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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.
How do i apply
Hi Jack,
Thank you for contacting finder.
I understand that you are inquiring about applying for a loan.
Here are the details for you to apply.
In order to apply, you need to meet the minimum criteria, which includes that you:
-Be over the age of 18
-Hold Australian citizenship or permanent residency or be a New Zealand citizen or hold a 457 visa
-Not be an undischarged bankrupt or be unemployed
-Live in Australia
-Meet the minimum income requirements
To begin, click “Go to site” and then choose your type of loan, customise it and provide the information needed to complete the application. Once you have submitted your application, you will receive a response from Commonwealth Bank within 60 seconds.
Thanks.
John
How much are the fortnightly payments
Hi Leslie,
Thank you for your inquiry and for contacting finder.com.au – a financial comparison website and general information service designed to help consumers make better decisions. We do not represent Commonwealth bank and any other company we listed on our site.
If you are pertaining to the personal loans offered by CBA, the fortnightly repayment would depend on the type of loan you take out, the interest, amount of loan and the fees it involves. To get the exact computation for the repayments, you’d be best to get in touch with CBA directly.
Cheers,
May
My only income is full DSP and I applied for Variable rate personal loan for a new car. I had more than 50% cash to pay towards the car.
After an initial knock-back, I spoke to loan people at CBA at some length. I did more accurate calculations of my income and expenses, and their online calculator said I would be able to get MORE than I actually needed with the new amounts.
So I re-applied, actually for $1000 LESS, so expected no issues. It was initially accepted as “under review”, but 2 days later I logged into NetBank and found it too had been rejected. No reason. No phone call or email.
I have been with CBA for decades, but received no preferential treatment at all. Loyalty seems to mean nothing to them, so why should I stay with them? I don’t think they really want pensioner loans at all!
Hi Chris,
Thanks for getting in touch and I am sorry to hear about your rejected personal loan application.
You may not have met all the requirements set by CBA for their personal loan. Nevertheless, please give our list of lenders for Centrelink recipients a try. Open that page and find information on lenders that may offer loans to people on DSP. Please contact the lender directly to discuss your eligibility and options.
Hope this helps.
Cheers,
May
Your bank was suppose to go yo court regarding Wells Fargo Bank not honoring a deposit for me. I lost 600.00 and I have to cover what Wells Fargo didn’t honor for total of 1200.00
Hi John,
You’ve come through to finder.com.au, an online financial comparison site and not a financial institution. You’ll need to contact Commonwealth Bank directly if you have a complaint.
Thanks,
Elizabeth
Hi I am only on a Centrelink income I have 3 children and I am a carer to my partner who is on dsp I am desperately wanting to apply for a loan of $4-$5000 dollars asap which bank or company am I best applying with i don’t have a bad credit history that I know of but both of us are only receiving Centrelink payments thanks.
Hi Tegan,
CommBank does consider Centrelink applicants for personal loans, you just need to be earning $14,000 p.a. and show that you have the capacity to repay the loan. You can get in touch with CommBank directly to discuss your eligibility.
If you want to find out some of your other options you can check Centrelink loans. Open that link to see a list of lenders that consider Centrelink applicants as well as the criteria you need to meet.
Hope this helps,
Elizabeth