Commonwealth Bank Fixed Rate Personal Loan

Buy a new car or pay for your next holiday with a Commonwealth Bank Fixed Rate Personal Loan.

Commonwealth Bank offers Fixed Rate Personal Loans with a fast approval process quick access to funds. This loan can be used for a variety of purposes, such as buying a new car or going on a holiday, and your repayments are ensured to remain the same for the entirety of the loan.

You can borrow anywhere between $4,000 and $50,000 and choose to pay it back weekly, fortnightly or monthly.

Things to consider about the Commonwealth Bank Fixed Rate Personal Loan

Having a fixed interest rate means your repayments will remain the same and not fluctuate with the rise and fall of market interest rates. The fixed rate starts from 12.99% p.a.

With the opportunity for same-day access to funds, this loan is a viable option if you need money fast. If you don't like the sound of a fixed interest rate, Commonwealth Bank also offers a Variable Rate Loan.

Product NameCommonwealth Bank Fixed Rate Personal Loan
Interest Rate (p.a.)From 12.99% (fixed)
Comparison Rate (p.a.)13.86%
Interest Rate TypeFixed
Min Loan Amount$4,000
Max. Loan Amount$50,000
Loan SecurityUnsecured


  • Competitive interest rate
  • Quick and easy online application


  • There is a monthly fee of $10
  • There is an upfront cost of $150

Features of the Commonwealth Bank Fixed Rate Personal Loan

  • Fixed interest rate. The interest rate and repayment amounts are fixed at a competitive 12.99% p.a. for the life of the loan. If market interest rates rise, your repayments will remain the same, which may help you save you money in the long run.
  • Fast response. There’s no need to stress while you wait for approval, as the Commonwealth Bank guarantees a response within 60 seconds of submitting your application.
  • Same-day funding. As long as you submit your application before midday on a business day you could have access to your funds on the same day.
  • Flexible repayment options. You are able to choose between weekly, fortnightly or monthly repayments. Commonwealth Bank also lets you repay the loan over a period of between 1 to 7 years.
  • Option to make extra repayments. This loan gives you the ability to make extra repayments up to a total of $1,000 per year, helping to shorten the life of the loan and save you money on interest repayments.
  • Fees and charges. This loan has an establishment fee of $150 and a monthly fee of $10. As with most loans, late payments fees may also apply.

How to apply for the Commonwealth Bank Fixed Rate Personal Loan

If this sounds like the right loan for you and you have all your documentation in order, click ‘Go to Site’ to begin the application process. You can also apply through your NetBank account if you are already a Commonwealth Bank customer.

To be eligible for this loan you will need to:

  • Have a source of regular income
  • Have an Australian residential address
  • Be over 18 years of age

You will need to provide documentation such as:

  • Proof of income
  • Personal information
  • Financial information (bank statements, payslips, debts and credit cards)
  • Details of your assets (you will only need to provide this if you choose a secured loan)
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Personal Loan Offers

Important Information*
Logo for Citi Personal Loan Plus
Citi Personal Loan Plus

You'll receive a variable rate between 8.99% p.a. and 17.99% p.a. (9.67% p.a. to 18.6% p.a. comparison rate) based on your risk profile
A credit limit up to $75,000 that you can continue to draw down over terms up to 5 years. Note: The establishment fee will be waived if you apply before 30 September 2019.

Logo for ING Personal Loan
ING Personal Loan

You'll receive a fixed rate of 8.99% p.a.
Benefit from no ongoing fees, no early repayment fees and flexible loan terms on amounts up to $30,000.

Logo for NOW FINANCE Personal Loans
NOW FINANCE Personal Loans

You'll receive a fixed rate between 8.95% p.a. and 16.95% p.a. based on your risk profile
Apply for loans from $5,000 and get a dedicated loan manager. No security required.

Logo for Westpac Unsecured Personal Loan
Westpac Unsecured Personal Loan

You'll receive a fixed rate of 12.99% p.a.
Benefit from the security of a fixed rate with the flexibility of additional repayments. Existing Westpac customers may qualify for discounts. Note: Establishment fee will be waived if you apply and are approved before 30 September 2019.

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21 Responses

  1. Default Gravatar
    Laura PennyOctober 6, 2018

    Well what gonna happen now
    How do I sign up for the banking industry to get the go ahead with this one

  2. Default Gravatar
    LauraOctober 6, 2018

    Would I be able to get a loans if I can. Well what gonna happen now?

    • Avatarfinder Customer Care
      JoshuaOctober 7, 2018Staff

      Hi Laura,

      Thanks for getting in touch with finder. I hope all is well with you. :)

      Yes, you can apply for a loan with Commonwealth Bank. However, before you do so, please review the criteria, details of the loan product, and its conditions, then contact the Commonwealth Bank directly to discuss your loan options and eligibility.

