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Commonwealth Bank Viridian Line of Credit

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Unlock your home’s equity through the Viridian Line of Credit from the Commonwealth Bank.

With the Commonwealth Bank Viridian Line of Credit you are able to use your existing home’s value to meet your financial goals. You have the flexibility to withdraw the funds you need and you only have to pay interest on the money you spend.

This loan is suitable for existing homeowners. If you are a first-time home buyer, Commonwealth Bank has home loan packages that can help you finance your first purchase.

Refinance cashback offer

Eligible borrowers switching to the Commonwealth Bank can receive a $2,000 cashback. To qualify, your loan amount needs to be $250,000 or more and you need to apply before 31 October 2020 and have your loan funded by 31 December 2020. The offer is available on owner-occupier, investment and Viridian line of credit loans but not available on bridging loans. Eligibility criteria apply.

Interest Rate Max Insured LVR Max LVR
6.03% p.a.
Comparison Rate
80% 60%
with Wealth Package
5.33% p.a.
Comparison Rate
80% 60%
Product NameCommonwealth Bank Viridian Line of Credit
Interest Rate TypeVariable
Comp Rate^ (p.a.)
Minimum Loan Amount$20,000
Maximum LVR60%
Maximum Insured LVR80%
Mortgage Offset AccountNo
Mortgage 100% OffsetNo
Loan Redraw FacilityYes
Fixed Interest OptionNo
Suitable for InvestmentYes
Available as equity loan/line of creditYes
Repayment TypePrincipal & Interest and Interest Only Options
Application Fee$600
Ongoing Fees$12 monthly ($144 p.a.)
Settlement Fee$200
Discharge Fee$350


  • Redraw Facility.
  • Flexible spending and repayment options.


  • Establishment fee of $600.
  • There is a $12 monthly service fee.
  • There is a $200 settlement fee.
  • A discharge fee of $350 applies when you close this loan.

Things to consider about Commonwealth Bank Viridian Line of Credit

With a line of credit you are able to borrow against the equity built up in your own property. You can take some of this equity as a line of credit and then spend it as you need on purchases, travel or investments.

The terms of repayments for this loan are flexible, allowing you to make monthly interest repayments only or additional repayments towards the principal and interest. You are in control of how the funds are spent and how pay them back.

Features of the Commonwealth Bank Viridian Line of Credit

  • Loan-to-Value Ratio (LVR). You can qualify for up to 60% of the home’s value and not be subject to Lenders Mortgage Insurance (LMI) or low deposit premium (LDP). If you borrow above 60% LVR and one of those additional charges will be applied.
  • Loan terms. There are no limits to the terms of this line of credit. You can continue to use it and pay into it as your circumstances see fit.
  • Repayment frequency. You can make monthly payments on this loan to pay it off.
  • Repayment types. You must meet the minimum interest payments due on your loan each month, but apart from this no principal payments are required. Keep in mind that not paying off the principal of your loan will mean your loan will not get paid off over time.
  • Redraw. You can redraw funds at any time and for any amount, subject to your credit approval.
  • Loan amount. The minimum amount you are allowed for the line of credit is $20,000. The maximum amount is dependent on your finances and available equity in the property.

What fees and charges come with this loan?

  • Application fee. You will be responsible for paying a one-time fee of $600 for preparing the paperwork.
  • Ongoing fee. You will have to pay a $12 monthly service fee.
  • Settlement fee. There will be a $200 charge when the line of credit is settled.
  • Discharge fee. $350 will be charged when you discharge the loan.

How to apply for the Commonwealth Bank Viridian Line of Credit

In order for the Commonwealth Bank to consider you for this line of credit, CBA will first ascertain that you meet certain eligibility criteria:

  • Age. You must be at least 18 years of age to be considered for this product.
  • Secured property. You will need to be an existing homeowner to apply for this line of credit.

You should have the following information readily available before proceeding with a loan application:

  • Driver’s licence. Your driver’s licence or other forms of photo identification will be requested.
  • Employment. To show employment history, supply copies of your last three months’ worth of bank statements.
  • Expenses. A detailed list of all of your monthly living expenses including utilities and other loan repayments.

