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A year after acquiring a 25% stake in broadband retailer More, the Commonwealth Bank is leveraging NBN to attract customers, offering eligible conditionally pre-approved home loans with access to a free NBN plan for three years, claiming homeowners can save up to $2,700.
In a statement, Commonwealth Bank (CBA) is also offering all of its existing customers 30% off More NBN plans for the first 12 months when they sign up using their CBA credit or debit card as their bill payment method.
CBA’s timing couldn’t be timelier as the bank’s recent research revealed majority of homeowners were preparing for an interest rate prior to the Reserve Bank’s decision to increase the cash rate in May.
Australians with a home loan (33%) were also looking for cheaper providers for utilities/services to help prepare for rate increases.
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“Enjoying free internet for three years and having an extra $2,700 in your back pocket is an unbelievable offer for homeowners and property investors, as you don’t need to connect the NBN at the address where the loan is settled,” comments More co-founder Andrew Branson.
“This type of customer benefit has never been seen before and hats off to CBA for trying something new that will make a meaningful difference to their customers who are facing rising cost of living pressures. This isn’t a special offer that runs out after six months, this is a full three years of ongoing benefit,” he says.
Another research by CBA last month found that Australians do little or no research at all when choosing an Internet provider, which may mean they miss out on deals and discounts and the chance to save money on everyday bills.
This first appeared in the subscription newsletter CommsWire on 7 June 2022.
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