Loans

Everyone needs a helping hand when they first arrive in a new country, and we have a range of home and personal loans to lessen your financial worries.

Personal loans

We offer pre-assessed personal loans to people intending to move to Australia. To be eligible for a loan, you must:

• Have confirmed employment in Australia
• Have a confirmed Australian income of more than $50,000 per annum
• Hold a 457 visa
• Hold a Commonwealth Bank transaction account with a reasonable balance

How to apply for a personal loan

Contact our International Customer Services team who will explain the offer and send an application form. Complete the application and attach copies of the following documents to the form:

• Passport, including visa (New Zealand passport holders do not require a visa)
• Letter of employment (this must include your salary and length of employment)
• Evidence of any existing liabilities

Please note that your passport must include the 457 visa and you must provide evidence of a Commonwealth Bank day-to-day transaction account.

The application form and accompanying documents can be faxed to +61 2 9151 8399 or emailed to ics@cba.com.au.

Contact us for more information on personal loans.

Home loans

We offer a complete range of home loan options designed to meet your needs.

To be eligible for a loan, you must be at least 18 years old and able to provide:

• Evidence of ongoing regular income
• Evidence of any existing liabilities
• A minimum 5% genuine savings or equity if you wish to borrow more than 85% of the property’s value
• Proof of sufficient funds to cover the fees associated with buying a property in Australia
• Sufficient identification and, in some cases, other details

NB: If you are not a resident of Australia, you will require approval from the Foreign Investment Review Board before buying residential property. See www.firb.gov.au for more information.

How to apply for a home loan

Once you arrive in Australia, you can start a five-minute application online. One of our Home Lending Specialists will then call at a time that suits you to assist with the rest of your application. Alternatively, you can contact us on 13 2224, 24 hours, 7 days a week, or visit any Commonwealth Bank branch to arrange an appointment.

If you want to arrange an appointment prior to your arrival in Australia, contact the International Customer Services team.

 

Important information

• You need to be 18 years or over to apply for a Personal Loan. Applications for finance are subject to the Bank’s normal credit approval. Full terms and conditions will be included in the loan offer. Fees and charges are payable.