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CBA drops exit fees

Commonwealth Bank will drop its exit fees on new home loans from April 4 - about three months before the regulatory removal of these fees across the market. Mozo, a comparison website, reported on the CBA move on Monday. CBA advised third-party originators and retail bank staff in recent days. Break fees on CBA home loans are typically $700 and are at the low end of the range in the home loan market. ANZ and National Australia Bank have already removed their break fees.

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