Features & benefits

Discounted interest rate

Receive a discounted rate on Unsecured Variable and Fixed Rate Personal Loans for medical education costs at approved colleges and institutions.

Clear terms

Borrow $4,000–$50,000 with 1–7 year loan terms available.1

Manage on-the-go

Make repayments and track your loan in the CommBank app.

Loan types

  • Fixed Rate Loan

    • Stay in control with a fixed interest rate and repayments for the term of the loan
    • Make up to $1,000 in extra repayments per year without a fee2
    • Discounted upfront interest rate applies

    Find out more about a Fixed Rate Loan.

  • Variable Rate Loan

    • Flexibility to make extra repayments without a fee
    • Redraw available funds through your redraw facility
    • Discounted upfront interest rate applies

    Find out more about a Variable Rate Loan.

  • Secured Rate Loan

    The discounted rate does not apply to CommBank Secured Personal Loans. Find out more about CommBank Secured Personal Loans

Rates & fees  

  • 8.00% p.a.

    Available on Unsecured Variable and Fixed Rate loans.

    Usually 8.00% p.a. – 20.00% p.a. for Unsecured Variable and 8.49% p.a. – 20.49% p.a. for Unsecured Fixed Rate loans.

    The representative rate is 15.50% p.a. for Unsecured Variable and 15.99% p.a for Unsecured Fixed Rate loans.3

  • 9.40% p.a.

    Comparison rate.4

    Usually 9.40% p.a. – 21.30% p.a. for Unsecured Variable and 9.88% p.a. – 21.78% p.a. for Unsecured Fixed Rate loans.

    The representative rate is 16.83% p.a. for Unsecured Variable and 17.31% p.a for Unsecured Fixed Rate loans.3

  • Fees

    • $15 monthly loan service fee
    • $250 one-off establishment fee

    Other fees may also be payable such as a late payment fee.


You can apply if:

  • At least one loan purpose is for medical education
  • You are enrolled in an education program at a CommBank approved college or institution
  • You are able to provide a tax invoice from an approved college or institution, confirming your enrolment and course fees5

Approved colleges & institutions

If your college does not appear in this list of approved colleges, a CommBank Personal Loan can still be used for education expenses without the discounted interest rate. 

  • Australasian College for Emergency Medicine
  • Australasian College of Sports and Exercise Physicians
  • Australia and New Zealand College of Anaesthetics
  • Australian College of Rural and Remote Medicine
  • College of Intensive Care Medicine of Australia and New Zealand

  • Royal Australian College of Dental Surgeons
  • Royal Australian College of Surgeons 
  • The Australasian College of Dermatologists
  • The Royal Australasian College of Medical Administrators
  • The Royal Australasian College of Physicians
  • The Royal Australian and New Zealand College of Obstetricians and Gynaecologists

  • The Royal Australian and New Zealand College of Ophthalmologists
  • The Royal Australian and New Zealand College of Psychiatrists
  • The Royal Australian and New Zealand College of Radiologists
  • The Royal Australian College of General Practitioners
  • The Royal College of Pathologists of Australasia

How to apply

For CommBank customers with access to NetBank or the CommBank app, you can now easily apply online.

Apply Now

Or speak to a Banker

Visit us in branch or call us from 8am - 7pm Monday to Friday or 9am to 2pm on Saturday (Syd/Melb time). We'll walk you through the application process.

Find a branch

Call 13 1431

What to expect

  • You must select ‘Medical Education’ as your loan purpose in the application form 
  • Submit a tax invoice from an approved college or institution on an official letterhead, confirming your enrolment and total course fees5
  • We’ll check the documentation you have provided and apply the discount to your loan once we’re satisfied you’ve met the above conditions. If we’re not satisfied you have met the above conditions, our standard pricing (without any discount) will apply should you wish to proceed with your loan. 

Banking solutions for healthcare professionals

Solutions tailored for health professionals

View our range of products and partnerships that could help support your business needs.

Specialised knowledge & support    

Get help from our national network of Accredited Health Bankers who are available 8am-8pm to take care of your business questions. 

Healthcare news & insights  

Health specific resources - reports, case studies and support and grants. 

Frequently asked questions

For a personal loan with a fixed interest rate, you lock in an interest rate that stays the same over the life of the loan. You can only make up to $1,000 in extra repayments a year and you cannot redraw any additional repayments you’ve made.

For a variable interest rate personal loan, the interest rate can change, up or down, over the life of the loan. You can make unlimited extra repayments, which can help you save on interest payments over the life of the loan. You also have the flexibility to redraw available funds from your redraw facility. 

A secured personal loan is a loan guaranteed by an asset, such as a car. The lender uses this asset as security, which means that if you don’t make the agreed repayments the lender can take possession of the asset and sell it to cover the cost of the loan. The secured personal loan interest rate is always a fixed rate. A medical education discount does not apply to this type of loan. 

An unsecured loan means that you don’t have to provide any security for your loan. While the interest rate on an unsecured personal loan is usually higher than a secured loan, it also offers a little more flexibility and a quicker and easier application and funding process, since you won’t need to provide us with details of the asset you’re using as security (e.g. a car).

Yes, if applying for the medical education discount on an unsecured personal loan, you can add other loan purposes and we will honour the discounted rate on the entire loan amount. 

Yes, if you have an existing Personal Loan and would like to apply for the medical education discount, you’ll need to apply for a new Personal Loan. Loan increase applications aren’t eligible for the medical education discount.

However, you can select to refinance an existing CommBank Personal Loan in your new Personal Loan. 

Things you should know

  • 1 For unsecured personal loans, $50,000 is the maximum we’ll lend (subject to loan type and purpose). Up to $100,000 is available on Secured Personal Loans.

    Additional repayments made on a Fixed Rate Loan are not available to be redrawn. View the Personal Loan Terms and Conditions (PDF).  

    3 At least half of our customers will receive the representative rate or lower. It may not be the actual rate you receive.

    4 Comparison rates are calculated based on an unsecured loan of $30,000 over a term of 5 years. WARNING: Comparison rate is true only for examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

    Interest rates, fees, terms and conditions may be subject to change (although we won’t change a fixed interest rate during a fixed rate period). We’ll let you know of any changes in accordance with our contract.

    The loan amount for medical education purposes must not exceed the course fees on the invoice supplied.

    We’re required to have Target Market Determinations (“TMD”) for each of our loan products. Browse our current Personal Loan TMDs

    This guide doesn’t consider your individual objectives, financial situation or needs. Before basing any decisions on this information please:

    • Consider its appropriateness to your circumstances.
    • Consider obtaining professional advice specific to your needs, including financial, taxation and legal advice.

    Applications for finance are subject to the Bank’s normal credit approval. View the Personal Loan Terms and Conditions (PDF). Full terms and conditions will be included in our loan offer. Fees and charges payable. Commonwealth Bank of Australia ABN 48 123 123 124. Australian credit licence 234945.