      In case you are also exploring other options, please check this list of personal loans.

      I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.

      Have a wonderful day!


  3. Default Gravatar
    RozAugust 24, 2017

    Hi, can I apply for a personal loan of $5000. I’m on my bridging visa and been working casual for 3 months now.

    • Default Gravatar
      LiezlAugust 25, 2017

      Hi Roz,

      Thanks for reaching out. You may apply for this loan if you meet the eligibility criteria and documentation mentioned above. Also, you may check this page for other loans options available to temporary residents.


  4. Default Gravatar
    kathrynAugust 16, 2017

    I am on a dsp pension, am I eligible to borrow $10,000

    • Default Gravatar
      ArnoldAugust 16, 2017

      Hi Kathryn,

      Thanks for your inquiry.

      There are lenders that will allow personal loans for people on pension. Please check this page to compare these lenders in our panel. Please remember to check eligibility criteria before applying.

      Hope this information helped.


  5. Default Gravatar
    chrisJune 8, 2017

    Does D.S.P pension count towards my loan approval? I need the funds for a new computer for my tafe course next year plus education expenses incurred throughout the duration of the course. Please advise. Thank you

    • Default Gravatar
      JonathanJune 8, 2017

      Hi Chris!

      Thanks for your comment.

      Absolutely! Some lenders consider Centrelink payments as a form of income. You may want to check your options on this page.

      Click “Go to Site” green button to proceed with your application.

      Please take note that it is subject to lender’s credit approval.

      Hope this helps.

  6. Default Gravatar
    JoshMay 11, 2017

    I’m looking to get a loan on a base income or 450 is it possible to get a 5000 loan

  7. Default Gravatar
    KennethDecember 12, 2016

    Hi I’m trying to apply to get a personal for a would it be possible if I could ?

    • Avatarfinder Customer Care
      DeeDecember 12, 2016Staff

      Hi Kenneth,

      Thanks for your question.

      You are eligible to apply for Commonwealth Bank Fixed Rate Personal Loan if you have a regular income, have an Australian residential address and be over 18 years of age.

      If you are looking for a fixed rate personal loan, other options are available on this page.


  8. Default Gravatar
    MichaelSeptember 3, 2016

    I m looking for a personal loan of $10000
    I m a temporary resident with a 457 visa
    What documents do i have to supply in order to get the loan and how much time does it take between the reviewing of the documents and the approval of the loan?
    Thanks and have a good day

    • Avatarfinder Customer Care
      ElizabethSeptember 5, 2016Staff

      Hi Michael,

      You have to supply the documents as listed on the page above and documents to show your residency details (i.e. how long you have left on your visa). You’ll need documents to prove you:
      Have confirmed employment in Australia
      Hold a salary credited Commonwealth Bank transaction account with a reasonable balance
      Hold a 457 visa
      The approval and funding process differs but you should be able to get a response soon after your you apply in Netbank. As you’re a current customer (you’ll need to be to apply) you can get funded on the same or next business day.

      I hope this helps,


  9. Default Gravatar
    delAugust 16, 2016

    Hi i was wondering if i am eligible for the commonwealth bank fixed rate personal loan. So far on your website it said i am but am unsure?

    • Avatarfinder Customer Care
      ElizabethAugust 16, 2016Staff

      Hi Del,

      The minimum eligibility criteria is that you have a source of regular income, have an Australian residential address and are over 18 years of age. If you have the means to repay the loan you’re applying for you can submit your application on CommBank’s website.

      I hope this helps,


  10. Default Gravatar
    JeanJuly 29, 2016

    I am 76 years old and get the pension. Can I still get a personal loan. I have a mortgage

    • Avatarfinder Customer Care
      ElizabethJuly 29, 2016Staff

      Hi Jean,

      Commbank considers people receiving the pension for personal loans, but you need to be receiving $14,000 p.a. t0 be eligible and show that you will be able to repay the loan you’re applying for.

      I hope this helps,


    • Default Gravatar
      ChrissieOctober 14, 2016

      I been look for help abt apply online and I’m on pension and they not show up abt pension just say unemployment or employment need advice please

    • Avatarfinder Customer Care
      ElizabethOctober 17, 2016Staff

      Hi Chrissie,

      When you apply you can list your current income from benefits (the pension) and your income from employment. Here, you would list your pension income and $0 from other income (if that is accurate). You will then list unemployed unless you hold some form of employment.

      You also have the option of applying in-branch if you’re having trouble with the online application.

      Hope this helps,


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