interest rates term deposit commonwealth bank

During an interest only period, your interest only payments won't reduce your loan balance. We have different rates that apply, depending on whether you are making interest only payments or principal and interest repayments. Any of these additional amounts will increase repayments under the loan. This is a one-off cost and will be added to the loan amount. Lenders' Mortgage Insurance or a Low Deposit Premium may apply to your loan depending on the size of your deposit security, applicant and loan attributes. The calculations do not take into account fees, charges or other amounts that may be charged to your loan (such as establishment or monthly service fees or stamp duty). Interest rates referenced are current rates and may change at any time.įees and charges are payable. They assume interest rates don’t change over the life of the loan and are calculated on the rate that applies for the initial period of the loan. Information provided (including interest rates) are subject to change.Ĭalculations are estimates provided as a guide only. At the end of an Interest Only period, your repayments will increase to cover Principal and Interest components. During an Interest Only period, your Interest Only payments won't reduce your loan balance unless you choose to make additional repayments. We have different rates that apply, depending on whether you are making Interest Only payments or Principal and Interest repayments.

The maximum Interest Only payment period over the life of a loan is 10 years for Investment Home Loans and 5 years for Owner Occupied Home Loans, so long as there is at least 5 years remaining on the Contracted Loan Term. Only monthly payments are available for Interest Only. # You can choose to pay Principal and Interest weekly, fortnightly, or monthly. The current reference rates can be found here.ģ At the end of the fixed rate period, the interest rate converts to the applicable Standard Variable Rate relevant to your loan purpose and repayment type at that time, less any applicable package discount specified in your Loan Contract. See rates for products no longer offered (PDF)Ģ Rate/s apply to new lending only and may include a margin below or above the applicable reference rate. Talk to your lender for more information.

The reference rate applicable for an Interest Only period applied in years and/or months will be the same as the Interest Only reference rate applicable to your loan type. Interest Only period switches and extensions can be requested in both years and/or months via selected processes. The reference rate for your loan will depend on the repayment type you select – Principal and Interest or Interest Only. Please refer to our Home Loan Fact Sheets for details regarding our loans.

Interest rates term deposit commonwealth bank