Australia’s “best” bank packaged home loans shown to be more expensive


The latest Canstar Cannex packaged home loan star ratings has listed the Commonwealth Bank of Australia (CBA) as the number one home loan deal in the country with a mortgage rate of 6.04% despite the loan’s huge annual fees of $350.

It has been revealed today that online home loan lender is not only offering a cheaper interest rate than the leading star-rated lenders – but it is doing so without the heavy annual fee or any upfront fees on standard applications.

Managing Director of, Kevin Sherman said: “If families paid the typical $350 packaged loan annual fee into a loan instead, they’d shave almost two years off their loan*! That’s two years less of struggling and stress, and two more of enjoying their very own dream home.”

* based on a loan of $300,000 over the course of 25 years

The Canstar Cannex Media Release has been reproduced below for your perusal:

If you’re in the market for a home loan, real savings can be made by upsizing to a package loan with its free credit card and transaction account included in the deal.

Releasing its latest package banking star ratings, CANSTAR CANNEX compared 57 packages from 29 institutions to award five-star packages to three types of borrowers – home buyers, property investors and the self-employed.

With 9 out of 10 home loans now written by banks and almost 60% of banks’ new loans taken as part of a package, it’s easy to see the bank’s dominance continuing to ramp up.

“Traditionally, non-bank lenders offered the lowest mortgage rate but the unstable funding environment has thrown up an opportunity for banks to steal market share from non-banks by selling more loans with a lower margin,” CANSTAR CANNEX Financial Analyst Frank Lopez said.

“Banks are grabbing this opportunity with both hands and concentrating heavily on package banking as a major component of their new business.”

According to CANSTAR CANNEX data, the Commonwealth Bank now offers the lowest mortgage package rate – 6.04% for a $250k loan.

Packaged banking offers value for money and convenience for those who like to do all their banking with the one institution and save money at the same time.

The major drawcard of a loan package is the home loan itself with its discounted interest rate. This discount applies for the life of the loan, as opposed to an introductory rate which applies only for a certain period.

The package deal is sweetened with the addition of a free transaction account and a free credit card. “This all comes for an annual fee of between $195 and $750, fairly steep but tempered largely by the home loan discount,” Mr Lopez said.

“There’s no doubt the simplicity of paying one annual fee to cover most of your everyday banking needs works for most borrowers. It is wise, however, to do the sums before signing up to ascertain exactly how much better off you would be with a package loan compared to stand-alone banking products.”

More information can been found directly at the Canstar Cannex Website here.

About the author


  1. CBA staff tell me that the 6.04% rate is a one-off special and won’t be available in the market for much longer.

    It’s a pity that Cannex don’t research in depth. There are packages in the market that are more cost efffective than the standard CBa plans. The article doea not give a fair overview of the permanent market packages.

  2. I believe that Graeme Kluck (23 Jan 2009) Has been given the incorrect information. The product that Cannex is referring to is the Standard Variable Rate Home Loan with the MAV package. The MAV package entitles the client to .7% discount off the standard variable rate on loans over $250000 which is currently 6.74%. There has been no indication that the CBA is considering pulling this product and, this has been the same product that they have been offering for over 15 years.

  3. OK I am a regional broker , many of our client don’t reach the 250000 package minimum.

    I could not recommend the CBA in any form,Cannex,brokers and any one else writing home loan should be forced to go into a bank and complete an over the counter transaction, as clients taking a package deal at some stage will have to do ,you would never recommend a clientto bank with the CBA once you had done this. It is not just tbe rate that equals value , it is everything about that bank or non Bank that counts. That is where so called “awards” are simply wrong.

  4. Kylie McCue: CBA offering 0.7% MAV package discount off SVR for $250K loans for 15 years???????

    Not in the universe I’m living in.

    They only started offering this sort of pricing since earlier this decade, once mortgage managers, non banks and brokers alike forced them to discount pricing. Events of late have significantly reduced the competition. Much of the remaining competition has been bought out.

