PaymentsAustralia
CBA Launches Competitive Digital-Only Home Loan Rate
Commonwealth Bank announced a competitive digital-only home loan rate on 3 June. According to RateCity.com.au, CBA's moved from $2,000 sign-up cashback "that ultimately created customer churn, to a self-serve model which includes a lower advertised rate and an ongoing cashback perk". The loan's $10 a month fee can be refunded through CBA’s rewards program Yello. The offer is "a sign of CBA’s attempt to corner the “digital arms race,” in a show of force against rivals like ANZ, Bendigo and Macquarie". -