Benefits of a personal loan

If you need additional funds for any reason, a Commonwealth Bank personal loan can be customised to suit your needs. You can borrow from $5,000 to $50,000 and pay it weekly, fortnightly or monthly over a loan term from one year up to seven years. This can be a much faster way to cover your costs than adding them to your home loan.

Our personal loans have lower interest rates and monthly fees than many credit cards, store cards and other lending schemes so it can be a more cost-effective and manageable way to get the things you want.

If you choose a fixed interest rate, you’ll know exactly how much you have to pay each month. If you choose a variable rate, you’ll be able to make extra repayments at any time you have some spare cash without incurring a fee and you can benefit from potential rate decreases. Because your loan is unsecured, assets such as your home are not at risk.

Apply quickly and easily online, by calling 13 1431 or visiting any branch. If you’re an existing customer you could get instant approval and same-day funding^*.

• Important information
  *Apply before midday Monday to Friday, and if you’re approved, we’ll give you access to your loan that day. Unavailable for secured loans, when a guarantor is required, if an application is incomplete or needs to be referred for a more detailed review by a lending specialist and subject to system availability. Applications for finance are subject to the Bank's normal credit approval. Full terms and conditions will be included in our loan offer. Fees and charges are payable. Commonwealth Bank of Australia ABN 48 123 123 124