    Ask yourself, what’s one of the remaining main driver of competition in the home loan market? Brokers. What are the big players attempting to do to the broking industry at present? Wipe it out with unreasonable commission cuts and condition changes. Aggregators need to draw a line in the sand and move against any lender who makes any further opportunistic commission cuts against modestly compensated brokers. Brokers are not greedy fat cats making a killing. We offer a great service to customers and force healthy competition amongst lenders all for very modest salaries.

  5. The major challenges I’ve with abx therapy with strep are: one. Docs often give without the need of culturing two. Abx are held hostage by docs wanting to make a buck. My family members does not have insurance, so when we’ve sore throats
    with low to no grade fever, we just have to hold out it out.

    I can not afford $120 for each relatives member to be analyzed.
    There need to be OTC tests and afterwards, meds could be released.
    I are unable to tell you how a lot of times now we have been inside of a doc office for about
    10 min examination and then left that has a $300 bill for three
    persons. It can be outrageous.

  6. you’re really a excellent webmaster. The site loading velocity is incredible. It kind of feels that you’re doing any unique trick.
    Furthermore, The contents are masterpiece. you’ve done a magnificent job in this matter!

  7. @ Jenni: I’ve listened to concerns about some from the quality from the JC shoes. in particular the Ninenty Nine style ( base=utm_source=google+base&mr:trackingCode=4D56017D-11EC-DE11-974B-0019B9C043EB&mr:referralID=NA). I had been particularly shocked to hear that, one. some of your leather around the styles is vegan 2. that’s not explicitly stated on most sites and 3.
    there were quality concerns on this and other styles.

  8. Posinak duhovit ždrijebe vrlo slu?ajno ?uti vidjeti.
    Sami sanjanje džamije bit razdragano.Sanjarica golubica
    zgrabiti tu sanovnik brada. Obitelj brzo smjenjivati sretno odijevate po.
    Svaki sanovnik vencanica crvena životu pažljivo.
    Sanovnik tumacenje snovi bor dovele sanovnik hleba.

  9. Loans for a bad credit score people would be the best collection of the
    salaried people of UK. He provide useful advice through
    his articles on quick loans same day ,Loans For Bad Credit and 12
    Month Payday Loans.

  10. I do not learn about this…. strep can be a bacteria…. I am basically uncooked, at this point, and i nearly never ever get sick with a viral
    infection but have experienced strep thrice (may be the same strain)
    during the past three yrs…..

  11. I’ve been surfing on-line greater than three hours nowadays, but I by no means uncovered any fascinating report like yours. It is fairly worth sufficient for me. In my view, if all web-site homeowners and bloggers built excellent content when you likely did, the world-wide-web will be much more useful than at any time just before.

  12. Hi Clare! Many thanks to your site posts, entertaining and valuable!
    have about 4 people a year myself so hear certainly
    are a couple of ideas to maintain them entertained:
    – picnic at safa park,
    – Meal within the burj park, subsequent to souq al bahar (fairly the not known!
    – cooking lessons artwork john the grocer
    – previous dubai: searching in Karama, stopover at ravi in satwa for spicy grilled hen, abra to go from bur dubau to deira!

    – Grilled fish at bu qtair on jumeirah beach road.
    – Excellent outdoor: rent an auto and pay a visit to the hatta swimming pools!

    Have Enjoyment!

  13. Hello there! Would you mind if I share your blog with
    my twitter group? There’s a lot of people that I think would really appreciate your content. Please let me know. Cheers

  14. Palmer Alaska celebrated its initial Money MOB last night,
    gathering at a locally owned and operated bar and burgers spot for an excellent evening of fun!
    Door prize tickets indicate 117 individuals participated
    The occasion was advertised for two weeks and got fantastic neighborhood information paper coverage.
    Apparently the total factor experienced individuals talking
    simply because overnight (soon after the event) the variety of face book “likes” went from 107 to 188.
    It truly is a small city so this can be a fantastic way to
    gather and have some fun.

  15. I truly appreciate this post. I have been looking
    everywhere for this! Thank goodness I found
    it on Bing. You have made my day! Thank you again!

    Nice read, I just passed this onto a colleague who was doing a little research on that.
    And he actually bought me lunch because I found it for him smile Thus let me rephrase that:
    Thank you for lunch! “Never let inexperience get in the way of ambition.” by
    Terry Josephson.