Related Posts

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26 Responses

  1. Default Gravatar
    johnFebruary 6, 2019

    I want to change my LOC to another provider for a better rate . What costs are involved to cease my CBA LOC and will I have to pay stamp duty on my new LOC?

    • Avatarfinder Customer Care
      JeniFebruary 11, 2019Staff

      Hi John,

      Thank you for getting in touch with finder.

      Kindly contact Commbank directly on this matter to get a more accurate figure if you consider changing providers for a better rate.

      I hope this helps.

      Thank you and have a wonderful day!


  2. Default Gravatar
    BrendaMay 12, 2017

    Can the viridian line of credit be seperated from a joint loan between 2 people?? And how can we process this if it is.

    • Default Gravatar
      ArnoldMay 16, 2017

      Hi Brenda,

      Thanks for your inquiry.

      In any account that is jointly opened and owned, any changes you want to make in it will need both signatures to consent the amendments. So if you have jointly opened the Viridian Line of Credit, you would most likely need your co-maker’s signature in order to make a change. As for your borrowing options, you would just need to speak with the bank to do this for you.

      Hope this information helped.


  3. Default Gravatar
    steveDecember 27, 2016

    I have a viridian account and I would like to increase my viridian account limit from $127 thousand to $400 thousand is this possible.

    • Avatarfinder Customer Care
      MayDecember 27, 2016Staff

      Hi Steve,

      Thanks for your question. Please note that you’ve reached – a financial comparison website and general information service designed to help consumers make better decisions, not actually Commonwealth Bank.

      If you wish to increase your line of credit with your Viridian account, you can directly contact or visit your branch. The bank will further check your current financial circumstance if you’re eligible to increase your limit.


  4. Default Gravatar
    MariaNovember 17, 2016

    I am not separated from my husband. We own our house together and we have a viridian line of credit loan. Either one of us can borrow from the loan and one of us has been doing this too much. From what I can read below it requires both of us to consent to change things so that both our signatures/authority are then required to take out further loans against this credit line. How would I get this to happen if the other party won’t consent to this change? i.e. remaining married and without both signatures, how do I get a hold put on the borrowing immediately (even for a limited timeframe) while we take more time to sort it all out?

    • Avatarfinder Customer Care
      MayNovember 22, 2016Staff

      Hi Maria,

      Thank you for contacting – a financial comparison website and general information service designed to help consumers make better decisions.

      Sorry for the delayed reply. In any account that is jointly opened and owned, any changes you want to make in it will need both signatures to consent the amendments. So if you have jointly opened the Viridian Line of Credit, you would most likely need your husband’s signature in order to make a change. As for your borrowing options, you would just need to speak with the bank to do this for you.


  5. Default Gravatar
    JulieApril 26, 2016

    I am currently separated from my husband. We have a viridian line of credit on a property which is in both our names. My ex- husband has borrowed several times against it without my knowledge or permission. What can I do to be released from this debt ( currently $20 000. ) Should he have sought my consent before borrowing such a large sum?

    • Avatarfinder Customer Care
      BelindaApril 27, 2016Staff

      Hi Julie,

      I’ve sent you an email to follow up with this enquiry.


  6. Default Gravatar
    elsaApril 30, 2015

    “The funds accessed are only to be used for personal purposes, including investments and land purchases. Excluded uses are for business purposes or construction projects.”
    I have a viridian wealth package.
    Does this mean that I cannot build a new house of my choice after selling my current property?

    Can I buy a house and land package?

    • Default Gravatar
      JodieMay 28, 2015

      Hi Elsa,

      Thank you for contacting us.

      We are a financial comparison website and are not able to offer you advice based on your specific needs however according to the information on the CBA website and key fact sheet for this loan the funds can be used for owner occupied or investment housing and or personal invest and land purchases. They do mention that building/construction and off the plan finance is not an included use for the funds.

      I would however contact your lender directly to discuss your personal needs and they will be able to advise more thoroughly.


  7. Default Gravatar
    R.April 15, 2015

    Why are the rates for the Viridian loan higher than the standard viridian loan?

