CommBank debuted Australia’s first digital home loan

In the coming months, Unloan plans to expand into new home loans

unloan

CommBank debuted Australia’s first digital home loan. Source: depositphotos.com

CommBank announced that Unloan, Australia’s first digital home loan with a discount that increases every year for up to 30 years has been launched.

Unloan offers owner occupiers one low variable rate, priced at 2.14% p.a. (2.06% pa comparison rate), including a loyalty discount that grows by 0.01% p.a. every year, up to 30 years.

For investors, Unloan also offers one low variable rate of 2.44% p.a. (2.34% p.a. comparison rate) and the same loyalty discount that grows by 0.01% p.a. every year, up to 30 years.

Built on modern technology foundations, Unloan strips away many of the complexities seen in more traditional lending options, with a digital customer experience that allows applications to be completed in as little as 10 minutes.

From now on, Unloan is accepting applications to refinance home loans up to 3 million dollars and up to 80% of the property’s value.

In the coming months, Unloan plans to expand into new home loans, and also enable Open Banking-powered assessments for an even faster application experience.
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We believe home loans should be simple to understand, easy to get, and easier to live with. That’s why we built Unloan – a new kind of home loan designed to pass more value back to customers. We have a low variable rate, an ever-increasing discount, and an easy online application
Daniel Oertli, CEO, Unloan 

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