    Good write-up, I am regular visitor of one’s blog, maintain up the excellent operate,
    and It’s going to be a regular visitor for a lengthy time.

    Really nice design and style and superb content , absolutely nothing else we
    want : D.

    Keep up the superb work , I read few posts on this
    web site and I believe that your web site is very interesting and has circles of good information.

    Some genuinely wonderful info , Gladiola I discovered this.
    “The distance between insanity and genius is measured only by success.” by James Bond Tomorrow Never Dies.

    I have been browsing online greater than 3 hours these days, yet I never found any attention-grabbing article like yours.
    It’s beautiful value sufficient for me. In my view, if all web owners and
    bloggers made just right content as you did, the web shall be much more useful
    than ever before. “Truth is not determined by majority vote.” by Doug

    I do agree with all of the concepts you’ve offered on your post.
    They’re really convincing and can certainly work.
    Nonetheless, the posts are very short for starters. Could you please extend them a bit from subsequent time?

    Thank you for the post.

    You can definitely see your expertise in the work
    you write. The world hopes for more passionate
    writers like you who are not afraid to say
    how they believe. Always follow your heart. “History is the version of past events that people have decided to agree upon.” by Napoleon.

    I will immediately seize your rss feed as I can’t to find your e-mail subscription link or e-newsletter service.
    Do you have any? Please permit me understand in order that
    I may just subscribe. Thanks.

    Someone necessarily help to make significantly posts I might state.
    This is the first time I frequented your web page and up to now?
    I amazed with the research you made to make this particular post amazing.
    Excellent task!

    Magnificent site. Plenty of useful info here. I am sending it to
    some pals ans additionally sharing in delicious. And of course, thank you for your effort!

    hello!,I really like your writing very much!
    proportion we keep in touch extra about your post on AOL?

    I require an expert in this house to resolve my problem.
    May be that’s you! Looking ahead to see you.

    F*ckin’ amazing issues here. I am very happy to look your post.
    Thanks a lot and i’m having a look forward to touch you.

    Will you kindly drop me a mail?

    I just could not leave your web site before suggesting that I extremely enjoyed the standard info a person provide for
    your visitors? Is going to be back frequently in order to check out
    new posts.

    you are truly a good webmaster. The site loading speed is amazing.
    It sort of feels that you’re doing any unique trick.
    In addition, The contents are masterpiece.

    you have performed a great task in this matter!

    Thanks, I’ve just been looking for info approximately this subject for
    a long time and yours is the greatest I have
    found out till now. But, what about the bottom line?

    Are you positive concerning the source?

    What i don’t understood is in truth how you are not actually much more smartly-appreciated than you might be now.
    You are so intelligent. You know therefore significantly relating to this topic, produced me individually
    imagine it from so many numerous angles. Its like women and men don’t seem
    to be interested unless it’s one thing to do with Girl gaga!
    Your personal stuffs excellent. All the time maintain it up!

    Usually I don’t learn post on blogs, but I wish to
    say that this write-up very compelled me to try and do so!
    Your writing style has been surprised me. Thank you,
    very nice post.

    Hello my family member! I wish to say that this post is awesome, nice written
    and come with approximately all significant infos.

    I would like to look extra posts like this.

    obviously like your web site but you need to take a look at the spelling on quite a
    few of your posts. Several of them are rife with spelling problems
    and I find it very bothersome to inform the reality on the other hand I’ll definitely come again again.

    Hello, Neat post. There is a problem together with your web site
    in internet explorer, would test this… IE still is the market chief and a large part of folks will miss your wonderful writing due to this problem.

    I have read several excellent stuff here. Definitely price bookmarking for revisiting.
    I wonder how a lot attempt you place to make this sort of magnificent informative website.

    Hello very nice blog!! Man .. Beautiful ..
    Amazing .. I’ll bookmark your web site and take
    the feeds additionally…I’m glad to seek out numerous helpful information right here in the
    put up, we’d like work out more techniques in this regard,
    thank you for sharing.

    It is actually a great and helpful piece of info. I am happy that you shared this
    helpful information with us. Please keep us up to date like this.
    Thank you for sharing.

    fantastic points altogether, you just gained a new reader.
    What might you suggest in regards to your submit that you simply made some days in the past?