    • Avatarfinder Customer Care
      MarcApril 16, 2015Staff

      Hi R,
      thanks for the question.

      There are currently two rates for the Viridian Line of Credit, 5.80%, which is for the regular loan, and 5.00% which is for the Wealth Package Viridian Line of Credit.

      Package rates are generally cheaper than standard rates, as you bundle your other banking products together and pay an annual fee.

      I hope this helps,

  8. Default Gravatar
    LindsayMarch 6, 2015


    My wife and I have a Viridian Line of Credit which we can both access independently. Is it possible for either my wife or I to independently put a stop or hold on the account so that any withdrawals require the consent of both parties?

    • Avatarfinder Customer Care
      ShirleyMarch 6, 2015Staff

      Hi Lindsay,

      Thanks for your question.

      This is definitely possible and can be organised at your local Commonwealth Bank branch.

      Neither party can do the two to sign option without both consenting in branch – but it can be done in branch so that two signatories are required to withdraw or make changes on the home loan.


  9. Default Gravatar
    janineFebruary 22, 2015

    I have a home loan with the cba which includes a Viridian line of credit, I have just sold my house and purchased another house out right with the sale of my I have to payout the line of credit or can I transfer it against my new property.

    • Avatarfinder Customer Care
      MarcFebruary 23, 2015Staff

      Hi Janine,
      thanks for the question.

      The Viridian Line of Credit has a portability feature, meaning it can be brought to different homes rather than being paid out. The new property will have to have enough equity to cover the loan, and keep in mind that there are extra fees and conditions involved with this, such as a security substitution fee of $300, so be sure to call up and get a quote of fees first.


  10. Default Gravatar
    GeorgeFebruary 9, 2015

    Further to my question below, I understand a Discharge Authority needs to be completed by the Borrowers when finalising full payment of the mortgage. What happens if one of the two people listed as a borrower (the person whose name appears on the title) wants to pay off the outstanding balance and thus close the Veridian Line of Credit, but the other one whose name does not appear on the title, does not want to close it off and will not sign the Discharge document? Neither party is able to draw on the loan without the other’s permission and neither have done so for a number of years.

    • Avatarfinder Customer Care
      ShirleyFebruary 10, 2015Staff

      Hi George,

      As both names are on the loan you still need the two to sign to close the loan.

      You may want to escalate the issue with the Commonwealth Bank directly or speak to your solicitor regarding your legal options.


    • Default Gravatar
      GeorgeFebruary 16, 2015

      Thank you for your reply. In fact my partner has been trying to see her local bank manager for nearly two weeks now, but has been unable to obtain an appointment, hence my ongoing queries via this site. This is despite providing her branch manager with several optional appointment times. Furthermore, she has not ever had any of her almost daily phone calls returned by the bank, by anyone. Last week she left work early to attend the bank personally but was again told the manager was still unavailable, and that no one else could make an appointment or help her.
      My partner received legal advice to confirm her options with the bank, and has another meeting with her solicitor tomorrow (Tuesday). Again, however, no one returned her calls today so she is still none the wiser regarding her rights and the bank’s options.
      She does not wish to lodge a complaint via the CBA internal complaints department, due to the 45 day time frames. I have advised her to contact the Banking Ombudsman, as I too am (quite frankly) appalled at such poor customer service and unprofessional behaviour.
      What do you recommend she does? I am happy to provide you with my mobile phone number.

    • Avatarfinder Customer Care
      ShirleyFebruary 17, 2015Staff

      Hi George,

      Thanks for your question and we’re sorry to hear about your experience with the Commonwealth Bank.

      There are number of steps that the Financial Ombudsman Service (FOS) recommends before you lodge a dispute. This includes contacting your financial services provider first in an attempt to resolve the issue.

      Before the FOS considers your dispute, your financial services provider must be given an opportunity to resolve the dispute with you directly.

      Hope this helps,

Commonwealth Bank Viridian Line of Credit

  • Interest Rate


  • Comparison Rate


  • App Fee / Annual Service Fee

    $600 / $12

  • Max LVR


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