If you’re exploring home loans with the Commonwealth Bank of Australia (CommBank), you’ve probably come across terms like Commbank Wealth Package or Mortgage Advantage Package (MAV).
These home loan packages – designed to help borrowers save on interest and fees by bundling multiple banking products into one annual package fee.
But what do these packages really offer? How do they work? And is there a difference between the Commbank Wealth Package and Commbank MAV Package?
I unpack what these home loan packages include, who they suit, and what to watch out for.
What is the CommBank Wealth Package?
The Commbank Wealth Package is CommBank’s headline home loan package.
For an annual fee (currently around $395), it bundles a home loan with other everyday banking products and offers ongoing benefits, including:
The idea is simple: instead of paying for everything separately, CommBank offers you a suite of benefits for a single annual fee.
Commbank Wealth Package eligibility
Eligibility for a Commbank Wealth Package starts with a minimum loan balance of $150,000 – not typically enough to justify the annual fees.
There are other eligibility requirements around types of borrowers – see a broker or Commbank lending specialist for more information.
Benefits of the Commbank Wealth Package
1. Interest rate discounts
I see the interest rate discounts as the most attractive feature of the Commbank Wealth Package.
These interest rate discounts are tiered: the bigger your loan amount, the bigger the discount. Don’t assume the Commbank Wealth Package standard rates are all you get. I typically see borrowers get bigger discounts than what is advertised – so make sure you ask. Or use a broker to negotiate them for you.
Discounts can apply for both owner-occupiers and investors. Over the life of a loan, these rate reductions can translate to tens of thousands of dollars in savings.
And remember – even if you established your loan a while ago – I explain her how to negotiate a better interest discount.
2. Fee waivers
The Commbank Wealth Package includes:
- No annual fee on eligible credit cards
- Waiver of establishment fees and monthly service fees on the eligible home loan
- No monthly account fee on Everyday Offset accounts
These waived fees quickly add up, especially if you’d already use these products.
3. Multiple offset accounts
A strength of the CommBank Wealth Package is flexibility around how your use multiple offset accounts. You can structure them to suit how you like to see your money – e.g., one for bills, one for savings, one for everyday spending.
Money in these offsets accounts directly offsets interest on the linked eligible home loan.
4. Extra perks
Depending on your needs, you may also get discounts on products like home insurance or landlord insurance.
A recent push by CBA has been for customers to join Commbank Yello. Home loan borrowers who also use Commbank for everyday banking might be eligible for cashback incentives on the Commbank Wealth Package. I write about the Commbank Yello program here.
While these might not be central for everyone, they can be a bonus if you would otherwise pay full price.
What is the Commbank MAV Package?
If you choose to apply for your CommBank home loan through a mortgage broker (instead of going direct to the bank), you might hear about the Mortgage Advantage Package (MAV).
The MAV Package is essentially the broker version of the Commbank Wealth Package – just a different name.
For borrowers, the end result is almost the same: a discounted home loan bundled with fee waivers and extras.
Why does CommBank have two packages?
At first glance, it might seem confusing that CommBank has both the Wealth Package and the MAV Package.
CBA has different names for their home loan package depending on how you are introduced to the bank:
- Commbank Wealth Package: This is the home loan package for customers walking into a branch or applying via the CommBank website.
- Commbank MAV Package: You might get this package when you get a CBA home loan through the mortgage broker channel.
From a borrower’s perspective, the benefits are the same.
Things to watch out for
While both packages can offer value, there are a few things to consider:
1. Annual package fee
The $395 annual fee can be worth it for larger loans — but if your loan is under $400,000, the savings might not outweigh the cost.
Always do the maths: compare the interest and fee savings to the cost of the package. This is why licensed brokers are so valuable.
2. What the discount is applied to
The rate discount is usually off CommBank’s standard variable rate (SVR) or fixed rate — which is often higher than some lenders’ headline rates.
So even after the discount, your packaged rate might not be the absolute lowest on the market. But I sometimes see borrowers choose features of the Commbank Wealth Package over the lowest rate on the market. That’s why it can be worth asking your broker to compare:
- The MAV Package rate
- Basic or “no frills” loans from other lenders
- Non-bank or digital lenders with sharper rates
4. Product complexity
Bundling a credit card, transaction accounts and insurance into one package adds complexity. If you don’t need these products — or forget to cancel them later — you might end up paying for features you don’t really use.
Who does the Commbank Wealth Package suit?
The Commbank Wealth Package or MAV Package can be an excellent option if:
- You have a medium to large loan. I see it typically make sense for loans greater than $400,000
- You’ll keep money in offset accounts to reduce interest
- You like the idea of multiple offset accounts
- You have multiple home loan splits
- You otherwise pay for a credit card or other bank products
- You value the convenience of having all your banking with one provider
If your loan is smaller, or you won’t use the included features, a basic home loan with low fees might be a better option for you.
Final thoughts
The CommBank Wealth Package and the broker-equivalent MAV Package remain popular choices in Australia’s lending landscape — and it’s easy to see why.
They offer real savings through rate discounts and fee waivers, plus flexibility with multiple offset accounts and extra product fee waivers.
But like any financial product, they’re not automatically right for everyone. It pays to:
- Understand what’s included
- Compare against other lenders and loan types
- Think about your own banking habits and what products you will actually use
- Use a Commbank lending specialist or broker to explain your options in detail
If you’re unsure, speaking to a mortgage broker can help — they can explain how the CBA MAV Package stacks up against options at other lenders and do the maths for you.
In the end, the best loan isn’t the one with the flashiest package — it’s the one that fits your needs and helps you save over the long term.
