Benefits of debt consolidation

Having a number of debts to worry about each month can be a burden and makes budgeting difficult. Taking out a Commonwealth Bank personal loan and consolidating all those debts has a number of advantages:

• You could save money because the interest rate and monthly fees are lower than many credit cards and store cards.
  
  
• It gives you a set repayment plan to help you get on top of your debt. Many credit cards and store cards only require a small repayment each month, which will take much longer to repay and cost you more interest in the long term.
  
  
• You have just one single repayment to worry about, saving you time and hassles.
  
  
• It could put an end to late payment fees.
  
  
• Choose a fixed interest rate and know the exact repayment amount you need to pay each month or a variable rate and make extra repayments without a fee.
  
  
• It could help improve your credit rating.
  

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.