Eligibility Requirements
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Must be over 18 years old
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Live and work in Australia
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Be an Australian or New Zealand citizen, permanent resident, or hold an eligible visa
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Must be employed or have regular income
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Good credit rating required
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Not currently in bankruptcy proceedings
CommBank Fixed Rate Personal Loan Application Steps
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Apply: Complete the online form with your details (response in 60 seconds).
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Contract: Review and accept your digital loan contract if approved.
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Verify: Provide proof of ID, income, or other documents if requested.
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Receive funds: Eligible customers can access same-day funding.
Frequently Asked Questions
How long does it take to get approved for a CommBank loan?
Approval can be as fast as 60 seconds, with same-day funding available if you complete verification by 4pm.
Is it required to explain why credit is being used?
No, but providing accurate information about your financial situation helps in faster approval.
Do I need to have a good credit score to be approved for CommBank?
Yes. A good credit history increases your chances of securing the best available rates.
Can I apply for a loan if I am self-employed?
Yes. Self-employed applicants are welcome but may need to provide extra documentation on income and business activity.