    Any certain?

    Wow! This could be one particular of the most helpful blogs We have ever arrive across on this subject.
    Basically Magnificent. I’m also an expert in this topic therefore I can
    understand your hard work.

    Good – I should definitely pronounce, impressed with your website.
    I had no trouble navigating through all the tabs and related info
    ended up being truly easy to do to access. I recently found what I hoped for
    before you know it in the least. Quite unusual.

    Is likely to appreciate it for those who add forums or anything, web site theme .
    a tones way for your customer to communicate.
    Excellent task.

    Thank you for the sensible critique. Me & my neighbor were
    just preparing to do a little research about this.
    We got a grab a book from our area library but I think I
    learned more clear from this post. I’m very glad to see such great
    information being shared freely out there.

    I have not checked in here for a while since I thought it was
    getting boring, but the last few posts are great quality so I guess
    I will add you back to my everyday bloglist.
    You deserve it friend 🙂

    I have been absent for a while, but now I remember why I used
    to love this web site. Thanks, I’ll try and check back more frequently.
    How frequently you update your website?

    Hey, you used to write excellent, but the last several posts have been kinda boring… I
    miss your super writings. Past few posts are just
    a little out of track! come on!

    I like what you guys are up too. Such clever work and reporting!
    Carry on the excellent works guys I’ve incorporated you guys to my blogroll.
    I think it’ll improve the value of my website :).

    Thanks for sharing excellent informations. Your site
    is very cool. I am impressed by the details that you’ve
    on this blog. It reveals how nicely you understand this subject.
    Bookmarked this web page, will come back
    for extra articles. You, my friend, ROCK! I found just the information I already searched all over the place and just couldn’t come across.
    What a perfect website.

    I’ve recently started a website, the information you offer on this website
    has helped me greatly. Thank you for all of your time & work.
    “Quit worrying about your health. It’ll go away.” by Robert Orben.

    I truly appreciate this post. I’ve been looking everywhere for this!

    Thank goodness I found it on Bing. You have made my day! Thx again!

    I gotta favorite this site it seems very useful handy

    Just wanna input that you have a very nice web site , I love the pattern
    it actually stands out.

    I got what you mean , thanks for posting .Woh I
    am pleased to find this website through google.
    “Since the Exodus, freedom has always spoken with a Hebrew accent.” by Heinrich Heine.

    You have brought up a very great details , thanks for the post.

    Only wanna state that this is invaluable , Thanks for taking
    your time to write this.

    I conceive you have observed some very interesting
    points , thankyou for the post.

    Enjoyed studying this, very good stuff, appreciate
    it. “Hereafter, in a better world than this, I shall desire more love and knowledge of you.” by William Shakespeare.

    I dugg some of you post as I thought they were very beneficial invaluable

    As soon as I observed this web site I went on reddit to share some of the
    love with them.

    Some genuinely choice content on this site, saved to fav.

    I really enjoy looking through on this site, it has got good posts .
    “He who sees the truth, let him proclaim it, without asking who is for it or who is against it.” by Henry George.

    Perfectly pent subject matter, appreciate it for

    But a smiling visitor here to share the love (:, btw
    outstanding style and design .

    You are my intake , I have few web logs and occasionally run out from to

    I think this internet site contains some real excellent info for everyone.
    “To be able to be caught up into the world of thought — that is being educated.” by Edith Hamilton.

    Appreciate it for helping out, great info .

    I really like your writing style, fantastic info ,
    appreciate it for posting : D.

    Some truly good content on this website , appreciate it for contribution.

    But wanna input on few general things, The website layout is perfect, the articles is really fantastic :

    I like this post, enjoyed this one appreciate it for posting .

    Its excellent as your other articles : D, appreciate it for putting up.
    “There’s no Walter Cronkite to give you the final word each evening.” by William Weld.

    I regard something truly interesting about your website so I saved to fav.

    Very interesting topic, regards for putting up.

    You have remarked very interesting points! ps decent
    web site.

    Very interesting info!Perfect just what I was searching for!

    I was examining some of your articles on this site and I conceive this internet site is real informative!
    Keep posting.


Please enter your comment!
Please enter your name here