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Based on CommBank personal loan scores in Finder's 2024 & 2025 Customer Satisfaction Awards.
Applying online is a straightforward process. You'll need to meet general eligibility requirements including:
Are secured personal loans better than unsecured personal loans and how do they work?
Personal loans offer a range of loan amounts to suit different purposes and budgets. Here's how to get the loan amount you need.
If you're wanting to bolster your application, buy an asset with your partner or apply for a loan you're not eligible for by yourself, you can consider a joint application personal loan.
Temporary Australian residents may be eligible to apply for personal loans, depending on the visa they hold.
Not all personal loans come with endless documentation. Some lenders specialise in quick and easy application processes.
Compare unsecured personal loans from some of Australia's top lenders. Find the best deal on rates, fees and features in seconds.
Use a personal loan calculator to work out your repayments or compare loans with a comparison calculator.
We’ve written about fixed rate personal loans and what their advantages are.
Find a low interest loan by comparing your options with Finder. See interest rates, fees, and features for loans across Australia, plus guides to help you get the best deal.
Find out exactly what you need to know when it comes to cheap personal loans, including working out if a loan is really competitive.
Could I use gold or my car as a collateral for securing a personal loan?
What is the minimum income that has to be shown to get a secured loan?
Yes, you may be able to provide your car as collateral, provided it’s not currently secured against another personal loan.
The minimum income depends on a range of other factors. The lender wants to ensure you can repay the loan based on your current income, debts, expenses and employment security. Your best bet is to contact CBA and explain your situation, so you can see what your options are.
Hope this helps!
Who will lend a person on Centrelink only payments?
Hi Nola,
Thank you for getting in touch with Finder.
Commonwealth Bank is one of the banks offering Centrelink loans. To be eligible, you must have a minimum income of $14,000 p.a.. They accepts parenting payments, DSP, and carer’s pension as income.
You may go through our comparison table of the said page to know banks/lenders that you may apply for a loan with. Please make sure that you’ve read the relevant T&Cs or PDS of the loan products before making a decision and consider whether the product is right for you.
I hope this helps.
Thank you and have a wonderful day!
Cheers,
Jeni
How should be back the money
When you can give me money please
Hi Meysam,
Thank you for reaching out to finder.
If you have already made an application with Commonwealth on a personal loan, you may need to direct this query over to them to be sure as to when the money would be disbursed. If you have not applied yet and still checking on the timeline for disbursement, the company will inform you once the application is processed and approved. Hope this helps!
Cheers,
Reggie
I am Centrelink newstart allowance recipient looking for the best unsecured personal loan as I find it hard to get approved because I don’t have a job. I own my own home, I don’t owe any money to anybody, and I don’t have credit cards with very good credit rating. Can someone please give me an answer to where I can get a loan?
Hi Maselusi,
Thanks for getting in touch with Finder. I hope all is well with you. :)
I’m sorry to hear that you are having trouble in finding a lender who can help you. Generally, the more documents you can show that you can make repayments, the higher your chance of getting approved. However, in your case, your only source of income is Centrelink and not all lenders could consider that as enough proof of your ability to make repayments.
Thankfully, there are lenders offering Centrelink loans. Please refer to the table to compare your option. On that page, you will also read our guide on how to improve your chance of getting a loan.
I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.
Have a wonderful day!
Cheers,
Joshua
Hi,
Im a commonwealth Bank Employee and looking for student loans. can I have some more details
Hi Muskaan,
Thanks for leaving a question on Finder.
If you are looking to compare student loans, you can use our comparison table to help you find the lender that suit you. Once you have decided on a suitable loan for your needs, you may click on the green ‘Go to site’ button to submit your application or know more about the loan offer.
Cheers,
Joel