ANZ vs Commonwealth Bank

ANZ and Commonwealth Bank are two of the big four banks in Australia. Both banks offer customers a wide range of financial products. So how do they compare?

Below we compare some of the products available from ANZ and CommBank: credit cards, home loans, savings accounts, superannuation, personal loans, home insurance, car insurance and travel insurance.

What products do ANZ and CommBank offer?

Here are some of the main products ANZ and CommBank currently offer for new personal customers:

ANZ	Commonwealth Bank (CommBank)
Bank accounts (transaction accounts, savings accounts & term deposits) Home loans Credit cards Personal loans Travel & international Investments Insurance Superannuation	Bank accounts (transaction accounts, savings accounts & term deposits) Home loans Credit cards Personal loans Buy now, pay later International payments Investments Insurance

ANZ vs CommBank credit cards

ANZ and CommBank both offer a range of credit cards including low rate cards, low fee cards, rewards cards and frequent flyer cards.

If you are considering an ANZ or Commonwealth Bank credit card, you can compare a snapshot of what’s available in our comparison table below. This table is based on a monthly spend of $1,000 and is sorted by the interest rate charged on purchases (lowest to highest).

Compare Credit Cards

ANZ vs Commonwealth Bank Home Loans

ANZ and CommBank offer a range of home loans, including fixed rate and variable home loans. They also offer home loans for different types of borrowers, including those buying a new home, those refinancing and investors.

This table is based on a purchase price of $600,000 for a property located in NSW, for owner occupier borrowers looking for their next home, with a 25-year variable loan term. Please note that this table is formulated based on Principal & Interest repayments, and is sorted by current rate (lowest to highest).*

*Read the Comparison Rate Warning.

Compare Home Loans

ANZ vs CommonBank savings accounts

ANZ and CommBank offer different savings account options, including flexible savings accounts for people who want a flexible way to save and earn interest and bonus savings accounts for people who are regular savers.

If you are considering an ANZ or CommBank savings account, you can compare what’s available in our comparison table below. This table is based on Canstar’s ‘flexible saver’ profile with $1,000 of current savings, located in NSW, and is sorted by total interest rate (lowest to highest).

Compare Savings Accounts

ANZ vs CommBank superannuation

ANZ currently offers superannuation and retirement products, including ANZ Smart Choice Super. CommBank no longer offers superannuation for new customers.

You can compare a snapshot of what’s available in our comparison table below. This table is based on someone aged 30-39 years old, with a current super balance of between $55,000 and $100,000. This table is sorted by star rating (highest to lowest).

Compare Super Funds

ANZ vs CommBank personal loans

ANZ and CommBank offer personal loans that can be used for purposes like buying a car, consolidating debt, home renovations, holidays and weddings. ANZ and CommBank offer variable and fixed rate loans. CommBank also offers secured personal loans.

If you are considering an ANZ or CommBank personal loan, you can compare a snapshot of what’s available in our comparison table below. This table is based on a loan amount of $20,000 for a 3-year loan term for borrowers located in NSW, sorted by Star Rating (highest to lowest) followed by comparison rate (lowest to highest).

Compare Personal Loans

ANZ vs CommBank home insurance

ANZ and CommBank offer building insurance, contents insurance and combined home and contents insurance. ANZ’s home insurance is issued by QBE, while CommBank’s is issued by CommInsure.

If you are considering ANZ or Commonwealth Bank (CommInsure) home insurance, you can compare a snapshot of what’s available in our comparison table below. This table is based on home and contents insurance for under $550,000 of cover for building and contents, for people located in NSW or ACT and aged less than 50 years old. The table is sorted by star rating (highest to lowest).

Compare Home Insurance Policies

ANZ vs CommBank car insurance

ANZ and CommBank both offer comprehensive car insurance; third party property damage, fire and theft car insurance; and third party property damage car insurance. ANZ’s car insurance is issued by QBE, while CommBank’s is issued by CommInsure.

If you are considering ANZ or Commonwealth Bank (CommInsure) car insurance, you can compare a snapshot of what’s available in our comparison table below. This table is based on insurance cover for males aged 30–39 years old who live in NSW, with no extra driver under 25 years old on the policy. The table is sorted by star rating (highest to lowest).

Compare Car Insurance Policies

ANZ vs CommBank travel insurance

ANZ does not currently offer travel insurance for new customers, but does offer credit card travel insurance for selected premium credit card holders through Allianz. ANZ credit card customers need to make eligible purchases, with terms, conditions, limits, exclusions and eligibility criteria applying. CommBank offers both domestic and international travel insurance. Separately, international travel insurance is included with eligible cards. CommBank travel insurance is provided by Zurich.

You can compare a snapshot of what’s available in our comparison table below. This table is based on insurance for a couple aged less than 60 years old, who are travelling to the USA on a 10-day trip. The table is sorted by star rating (highest to lowest).

Compare Travel Insurance Policies

Before applying for any financial product, consider reading the relevant product documents on the ANZ and CommBank websites including the Product Disclosure Statement (PDS) and Target Market Determination (TMD) where relevant.

This content was reviewed by Sub Editor Jacqueline Belesky as part of our fact-checking process.

Written by: Tamika Seeto | Last updated: January 6, 2022