CommBank Personal Loans
Personal loans for every need. Interest rates, fees and borrowing amounts depend on the type of loan you apply for.
What different scores mean
9+
Excellent
The crème de la crème of personal loans. These products offer the lowest cost loans accompanied by the best features.
7+
Great
Slightly higher in cost and fewer features, but these products are still competitive.
5+
Standard
Typically offering above average rates and possibly lacking in the features department.
0+
Basic
The least competitive in terms of both cost and features.
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How to apply for a CommBank personal loan
Applying online is a straightforward process. You'll need to meet general eligibility requirements including:
- Being at least 18 years of age
- Being an Australian citizen or a permanent resident of Australia
- Being in paid employment
Compare other products from Commonwealth Bank
- Commonwealth Bank credit cards
- Commonwealth Bank home loans
- Commonwealth Bank savings accounts
- Commonwealth Bank term deposits
- Commonwealth Bank superannuation
- Commonwealth Bank car loans
- Commonwealth Bank business loans
- Commonwealth Bank travel insurance
- Commonwealth Bank car insurance
- Commonwealth Bank life insurance
- Commonwealth Bank income protection
- Commonwealth Bank landlord insurance
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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