Commonwealth Bank of Australia (CommBank) is one of the “Big Four” banks, serving over 15 million customers worldwide and recognized for its digital innovation by Canstar and the Australian Financial Review.
What you need to know about this loan
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Loan Amounts Offered: AUD $4,000 – $50,000
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Loan Terms (monthly): 1 – 7 years
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Payment methods: Weekly, fortnightly, or monthly repayments
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Interest rate: Fixed rate from 7.00% p.a. – 22.00% p.a. (Representative rate: 16.00% p.a. | Comparison rate: 17.32% p.a.)
Pros
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Fixed interest rate – enjoy repayment certainty over the entire loan term.
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Same-day funding – access your funds on the same day (if eligible).
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No security required – unsecured loan, no need to pledge assets.
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Flexible repayments – choose weekly, fortnightly, or monthly schedules.
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Eco-friendly discount – lower rates for energy-efficient purchases.
Cons
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No redraw facility – you cannot access extra repayments once made.
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Early repayment fees – fees may apply if you repay the loan early.
Why Choose CommBank for Your Loan?
Westpac offers loans from $4,000 to $50,000, but its fixed rates start slightly higher, making CommBank more attractive for budget-conscious borrowers.
ANZ provides flexible repayment terms, but approval times are slower compared to CommBank’s 60-second online response.
NAB’s unsecured loans are competitive, yet CommBank stands out with same-day funding, giving you faster access to cash.
Latitude allows redraws, but CommBank’s fixed rate certainty ensures peace of mind against rising interest rates.
HSBC offers global access, but CommBank’s local reputation and awards make it a safer and more trusted choice in Australia.
How to apply for your CommBank Fixed Rate Personal Loan
Applying is quick and simple. You can complete the online application in about 15 minutes, receive a response in as little as 60 seconds, and get your funds the same day if approved. Take the next step toward financial stability with confidence.