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A fixed rate loan from the Commonwealth Bank lets buyers and investors set their repayments in place for a certain period of time. This means that you won't be surprised by your repayments suddenly going up.
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Review by
Richard Whitten is a senior writer at Finder covering home loans and property. He helps everyone understand the ins and outs of mortgages so they can make smarter property decisions. He has written for Yahoo Finance, Money Magazine, Homely, and for multiple banks and lenders. Richard trained as a high school teacher but found it easier to manage personal finances than a classroom full of kids. Before joining Finder, he edited textbooks and taught English in South Korea. Richard has a Bachelor of Education, a Graduate Certificate in Communication and is currently studying a Certificate IV in Finance and Mortgage Broking.
This loan is available to those wishing to buy a home and investors purchasing an investment property. This is a fixed rate loan. At the end of the fixed period the interest rate will revert to the Commonwealth Bank's Standard Variable Rate loan.
The Commonwealth Bank Fixed Rate Loan has several fees you should be aware of.