CommBank Fixed Rate Personal Loan
Borrow up to $50,000 with this fixed rate personal loan. Interest rates are 9% p.a., monthly and establishment fees also apply.
- Applications submitted and funded before 27 February 2022 will secure a 2.5% p.a. rate discount.
CommBank offers a fixed rate personal loan with a fast approval process. Personal loans can be used for a variety of purposes, such as buying a new car or going on a holiday. With fixed interest rates, your repayments will remain the same for the entirety of the loan. Loan amounts range from $4,000 up to $50,000 with terms between 1 to 7 years. You can make extra repayments and pay off your loan early, but it is limited to $1,000 a year. Your interest rate is fixed at 9% p.a., with a comparison rate of 9.90% p.a.. You will be charged an establishment fee of $150 and a monthly fee of $10.
From 9% (fixed)
Interest Rate (p.a.)
Comparison Rate (p.a.)
Min Loan Amount
Things to consider about the CommBank 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 9% 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, CommBank also offers a Variable Rate Loan.
Features of the CommBank Fixed Rate Personal Loan
- Special Offer. Applications submitted and funded before 27 February 2022 will secure a 2.5% p.a. rate discount.
- Fixed interest rate. The interest rate and repayment amounts are fixed at a competitive 9% 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 CommBank 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. CommBank 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 CommBank 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 CommBank 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)
Compare other personal loans
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