard variable rate for interest only owner-occupier home loans will increase by 25 basis points to 5.47 per cent per annum.
– The standard variable rate for principal and interest investment home loans will increase by 24 basis points to 5.80 per cent per annum.
– The standard variable rate for interest only investment home loans will increase by 26 basis points to 5.94 per cent per annum. This change is separate and in addition to the announcement on 15 February 2017, when we announced an increase to the Standard Variable Rate for Interest Only Investment loans, which will be increasing to 5.68% from 3 April 2017.
– Viridian Line of Credit rates will increase by 0.26% p.a. to 6.08% per annum for loans with a personal and Investment purpose. This change is separate and in addition to the announcement on 15 February 2017, when we announced an increase to the Viridian Line of Credit Rates, which will be increasing to 5.82% from 3 April 2017.
– The Equity Unlock for Seniors Rate remains unchanged.
Our P&I Standard Variable Rate for Owner Occupiers remains the equal lowest standard variable rate among the major banks.
