CBA offers NBN discount to mortgage customers

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CBA offers NBN discount to mortgage customers

Investment in More bearing fruit.

Nearly a year after it took a 25 percent stake in broadband retailer More, the Commonwealth Bank is using NBN services as a sweetener to lure customers.

CBA will offer pre-approved home loan customers three years of free NBN services, which it said in a statement could save eligible customers more than $2700.

Existing customers are offered 30 percent off More NBN plans for a year, if they sign up using debit or credit cards to pay.

CBA says its research showed one-third of customers expecting interest rate rises will be on the lookout for cheap utility and service offers to offset higher mortgage payments.

More co-founder Andrew Branson said the offer will also mean customers can take possession of their property with the NBN already connected. 

As well as taking a stake in More, CBA last July bought 25 percent of Tangerine, with a view to using the brands to deliver personalised broadband offers through its CommBank app.

Its foray into broadband retailing followed earlier investments in e-commerce startup Little Birdie, electricity retailer Amber, and others.

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