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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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