Get quick access to funds with the Commonwealth Bank Personal Loan, offering competitive rates, flexible terms, and a straightforward application process.
What you need to know about this loan:
- Interest Rates: Starting from 8.50% p.a. for those with excellent credit history.
- Loan Amount: Borrow between $4,000 and $120,000 depending on your needs.
- Fees: $0 establishment fee for a limited time; $15 monthly loan service fee.
- Eligibility: Must be 18+, Australian or New Zealand citizen or permanent resident, and meet minimum income requirements.
Pros
- Competitive Rates: Enjoy lower rates based on your credit history and loan type.
- Fast Approval: Receive a decision in as little as 60 seconds after applying.
- Flexible Repayment: Make extra payments on variable loans without penalties.
- Same-Day Funding: Get your funds on the same day if eligible and approved by 4 pm.
- Wide Range: Choose from secured, unsecured, fixed, or variable rate loans.
Cons
- Monthly Service Fee: A $15 monthly loan service fee applies.
- Early Repayment Fee: An early repayment adjustment may apply for fixed rate loans.
Why Choose Commonwealth Bank for your loan?
Commonwealth Bank offers competitive rates that outshine Westpac, where personal loan rates often start higher.
Compared to NAB, Commonwealth provides same-day funding options, which NAB doesn’t always guarantee.
ANZ’s personal loans may have comparable rates, but Commonwealth’s limited-time fee waiver saves you $250.
Macquarie’s loan offerings don’t always include as many flexible repayment options as Commonwealth Bank’s loans.
While Bendigo Bank offers competitive services, Commonwealth’s widespread branch network and digital services make it more convenient.
Commonwealth Bank Personal Loan: let’s get to know it a little better
How to apply for your Commonwealth Bank Personal Loan
Discover the ease of applying for the Commonwealth Bank Personal Loan. Click the button below to explore the full details and take the next step towards securing your financial goals.